Eligible PP&E means, as of the date of determination thereof, PP&E of the Borrowers that is deemed by the Lender in its Permitted Discretion to be eligible for inclusion in the calculation of the Borrowing Base. Without limiting the foregoing, unless otherwise approved in writing by the Lender, Eligible PP&E shall not include:
Eligible PP&E means, as of any date, the net book value of the property, plant and equipment of the Borrower and its Subsidiaries as reflected on the Borrower’s most recent financial statements.
Eligible PP&E means, at any time, property, plant or Equipment of a Loan Party which the Administrative Agent determines in its Permitted Discretion is eligible as the basis for the determining the Term Loan Borrowing Base. Without limiting the Administrative Agent’s Permitted Discretion, Eligible PP&E shall not include any property, plant or Equipment:
Examples of Eligible PP&E in a sentence
Eligible PPE for EMS activities includes PPE ensembles (coats and trousers) that afford universal precautions against exposure to infectious diseases, etc.
Eligible PPE includes clothing for structural or wildland fire suppression, such as “turnout gear” or “bunker gear” (including boots, pants, coats, gloves, hoods, goggles, retro-reflective highway apparel, vests, helmets, coveralls, and fire shelters), SCBAs, spare cylinders, and PASS (within the limits noted above).
The Borrower will not at any time permit the sum of (a) 85% of Eligible Accounts Receivable plus (b) 50% of Eligible Inventory plus (c) 50% of Eligible PP&E to be less than 125% of Consolidated Total Debt.
Eligible PPE includes clothing for structural or wildland fire suppression, such as “turnout gear” or “bunker gear” (including boots, pants, coats, gloves, hoods, goggles, retro-reflectivehighway apparel, vests, helmets, coveralls, and fire shelters), SCBAs, spare cylinders, and PASS (within the limits noted above).
Eligible PPE and testing supplies include:o Gloveso Face shieldso Gownso Procedure masks (including masks for clients and non-clinical staff, per BC Ministry of Health policyo N95 maskso Alcohol-based hand rubo Nasopharyngeal swabo Gargle kits REQUEST PATHWAY: PPE for health service providers and first responders can be requested from FNHA if they are not accessible through regular procurement or provincial channels.
More Definitions of Eligible PP&E
Eligible PP&E means PPE net of accumulated depreciation as set forth on the consolidated balance sheet of the Consolidated Group for the applicable period.
Eligible PP&E means, with respect to the Borrowers at the time of any determination thereof and without duplication, all property (including real property), plant and Equipment (including fixtures) of the Borrowers which conforms in all respects to the representations and warranties contained herein, in the Pledge and Security Agreement (in the case of Equipment) and in any applicable Mortgage, but (A) excluding in any event (i) property, plant and Equipment assets subject to any Lien (other than the Liens of the Loan Documents and Liens described in CLAUSE (d), (f), (g), (h), (j) and (l) of SECTION 7.2.3), (ii) property, plant and Equipment assets which are not in good condition or materially fail to meet standards for use imposed by any Governmental Authority, (iii) property, plant and Equipment assets which are not useable in the ordinary course of business, (iv) property, plant and Equipment assets located outside the United States, (v) property, plant and Equipment assets located at a leased location or in the possession of any vendor or supplier, in either case in a jurisdiction whose laws provide for a statutory landlord's or vendor's lien, with respect to which the Administrative Agent shall not have received a waiver reasonably satisfactory to the Administrative Agent, (vi) property, plant and Equipment assets which are leased and (vii) property, plant and Equipment assets in which the Administrative Agent does not have, for the benefit of the Secured Parties, a valid, enforceable and perfected Lien (it being understood and agreed that during the period from the Closing Date until the date upon which all of the obligations of the Borrower set forth in SECTIONS 7.1.12 and 7.1.13 have been satisfied in full or, in the event such obligations have not been satisfied within 60 days following the Closing Date, at all times and on and after the Closing Date, $25,540,000, representing the orderly liquidation value of the real property assets of the Borrowers reflected in the initial Asset Appraisal, shall be excluded from Eligible PP&E pursuant to this CLAUSE (vii)), and (B) less such reserves as the Administrative Agent deems necessary in its reasonable judgment after consultation with VHC as a result of negative trends in the business, industry, profits, operations or financial condition of VHC and its U.S. Subsidiaries, taken as a whole, which could reasonably be expected to either impair the value of the Collateral or impair the ability of VHC and its U.S. Subsidia...
Eligible PP&E means, as of any date of determination and without -------------- duplication, the aggregate net book value of all real estate, machinery and equipment ("PP&E") owned by the Borrower or any of its Subsidiaries but excluding in any event (i) PP&E which is (a) not subject to a perfected, first priority Lien in favor of the Agent to secure the Obligations or (b) subject to any other Lien that is not permitted under Section 5.3, (ii) PP&E which is not in good condition or fails to meet standards for sale or use imposed by governmental agencies, departments or divisions having regulatory authority over such PP&E, (iii) PP&E which is not useable or salable at prices approximating its depreciated value in the ordinary course of the business, (iv) PP&E located outside of the United States, (v) PP&E located at a location not owned by the Borrower or any of its Subsidiaries with respect to which the Agent shall not have received a landlord's, warehousemen's, bailee's or appropriate waiver satisfactory to the Agent and (vi) PP&E which is leased or on consignment.
Eligible PP&E means, as of any date of determination and without -------------- duplication, the aggregate net book value of all real estate, machinery, equipment and computer hardware with supporting software ("PP&E") owned by the Borrower or any of its Subsidiaries but excluding in any event (i) PP&E which is (a) not subject to a perfected, first priority Lien in favor of the Agent to secure the Obligations or (b) subject to any other Lien that is not permitted under Section 5.3, (ii) PP&E which is not in good condition or fails to meet standards for sale or use imposed by governmental agencies,
Eligible PP&E means, as of any date of determination, property, plant and equipment owned by Company on which Administrative Agent has a First Priority Lien, included in the most current appraisal received by Administrative Agent pursuant to
Eligible PP&E means, as of any date of determination and without duplication, the aggregate net book value of all real estate, machinery and equipment ("PP&E") owned by the Borrower or any of its Subsidiaries and deemed "Eligible PP&E" by the Agent, but excluding in any event (i) PP&E which is (a) not subject to a perfected, first priority Lien in favor of the Agent to secure the Borrower's Obligations or (b) subject to any Lien other than a Permitted Lien, (ii) PP&E which is not in good condition or fails to meet standards for sale or use imposed by governmental agencies, departments or divisions having regulatory authority over such PP&E, (iii) PP&E which is not useable or salable at prices approximating its depreciated value in the ordinary course of the business, (iv) PP&E located outside of the United States, (v) PP&E located at a location not owned by the Borrower or any of its Subsidiaries with respect to which the Agent shall not have received a landlord's, warehousemen's, bailee's or appropriate waiver satisfactory to the Agent and (vi) PP&E which is leased or on consignment.
Eligible PP&E means plants, buildings, furniture, fixtures and equipment owned by the Company or (so long as the same is a Subsidiary) Gasboy which meet the following requirements: