Eligible Hedged Natural Gas Inventory definition

Eligible Hedged Natural Gas Inventory as of any Borrowing Base Date, the Value of Eligible Natural Gas Inventory as of such date that has been Hedged.
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Eligible Hedged Natural Gas Inventory as of any date, the Value of Eligible Natural Gas Inventory as of such date that has been Hedged. “Eligible Hedged Petroleum Inventory”: as of any date, the Value of Eligible Petroleum Inventory as of such date that has been Hedged. “Eligible In the Money Forward Contract Amount”: as of any date and with respect to any Loan Party, to the extent that the Counterparty Forward Contract Amount with respect to any Forward Contract Counterparty is positive, such Counterparty Forward Contract Amount. “Eligible Inventory”: as of any date, all inventory of any Loan Party consisting of Eligible Commodities valued at the then current Value, and in all instances as to which the following requirements have been fulfilled: (a) the inventory is owned by such Loan Party; (b) the inventory is subject to a Perfected First Lien and is free and clear of all other Liens except Permitted Borrowing Base Liens;
Sample 1
Eligible Hedged Natural Gas Inventory as of any Borrowing Base Date, the Value of Eligible Natural Gas Inventory as of such date that has been Hedged. “Eligible Hedged Petroleum Inventory”: as of any Borrowing Base Date, the Value of Eligible Petroleum Inventory as of such date that has been Hedged. “Eligible In the Money Forward Contract Amount”: to the extent that the Counterparty Forward Contract Amount with respect to any Forward Contract Counterparty is positive, such Counterparty Forward Contract Amount. “Eligible Inventory”: as of any Borrowing Base Date, all inventory of any Loan Party consisting of Eligible Commodities valued at the then current Value, and in all instances as to which the following requirements have been fulfilled: (a) the inventory is owned by such Loan Party; (b) the inventory is subject to a Perfected First Lien and is free and clear of all other Liens except Permitted Borrowing Base Liens; (c) all requirements set forth in Section 5(k) of the U.S. Security Agreement or Section 5(k) of the Canadian Security Agreement, as applicable, applicable to such inventory have been satisfied; (d) the inventory has not been identified for deliveries with the result that a buyer may have rights to the inventory that could be superior to the Perfected First Liens, nor shall such inventory have become subject to a customer’s ownership or lien; (e) the inventory is in transit, in a pipeline or in a storage facility at an Approved Inventory Location in the U.S. or Canada and, if such inventory is in transit on a water borne vessel chartered, rented, owned or leased by such Loan Party, either a xxxx of lading related thereto has been issued to or endorsed to the order of such Loan Party (without further endorsement as of such Borrowing Base Date) or a letter of indemnity for payment, provided by the holder or named shipper thereof, has been issued to or addressed to such Loan Party; (f) the inventory is in good saleable condition, is not deteriorating in quality and is not obsolete; (g) with respect to any inventory consisting of biofuels, biodiesel or ethanol, not
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More Definitions of Eligible Hedged Natural Gas Inventory

Eligible Hedged Natural Gas Inventory as of any date, the Value of Eligible Natural Gas Inventory as of such date that has been Hedged. “Eligible Hedged Petroleum Inventory”: as of any date, the Value of Eligible Petroleum Inventory as of such date that has been Hedged. “Eligible In the Money Forward Contract Amount”: as of any date and with respect to any Loan Party, to the extent that the Counterparty Forward Contract Amount with respect to any Forward Contract Counterparty is positive, such Counterparty Forward Contract Amount. “Eligible Inventory”: as of any date, all inventory of any Loan Party consisting of Eligible Commodities valued at the then current Value, and in all instances as to which the following requirements have been fulfilled: (a) the inventory is owned by such Loan Party; (b) the inventory is subject to a Perfected First Lien and is free and clear of all other Liens except Permitted Borrowing Base Liens; (c) all requirements set forth in Section 5(k) of the U.S. Security Agreement or Section 5(k) of the Canadian Security Agreement, as applicable, applicable to such inventory have been satisfied; USActive 56005294.156005294.9 -56-
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Related to Eligible Hedged Natural Gas Inventory

  • 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 Borrower’s business.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Proved Developed Non-Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Non-Producing Reserves.”

  • Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Compressed natural gas means a mixture of hydrocarbon gases and vapors that consists primarily of methane in gaseous form that has been compressed for use as a fuel to propel a motor vehicle.

  • Baseline concentration means that ambient concentration level that exists in the baseline area at the time of the applicable minor source baseline date. A baseline concentration is deter- mined for each pollutant for which a minor source baseline date is estab- lished and shall include:

  • Product Backlog means a list of those Stories that do not form part of the current Sprint Plan at that time and which are to form the subject of a future Sprint, either in the current Release at that time or a subsequent Release;

  • Inventory Formula Amount means the lesser of (i) 65% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.

  • Obsolete Inventory means items that have expired, are redundant or

  • Inventory Tracking System means the required tracking

  • Liquefied natural gas or “LNG” means natural gas that has been liquefied.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Finished Goods means completed goods which require no additional processing or manufacturing to be sold to third party customers by the Loan Parties in the ordinary course of business.

  • Inventory control system means a system described in Section 4-41a-103.

  • own-source revenue means adjusted underlying revenue other than revenue that is not under the control of council (including government grants)

  • Natural Gas Liquids means those hydrocarbon components that can be recovered from natural gas as a liquid including, but not limited to, ethane, propane, butanes, pentanes plus, and condensates;

  • Derived air concentration (DAC) means the concentration of a given radionuclide in air which, if breathed by the reference man for a working year of 2,000 hours under conditions of light work, results in an intake of one ALI. For purposes of these regulations, the condition of light work is an inhalation rate of 1.2 cubic meters of air per hour for 2,000 hours in a year. DAC values are given in Part 4, Appendix 4B, Table 4B1, Column 3.

  • Eligible customer-generator means a customer-generator whose net energy metering system for renewable resources, cogeneration, fuel cells, and microturbines meets all applicable safety and performance standards.

  • Non-Methane Hydrocarbons (NMHC means the sum of all hydrocarbon air pollutants except methane.

  • Eligible business means a business located within the counties of Cook, DuPage, Kane, Lake, McHenry or Will in the State of Illinois (the “Six County Region”), and as to which: (1) a majority of the business' fleet is located and used within the Six County Region; and (2) a majority of those vehicles located and used within the Six County Region are alternatively powered vehicles.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.