Net Security Value of Base Inventory definition

Net Security Value of Base Inventory means the net value of Base Inventory, calculated at the lesser of fair market value or cost determined on the "first in, first out" basis, after subtracting the value of any Base Inventory which is damaged or detective and after taking into account charges and liens, other than those of the Bank, of all kinds against the Base Inventory, changes in the market value thereof, and transportation, processing and other handling charges affecting the value thereof, all as determined by the Bank in its discretion, which determination shall be final and binding upon the Borrowers. "Base Inventory" shall mean inventory consisting of raw materials as to which a Borrower has acquired title, and is otherwise in compliance with Section 6.5 Encumbrance, and the Borrowers have furnished to the Bank ----------- information as required by Section 5.1(b) hereof. Inventory immediately loses the status of Base Inventory if and when a Borrower sells it, otherwise passes title thereto or consumes it.
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Net Security Value of Base Inventory means the net value of Base Inventory, calculated at the lesser of fair market value or cost determined on the "first-in, first-out" basis, after subtracting the value of Base Inventory (i) which is in transit to or from the Loan Parties or which is damaged or defective and after taking into account charges and liens, other than those of the Agent, of all kinds against the Base Inventory, changes in the market value thereof, and transportation, processing and other handling charges affecting the value thereof (other than "freight in", customs and duty charges), all as determined by the Agent in its reasonable discretion, (ii) that relates to capitalized labor or overhead or other capitalized costs, (iii) that relates to Inventory sold on consignment or (iv) that is determined by the Agent in its reasonable discretion to be inappropriate for inclusion in the Borrowing Base. The Net Security Value of Base Inventory shall also be reduced by the lesser of: (a) accounts payable to any creditor of the Borrower at whose business location Inventory of the Borrower is stored or held, and (b) the lesser of the book or cost value of such Inventory of the Loan Parties stored or held by such creditor or creditors.
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Net Security Value of Base Inventory means the net value of Base Inventory and California Base Inventory, calculated at the lesser of fair market value or cost determined on the average cost basis consistent with the method of inventory valuation used in the preparation of the Initial Financial Statement, after subtracting the value of any Base Inventory and California Base Inventory which is damaged or defective and after taking into account charges and liens, other than those of the Agent, of all kinds against the Base Inventory and California Base Inventory, changes in the market value thereof, and transportation, processing and other handling charges affecting the value thereof, all as determined by the Agent in its sole and unrestricted discretion, which determination shall be final and binding upon the Borrowers absent manifest computational error.
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Examples of Net Security Value of Base Inventory in a sentence

  • The Net Security Value of Base Inventory solely in relation to Canadian Base Inventory.

  • The Net Security Value of Base Inventory solely in relation to U.S. Base Inventory.

  • All loss or depreciation in value of Base Inventory shall be immediately reflected in the Net Security Value of Base Inventory, and all payments on Base Accounts and all adjustments and credits with respect thereto, whether unilateral, negotiated or otherwise, shall be immediately reflected in the Net Outstanding Amount of Base Accounts.

  • In no event shall (1) the amount pursuant to clause (ii)(A) of this definition exceed $45,000,000, or (2) the portion of such amount pursuant to such clause (ii)(A) attributable to the Net Security Value of Base Inventory constituting work-in-process other than wet blues exceed 50% of the aggregate of such amount pursuant to such clause (ii)(A).


More Definitions of Net Security Value of Base Inventory

Net Security Value of Base Inventory means the net value of Base Inventory, calculated at the lesser of fair market value or cost determined on the average cost basis consistent with the method of inventory valuation used in the preparation of the Initial Financial Statement, after subtracting the value of any Base Inventory which is damaged or defective and after taking into account charges and liens, other than those of the Agent, of all kinds against the Base Inventory, changes in the market value thereof, and transportation, processing and other handling charges affecting the value thereof, all as determined by the Agent in its sole and unrestricted discretion, which determination shall be final and binding upon the Borrowers absent manifest computational error.
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Related to Net Security Value of Base Inventory

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

  • Security Value means the amount in Dollars (as certified by the Bank whose certificate shall, in the absence of manifest error, be conclusive and binding on the Borrowers and the Bank) which is, at any relevant time, the aggregate of (i) the market value of the Mortgaged Ships as most recently determined in accordance with clause 8.2.2 and (ii) the market value of any additional security for the time being actually provided to the Bank pursuant to clause 8.2;

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Original Collateral Sale Price means JPY 6,399,647,993. Notwithstanding anything to the contrary in the Collateral Sale Agreement, the consideration for the Initial Charged Assets is the Issue Price of the Notes plus the entry into the Swap Agreement by the Issuer.

