Discontinued Inventory definition

Discontinued Inventory as of any date, Inventory held for sale but not included in the current catalog of the Parent Borrower or any of its Restricted Subsidiaries as of such date.
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Discontinued Inventory. Audio (Dept#12) Video (Dept#24) Television (Dept# 28) Car (Dept# 32) Portables (Dept# 42) Home Office (Dept# 52) Computer (Dept # 57) ______________________ Total Discontinued LIMIT: 12% NET INVENTORY ---------------------------------------------------------- EXCESS DISCONTINUED INVENTORY OTHER RESTRICTED INVENTORY: Service/Parts (Loc#s 70-75 & 79) Cellular Phones (Dept #35) Promotion Items (Dept# 69) 3rd Party Warranty (Dept# 71) Custom Items (Dept#65) ______________________ Total Other Restricted Items LIMIT: 12% NET INVENTORY ---------------------------------------------------------- EXCESS OTHER RESTRICTED INVENTORY The undersigned, as an authorized officer or representative of Borrower, hereby certifies that (1) all information set forth in this Borrowing Base Certificate is true and correct in all material respects, (2) all Acceptable Inventory (as defined in the Credit Agreement) is not subject to any lien, security interest or encumbrance except those in favor of the Lender, (3) that Borrower is in compliance of all of the terms and conditions of the Credit Agreement and that there is no Event of Default (as defined in the Credit Agreement) or event that, with notice or the passage of time, or both, would constitute an Event of Default under the Credit Agreement, and (4) all the representations and warranties set forth in the Credit Agreement are true and correct as of the date hereof. 45 ULTIMATE ELECTRONICS, INC. By:______________________________ Name:____________________________ Title:___________________________ EXHIBIT B (Attached to and forming a part of the Credit Agreement between Ultimate Electronics, Inc. and Norwest Business Credit, Inc. and Norwest Bank Colorado, National Association)
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Discontinued Inventory has the meaning given in Section 5.4.
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Examples of Discontinued Inventory in a sentence

  • BUY and BP will review Discontinued Inventory on a monthly basis.

  • Within [***] of receipt of such Discontinued Inventory listing, BUY will generate a BUY Order to BP for all Products or Additional Products or items reflected in the Discontinued Inventory listing.

  • Within [***], BP will provide to BUY a listing of Discontinued Inventory on hand at BP for the prior month.

  • With the large amount of IT in use by thesemining companies, there is always the need to store huge quantities of data.

  • BP will invoice BUY for Discontinued Inventory in the amount of [***].

  • Title of ownership and risk of loss in such Discontinued Inventory will transfer to BUY as specified in Section 3.6 above, and BUY shall pay to BP all invoiced amounts for such Discontinued Inventory and items as specified in Section 5.2 above.

  • If BUY elects to scrap any Excess Inventory or Discontinued Inventory, BUY must provide to BP, in writing, a BUY Order with a listing of such inventory to be scrapped within [***] of receipt of the monthly Excess Inventory calculation or Discontinued Inventory listing.

  • The Chief Executive Officer, Mr Brien advised that Groove in the Moo was a three (3) year proposal and next year was the third year.

  • As used in this Agreement the term "Discontinued ---------------------- Inventory" shall refer to any Products or Additional Products, raw material or finished good item for which BUY has no forecasted usage based on the most recent Forecast or which has been designated in writing to BP as "Discontinued Inventory" by BUY.

  • Unless designated in writing by BUY as Discontinued Inventory, those Products or Additional Products ordered by BP in excess of the applicable Forecast shall not be considered Discontinued Inventory.

Related to Discontinued Inventory

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

  • 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;

  • 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, 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.

  • 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.

  • 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.

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

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • 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).

  • 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.

  • 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.

  • Finished Goods means units of a manufactured product awaiting sale.

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

  • Finished grade means the approved elevation of ground surface of lands upon which fill has been placed in accordance with this By-law;

  • 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).

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or xxxx with respect thereto has not yet been sent to the Obligor thereof.

  • Inventory Tracking System means the required tracking

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Eligible Unbilled Receivable means, at any time, any Unbilled Receivable if (a) the related Originator has recognized the related revenue on its financial books and records under GAAP, and (b) not more than thirty (30) days have expired since the date such Unbilled Receivable arose.

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

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Net Book Value means the net book value of the relevant Supplier Asset(s) calculated in accordance with the depreciation policy of the Supplier set out in the letter in the agreed form from the Supplier to the Costumer of even date with this Call Off Contract;

  • Obsolete means a product that may be listed in national drug pricing compendia but is no longer available to be dispensed based on the expiration date of the last lot manufactured.

  • Field emission equipment means equipment which uses an x-ray tube in which electron emission from the cathode is due solely to the action of an electric field.

  • Receivables Reserves mean such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the collectability in the ordinary course of Eligible Accounts Receivables, including, without limitation, reserves for dilution.