Eligible Finished Goods definition

Eligible Finished Goods the Eligible Inventory of the Company or any Subsidiary Guarantor that is classified, consistent with past practice, on the Company’s or such Subsidiary Guarantor’s accounting system as “finished goods” (including tote).

Eligible Finished Goods means, on any date, the Inventory Value of all Eligible Inventory of the Borrower and each other Grantor defined as Finished Goods by the Borrower on such date as shown on the Borrower’s perpetual inventory records in accordance with its current and historical accounting practices.

Eligible Finished Goods means, at any time, Eligible Inventory consisting of finished goods (other than Eligible Third Party Logistics Goods) which the Administrative Agent determines in its Permitted Discretion, following consultation with the U.S. Borrower (but without any requirement for the U.S. Borrower’s consent), is eligible for inclusion in the applicable Borrowing Base.

Examples of Eligible Finished Goods in a sentence

• Notwithstanding the foregoing, but without duplication, Eligible Finished Goods Inventory shall be reduced by the amount of any specific reserve established by the Borrower with respect to any Eligible Finished Goods Inventory other than the LIFO reserve maintained by the Borrower in accordance with generally accepted accounting principles.

• Eligible Finished Goods of the Company or any Subsidiary Guarantor (other than Eligible Special Markets Inventory and Eligible Tote Stores Inventory) that are not discontinued, damaged or returned and unsuitable for sale to the Company’s or such Subsidiary Guarantor’s primary retail customers.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

• Eligible Finished Goods Inventory, Eligible Work-in-Process and Eligible Raw Materials.

• When calculating the Eligible Receivables, Eligible Finished Goods, the Eligible Raw Materials or Trade Payables of any Obligor such calculation shall be made in the Local Currency of such Obligor.

More Definitions of Eligible Finished Goods

Eligible Finished Goods means Finished Goods which constitute Eligible Inventory.

Eligible Finished Goods means, Eligible Inventory constituting finished goods to be sold by the Loan Parties in the ordinary course of business, excluding Inventory constituting work-in-process, component Inventory or raw materials used or consumed by the Loan Parties in the ordinary course of business in the manufacture or production of other Inventory.

Eligible Finished Goods means the Eligible Inventory of the Borrower that is classified, consistent with past practice, on the Borrower’s accounting system as “finished goods”.

Eligible Finished Goods means, on any date, Eligible Inventory defined as Finished Goods by the Borrower or the Guarantors (as applicable) on such date as shown on the Borrower or the Guarantors' (as applicable) perpetual inventory records in accordance with its current and historical accounting practices.

Eligible Finished Goods has the meaning given to such term in Clause 6.10.

Eligible Finished Goods in relation to any Obligor, means an amount equal to the lower of cost and the market value of the Inventory of such Obligor which consists only of finished goods (as determined by reference to Applicable Accounting Principles) and which is:

Eligible Finished Goods means Finished Goods that are (i) first quality, (ii) located at plants and distribution centers owned by a Borrower, (iii) scheduled for delivery in the ordinary course of business, and (iv) otherwise constitute Eligible Inventory.