Eligible WIP definition

Eligible WIP means, WIP of a Borrower consisting of finished products waiting to be shipped or products which are substantially complete and will be ready to be shipped to a customer within fifteen (15) days and which, in each case in accordance with the terms hereof, is eligible as the basis for the extension of Revolving Loans, Swingline Loans and the issuance of Letters of Credit hereunder. Eligible WIP shall not include any product which is not complete in all respects and ready to be shipped to a customer or any product:
Sample 1
Eligible WIP means all WIP that is (a) 100% owned in fee simple title by any Loan Party or subject to an Eligible Bond Transaction; (b) subject to no Lien, other than Permitted Liens; (b) located in the United States; (c) Environmentally Compliant; and (d) free from any Material Defect.
Sample 1
Eligible WIP means all goods of the Company and its Subsidiaries which constitute work in process and which meet all the requirements set forth in clauses (1), (3), (4) and (5) of the definition of Eligible Inventory. Work in process of the Company or any Subsidiary which is at any time Eligible WIP but which subsequently fails to meet any of the foregoing requirements shall forthwith cease to be Eligible WIP.
Sample 1

Examples of Eligible WIP in a sentence

  • Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts, Eligible Inventory and Eligible WIP Inventory of Borrower as of a date not more than two (2) Business Days prior to the Closing Date in the case of Eligible Accounts, and as of the Fiscal Month end immediately prior to the Closing Date, in the case of Eligible Inventory and Eligible WIP Inventory.

  • The value of Eligible WIP Inventory shall be the lower of the cost (excluding labor and overhead costs) or market value of the Eligible WIP Inventory computed in accordance with GAAP.

  • Lender reserves the right, at any time and from time to time after the Closing Date, to adjust any such criteria, to establish new criteria and to adjust advance rates with respect to Eligible Inventory and Eligible WIP Inventory in its reasonable credit judgment.

  • Based on the most recent Borrowing Base Certificate delivered by Borrower to Lender and on other information available to Lender, Lender shall in its reasonable credit judgment determine which raw material and finished goods Inventory of Borrower shall be "Eligible Inventory" and which work-in-process Inventory of Borrower shall be "Eligible WIP Inventory" for purposes of this Agreement.

  • In the ITO literature, several scholars have uncovered the positive impact of commitment on outsourcing performance (Grover et al.

  • All of the assets included in the Borrowing Base qualify as Eligible Stabilized Operating Property, Eligible Ground Lease Property, Eligible Lease-Up Property, Eligible WIP, Eligible Unimproved Land, Eligible Cash, Eligible Notes Receivable and/or Eligible Mission Bay Block 28.

  • Inventory which is at any time Eligible WIP Inventory but becomes subject to any of the foregoing conditions shall no longer be Eligible WIP Inventory.


More Definitions of Eligible WIP

Eligible WIP means Eligible Inventory of a Borrower constituting work-in-process, excluding Eligible Finished Goods Inventory and Eligible Raw Materials of such Borrower; provided, however, that Eligible WIP shall only include work-in-process included in the modules, assembly and test categories as such categories exist as of the date hereof; provided further, however, that Eligible WIP shall not include any work-in-process:
Sample 1
Eligible WIP means Eligible Inventory of a Borrower constituting work-in-process, excluding Eligible Finished Goods Inventory and Eligible Raw Materials of such Borrower; provided, h owever, that Eligible WIP shall only include work-in-process included in the
Sample 1
Eligible WIP means WIP (as defined below) which Lender, in its sole and absolute discretion, deems eligible for borrowing. Without limiting the fact that the determination of which WIP is eligible for borrowing is a matter of Lender’s discretion, the following are the minimum requirements for WIP to be Eligible WIP (also, the “Minimum Eligibility Requirements”):
Sample 1

Related to Eligible WIP

  • Eligible group means two or more persons who are engaged in a

  • Eligible veteran means an individual who is certified by the Wisconsin Department of Veterans Affairs as meeting all of the following conditions:

  • Eligible adult means any of the following:

  • Eligible applicant means a school district, joint

  • Eligible patient means an individual who meets all of the following conditions:

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Eligible Unit means, as of the time any Liquidating Gain is available to be allocated to an LTIP Unit or a Performance Unit, an LTIP Unit or Performance Unit to the extent, since the date of issuance of such LTIP Unit or Performance Unit, such Liquidating Gain when aggregated with other Liquidating Gains realized since the date of issuance of such LTIP Unit or Performance Unit exceeds Liquidating Losses realized since the date of issuance of such LTIP Unit or Performance Unit, as applicable.

  • Eligible program means a program of education or training which:

  • Eligible means that the individual obtained the checks and clearances described in sections 5n and 5q and is considered appropriate to obtain a license, to be a member of the household of a group child care home or family child care home, or to be a child care staff member.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Eligible child means the children of:

  • Eligible pupil means a pupil who has been expelled from school under the mandatory expulsion provisions in section 1311 or 1311a of the revised school code, MCL 380.1311 and 380.1311a, a pupil who has been suspended or expelled from school under a local policy, a pupil who is referred by a court, a pupil who is pregnant or is a parent, a pupil who was previously a dropout, or a pupil who is determined by the district to be at risk of dropping out.

  • Eligible Person means individuals, corporations, trusts, the estates of deceased individuals, partnerships and unincorporated associations of persons;

  • Eligible resident means an individual or family who resided in a disaster-affected home at the time of the natural disasters of 2008 and who:

  • Eligible Vehicle means a motor vehicle that:

  • Eligible Directors means, with respect to a Regulated Fund and a Potential Co-Investment Transaction, the members of the Regulated Fund’s Board eligible to vote on that Potential Co-Investment Transaction under Section 57(o) of the Act (treating any registered investment company or series thereof as a BDC for this purpose).

  • Eligible Employees means each employee of the Company or an Affiliate.

  • Eligible teacher means a teacher who:

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Eligible Voter means a legal voter who resides in the jurisdiction of the county,

  • Eligible employer means an employer that:

  • Eligible position or "full-time job" means a full-time position

  • Eligible Dependent means a child of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document.

  • eligible party , in relation to a company, means an individual who:

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Eligible elector means a person who meets the specific requirements for voting at a specific election or for a specific candidate, ballot question, or ballot issue. If no specific provisions are given, an eligible elector shall be a registered elector, as defined in subsection (35) of this section.