Security for Consigned Inventory Sample Clauses

Security for Consigned Inventory. Distributor irrevocably authorizes CoreLink at any time and from time to time to (a) file (or to the extent required by applicable law, Distributor agrees to execute) Uniform Commercial Code financing statements and amendments thereto and consents to the public filing thereof to evidence the consignment of Consigned Inventory hereunder and (b) notify existing holders of security interests of record in inventory of Distributor, as provided in the Uniform Commercial Code with respect to purchase money security interests. Consignee shall not pledge or encumber the Consigned Inventory and shall provide CoreLink with a listing of at locations at which the Products and Instruments are located. Distributor hereby grants to CoreLink a security interest in and lien on all of the following, wherever located and whether now or hereafter existing or now owned or hereafter acquired or arising: (i) all goods consigned or sold to Distributor Consignee by CoreLink, (ii) all accounts, contract rights, chattel paper and any other rights to the payment of money and security therefor, now or hereafter arising from the sale, consignment or other transfer by Distributor of any such goods and (iii) all replacements, returns, substitutions, additions, accessions and proceeds of the items described in (i) and (ii) above.
Sample 1
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Related to Security for Consigned Inventory

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

  • Returned Inventory If an Account Debtor has an authorized return and returns any Inventory covered by such return to such Grantor when no Event of Default exists, then such Grantor shall promptly determine the reason for such return and shall issue a credit memorandum to the Account Debtor in the appropriate amount. Such Grantor shall deliver a monthly report to the Administrative Agent setting forth all such returns involving an amount in excess of $10,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) dispose of the returned Inventory solely according to the Administrative Agent’s written instructions; and (iii) not issue any credits or allowances with respect thereto in an amount exceeding $500,000 in the aggregate during any Fiscal Month without the Administrative Agent’s prior written consent. All returned Inventory shall be subject to the Administrative Agent’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory unless such Inventory constitutes Third Party Logistics Goods.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Inventory and Equipment with Bailees Store the Inventory or Equipment of Parent, Borrowers or their respective Subsidiaries at any time now or hereafter with a bailee, warehouseman, or similar party.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Merchantable Inventory All Inventory is in all material respects of good and marketable quality, free from all material defects.

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