Eligible Petroleum Inventory as of any Borrowing Base Date, all Eligible Inventory of the Loan Parties consisting of Petroleum Products.
Eligible Petroleum Inventory means Eligible Inventory not otherwise included in Hedged Eligible Inventory, valued on a Marked-to-Market Basis, provided, “Eligible Petroleum Inventory” shall not include any Petroleum Product consisting of corn.
Eligible Petroleum Inventory means Eligible Inventory not otherwise included in Hedged Eligible Inventory, valued on a Marked-to-Market Basis, provided, "Eligible Petroleum Inventory" shall not include any Petroleum Product consisting of corn.
Examples of Eligible Petroleum Inventory in a sentence
In addition to the foregoing, the Borrower, shall deliver copies of invoices, purchase orders, credit memoranda, shipping and delivery documents and other information related to Eligible Receivables and Eligible Petroleum Inventory identified in the applicable Monthly Collateral Report as Agent shall reasonably request.
In addition to the foregoing, the Borrower, upon the Agent's reasonable request, shall deliver copies of invoices, purchase orders, credit memoranda, shipping and delivery documents and other information related to Eligible Receivables and Eligible Petroleum Inventory identified in the applicable Monthly Collateral Report.
Eligible Petroleum Inventory owned by a Loan Party that is in transit via pipeline from a vendor or a supplier in the United States.
Average monthly payments, rents, storage charges and tariffs due to 3rd parties holding or controlling Eligible Petroleum Inventory.
More Definitions of Eligible Petroleum Inventory
Eligible Petroleum Inventory means Petroleum Inventory that:
Eligible Petroleum Inventory means Eligible Inventory not otherwise included in Hedged Eligible Inventory, valued on a Marked-to-Market Basis, plus Eligible Exchange Balances (which number can be either negative or positive).
Eligible Petroleum Inventory means Petroleum Inventory which is owned by a Borrower (other than packaging or shipping materials, labels, samples, display items, bags, replacement parts and manufacturing supplies) and which the Agents, in their reasonable credit judgment, deem to be Eligible Petroleum Inventory. Without limiting the generality of the foregoing, no Petroleum Inventory shall be Eligible Petroleum Inventory unless:
Eligible Petroleum Inventory as of any date, all Eligible Inventory of the Loan Parties consisting of Petroleum Products. “Eligible RINs”: as of any date, all inventory of any Loan Party consisting of RINs valued at the then current Value, and in all instances as to which the following requirements have been fulfilled:
Eligible Petroleum Inventory means Petroleum Inventory of a Borrower which is held for sale or lease or refining in the ordinary course of business or furnished under any contract of service by a Borrower in the ordinary course of business that, unless otherwise approved by the Agent in its Permitted Discretion, meet all of the following requirements, subject to the ability of the Agent to establish other criteria of eligibility in its Permitted Discretion or modify the criteria established below, in either case subject to the requirements of Section 2.22:
Eligible Petroleum Inventory means Petroleum Inventory of the Borrower and the Subsidiary Guarantors which is held for sale or lease or refining in the ordinary course of business or furnished under any contract of service by the Borrower or such Subsidiary Guarantors in the ordinary course of business which is at all times and shall continue to meet standards of eligibility from time to time established in accordance with this Agreement. Initially, standards of eligibility will be established by the Agent in a manner substantially consistent with the standards in effect immediately prior to the effectiveness of this Agreement and may be revised from time to time by the Agent in its reasonable credit judgment (which credit judgment shall be exercised in a manner that is not arbitrary or capricious). In general, without limiting the foregoing, the following Petroleum Inventory constitutes Eligible Petroleum Inventory:
Eligible Petroleum Inventory means Petroleum Inventory of the Borrower and the Subsidiary Guarantors which is held for sale or lease in the ordinary course of business or furnished under any contract of service by the Borrower or such Subsidiary Guarantors in the ordinary course of business which is at all times and shall continue to meet standards of eligibility from time to time established in accordance with this Agreement. Initially, standards of eligibility will be established by the Agent in its reasonable credit judgment (which credit judgment shall be exercised in a manner that is not arbitrary or capricious) and may be revised from time to time by the Agent in its reasonable credit judgment (which credit judgment shall be exercised in a manner that is not arbitrary or capricious). In general, without limiting the foregoing, the following Petroleum Inventory includes Eligible Petroleum Inventory: