Base Inventory definition

Base Inventory means inventory consisting of raw materials as to which a Borrower has acquired title, and is otherwise in compliance with Section 6.5 Encumbrance, and the Borrowers have furnished to the Bank ----------- information as required by Section 5.1(b) hereof. Inventory immediately loses the status of Base Inventory if and when a Borrower sells it, otherwise passes title thereto or consumes it.

Base Inventory has the meaning ascribed thereto in Section 2.7.

Base Inventory meanss Thirteen Million Seven Hundred Thousand U.S. Dollars ($13,700,000).

Examples of Base Inventory in a sentence

• The sum of the values of the groups will be the value of the Base Inventory.

• The Inventory Team will code and group the items of inventory, materials and supplies included in the Base Inventory as "new," "reconditioned," "re-usable," and the like, and will value the groups based on CRC's material costs or other mutually agreeable methodology (excluding additives and overheads).

• To the extent that, after the Closing Date, any work is performed at the request and for the account of CSXT or NYC at the Altoona shop or the Hollidaysburg shop pursuant to Section 2.4(b), CSXT and NYC will not be charged for inventory and supplies used in such work up to an amount of inventory and supplies equal to 42% of the total value of the Base Inventory, but only to the extent that such work requires material and supplies of the types included in the Base Inventory.

• If and when a Base Account exists by virtue of constituting proceeds of Base Inventory, the Inventory giving rise to the Base Account automatically loses its status as Base Inventory.

• Smith, C.W., Resources Base Inventory of Kipahulu Valley below 2,000 feet, Maui, Hawaii.

More Definitions of Base Inventory

Base Inventory means $6,000,000.

Base Inventory meanss Four Million U.S. Dollars ($4,000,000).

Base Inventory means (i) with respect to Basis 184,671 barrels of crude oil and (ii) with respect to Howell 100,000 barrels of crude oix. "Basis" has the meaning assigned to such term in the opening paragraph of this Agreement.

Base Inventory means inventory (other than work-in-process) as to which a Borrower has acquired title, the Bank has acquired a valid and perfected first- priority security interest, and such Borrower has furnished to the Bank information relating thereto as provided in this Letter Agreement. Inventory immediately loses the status of Base Inventory if and when a Borrower sells it, otherwise passes title thereto or consumes it or the Bank releases or transfers its security interest therein. Anything herein to the contrary notwithstanding, Base Inventory shall exclude all inventory owned by K&D Magmotor Corp. unless and until it institutes a tracking system capable of reporting changes in its inventory on a monthly basis, which system shall be satisfactory to the Bank in its sole discretion.

Base Inventory means the Inventory held by the Purchased Business as of December 31, 2005, as derived from the unaudited financial statements of the Purchased Business as of December 31, 2005 and determined using GAAP consistently applied. Any non Medical Related Inventory that Vendor has that relates to a Product Family that Vendor has not sold in a bona fide transaction with a customer or used in manufacturing a product sold in a bona fide transaction with a customer since January 1, 2005 shall be valued at $0. The Inventory will be analyzed at the Product Family level and not at the part number level for this purpose. This calculation is set out in Section 3.5(b);

Base Inventory means Inventory comprised of citrus fruit juice and other fruit juice and juice concentrate, including pulp washes and other citrus beverages, other juice based, isotonic, and tea beverages owned by and (i) in the possession and under the control of either Borrower or (ii) located in a warehouse acceptable to the Bank in its sole discretion; and as to which such Borrower has acquired title and the Bank has acquired a perfected first priority Security Interest and such Borrower has furnished to the Bank the information required by Section 4.01 hereinbelow. Inventory immediately loses its status as Base Inventory if and when such Borrower either (i) sells it other than when selling it short on the futures market or pursuant to a forward contract, or (ii) otherwise passes title to it or consumes it or the Bank releases or ceases to have a perfected first priority Security Interest therein.

Base Inventory has the meaning specified in SECTION 3.6.