Eligible Rental Inventory definition

Eligible Rental Inventory means rental inventory outstanding of the Loan Parties that satisfies the eligibility requirements of “Eligible Inventory”.
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Eligible Rental Inventory means rental inventory outstanding of the Loan Parties that satisfies the eligibility requirements of “Eligible Inventory”. “Eligible State University Accounts” means Accounts that otherwise satisfy the eligibility requirements of “Eligible Accounts Receivable” and thatare owing from colleges or universities that are agencies or political subdivisions of state or local Governmental Authorities and that arise in the ordinary course of business of the Borrowers from management agreements, textbook or course pack sales, trade or general merchandise sales, guarantees of payments due from students or otherwise.
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Eligible Rental Inventory means Borrower's whole goods Inventory (other then Used Inventory) held for, or out on, rental or lease as of the date of any Loan or advance by DFS against such Inventory that is owned by Borrower free and clear of all Liens, security interests and encumbrances of any third parties, except for the Permitted Liens, that is not obsolete or unmerchantable, that is in good, new and salable condition that conforms to the representations and warranties of Section 8.22 of this Agreement, and which Administrative Agent deems, in its sole discretion, to be acceptable for financing.
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Examples of Eligible Rental Inventory in a sentence

  • Inventory as of: MBS Ending inventory as of: MBS Net Eligible Current Non-Rental Inventory MBS Inventory Advance Rate: MBS Net Eligible Non-Current Inventory MBS Inventory Advance Rate: MBS Net Eligible Rental Inventory MBS Inventory Advance Rate: .

  • On receipt of each Borrowing Base Certificate, Administrative Agent will treat as eligible the Value of Borrower's Eligible Rental Inventory listed in such Borrowing Base certificate ("Eligible Rental Inventory Availability").

  • Inventory as of: BNCB Ending inventory as of: BNCB Net Eligible Inventory BNCB Inventory Advance Rate: BNCB Net Eligible Rental Inventory BNCB Inventory Rental Advance Rate: MBS Beg.


More Definitions of Eligible Rental Inventory

Eligible Rental Inventory means, as of the date of determination thereof, without duplication, items of Rental Product of a Loan Party that are not excluded as ineligible by virtue of one or more of the criteria set forth below. The following items of Rental Product shall not be included in Eligible Rental Inventory:
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Related to Eligible Rental Inventory

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (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 Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • 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.

  • Metering Equipment means all metering equipment installed at the metering points designated in the appropriate appendix to an Interconnection Service Agreement. Minimum State of Charge: