Inventory Reserves. The amount of any reserve established by Agent shall have a reasonable relationship to the event, condition or other matter which is the basis for such reserve (or increase thereof) as determined by Agent in good faith.
Inventory Reserves. (A) 100% of the Cost of all Eligible Inventory located at any location the landlord of which has been granted a security interest in the personal property of any Borrower, which landlord has not subordinated to the security interests created herein by an instrument which is reasonably satisfactory to the Lender.
Inventory Reserves the Agent in its Permitted Discretion with respect to the determination of the saleability, at retail, of the Eligible Inventory, which reflect such other factors as affect the market value of the Eligible Inventory or which reflect claims and liabilities that the Agent determines will need to be satisfied in connection with the realization upon the Inventory. Without limiting t Permitted Discretion, include (but are not limited to) reserves based on:
Inventory Reserves. As defined in the First Lien Credit Agreement.
Inventory Reserves. Agent may establish reserves against the ------------------ Borrowing Base in such amounts as Agent in its reasonable credit judgment (from the perspective of an asset-based lender) shall deem necessary or appropriate, for (x) sums that Borrower is required to pay (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases other than locations subject to Collateral Access Agreements) and has failed to pay when due under any section of this Agreement or any other Loan Document and (y) without duplication of the foregoing, amounts owing by Borrower to any Person that the Borrower has not paid when due, to the extent secured by a Lien on, or trust over, any of the Collateral, which Lien or trust, in the reasonable determination of Agent (from the perspective of an asset-based lender), would be likely to have a priority superior to the Liens of Agent (such as landlord liens, ad valorem taxes, or sales taxes where given priority under applicable law) in and to such item of the Collateral.
Inventory Reserves. The Business recognizes Inventory reserves for excess and obsolete Inventory, aged WIP and other Inventory reserves. Reserve for excess and obsolete Inventory - The reserve for excess and obsolete Inventory is based on historical Inventory usage and not future forecasted usage, except for the locations that have historically used Materials Resource Planning (“MRP”) quantities to calculate Inventory reserves. As an example of the reserve calculations performed, the Inventory excess and obsolete Inventory reserve methodology for the Diodes, GaAs Sige, Components, PHO and Laser Diodes product lines have been described below and outlined in Annexes 1 to 4. The reserve for excess and obsolete Inventory for the Diodes and GaAs Sige product lines of M/A-COM Technology Solutions Inc. (“MTS”) are calculated by (i) determining the period of last activity for a part number followed by (ii) calculating the last twelve months usage for the part number followed by (iii) calculating the current Inventory in stock for the part number followed by (iv) subtracting the last twelve months usage from the current Inventory in stock for the part number and then multiplying by the percentage provision which is listed in the table below. Period of Last Activity How Applied to Inventory Percentage Provision 0 to 6 Months Inventory held in Excess of Last 12 Months Usage 25% EXHIBIT A Specified Accounting Principles 7 to 12 Months Inventory held in Excess of Last 12 Months Usage 100% 13 to 18 Months All Inventory 100% 19 Months and Over All Inventory 100% The Components product line includes an excess and obsolete reserve for standard parts and custom parts as outlined in Annex 4. The reserve for excess and obsolete Inventory for standard parts in the Components product line is calculated by (i) determining the last three month usage of a part number (multiplied by four) followed by (ii) calculating the annualized Inventory usage based on the last three month usage of a part number followed by (iii) calculating the current Inventory in stock for the part number followed by (iv) calculating the surplus quantity by subtracting the annualized Inventory usage from the current Inventory in stock for the part number and multiplying by a 100% provision. The excess and obsolete Inventory for custom parts in Components is calculated by (i) determining the current Inventory in stock for the custom part number followed by (ii) determining the total required Inventory quantity for the custom par...
Inventory Reserves. Such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent's discretion with respect to the determination of shrink, the saleability, at retail, of the Eligible Inventory or which reflect such other factors as affect the market value of the Eligible Inventory.
Inventory Reserves. (A) The Cost of the Borrowers' Inventory located at any "return center" maintained by the Borrower. (B)
Inventory Reserves such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s reasonable discretion with respect to the determination of shrink, the saleability, at retail, of the Eligible Inventory, decreases in cumulative xxxx-ups from historical or industry norms, or which reflect such other factors as affect the market value of the Eligible Inventory. Investment - any (a) acquisition of all or substantially all assets of, or any line of business or division of, a Person; (b) acquisition of record or beneficial ownership of any Capital Stock of a Person; (c) loan, advance or capital contribution to, guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor guarantees Debt of such other Person, or (d) other investment in a Person. Investment Property - as defined in the UCC. Issuing Bank - with respect to (a) the US Borrower, each of Bank of America and Xxxxx Fargo Bank, National Association, in its capacity as issuer of Letters of Credit for the account or benefit of the US Borrower hereunder and, (b) the Canadian Borrower, each of Bank of America-Canada Branch and Xxxxx Fargo Foothill Canada ULC, in its capacity as issuer of Letters of Credit for the account or benefit of the Canadian Borrower hereunder or, in each case, any permitted successor issuer of Letters of Credit hereunder and (c) such other financial institution designated in writing by the Administrative Agent in its reasonable discretion to issue one or more Letters of Credit hereunder for the Borrowers’ account. Issuing Bank Indemnitees - the Issuing Banks and their officers, directors, employees, Affiliates, branches, agents, advisors and attorneys. ITA – the Income Tax Act (Canada), as the same may be amended from time to time, and any regulation promulgated thereunder. Joint Venture - a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided that in no event shall any Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. LC Application - an application by a Borrower to an Issuing Bank for issuance of a Letter of Credit, in form and substance reasonably satisfactory to such Issuing Bank. LC Documents - all documents, instruments and agreements (i...
Inventory Reserves. 17 Section 3.13 Customers and Suppliers ................................................................................. 18 Section 3.14 Insurance .......................................................................................................... 18 Section 3.15 Legal Proceedings; Orders ............................................................................... 19 Section 3.16 Compliance with Laws; Permits ...................................................................... 19 Section 3.17
