Allocated Inventory definition

Allocated Inventory means the Common and Non-Common Components that have been assigned to support Aircraft.
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Allocated Inventory means Inventory existing at the Closing Date that will be consumed in completing Customer Purchase Orders transferred to Buyer hereunder. For purposes hereof, in the event that Buyer does not assume, pursuant to Section 1.2(d) hereof, any Customer Purchase Order, any Inventory relating to such items shall not be deemed Allocated Inventory and shall be deemed Excess and Unallocated Inventory hereunder. Notwithstanding the foregoing, the following items of Inventory shall be deemed to be Excess and Unallocated Inventory and shall not be deemed Allocated Inventory: (i) Inventory relating to Customer Purchase Orders placed by Systech that are based on forecasts and are not supported by firm orders, (ii) Inventory relating to Customer Purchase Orders placed by Teloquint that are based on forecasts and are not supported by firm orders and (iii) Inventory relating to Customer Purchase Orders placed by Highway Master for amounts in excess of 100 product units per week over a period of one year.
Sample 1
Allocated Inventory means Inventory up to a maximum of Five Hundred Thousand Dollars ($500,000) value as identified on Schedule 1.2. For purposes of valuing the Allocated Inventory, all purchased component inventory and packaging material inventory shall be based on the invoice cost thereof and all finished goods inventory shall be valued at the internal cost paid by the Plasti-Chain division to PMC's plastics operation for such inventory.
Sample 1

Examples of Allocated Inventory in a sentence

  • The total value of Allocated Inventory will be calculated on the last day of the month.

  • The value of the Allocated Inventory on the last day of the month will be the basis for the payment due and such payment will be made in accordance with Section 3.2 of the Inventory Support Agreement.

  • Sun Country shall pay to Delta a monthly rate of 1.5% times the value of the Allocated Inventory provided to Sun Country at the mutually agreed to locations.

  • Delta shall utilize its existing inventory management system to manage, order, and track the Allocated Inventory.

  • The Allocated Inventory value is determined by the average list price of the Component in Delta’s inventory system times the total number of Components allocated.

  • Delta and Sun Country, as mutually agreed, will adjust the type and quantity of Allocated Inventory from time to time as necessary to meet program performance measures.

  • Delta may utilize any of the Allocated Inventory for its own needs, however, in such event, Delta shall use commercially reasonable efforts to replace such Allocated Inventory as soon as is practical.

  • Schedule 4.7(a) sets forth all items of Allocated Inventory as of September 30, 1999; Schedule 4.7(b) sets forth all items of Allocated Inventory as of December 31, 1999; Schedule 4.7(c) sets forth all items of Customer Inventory as of September 30, 1999; and Schedule 4.7(d) sets forth all items of Customer Inventory as of December 31, 1999 (the foregoing schedules are collectively referred to as "Schedule 4.7").

  • Cancellations of customer orders for goods to be fulfilled by Amherst Southwest from Allocated Inventory shall be handled by Amherst Southwest, at its sole cost and expense.

  • Other than inventory in excess of the Allocated Inventory and accounts receivable in excess of the Purchased Receivables, the Purchased Assets comprise all of the properties and assets used solely in the Business as of the Closing Date.


More Definitions of Allocated Inventory

Allocated Inventory has the meaning set forth in Section 2.1(b) below.
Sample 1
Allocated Inventory means that group of Components provided from time to time to Hawaiian by Delta to support Aircraft maintenance and operations.
Sample 1

Related to Allocated Inventory

  • Transferred Inventory has the meaning set forth in Section 1.1(e).

