Eligible FF&E means FF&E owned by a Borrower or a Canadian Loan Party and deemed by the Administrative Agent in its reasonable discretion to be eligible for inclusion in the calculation of the Borrowing Base, in each case that, except as otherwise agreed by the Administrative Agent, complies with each of the representations and warranties respecting FF&E made by the Borrowers and the Canadian Loan Parties in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the criteria set forth below. Except as otherwise agreed by the Administrative Agent, the following items of FF&E shall not be included in Eligible FF&E:
Eligible FF&E means, as of the date of determination thereof, without duplication, items of FF&E of a Loan Party that are in good order, repair, running (to the extent applicable) and marketable condition, in each case that is not excluded as ineligible by virtue of one or more of the criteria set forth below. Eligible FF&E shall not include any FF&E:
Eligible FF&E means FF&E owned by Borrowers and used by Borrowers in the Ordinary Course of Business that Agent, in its good faith credit judgment and discretion, deems to be Eligible FF&E. Without limiting the generality of the foregoing, no FF&E shall be Eligible FF&E if:
Examples of Eligible FF&E in a sentence
Eligible FFE includes, but is not limited to; shelving, racks, tables, chairs, point-of-sale systems, fixed computer equipment used in business operation, office furniture, and appliances.
Eligible FFE includes, but is not limited to, shelving, racks, tables, chairs, point-of-sale systems, fixed computer equipment used in business operation, office furniture, and appliances.
Eligible FF&E items include movable furniture and items that are not permanently affixed to a wall, ceiling or facility.
Eligible FFE includes, but is not limited to, shelving, racks, fixed computer equipment used in business operation, manufacturing/assembly equipment used in every-day operation of the business, and office furniture.
Eligible FFE includes, but is not limited to, shelving, racks, tables, chairs, furniture, point-of-sale systems, fixed computer equipment used in business operation, manufacturing/assembly equipment used in every-day operation of the business, and office furniture.
More Definitions of Eligible FF&E
Eligible FF&E means, at any time of determination thereof, all fixtures, furniture and equipment (collectively, `FF&E') of the Borrower or any Subsidiary of the Borrower that is a Subsidiary Guarantor as to which each of the following requirements has been fulfilled to the reasonable satisfaction of the Administrative Agent (which requirements shall be deemed to have been fulfilled to the reasonable satisfaction of the Administrative Agent unless the Administrative Agent shall have otherwise notified the Borrower in writing):
Eligible FF&E. Not applicable.
Eligible FF&E means, as of the date of determination thereof, the Equipment owned by a Borrower and deemed by the Administrative Agent in its Permitted Discretion to be eligible for inclusion in the calculation of the Borrowing Base, in each case that, except as otherwise agreed by the Administrative Agent, (i) complies with each of the representations and warranties respecting Equipment owned by the Borrowers in the Loan Documents, and (ii) satisfies each of the following criteria set forth below:
Eligible FF&E means, as of any date of determination thereof, all furniture, fixtures and equipment owned by the Loan Parties for which Agent shall have received an appraisal (based upon Appraised Value) of such furniture, fixtures and equipment by an appraiser engaged by Agent (and in form and substance reasonably satisfactory to Agent), deemed by the Agent in its discretion to be eligible for inclusion in the calculation of the Term Loan Borrowing Base, in each case that, except as otherwise agreed by the Agent, (A) complies with each of the representations and warranties respecting furniture, fixtures and Equipment made by the Loan Parties in the Loan Documents, and (B) is not excluded as ineligible by virtue of one or more of the criteria set forth below. Except as otherwise agreed by the Agent, in its discretion, the following items of furniture fixtures and equipment shall not be included in Eligible FF&E:
Eligible FF&E means the items of furniture, trade fixtures, equipment and other personal property to be used in the operation by Company of its business that, upon acquisition thereof by Borrower, satisfy all of the requirements to constitute, and conform to all of the representations and warranties applicable to, Purchased FF&E hereunder.
Eligible FF&E means, as of any date of determination, the aggregate net book value (calculated in accordance with GAAP) of the furnishings, furniture and equipment of the Borrower and its Subsidiaries in which the Administrative Agent, for the benefit of the Lenders and the Issuing Bank, has a first priority perfected security interest, excluding (a) leasehold improvements and any other property so affixed to real estate as to become a fixture, (b) property that is obsolete or worn-out, and (c) intangible items, such as capitalized software development costs.
Eligible FF&E means all of the equipment, fixtures, furniture, furnishings and goods that are (a) Designated FF&E (or such other equipment, fixtures, furniture, furnishings and goods as may be reasonably acceptable to Administrative Agent), (b) owned by a Borrower (or to be owned by a Borrower upon or immediately following funding of the related Term Delayed Draw Loan hereunder) and (c) reflected in the most recent Borrowing Base Certificate delivered to Administrative Agent in connection with a Term Delayed Draw Loan pursuant to subsection 2.1, except any equipment, fixtures, furniture, furnishings and goods to which any of the exclusionary criteria set forth below applies (which may not be included in the Borrowing Base Certificate). Administrative Agent shall have the right, in consultation with the Borrowers, to establish, modify or eliminate Reserves against Eligible FF&E from time to time in its reasonable credit judgment. Eligible FF&E funded by any Term Delayed Draw Loan shall not include any equipment, fixtures, furniture, furnishings and goods of any Borrower, as the case may be, that: