Eligible Foreign Inventory definition

Eligible Foreign Inventory. Inventory owned by a Foreign Borrower: (a) with respect to which Agent or a Security Trustee has a valid and perfected first priority Lien, first floating charge or similar non-possessory interest (subject, in each case, only to Customary Permitted Liens described in clause (a) of the definition thereof), (b) with respect to which no representation, warranty or covenant contained in any Loan Document has been breached, (c) which is not in, Agent’s Permitted Discretion, obsolete, unmerchantable or subject to any statutory, contractual or other title retention or similar agreement or arrangement, (d) (i) located on the premises of a UK Borrower in England and Wales or Northern Ireland, a Dutch Borrower in the Netherlands or an Australian Borrower in Australia (as applicable) or (ii) in transit from the premises or warehouses of any U.S. Borrower to the premises of any Foreign Borrower or in transit from the premises of any Foreign Borrower to the premises of such or any other Foreign Borrower and as to which the issuer of the related xxxx of lading (or other applicable document issued by a transporter under applicable law with respect to Inventory in transit) and the agent at the destination named in such xxxx of lading (or other applicable document issued by a transporter under applicable law with respect to Inventory in transit) have executed a Lien Waiver, and (iii) as to which the related xxxx of lading (or other applicable document issued by a transporter under applicable law with respect to Inventory in transit) is not a negotiable xxxx of lading (or negotiable document), and (e) which Agent deems to be Eligible Foreign Inventory, based on such credit and collateral considerations as Agent deems appropriate in its Permitted Discretion. Except as otherwise agreed to by Agent, no Inventory of any Foreign Borrower shall be Eligible Foreign Inventory if such Inventory is located, stored, used or held at leased premises or the premises of a third party unless other appropriate action satisfactory to Agent shall have been taken to make the rights of Agent in such Inventory effective against third parties, with respect to such location. The Agent reserves the right to create, from time to time, additional categories of ineligible Inventory.

Eligible Foreign Inventory is Borrower’s Inventory located in Germany or Israel that otherwise meets all of the Borrower’s representations and warranties in Section 5.3 and is otherwise acceptable to Bank in all respects.

Eligible Foreign Inventory is Borrower’s Inventory located in Germany or Israel that otherwise meets all of the Borrower’s representations and warranties in Section 5.3 and is otherwise acceptable to Bank in all respects. 9 The Loan Agreement shall be amended by deleting the following text appearing as clause (g) in the definition of “Permitted Investments” appearing in Section 31.1 thereof: “(g) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (f) above; provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be.” and inserting in lieu thereof the following:

Examples of Eligible Foreign Inventory in a sentence

• For purposes of this Exim Agreement "Borrowing Base" shall mean an amount equal to the sum of (i) eighty percent (80%) of the Exim Eligible Foreign Accounts plus (ii) forty percent (40%) of the Exim Eligible Foreign Inventory.

• Any increase or decrease to any Advance Rate or reserve or any imposition of new reserve and any change to eligibility criteria with respect to Eligible Receivables, Eligible Foreign Receivables, Eligible Inventory, Eligible Foreign Inventory and Eligible In-Transit Inventory by Administrative Agent under this Agreement shall be effective not earlier than two (2) Business Days following written notice from Administrative Agent.

• For purposes of this Agreement, Borrowing Base means an amount equal to the sum of (i) ninety percent (90%) of Exim Eligible Foreign Accounts plus (ii) fifty percent (50%) of the Exim Eligible Foreign Inventory.

• All Inventory designated as eligible inventory (Exim Eligible Foreign Inventory) in any borrowing base certificate, or other report submitted to Borrower, is in all material respects of good and marketable quality, free from material defects, except for Inventory for which adequate reserves have been made in accordance with GAAP, which reserves have been, and at all times will be, disclosed to Bank in Borrower's borrowing base certificates.

• The aggregate amount of all Advances outstanding at any time to finance Exim Eligible Foreign Inventory may not exceed the Exim Inventory Facility Amount.

More Definitions of Eligible Foreign Inventory

Eligible Foreign Inventory means Inventory owned by the Multicurrency Borrowers:

Eligible Foreign Inventory means Inventory purchased or manufactured by Borrower for resale located in the United States, other than Inventory that is excluded under the Borrower Agreement and this Exim Agreement. Eligible Foreign Inventory shall not include the following:

Eligible Foreign Inventory means Inventory owned by the Operating Multicurrency Borrowers:

Eligible Foreign Inventory means Eligible Inventory that is located in the United Kingdom.

Eligible Foreign Inventory means the Eligible Inventory owned by the Specified Foreign Borrowing Base ABL Subsidiary Guarantors.

Eligible Foreign Inventory means Inventory of a Borrower which is located in the United Kingdom and which meets each of the requirements set forth in clauses (a) through (e) and (g) through (l) of the definition of "Eligible Domestic Inventory"; provided, that Inventory located at NP Aerospace's leased property located at 000 Xxxxxxxxx Xx., Xxxxxxxx, Xxxxxxx with a book value of up to (pound)200,000 shall not be excluded from "Eligible Foreign Inventory" as a result of NP Aerospace's failure to deliver a Collateral Access Agreement with respect to such property. Inventory which is at any time Eligible Foreign Inventory but which subsequently fails to meet any of the foregoing requirements shall forthwith cease to be Eligible Foreign Inventory. For purposes of this definition, Inventory shall not be deemed to meet the requirement of subsection (i) of clause (a) described above unless the Borrowers shall have executed and delivered to Administrative Agent all Foreign Collateral Documents (which shall include such opinions of counsel as may be requested by the Agent) in favor of the Administrative Agent and/or Security Trustee as the Administrative Agent and/or Security Trustee may require to obtain and perfect a Lien in such Inventory and the Borrowers shall have taken such other action as the Administrative Agent shall have reasonably requested to create and perfect such Lien.

Eligible Foreign Inventory means, as to each Foreign Borrower and each Foreign Guarantor, the Inventory of such Foreign Borrower or Foreign Guarantor (other than any Inventory which has been consigned by such Foreign Borrower or Foreign Guarantor) including raw materials, work-in-process, finished goods, parts and supplies: