Eligible Fixed Assets definition

Eligible Fixed Assets means, as of any date, those tangible fixed assets owned by a Borrower or a Guarantor in which such Borrower or Guarantor has granted to the Agent and Lenders a first-priority perfected security interest pursuant to the Security Agreements, subject to only such Liens as are permitted Section 5.2(f)(i), but not including any such fixed asset (a) that is not usable in the business of a Borrower or Guarantor, (b) that is located outside the United States or Canada or such other jurisdiction approved by the Agent, (c) that is subject to, or any accounts or other proceeds resulting from the sale or other disposition thereof could be subject to, any Lien (except those in favor of the Agent and the Lenders under the Security Agreements), (d) that is not in the possession of the Company, (e) that is held for sale or lease or is the subject of any lease, (f) that is subject to any trademark, trade name or licensing arrangement, or any law, rule or regulation, that could limit or impair the ability of the Agent and the Lenders to promptly exercise all rights of the Agent and the Lenders under the Security Agreements, (g) if such fixed asset is located on premises not owned by the Company and the landlord or other owner of such premises shall not have waived its distraint, lien and similar rights with respect to such fixed asset, and shall not have agreed to permit the Agent to enter such premises after the occurrence of an Event of Default pursuant to a waiver and agreement of such Person in favor of and in form and substance acceptable to the Agent, (h) with respect to which any insurance proceeds are not payable to the Agent as a lender loss payee or are payable to any loss payee other than the Agent or a Borrower or Guarantor, and (i) that for any other reason is at any time reasonably deemed by the Agent to be ineligible.

Eligible Fixed Assets means, as of any date, those tangible fixed assets owned by a Borrower or a Guarantor in which such Borrower or Guarantor has granted to the Agent and Lenders a first-priority perfected security interest pursuant to the Security Agreements, subject to only such Liens as are permitted Section 5.2(f)(i),but not including any such fixed asset (a) that is not usable in the business of a Borrower or Guarantor, (b) that is located outside the United States or Canada or such other jurisdiction approved by the Agent, (c) that is subject to, or any accounts or other proceeds resulting from the sale or other disposition thereof could be subject to, any Lien (except those in favor of the Agent and the Lenders under the Security Agreements, (d) that is not in the possession of the Company, (e) that is held for sale or lease or is the subject of any lease, (f) that is subject to any trademark, trade name or licensing arrangement, or any law, rule or regulation, that could limit or impair the ability of the Agent and the Lenders to promptly exercise all rights of the Agent and the Lenders under the Security Agreements, (g) if such fixed asset is located on premises not owned by the Company and the landlord or other owner of such premises shall not have waived its distraint, lien and similar rights with respect to such fixed asset, and shall not have agreed to permit the Agent to enter such premises after the

Eligible Fixed Assets means Equipment owned by a Borrower, in each case acceptable to the Administrative Agent in its reasonable discretion to be eligible for inclusion in the calculation of the Borrowing Base, and without limiting the foregoing satisfies each of the following conditions:

Examples of Eligible Fixed Assets in a sentence

• All trade accounts receivable, fixed assets and inventory of the Borrowers and the Guarantors represented or reported by the Company to be, or otherwise included in, Eligible Accounts Receivable, Eligible Fixed Assets and Eligible Inventory, comply in all respects with the requirements therefor set forth in the respective definitions thereof, and the computation of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.

• As amended, this provision will allow debt refinancing involving expansions where substantially all (85% or more) of the proceeds of the indebtedness had been used to acquire Eligible Fixed Assets, and the remaining 15% of the proceeds had been incurred for the benefit of the small business concern.Section 120.882(g).

• All trade accounts receivable, fixed assets and inventory of the Borrowers and the Guarantors represented or reported by the Company to be, or otherwise included in, Eligible Accounts Receivable, Eligible Deferred Tooling Reimbursement Payments, Eligible Fixed Assets and Eligible Inventory, comply in all respects with the requirements therefor set forth in the respective definitions thereof, and the computation of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.

• With respect to such locations or warehouse space leased or owned as of the Effective Date and thereafter, if Bank has not received a landlord’s agreement or bailee letter as of the Effective Date (or, if later, as of the date such location is acquired or leased), then the Eligible Fixed Assets at that location shall, in Bank’s Permitted Discretion, be excluded from the Borrowing Base or be subject to such Reserves as may be established by Bank in its Permitted Discretion.

• All trade accounts receivable and inventory and fixed assets of the Company and Manufacturing represented or reported by the Company and Manufacturing to be, or otherwise included in, Eligible Accounts Receivable, Eligible Inventory, Eligible Tooling Inventory and Eligible Fixed Assets comply in all respects with the requirements therefor set forth in the definition thereof, and the computations of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.

More Definitions of Eligible Fixed Assets

Eligible Fixed Assets or “EFA” shall mean and include land (including development costs such as fencing, construction of internal roads, and other basic infrastructure facilities); permanent buildings; plants, indigenous machinery & equipment, imported equipment, computer equipment, material handling equipment (like forklifts, cranes, etc); tools, dies, moulds, jigs, and fixtures and similar production tools owned and used within the plant or elsewhere within Tamil Nadu; appliances; electrical installations; pollution control, quality control and laboratory equipment; fixtures, tubes, pipes, fittings, and storage tanks, to the extent paid for by the project.

Eligible Fixed Assets is the net book value of fixed assets of the Borrower and its Subsidiaries as determined under GAAP and reflected in the Borrower’s consolidated financial statements.

Eligible Fixed Assets means all Eligible Equipment and Eligible Real Estate.

Eligible Fixed Assets means, as determined from time to time, pursuant to an appraisal acceptable to Administrative Agent, Equipment, Fixtures and owned furniture of each Borrower; provided, however, that Eligible Fixed Assets shall not include any such fixed asset as to which any of the following exclusionary criteria applies:

Eligible Fixed Assets means Equipment owned by a Loan Party, subject to the Security Interest and to no other Lien, that is located within the continental United States and has been included in an appraisal report accepted by the Administrative Agent.

Eligible Fixed Assets means the machinery and equipment (i) owned by the Borrower and its Domestic Subsidiaries which are Guarantors, (ii) located in the United States of America, (iii) in which the Agent shall have a First Priority Lien, (iv) which are properly insured in accordance with the provisions of Section 7.5, and (v) which are listed on that certain schedule of Eligible Fixed Assets attached to the Term Loan Borrowing Base Certificate delivered to the Agent on or prior to the Closing Date.

Eligible Fixed Assets means, at any date, the total of: