Approved Inventory Location definition

Approved Inventory Location. (a) any pipeline or storage facility owned by any Loan Party and (b) any other pipeline, third-party carrier or third party storage facility that (i) (A) within forty-five (45) days after the Restatement Effective Date, has been sent notice of the Administrative Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility in accordance with the U.S. Security Agreement or the Canadian Security Documents, as applicable, or (B) within forty-five (45) days after the Closing Date, was sent notice of the Administrative Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility in accordance with the U.S. Security Agreement (as defined in the Existing Credit Agreement) and (ii) (A) is identified on Schedule 1.1(A) (the “Approved Inventory Location Schedule”) or (B) has been approved by the Administrative Agent, in its sole discretion (exercised in good faith), from time to time after the Restatement Effective Date, unless in each case, the status of such pipeline, third party carrier or third party storage facility as an Approved Inventory Location has been revoked upon ten (10) Business Days’ notice to the U.S. Borrower from the Administrative Agent, acting in its reasonable discretion. The Approved Inventory Location Schedule shall be deemed amended to include such Approved Inventory Locations without further action immediately upon the Administrative Agent’s approval.
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Approved Inventory Location. (a) any pipeline or storage facility owned by any Loan Party and (b) any other pipeline, third-party carrier or third party storage facility that (i) within forty-five (45) days after the Closing Date, has been sent notice of the Administrative Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility in accordance with the Security Agreement, and (ii) (A) is identified on Schedule 1.1(A) (the “Approved Inventory Location Schedule”) or (B) has been approved by the Administrative Agent, in its sole discretion (exercised in good faith), from time to time after the Closing Date, unless in each case, the status of such pipeline, third party carrier or third party storage facility as an Approved Inventory Location has been revoked upon ten (10) Business Days’ notice to the Borrower from the Administrative Agent, acting in its reasonable discretion. The Approved Inventory Location Schedule shall be deemed amended to include such Approved Inventory Locations without further action immediately upon the Administrative Agent’s approval.
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Approved Inventory Location means any location set forth under the appropriate heading on Exhibit A, and each other location previously approved by Scotiabank from time to time.
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Examples of Approved Inventory Location in a sentence

  • Scotiabank will assume all risk of loss or damage to the Gold until it has been delivered to a Plant or, if applicable, an Approved Inventory Location at which time such risk shall pass to the Consignee.

  • If Scotiabank delivers written notice to the Consignee setting forth Scotiabank's reasonable belief that an Approved Inventory Location offers inadequate safekeeping protection for the Gold, the Consignee shall transfer all Gold contained at such Approved Inventory Location to a Plant or another Approved Inventory Location within 10 days following receipt of such notice.


