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the status of such pipeline, third party carrier or third party storage facility as an Approved Inventory Location has been revoked upon ten (10) Business Days’ notice to the U.S. Borrower from the Administrative Agent, acting in its reasonable discretion.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.
Sample 1Sample 2Sample 3
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.
Sample 1Sample 2
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.
Sample 1Sample 2

Examples of Approved Inventory Location in a sentence

  • 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.

  • 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.

  • In any event, if any Gold (other than Gold (under and as defined in this Agreement), Processed Gold owned by the Consignee and Processed Gold to be returned to the owner thereof) shall at any time be located at a Plant or an Approved Inventory Location, the Consignee agrees that such Gold shall be transferred (by book entry or otherwise) as soon as practicable (and in any event no later than the next Business Day) to another facility of the Consignee's.

  • The Consignee further agrees that except for Gold (under and as defined in this Agreement), no other Gold that is not owned by the Consignor will be kept in a Plant or an Approved Inventory Location.

  • To the extent any Gold of any quality or fineness located at a Plant or any Approved Inventory Location becomes part of a product, Scotiabank shall only have and shall continue to have rights or interests in and to such product to the extent of an undivided interest in such product that is equal to the ratio that the cost of such Gold contained in such product or comprising a part thereof bears to the cost of such product.

  • In addition, Gold of any quality or fineness (including the Gold) located at a Plant or any Approved Inventory Location that becomes part of a product shall continue to be considered as being consigned to the Consignee hereunder to the same extent as if such Gold did not become part of a product and shall be subject to all the terms hereof and any other Consignment Document (including the continuation of title to such Gold in Scotiabank).


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.
Sample 1Sample 2
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.
Sample 1
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 Amendment Effective 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.
Sample 1
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.
Sample 1
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)(...
Sample 1

Related to Approved Inventory Location

  • Approved Location means the site for the operation of the Franchised Business selected by Franchisee and approved in writing by Franchisor;

  • 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 means any of the following inventory of goods, merchandise, or other inventory of Seller located at the Leased Premises: (a) all items in the Fresh Departments;

  • Product Inventory means all inventory of the Product owned by Seller or its Affiliates as of the Closing, including raw materials, work-in-process, bulk form drug and finished Product.

  • 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.

  • Qualified Inventory means all Raw Materials Inventory, Semi-Finished Goods and Scrap Inventory and Finished Goods Inventory held by a Credit Party in the normal course of business and owned solely by such Credit Party (per plant level records whereby manufactured items are valued at pre-determined costs and purchased items are valued at rolling average actual cost).

  • 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.

  • Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

  • 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.

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

  • 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.

  • 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 June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

  • 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.

  • 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 approved vendor list through the approved vendor list process.

  • 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:

  • Committed Equipment Line is a Credit Extension of up to Five Million Dollars ($5,000,000).

  • 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.