Imported Inventory definition
Imported Inventory means all Inventory of the Obligor of every description (including, without limitation, raw materials, work in process and finished Goods) imported from outside of the United States, including but not limited to Inventory consisting of parts or components produced in whole or in part in the United States and sent outside of the United States for assembly, completion or packaging.
Imported Inventory means Inventory that is in the process of being imported into the United States which (i) has been purchased from a foreign supplier, (ii) is in the process of being shipped, and (iii) has not yet been delivered to the Borrower or any other Loan Party.
Imported Inventory means all Inventory owned by Borrowers that is at any time in transit from a foreign country to a Customs Broker, Port Processor or other person located in the United States or in Canada or, subsequent to completion of processing and clearance thereof through United States Customs or Canadian Customs, that is in transit to premises either owned and controlled by Borrowers or leased by Borrowers. For the avoidance of doubt, Inventory that constituted Imported Inventory while in transit to a Customs Broker or Port Processor located in the United States shall not constitute Imported Inventory from and after the date on which it has been delivered to premises owned and controlled or leased by Borrowers in the United States.
Examples of Imported Inventory in a sentence
Eligible Customs Broker - a customs broker that is a party to an Imported Inventory Agreement.
Borrower shall cause all bills of lading or other documents of title evidencing FNA's Imported Inventory to be issued in the form of negotiable documents, as such term is defined in the Uniform Commercial Code.
Imported Inventory Agreement - an Imported Inventory Agreement in form and substance reasonably satisfactory to the Administrative Agent.