Eligible Finished Goods Inventory definition

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of finished goods held for sale in the ordinary course of Borrowers’ business.

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

Eligible Finished Goods Inventory means and includes Inventory, excluding work in process and ATS Inventory, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in-first-out basis, that is not, in Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and that Agent, in its Permitted Discretion, does not deem to be ineligible 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). In addition, Inventory shall not be Eligible Finished Goods Inventory if it: (a) does not conform to all applicable standards imposed by any Governmental Body that has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than in transit between locations of the Borrowers and/or Guarantors, which locations are in the United States); (c) is located outside the United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim that Agent determines in its Permitted Discretion could have an adverse impact on the ability to sell or otherwise dispose of or realize upon such Inventory or the value thereof; (f) is subject to a License Agreement or other agreement that limits, conditions or restricts any 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 (g) is situated at a location not owned by a Borrower unless (i) the owner or occupier of such location has executed a Lien Waiver Agreement or (ii) Agent, in its sole discretion, establishes a Landlord Reserve in lieu of a Lien Waiver Agreement.

Examples of Eligible Finished Goods Inventory in a sentence

• Total Eligible Finished Goods Inventory: $ RECONCILIATIONBorrower: Loan Number: Authorized Signature: Date: * A current listing and aging of accounts receivable and accounts payable are attached** Description of inventory and certification of values are attached.SAMPLE BORROWING BASE CERTIFICATE & REPORT TO LENDERFor the period ending: 20Date of last report: 20 Completed by all CAPLines asset-based sub-programs.

• Notwithstanding anything to the contrary contained herein, the aggregate amount of Eligible Finished Goods Inventory and Eligible Raw Materials Inventory owned by a Domestic Loan Party and located at one of the locations in the Netherlands as set forth on Schedule 4.25 to the Disclosure Letter and that is included in the Borrowing Base shall not exceed 10% of the Line Cap.

• 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.

• Any Inventory which is at any time Eligible Finished Goods Inventory, but which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be Eligible Finished Goods Inventory until such time as such Inventory shall meet all of the foregoing requirements.

• The following definitions are deleted from Section 1.01 of the Agreement: Active Excess Inventory, Active No Requirement Inventory, Eligible Arden Finished Goods Inventory; Eligible Arden Raw Materials Inventory; Eligible Finished Goods Inventory; Eligible Gift Inventory, Eligible Inventory, Eligible Raw Material Inventory, FFI Accounting System, Historical Inventory, Intercreditor Agreement, Seller Preferred, Senior Notes and Slow Moving Inventory.

More Definitions of Eligible Finished Goods Inventory

Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

Eligible Finished Goods Inventory means Eligible Inventory consisting of finished goods available for sale (as determined in a manner acceptable to the Administrative Agent in its Permitted Discretion and consistent with past practices).

Eligible Finished Goods Inventory means finished goods inventory in salable condition less than 180 days old, owned by a Credit Party free and clear of any Liens (other than Liens pursuant to this Agreement), and designated and identified as product to be sold to IBM as evidenced by (i) non-cancellable purchase orders from IBM or (ii) a non-cancellable written agreement that IBM will purchase such inventory, in each case, in form and substance satisfactory to IBM Credit.

Eligible Finished Goods Inventory means Inventory of a Borrower that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers' business (other than Eligible Food Grade Alcohol Inventory, Eligible Starch/Protein Inventory, Eligible Barreled Inventory and Eligible Barreled (Two-Year) Inventory).

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods (a) that are held for sale in the ordinary course of Borrowers' business or (b) constitute Coffee Brewing Equipment.

Eligible Finished Goods Inventory means, Eligible Inventory of Borrower consisting of Finished Goods Inventory.

Eligible Finished Goods Inventory means all of the Borrower’s and its Subsidiaries’ net finished goods inventory. “Eligible Raw Materials Inventory” shall mean all of the Borrower’s and its Subsidiaries’ net raw materials inventory.