Common use of Inventory; Perpetual Inventory Clause in Contracts

Inventory; Perpetual Inventory. The Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that all of the Inventory owned by the Borrower or LDM Canada is and will be held for sale or lease, or to be furnished in connection with the rendition of services, in the ordinary course of the Borrower's or LDM Canada's business, and is and will be fit for such purposes. The Borrower will keep and will cause LDM Canada to keep its Inventory in good and marketable condition, at its own expense. Borrower will not, and will not permit LDM Canada to, without the prior written consent of the Agent, acquire or accept any Inventory on consignment or approval. The Borrower agrees that all Inventory produced in the United States will be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. The Borrower will conduct a monthly physical count of the Inventory (and after and during the continuation of an Event of Default, at such other times as the Agent requests) and deliver a summary of the results thereof to the Agent within thirty (30) days after the last day of each calendar month until the Borrower has implemented a perpetual inventory system for the Borrower and LDM Canada and the Agent is satisfied with the test count results as a verification of the accuracy of those perpetual inventory systems. The Borrower will not, and will not permit LDM Canada to, without the Agent's written consent, sell any Inventory on a bill-xxx-hold, guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or return basis.

Inventory; Perpetual Inventory. The Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that all of the Inventory owned by the Borrower or LDM Canada is and will be held for sale or lease, or to be furnished in connection with the rendition of services, in the ordinary course of the Borrower's or LDM Canada's business, and is and will be fit for such purposes. The Borrower will keep and will cause LDM Canada to keep its Inventory in good and marketable condition, at its own expense. Borrower will not, and will not permit LDM Canada to, without the prior written consent of the Agent, acquire or accept any Inventory on consignment or approval. The Borrower agrees that all Inventory produced in the United States will be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. The Borrower will conduct a monthly physical count of the Inventory (and after and during the continuation of an Event of Default, at such other times as the Agent requests) and deliver a summary of the results thereof to the Agent within thirty (30) days after the last day of each calendar month until the Borrower has implemented a perpetual inventory system for the Borrower and LDM Canada and the Agent is satisfied with the test count results as a verification of the accuracy of those perpetual inventory systems. The Borrower will not, and will not permit LDM Canada to, without the Agent's written consent, sell any Inventory on a billxxxx-xxxand-hold, guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or return basis.

Inventory; Perpetual Inventory. The Each Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that all of the Inventory owned by the such Borrower or LDM SDI Canada is and will be held for sale or lease, or to be furnished in connection with the rendition of services, or to be consumed in the business of such Borrower or SDI Canada or to be used in connection with the packing, shipping, advertising, selling or finishing of other Inventory, all in the ordinary course of the such Borrower's or LDM SDI Canada's business, and is and will be fit for such purposes. The Each Borrower will keep keep, and will cause LDM SDI Canada to keep keep, its Inventory in good and marketable condition, at its own expense. Borrower will not, and will not permit LDM Canada to, without the prior written consent of the Agent, acquire or accept any Inventory on consignment or approval. The Each Borrower agrees that all Inventory produced in the United States will be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. The Each Borrower will, and will cause SDI Canada to, conduct a monthly physical count of the Inventory (at least once per Fiscal Year, and after and during the continuation of an Event of Default, at such other times as the Agent requests) . Each Borrower will, and deliver a summary of the results thereof to the Agent within thirty (30) days after the last day of each calendar month until the Borrower has implemented will cause SDI Canada to, maintain a perpetual inventory reporting system for the at all times. Neither Borrower will, and LDM Canada and the Agent is satisfied with the test count results as a verification of the accuracy of those perpetual inventory systems. The neither Borrower will not, and will not permit LDM SDI Canada to, without the Agent's written consent, sell any Inventory on a bill-xxx-hold, guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or return basis; provided, that the Borrowers may agree, consistent with past practices, to repurchase non-consumable spare parts for the purpose of repairing such spare parts and re-selling them to the customer.

Inventory; Perpetual Inventory. The Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that all of the Inventory owned by the Borrower or LDM SDI Canada is and will be held for sale or lease, or to be furnished in connection with the rendition of services, or to be consumed in the business of the Borrower or SDI Canada or to be used in connection with the packing, shipping, advertising, selling or finishing of other Inventory, all in the ordinary course of the Borrower's or LDM SDI Canada's business, and is and will be fit for such purposes. The Borrower will keep keep, and will cause LDM SDI Canada to keep keep, its Inventory in good and marketable condition, at its own expense. Borrower will not, and will not permit LDM Canada to, without the prior written consent of the Agent, acquire or accept any Inventory on consignment or approval. The Borrower agrees that all Inventory produced in the United States will be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. The Borrower will, and will cause SDI Canada to, conduct a monthly physical count of the Inventory (at least once per Fiscal Year, and after and during the continuation of an Event of Default, at such other times as the Agent requests) . The Borrower will, and deliver a summary of the results thereof to the Agent within thirty (30) days after the last day of each calendar month until the Borrower has implemented will cause SDI Canada to, maintain a perpetual inventory reporting system for the Borrower and LDM Canada and the Agent is satisfied with the test count results as a verification of the accuracy of those perpetual inventory systemsat all times. The Borrower will not, and the Borrower will not permit LDM SDI Canada to, without the Agent's written consent, sell any Inventory on a bill-xxx-hold, guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or return basis; PROVIDED, that the Borrower may agree, consistent with past practices, to repurchase non-consumable spare parts for the purpose of repairing such spare parts and re-selling them to the customer.

Inventory; Perpetual Inventory. The Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that all of the Inventory owned by the Borrower or LDM Canada is and will be held for sale or lease, or to be furnished in connection with the rendition of services, in the ordinary course of the Borrower's or LDM Canada's business, and is and will be fit for such purposes. The Borrower will keep and will cause LDM Canada to keep its Inventory in good and marketable condition, at its own expense. Borrower will not, and will not permit LDM Canada to, without the prior written consent of the Agent, acquire or accept any Inventory on consignment or approval. The Borrower agrees that all Inventory produced in the United States will be produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations, and orders thereunder. The Borrower will conduct a monthly physical count of the Inventory (and after and during the continuation of an Event of Default, at such other times as the Agent requests) and deliver a summary of the results thereof to the Agent within thirty (30) days after the last day of each calendar month until the Borrower has implemented a perpetual inventory system for the Borrower and LDM Canada and the Agent is satisfied with the test count results as a verification of the accuracy of those perpetual inventory systems. The Borrower will not, and will not permit LDM Canada to, without the Agent's written consent, sell any Inventory on a bill-xxxand-hold, guaranteed sale, sale and return, sale on approval, consignmentconsxxxxent, or other repurchase or return basis.