Eligible Spare Parts Inventory definition

Eligible Spare Parts Inventory means any Spare Parts Inventory that qualifies as Eligible Inventory.

Eligible Spare Parts Inventory means Inventory that qualifies as Eligible Inventory and consists of goods that are first-quality spare parts and that are not located in open pallets or containers. “Eligible Transferee” means (a) any Lender (other than a Defaulting Lender), any Affiliate of any Lender and any Related Fund of any Lender; (b)

Eligible Spare Parts Inventory means any Spare Parts Inventory owned by a Borrower that constitutes Eligible Inventory (disregarding clauses (g), (j) and (t) of the definition thereof).

Examples of Eligible Spare Parts Inventory in a sentence

• Administrative Agent may rely, in determining which Accounts are Eligible Accounts Receivable and which Spare Parts Inventory are Eligible Spare Parts Inventory, on all statements and representations made by Borrowers with respect thereto.

• Notify Agent if any Account or Inventory identified by such Borrower to Agent as an Eligible Account or Eligible Spare Parts Inventory becomes ineligible for any reason by submitting the borrowing base report, or promptly upon becoming aware thereof if the aggregate of Eligible Accounts or Eligible Spare Inventory not yet reported as ineligible exceed $100,000 at any time.

• No Obligated Party will permit any of its Inventory to become a fixture with respect to Real Estate or (except for spare parts Inventory other than Eligible Spare Parts Inventory) to become an accession with respect to other personal property with respect to which Real Estate or personal property the Collateral Agent does not have a Lien.

• Each Account or item of Inventory that a Credit Party shall, expressly or by implication, request Agent to classify as an Eligible Account or as Eligible Spare Parts Inventory, respectively, shall, as of the time when such request is made, conform in all respects to the requirements of such classification as set forth in the respective definitions of “Eligible Account” and “Eligible Spare Parts Inventory” as set forth herein and as otherwise established by Agent from time to time.

More Definitions of Eligible Spare Parts Inventory

Eligible Spare Parts Inventory on any date, any Spare Parts Inventory owned by a Borrower. Except otherwise approved in writing by Administrative Agent exercising its Permitted Discretion, no Spare Parts Inventory shall be Eligible Spare Parts Inventory unless:

Eligible Spare Parts Inventory means Spare Parts Inventory of a Borrower, that complies with each of the representations and warranties respecting Eligible Spare Parts Inventory made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by Agent in Agent's Permitted Discretion to address the results of any information with respect to the Borrowers' business or assets of which Agent becomes aware after the Sixth Amendment Effective Date, including any field examination or appraisal performed or received by Agent from time to time after the Sixth Amendment Effective Date. In determining the amount to be so included, Spare Parts Inventory shall be valued at the lower of cost or market on a basis consistent with Borrowers' historical accounting practices. An item of Spare Parts Inventory shall not be included in Eligible Spare Parts Inventory if:

Eligible Spare Parts Inventory means Spare Parts that satisfy the Spare Parts Eligibility Requirements.

Eligible Spare Parts Inventory means Inventory of a Borrower constituting spare parts and which is acceptable to Agent in its Permitted Discretion (provided that Agent shall give Borrowers written notice of any eligibility criteria established by Agent and not set forth herein). Without limiting Agent’s discretion, Agent shall, in general, consider Inventory to be Eligible Spare Parts Inventory if it meets, and so long as it continues to meet, the following requirements:

Eligible Spare Parts Inventory as set forth herein and as otherwise established by Agent from time to time.

Eligible Spare Parts Inventory means Eligible Inventory consisting of unused spare parts and merchandise inventory located on premises owned or leased by a Borrower, which spare parts and merchandise inventory are held for sale by a Borrower in the ordinary course of its business or for the repair or maintenance of Inventory of a Borrower that is held for sale or lease by such Borrower in the ordinary course of its business.

Eligible Spare Parts Inventory means Eligible Inventory consisting of spare parts. Eligible Spare Parts Inventory shall be valued, on a first in, first out basis, at Borrower's net book value.