Maximum Inventory Levels Sample Clauses

Maximum Inventory Levels. Notwithstanding any transfer of title to Xxxx to all such Crude Oil or Products, Xxxx shall not be obligated at any time to pay for any quantity of Crude Oil or Product under Section 10.1 or 10.2 or otherwise hereunder to the extent such payment would relate to an aggregate quantity of Crude Oil or such Products in the Included Locations in excess of the then applicable maximum level as set forth on Schedule D or as may have been temporarily adjusted under Section 7.9.
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Maximum Inventory Levels. Notwithstanding any transfer of title to Aron to all such Crude Oil or Products, Aron shall not be obligated at any time to pay for any quantity of
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Maximum Inventory Levels. Notwithstanding any transfer of title to Macquarie to any Permitted Feedstock or Renewable Products or the quantity of any Eligible Renewables Lien Inventory in a Company Storage Location, Macquarie shall not be obligated at any time to pay for any quantity of Permitted Feedstock or Renewable Product under Section 12.1 or otherwise hereunder to the extent such payment would relate to an aggregate quantity of Renewable Products in the Included Storage Locations in excess of the then applicable maximum inventory level as set forth on Schedule D or as may have been temporarily adjusted under Section 8.8.
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Maximum Inventory Levels of the Supply and Offtake Agreement is hereby amended such that the references therein to “Eligible Hydrocarbon” shall be references to “Eligible Hydrocarbon Inventory”.
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Maximum Inventory Levels. Notwithstanding any transfer of title to Aron to all such Crude Oil or Products, Aron shall not be obligated at any time to pay for any quantity of Crude Oil or Product under Section 10.1 or 10.2 or otherwise hereunder to the extent such payment would relate to an aggregate quantity of Crude Oil or such Products in the Included Locations in excess of the then applicable maximum level as set forth on Schedule D or as may have been temporarily adjusted under Section 7.9; provided that (i) from and after the Second Restatement Effective Date to June 1, 2022, the maximum level set forth in Schedule D shall be no more than 6,000,000 Barrels; and (ii) from and after June 1, 2022, if the Leverage Ratio for the fiscal quarter ended March 31, 2022 is greater than or equal to 3.50:1.00, the maximum level set forth in Schedule D shall be 5,000,000 Barrels until such time the Leverage Ratio for any fiscal quarter ending thereafter is less than 3.50:1.00 at which time the maximum level set forth in Schedule D for the Specified Period (as defined below) shall be increased to 6,000,000 Barrels for so long as the Leverage Ratio for such fiscal quarter most recently ended is less than 3.50:1.00 (it being agreed that the Leverage Ratio shall be tested on April 1 (in respect of the fiscal quarter ended December 31 of the previous year), June 1, September 1 and December 1 (in respect of each other fiscal quarter most recently ended) in determining the maximum level set forth in Schedule D for the applicable period). For purposes hereof “Specified Period” means each of the following periods of each calendar year: (i) June 1 to August 31; (ii) September 1 to November 30; (iii) December 1 to March 31; and (iv) April 1 to May 31.
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Maximum Inventory Levels. Notwithstanding any transfer of title to Macquarie to any Crude Oil or Products or the quantity of any Eligible Hydrocarbon in a Specified Company Location, Macquarie shall not be obligated at any time to pay for any quantity of Crude Oil or Product under Section 10.1 or 10.2 or otherwise hereunder to the extent such payment would relate to an aggregate quantity of Crude Oil or such Products in the Included Locations and Specified Company Locations in excess of the then applicable maximum inventory level as set forth on Schedule D or as may have been temporarily adjusted under Section 7.9. In the event that Crude Oil or Products or the quantity of any Eligible Hydrocarbon in a Specified Company Location exceeds the maximum inventory level as set forth on Schedule D, Macquarie will hold title to all Barrels located in Crude Storage Tanks and the Included Product Tanks at the time without making payment for the same, and Fuels and/or LW will dispose of such Barrels of Crude Oil and Products as soon as reasonably possible.
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Maximum Inventory Levels. Notwithstanding any transfer of title to Macquarie to any Permitted Feedstock or Renewable Products or the quantity of any Eligible Renewables Inventory in a Specified Company Location, Macquarie shall not be obligated at any time to pay for any quantity of Permitted Feedstock or Renewable Product under Section 10.1 or 10.2 or otherwise hereunder to the extent such payment would relate to an aggregate quantity of Permitted Feedstock or such Renewable Products in the Included Locations and Specified Company Locations in excess of the then applicable maximum inventory level as set forth on Schedule D or as may have been temporarily adjusted under Section 7.9. In the event that Permitted Feedstock or Renewable Products or the quantity of any Eligible Renewables Inventory in a Specified Company Location exceeds the maximum inventory level as set forth on Schedule D, Macquarie will hold title to all Barrels of Permitted Feedstock and Renewable Products located in Included Permitted Feedstock Storage Tanks and the Included Renewable Product Tanks at the time without making payment for the same, and the Company will dispose of such Barrels of Permitted Feedstock and Renewable Products as soon as reasonably possible. 10.4 Invoices. (a) Invoices shall be provided to the Company by Macquarie not later than 6:00 pm EST on a Business Day (and if delivered thereafter shall be deemed delivered on the next succeeding Business Day) (b) If the Company in good faith disputes the amount of any invoice issued by Macquarie relating to any amount payable hereunder (including Interim Payments, Monthly True-Up Amounts or Ancillary Costs), the Company shall pay Macquarie the undisputed amount of such invoice by the due date and inform Macquarie in writing of the portion of the invoice with which it disagrees and why; the Company may retain such disputed amount pending resolution of such dispute. The Parties shall cooperate in resolving the dispute expeditiously. If the Parties agree that the Company does owe some or all of the disputed amount or as may be determined by a court pursuant to Article 25, the Company shall pay such amount to Macquarie, together with interest at the Fed Funds Rate from the date such amount was originally due, within two (2) Business Days from, as appropriate, the date of their agreement or the date of the final, non-appealable decision of such court. Following resolution of any such disputed amount, Macquarie shall issue a corrected invoice and any resi...
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Related to Maximum Inventory Levels

