Inventory Credit definition

Inventory Credit means an amount equal to $111,799, as calculated in accordance with the methodology set forth on Exhibit D.
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Inventory Credit means an immediately available credit issuable to Buyer to purchase from Seller inventory of the kind listed on Schedule 1.56 hereto or on Exhibit A of the Supply Agreement, or as otherwise provided on Schedule 2.9.
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Inventory Credit means an amount equal to the product of (i) the book value of the Inventory as set forth on Schedule 1.1(b), which amount has been agreed to by the parties as set forth on Schedule 1.1(b), minus One Hundred Thousand Dollars ($100,000), multiplied by (ii) fifty-five percent (55%).
Sample 1

Examples of Inventory Credit in a sentence

  • The Inventory Credit Line shall be that portion of the Amount of the Revolving Credit Line, that shall not exceed the Availability on Eligible Inventory.

  • On the ISG Sale Closing Date (as defined below), the Debtors repaid all amounts owing under the Inventory Credit Facility.

  • The "Inventory Cap" as used herein shall be deemed to be exceeded if (after taking into account the Commodity to be purchased under the proposed Transaction) either the Inventory Volume Cap or the Inventory Credit Cap is exceeded.

  • The Stated Interest Rate applicable to the that portion of the outstanding balance of the Indebtedness applicable to the Inventory Credit Line shall be at the Inventory Stated Interest Rate (SCHEDULE SECTION 2.2.).

  • The term "Inventory Credit Facility" shall mean the credit facility as set forth in Section 2.15.

  • Advances pursuant to the Inventory Credit Line shall only be made directly to First Choice, based upon the Eligible Inventory of First Choice.

  • The "Inventory Credit Cap" shall be exceeded if the sum of (A) the Outstanding Tons (excluding the number of Tons subject to unexercised Put Options as described in the Inventory Management Agreement for Phase I) multiplied by the most recently published PMAG plus (B) any other amounts owed under the Transaction Documents to Enron other than principal and interest due under the Credit Agreement, exceeds $55,000,000.

  • The term “Fourth Tranche Commitment Increase” shall mean the increase of (i) the Amount of Receivables Credit Line B hereunder from $45,000,000 to $60,000,000 and (ii) the Amount of Inventory Credit Line B hereunder from $3,000,000 to $4,000,000 in accordance with Section 2.19(c) hereof.

  • The term “Third Tranche Commitment Increase” shall mean the increase of (i) the Amount of Receivables Credit Line B hereunder from $30,000,000 to $45,000,000 and (ii) the Amount of Inventory Credit Line B hereunder from $2,500,000 to $3,000,000 in accordance with Section 2.19(b) hereof.

  • Inventory Credit Percentage...................................-13- Section 1.65.


More Definitions of Inventory Credit

Inventory Credit means, as of any date, the amount set forth below opposite the applicable period:
Sample 1
Inventory Credit means an amount equal to $111,799, as calculated in accordance with the methodology set forth on Exhibit D .
Sample 1

Related to Inventory Credit

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated January 22, 2008 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraiser firm pursuant to Section 9.2(b).

  • Inventory Value has the meaning set forth in Section 2.1.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Borrowing Base means, as of any date of determination, the result of:

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended and restated as of November 12, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (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 Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrower’s business.

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

  • Credit Card Advance Rate means 90%.

  • Company Credit Agreement means that certain Credit Agreement, dated as of January 28, 2019, by and between the Company, the lenders party thereto from time to time and SunTrust Bank, as administrative agent for the revolving lenders and as collateral agent for the secured parties thereunder.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • 364-Day Credit Agreement means the 364-Day Credit Agreement, dated as of the date hereof, among the Borrowers, the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, as administrative agent, and the other agents party thereto.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.