Eligible Raw Materials definition

Eligible Raw Materials means, on any date, the Inventory Value of all Eligible Inventory of the Borrower and each Grantor defined as Raw Materials on such date as shown on the Borrower's perpetual inventory records in accordance with its current and historical accounting practices.

Eligible Raw Materials the Eligible Inventory of the Company or any Subsidiary Guarantor (other than Eligible Bulk Inventory) that is classified, consistent with past practice, on the Company’s or such Subsidiary Guarantor’s accounting system as “raw materials,” “components,” “supplies” or “packaging”.

Eligible Raw Materials means, at any time, Eligible Inventory consisting of raw materials which the Administrative Agent determines in its Permitted Discretion, following consultation with the U.S. Borrower (but without any requirement for the U.S. Borrower’s consent), is eligible for inclusion in the applicable Borrowing Base.

Examples of Eligible Raw Materials in a sentence

• Eligible Finished Goods Inventory, Eligible Work-in-Process and Eligible Raw Materials.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

• Notwithstanding the foregoing, but without duplication, Eligible Raw Materials shall be reduced by the amount of any specific reserve established by the Borrower with respect to any Eligible Raw Materials other than the LIFO reserve maintained by the Borrower in accordance with generally accepted accounting principles.

• When calculating the Eligible Receivables, Eligible Finished Goods, the Eligible Raw Materials or Trade Payables of any Obligor such calculation shall be made in the Local Currency of such Obligor.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, Eligible Work in Process Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of “Eligible Inventory”.

More Definitions of Eligible Raw Materials

Eligible Raw Materials means Inventory which is classified, consistent with past practice, on the Borrowers' accounting system as raw materials, which is otherwise Eligible Inventory.

Eligible Raw Materials means Inventory constituting raw materials used or consumed by any Loan Party in the ordinary course of business in the manufacture or production of other Inventory, which such Inventory constituting raw materials would otherwise constitute “Eligible Inventory” under this Agreement, but for clause (f)(i) of the definition thereof; provided that Eligible Raw Materials will not include any Inventory constituting finished goods or work-in-process.

Eligible Raw Materials means, on any date, Eligible Inventory composed of Raw Materials to be used in the production of finished goods inventory for sale, as determined by the Administrative Agent in its sole discretion, on such date as shown on the Borrowers’ perpetual inventory records in accordance with current and historical accounting practices, minus Inventory Reserves.

Eligible Raw Materials means Raw Materials which constitute Eligible Inventory.

Eligible Raw Materials means the Eligible Inventory of any Loan Party that is classified, consistent with past practice, on such Loan Party’s accounting system as “raw materials”.

Eligible Raw Materials means, Eligible Inventory that is (a) located in the United States and (b) constitutes raw materials used or consumed by the Borrower in the ordinary course of business in the manufacture or production of other inventory, excluding Eligible Finished Goods and Eligible Inventory constituting work-in-process.

Eligible Raw Materials has the meaning given to such term in Clause 6.10.