  • Baseline Value for each of the Company and the Peer Companies means the dollar amount representing the average of the Fair Market Value of one share of common stock of such company over the five consecutive trading days ending on, and including, the Effective Date.

  • Borrowing Base Amount means:

  • Net Value has the meaning set forth in Section 1.68(a)(ii).

  • Gross Calorific Value of “GCV” shall mean that quantity of heat expressed in Kilowatt- hour produced by the complete combustion of one (1) normal cubic metre of Natural Gas at twenty-five (25) degrees Celsius and an absolute pressure of one decimal zero one three two five (1.01325) bar with excess air at the same temperature and pressure as the Natural Gas when the products of combustion are cooled to twenty-five (25) degrees Celsius and when the water formed by combustion is condensed to the liquid state and the products of combustion contain the same total mass of water vapor as the Natural Gas and air before combustion.

  • Property Value means the fair market value of the real property, as remediated, less

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • 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.

  • Total Equity Value means, as of any date of determination, the aggregate proceeds which would be received by the Unitholders if: (i) the assets of the Company were sold at their fair market value to an independent third-party on arm’s-length terms, with neither the seller nor the buyer being under compulsion to buy or sell such assets; (ii) the Company satisfied and paid in full all of its obligations and liabilities (including all Taxes, costs and expenses incurred in connection with such transaction and any amounts reserved by the Manager with respect to any contingent or other liabilities); and (iii) such net sale proceeds were then distributed in accordance with Section 4.1, all as determined by the Manager in good faith based upon the Class A Common Stock Value as of such date.

  • Gross Asset Value means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows:

  • Total Asset Value means, without duplication, the sum of (a) the following amounts with respect to the following assets owned by the Company and its Subsidiaries: (i) the Operating Property Value of the Hotel Properties; (ii) the amount of all Unrestricted Cash and Cash Equivalents; (iii) the book value of all Development/Redevelopment Properties, Mortgage Receivables, Laundry Service Properties and Unimproved Land; and (iv) the contract purchase price for all assets under contract for purchase (to the extent included in Indebtedness); plus (b) the applicable Ownership Share of any Unconsolidated Affiliate of the Parent of any asset described in clause (a) above. For purposes of determining Total Asset Value, (u) to the extent the amount of Total Asset Value attributable to Unconsolidated Affiliates would exceed 15% of Total Asset Value, such excess shall be excluded, (v) to the extent the amount of Total Asset Value attributable to Mortgage Receivables would exceed 10% of Total Asset Value, such excess shall be excluded, (w) to the extent the amount of Total Asset Value attributable to Development/Redevelopment Properties would exceed 15% of Total Asset Value, such excess shall be excluded, (x) to the extent the amount of Total Asset Value attributable to Major Renovation Properties (elected to be valued pursuant to clause (c) of the definition of Operating Property Value) would exceed 15% of Total Asset Value, such excess shall be excluded, (y) to the extent the amount of Total Asset Value attributable to Unimproved Land would exceed 2.5% of Total Asset Value, such excess shall be excluded, and (z) to the extent the amount of Total Asset Value attributable to Properties subject to limitation under the foregoing clauses (u) through (y) would exceed 35% of Total Asset Value, such excess shall be excluded.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

  • Rate of Gross Profit means the gross profit earned expressed as a percentage of the turnover during the period between the date of the commencement of the business and the date of the incident.

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Valuation Price means in respect of a Valuation Date and any relevant Scheduled Trading Day, the price of the Reference Asset at the Valuation Time on such day, as determined by the Determination Agent.

  • Worst Value means, in respect of a SPS Valuation Date, the lowest Underlying Reference Value for any Underlying Reference in the Basket in respect of such SPS Valuation Date.

  • Value of Bonus means the amount indicated in the Order Form, which is calculated by multiplying the Commitment Value and the Bonus.

  • rand value means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;

  • RI Value means, in respect of a Reference Item and a ST Valuation Date, (i) the RI Closing Value for such Reference Item in respect of such ST Valuation Date, divided by (ii) the relevant RI Initial Value (expressed as a percentage).

  • Net Invoice Price means the price paid by You for Your Vehicle including all factory fitted accessories and any discount given but excluding retailer fitted accessories, road fund licence, new vehicle registration fee, fuel, paintwork and / or upholstery protection kits, insurance premiums (including this Premium), warranty premiums and any such associated costs and any Negative Equity.

  • Projected PJM Market Revenues means a component of the Market Seller Offer Cap calculated in accordance with Tariff, Attachment DD, section 6.

  • Index Start Value means 1,000 index points and represents the Index Closing Value on Index Calculation Day T=0 for the purposes of calculating the index in accordance with C).

  • Applicable Value means, as of any date, with respect to each Share, the fair value of such Share, as determined in good faith by the Board of Directors.