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • Eligible Inventory means, with respect to any Borrower, all Trailers (less than ten years old), Aircraft and Aircraft engines complying with Stage III noise reduction requirements, Railcars (less than twenty-five years old), marine containers (less than ten years old), and, if approved by the Requisite Lenders, other related Equipment, in each case that (a) is owned of record by such Borrower or a Marine Subsidiary of such Borrower (or jointly by such Borrower and one or more of the other Borrowers) or, subject to the approval of Agent, any Owner Trustee of which such Borrower is the sole beneficiary or owner (or is the beneficiary or owner jointly with one or more of the other Borrowers), as applicable, (b) is subject to a Lease acceptable to Agent in its sole discretion (as reviewed in full in connection with each requested borrowing hereunder), which Lease shall, at a minimum, (A) be non-cancelable, (B) be with a lessee of acceptable credit quality as determined by Agent, and (C) be of a firm term in excess of one (1) year, except that cargo-containers and Trailers may be on Utilization Leases; (c) has a value and marketability reasonably satisfactory to the Agent; and (d) is free and clear of all Liens, except (i) any interest of a lessee thereof pursuant to a Lease entered into with such Borrower or a Marine Subsidiary of such Borrower or such Borrower’s or such Marine Subsidiary’s predecessor in interest or such Owner Trustee or nominee entity, as lessor, or (ii) as otherwise permitted by Section 6.1, provided that any Liens of the type permitted under clause (ii) encumbering any item of Equipment shall not secure obligations in amounts which materially impair the equity value in such item of Equipment. Requisite Lenders in their sole discretion, on a case by case basis, may approve other items or types of Equipment for credit under "Eligible Inventory" from time to time. Equipment which is Eligible Inventory will cease to be Eligible Inventory at any time it no longer continues to meet all of the above requirements.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Obsolete Inventory means items that have expired, are redundant or

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Inventory Value means with respect to any Inventory of a Loan Party at the time of any determination thereof, the standard cost determined on a first in first out basis and carried on the general ledger or inventory system of such Loan Party stated on a basis consistent with its current and historical accounting practices, in Dollars, determined in accordance with the standard cost method of accounting less, without duplication, (i) any markup on Inventory from an Affiliate and (ii) in the event variances under the standard cost method are expensed, a Reserve reasonably determined by the Agent as appropriate in order to adjust the standard cost of Eligible Inventory to approximate actual cost.

  • Excess Concentration means the sum of the following amounts, without duplication:

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Net Book Value means the net book value of the relevant Supplier Asset(s) calculated in accordance with the depreciation policy of the Supplier set out in the letter in the agreed form from the Supplier to the Costumer of even date with this Call Off Contract;

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Excess Collateral has the meaning set forth in Section 5.7.

  • Finished Goods means completed goods which require no additional processing or manufacturing to be sold to third party customers by the Loan Parties in the ordinary course of business.

  • Stored value means monetary value that is evidenced by an electronic record.

  • Inventory Reserves means such reserves as may be established from time to time by the Administrative Agent, in its reasonable commercial discretion exercised in good faith and not inconsistent with past practice, with respect to changes in the determination of the salability, of the Eligible Inventory (or Eligible In-Transit Inventory, as the case may be) or which reflect such other factors as negatively affect the market value of the Eligible Inventory, but without duplication of any Tax Stamp Reserves.

  • Excluded Equipment means (i) defibrillators, enhanced emergency medical kits and other medical equipment, (ii) airphones and other components or systems installed on or affixed to the Airframe that are used to provide individual telecommunications or electronic entertainment to passengers aboard the Aircraft, (iii) galley carts, beverage carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley inserts, and other branded passenger convenience or service items, (iv) any items, equipment or systems leased by Company or any Permitted Lessee (other than items, equipment, or systems that are leased from Company pursuant to the applicable Lease) or owned by Company or any Permitted Lessee subject to a conditional sales agreement or a security interest (other than the security interest granted under the Indenture), and (v) cargo containers.

  • Inventory Reserve means reserves established by the Administrative Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

  • Raw Materials means all raw materials, supplies, components and packaging necessary to manufacture and ship the Product in accordance with the Specifications, as provided in Exhibit A, but not including the API.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).