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

  • Eligible Inventory As to each item of Inventory that is identified by any Borrower as Eligible Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the end of any fiscal quarter ending on or after September 30, 2006, to be greater than the ratio set forth below opposite the fiscal quarter end: Fiscal Quarter Ending Ratio on or prior to December 31, 2008 6.50 to 1.0 thereafter but on or prior to December 31, 2010 6.00 to 1.0 after December 31, 2010 5.50 to 1.0

  • Inventory Adjustment (a) No more than three (3) days prior to Closing, a physical count of all saleable inventory, raw materials, castings, grates and other ancillary products included in the Seller Assets (the “Closing Inventory”) shall be carried out at the Designated Plants by representatives of each of the Seller and the Purchaser, which physical count shall be carried out in a manner mutually agreed upon by the parties. For the purposes of this Section 3.1(a), “saleable” inventory shall mean (i) finished goods, which are of first quality and saleable in the ordinary course without discount, and (ii) all raw materials, castings, grates and other ancillary products that are useable in the production of pipe and precast products or otherwise suitable for resale, unless obsolete, damaged or cosmetically impaired. The representatives of each of the Purchaser and the Seller shall attempt, in good faith, to resolve any disputes which may arise during the physical count of the inventory. Upon completion of the physical count of the inventory, the representatives of each of the Seller and the Purchaser shall agree upon and execute a statement setting forth either (i) the final physical count of the inventory in the event that the representatives agree on such final physical count or (ii) the final physical count of the inventory of each of the Seller and the Purchaser in the event that the representatives were unable to resolve in good faith any disputes during the physical inventory count, noting such items of dispute (the “Disputed Seller Inventory Items”) therein. The value of Closing Inventory shall be determined in accordance with the Inventory Methodology. In the event that there are any Disputed Seller Inventory Items, such Disputed Seller Inventory Items shall be resolved following the Closing pursuant to the dispute resolution procedures set forth in Section 3.2 and the final physical count agreed to by the parties or resolved pursuant to Section 3.2 shall be final and binding on the parties, including for purposes of determining the Closing Inventory. (b) No later than 90 days after the Closing Date (or if such day is not a Business Day, the next Business Day), the Purchaser shall deliver to the Seller a certificate executed by the

  • Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.

  • Minimum Amounts and Maximum Number of Eurodollar Tranches Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional prepayments of Eurodollar Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more than ten Eurodollar Tranches shall be outstanding at any one time.

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

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