Applicable Inventory definition

Applicable Inventory means the raw materials, work-in-progress, finished goods, ingredients, packaging, and other similar inventories owned by any Seller and used exclusively in the Business, but excludes (i) goods in transit and inventory held internationally and (ii) the right to receive any raw materials or ingredients to be delivered following the Closing pursuant to any open and unpaid purchase order that constitutes a Transferred Contract.
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Applicable Inventory means, with respect to a Premises, Inventory of any Borrower that on the Revolver Trigger Date is located at or in-transit to such Premises.
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Applicable Inventory means, with respect to any Refinery, Inventory owned by any Grantor that is located at (or in transit to) such Refinery (whether such Inventory is acquired prior to or after the Trigger Date) and on which the Revolving Collateral Agent holds a Senior Lien.
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Examples of Applicable Inventory in a sentence

  • Upon satisfaction of the conditions set forth in this Section 17.15(c), Agent shall execute and deliver an Applicable Inventory Limit Reduction Letter to Administrative Borrower and the applicable Plant Loan Party setting forth the amount of the permanently reduced Applicable Inventory Limit for such Plant Loan Party.

  • Upon receipt of each new Inventory Appraisal, the Administrative Agent shall be entitled to adjust the Applicable Inventory Percentage, as appropriate.

  • At the Closing, the parties will append to this Agreement a schedule setting forth the Applicable Inventory Date and the Effective Time (as defined below) for each of the Stores.

  • Not permit inventory receipts for each week ending as of the dates set forth in the table below, measured on a cumulative basis from and after the Sixth Amendment Closing Date, to be less than the Applicable Inventory Percentage (as set forth in the table below) of the projected cumulative inventory receipts amount for such week(s) set forth in the Obligors’ forecast delivered to the Agent, each Co-Collateral Agent and the Tranche A-1 Documentation Agent on the Sixth Amendment Closing Date.

  • If any Applicable Inventory will remain at such Premises at the end of such Disposition Period, then, as soon as possible but in no event later than the end of such Disposition Period, the Revolver Agent shall provide the Term Agent with written notice that the Revolver Agent and the Revolver Lenders elect to abandon such Inventory.

  • Inventory Formula Amount - on any date of determination thereof, an amount equal to the least of (i) $62,500,000, (ii) the sum derived by multiplying the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Finished Goods and the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Raw Materials, or (iii) the Appraised NOLV as of such date.

  • Inventory Formula Amount – on any date of determination thereof, an amount equal to the least of (i) $50,500,000, (ii) the sum derived by multiplying the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Finished Goods and the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Raw Materials, or (iii) the Appraised NOLV as of such date.

  • Article 1 of the Credit Agreement is amended as follows: (i) The definitions of "Applicable Inventory Advance Rate", "Revolving Credit Casual Male Companies Inventory Advance Rate" and "Revolving Credit RBT Inventory Advance Rate" are hereby ▇▇▇nded to extend the Rate which is applicable through December 15, 2005 to February 1, 2006.

  • Each Borrower acknowledges that the Applicable Accounts Percentage and the Applicable Inventory Percentage have been established based upon Agent's initial determination of the loan value of each Borrower's Eligible Accounts and Eligible Inventory as of the date of this Agreement.

  • There shall have been no material adverse change in the financial condition, results of operations, cash flows, assets, liabilities, business or operations of the Seller during the period between January 2, 1999 and the last Applicable Inventory Date, except for such changes as are attributable solely to acts or omissions of Buyer after each Store's Applicable Inventory Date.


More Definitions of Applicable Inventory

Applicable Inventory has the meaning set forth in Section 3.3(b).
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Related to Applicable Inventory

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;

  • 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.

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

  • 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.