More Definitions of Approved Inventory Location

Approved Inventory Location any pipeline, third-party carrier or storage facility that (i) has acknowledged the Collateral Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or storage facility pursuant to an acknowledgement substantially in the form of Annex 2 to the Security Agreement, or pursuant to another waiver or acknowledgment having substantially the same effect, (ii) is owned by the same Person as is described in clause (iii) hereof, or (iii) has been notified of, and has been requested to acknowledge, the Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third-party carrier or storage facility, substantially in the form of Annex 2 to the Security Agreement, and, in the case of clause (iii), which has (A) been approved as of the Closing Date and set forth on Schedule 1.1(C) as an Approved Inventory Location or (B) been approved by the Administrative Agent, in its sole discretion, from time to time after the Closing Date. Schedule 1.1(C) shall be deemed amended to include such Approved Inventory Locations without further action immediately upon the Administrative Agent’s approval.
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Approved Inventory Location any pipeline, third-party carrier, terminal or other storage facility that has been notified of the Perfected First Lien on the inventory owned by the Borrower located in or at such pipeline, third-party carrier, terminal or other storage facility, pursuant to a written notice substantially in the form of Annex 2-A or Annex 2-B, as applicable, to the Security Agreement (or such other form otherwise acceptable to the Collateral Agent), and, (a) if such pipeline, third-party carrier, terminal or other storage facility is located in the United States or Canada, which has been approved by the Administrative Agent, in its sole discretion, (i) as of the Amended and Restated Effective Date and set forth on Schedule 1.1A as an Approved Inventory Location or (ii) from time to time after the Amended and Restated Effective Date and (b) if such pipeline, third-party carrier, terminal or other storage facility is located outside of the United States or Canada, which has been approved by the Administrative Agent and the Required Lenders, in their respective sole discretion, from time to time after the Amended and Restated Effective Date, provided that, in each case (with respect to clauses (a) and (b) above), at the request of the Collateral Agent, each such storage facility, carrier, bailee or consignee shall also have delivered a written acknowledgment of such notice to the Collateral Agent. Schedule 1.1A shall be deemed amended to include any additional Approved Inventory Locations after the Amended and Restated Effective Date without further action immediately upon the Administrative Agent's approval. The Administrative Agent will provide to each Lender, upon any Lender's reasonable request, an updated Schedule 1.1A.
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Approved Inventory Location each location in the United States or Canada (other than in the Province of Quebec) where Inventory may be stored that, upon the request of any Borrower, is approved by the Administrative Agent in its reasonable discretion, which locations shall as of the Closing Date be those listed on Schedule 5.16(c) attached hereto; provided, that without any action by any Borrower, the Administrative Agent in its reasonable discretion may at any time and for any reason add or eliminate any location to Schedule 5.16(c). Schedule 5.16(c) shall be deemed amended without further action by any Person immediately upon Administrative Agent’s approval in writing of any revisions thereto.
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Approved Inventory Location. (a) any pipeline or storage facility owned by any Loan Party and (b) any other pipeline, third-party carrier or third party storage facility that (i) has been sent notice of the Administrative Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility in accordance with the U.S. Security Agreement or the Canadian Security Documents, as applicable, and (ii) (A) is identified on Schedule 1.1(A) (the “Approved Inventory Location Schedule”) or (B) has been approved by the Administrative Agent, in its sole discretion (exercised in good faith), from time to time after the RestatementThird Amendment Effective Date, unless in each case, the status of such pipeline, third party carrier or third party storage facility as an Approved Inventory Location has been revoked upon ten (10) Business Days’ notice to the U.S. Borrower from the Administrative Agent, acting in its reasonable discretion. The Approved Inventory Location Schedule shall be deemed amended to include such Approved Inventory Locations without further action immediately upon the Administrative Agent’s approval. “Approving Lender”: as defined in Section 4.22(a). “Approved Organizational Changes”: as defined in Section 11.30. “Arrangers”: the Lead Arranger, BNP Paribas Securities Corp., Citizens Bank, N.A. Coöperatieve Rabobank U.A., New York Branch, Société Générale, Santander Bank, N.A. and Xxxxx Fargo Securities, LLC. “Asset Sale”: any conveyance, sale, lease, sub-lease, assignment, transfer or other disposition of property or series of related sales, leases or other dispositions of property (excluding any such sale, lease or other disposition permitted by Section 8.6) which yields Net Cash Proceeds to any Borrower or any other Loan Party (valued at the initial principal amount thereof in the case of non-cash proceeds consisting of notes or other debt securities and valued at fair market value in the case of other non-cash proceeds) in excess of $5,000,000. “Assignee”: as defined in Section 11.7(c). “Assignment and Acceptance”: as defined in Section 11.7(c). “Assignment of Claims Act”: the Federal Assignment of Claims Act of 1940 (31 X.X.X. §0000 et seq.) and any similar state or local laws, together with all rules, regulations, interpretations and binding court decisions related thereto. “Auto-Renewal Letter of Credit”: as defined in Section 3.4(c). “Availability Certification”: as defined in Section 6.2(e)(...
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Approved Inventory Location. (a) any pipeline or storage facility owned by any Borrower and (b) any other pipeline, third-party carrier or third party storage facility that (i) within forty-five (45) days after the Closing Date, has been notified of the Collateral Agent’s Perfected First Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility in accordance with the New York Security Agreement and the Canadian Security Agreement, and (ii)(A) is identified on a schedule provided by the Administrative Agent to the Borrowers’ Agent on or before the Closing Date (the “Approved Inventory Location Schedule”) or (B) has been approved by the Administrative Agent, in its sole discretion, from time to time after the Closing Date, unless in each case, the status of such pipeline, third party carrier facility or third party storage facility as an Approved Inventory Location has been revoked upon ten (10) Business Days’ notice from the Administrative Agent, acting in its reasonable discretion, to the Borrowers’ Agent. The Approved Inventory Location Schedule shall be deemed amended to include such Approved Inventory Locations without further action immediately upon the Administrative Agent’s approval.
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Related to Approved Inventory Location

  • Approved Location means (a) a storage terminal or facility located in the United States or Canada owned by the Borrower or a Subsidiary; or (b) other storage location located in the United States or Canada identified by the Borrower by notice to the Administrative Agent for which, if requested by the Administrative Agent, the Borrower has used commercially reasonable efforts to cause the owner, operator or landlord thereof to execute and deliver, a waiver of lien, subordination agreement or similar agreement in form and substance reasonably acceptable to the Administrative Agent with respect to any inventories of Petroleum Products stored at such terminal or facility.

  • 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.

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

  • 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).

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • 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 Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (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 Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • 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 Borrower’s business.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • SITE / LOCATION means any Site where BHARAT PETROLEUM CORPORATION LTD. desires to receive materials any where in India as mentioned in RFQ.

  • 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.

  • Worksite location means a construction site or other temporary worksite in this state at which the employer provides services for more than twenty days during the calendar year. "Worksite location" does not include the home of an employee.

  • Retail location means a facility listed under NFPA 1124, 7.1.2.

  • Project Location means the points or areas designated as such on Exhibit A and located on the ground by reference to points, stations, natural land features, improvements, or area boundary signs. STATE means the Oregon Department of Forestry, State Forester, or a duly Authorized Representative of the State Forester.

  • Off-Site Location means any real property other than the Real Property.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated January 22, 2008 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraiser firm pursuant to Section 9.2(b).

  • Inventory Formula Amount means the lesser of (i) 65% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.

  • Fixed location means a permanent place of doing business in this state, such as an office, warehouse, storefront, or similar location owned or controlled by an employer.

  • Approved Vendor means a person who has been approved for inclusion on an

  • Inventory Value has the meaning set forth in Section 2.1.

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

  • Inventory control system means a system described in Section 4-41a-103.

  • Anchor location means the physical location from which:

  • Approved List means Securities followed by the Global Fundamental Research Group and tracked on the Approved List. Securities may be added, removed, or undergo periodic ratings changes.

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

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.