Available Inventory definition

Available Inventory means, at any time the sum of:

Available Inventory means, on any date, the lesser of (i) an amount equal to (x) the product of (1) 65% multiplied by (2) the sum of Eligible Inventory, less Inventory Reserves, less (y) Rent Reserves and (ii) 85% of the product of (x) the Net Recovery Rate in effect for the Inventory (based on the then most recent independent inventory appraisal) on such date of determination, multiplied by (y) the aggregate amount of gross domestic Inventory and Mexican Inventory (as reported in accordance with the Borrower’s general ledger and inventory system at such date of determination) as set forth in the most recent Borrowing Base Certificate.

Available Inventory means the LNG inventory available with PLL in relation to the Terminal.

Examples of Available Inventory in a sentence

• The deduction of the Borrowed Inventory Quantity from the Available Inventory of a Lender User shall occur at the moment of delivery of Gas for the account of a Borrower User at the Gas Delivery Point.

• In order to facilitate the provisions of this Clause 4, Operator shall from time to time calculate and notify to all Users the aggregate Available Inventory of all Users with Capacity in the relevant Reference Period.

• Each User may be required to lend a portion of its Available Inventory for the purposes of enabling continuous send-out of Regasified LNG during a Reference Period at the Reference Regasification Rate to all Users with Capacity in such Reference Period.

• No User shall agree to lend or borrow all or any part of its Available Inventory on a voluntary basis.

• If there is more than one (1) Lender User, any borrowing shall be apportioned between or among (as applicable) the multiple Lender Users on a pro-rata basis (save where the Reference Regasification Rate determined by Operator requires an apportionment other than a pro-rata basis) based upon the Available Inventory of each Lender User.

More Definitions of Available Inventory

Available Inventory means the inventory of Products available at a Motorola facility (including Motorola’s Affiliates and subcontractors) and/or in a Hub (if applicable), to be used to satisfy Backlog and Gross Demand.

Available Inventory at any date of determination shall be equal to the lesser of (i) an amount equal to 65% of Adjusted Eligible Inventory, less Rent Reserves or (ii) 85% of the product of (x) the Net Recovery Inventory Liquidation Rate in effect (based on the then most recent independent inventory appraisal) on such date of determination multiplied by (y) the aggregate amount of adjusted gross domestic Inventory of the Loan Parties as set forth in the most recent Borrowing Base Certificate.

Available Inventory means in respect of a User, at any given time, the quantity (in m3, MMBtu and kWh) that represents LNG and Regasified LNG held for such User’s account at the Terminal, excluding Expected Internal Use in respect of the relevant Reference Period, as notified by the Operator to such User from time to time.

Available Inventory means, for an individual B&L User, the quantity (in kWh) at the end of each Day, being available for lending by a potential Lender, which is calculated as the remaining quantity of LNG (in kWh) already unloaded within the Contract Year by a B&L User at the LNG Receipt Point (after taking into account vapour returned to LNG Carriers during the unloading of such LNG), minus any replenishment of the LNG Operational Heel, minus the quantity that is lent as per clause 4.2(b), minus Retainage minus Daily Actual Sendout taken by that B&L User within the Contract Year; if the above calculation is negative then the Available Inventory shall be zero.

Available Inventory means, at any time, the lesser of (a) 75% (5% in the case of “stores inventory”) of each Category of Eligible Inventory and (b) the product of (x) 85% (70% in the case of High Seas Inventory) of the Orderly Liquidation Value Rate multiplied by (y) each Category of Eligible Inventory; provided that (i) Available Inventory shall in no event exceed 75% of Eligible Inventory, (ii) the amount of Available Inventory in respect of High Seas Inventory shall at no time exceed $150,000,000 and (iii) the amount of Available Inventory in respect of “stores inventory” shall at no time exceed $15,000,000.

Available Inventory at any date of determination shall be equal to the lesser of (i) an amount equal to 65% of each of Adjusted Eligible Finished Goods, Adjusted Eligible Work in Process and Adjusted Eligible Raw Material, less (d) Rent Reserves or (ii) 85% of the product of (x) the Net Recovery Liquidation Rate in effect (based on the then most recent independent inventory appraisal) on such date of determination multiplied by (y) the aggregate amount of gross domestic Inventory (as reported in accordance with the Company's perpetual inventory system at such date of determination) as set forth in the most recent Borrowing Base Certificate.

Available Inventory means, at any time, the lesser of (i) 70% of each Category of Eligible Inventory and (ii) the product of (x) 85% of the Orderly Liquidation Value Rate multiplied by (y) each Category of Eligible Inventory.