New Vehicle Inventory definition

New Vehicle Inventory means all new untitled 2004 and 2005 Peterbilt motor vehicles owned by a Seller, which have original MSOs and which have less than 15,000 miles on the odometer.
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New Vehicle Inventory means all new vehicle inventory including all demonstrator vehicles.
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New Vehicle Inventory means all new vehicles and demonstrators having less than 6,000 miles on the odometer owned by the Company on the Deposit Date; and the term "Used Vehicle Inventory" shall mean all used vehicles and demonstrators having 6,000 miles or more on the odometer owned by the Company on the Deposit Date; and the term "Parts and Accessories Inventory" shall mean all parts and accessories purchased from the Manufacturers or other reputable suppliers and owned by the Company on the Deposit Date. To the best of Seller's and the Company's knowledge, each inventory of the Company consists of goods of a quality and in quantities that are saleable in the ordinary course of the Company's business with normal xxxx-up at prevailing market prices. All parts and accessories in the Parts and Accessories Inventory are in returnable condition, are undamaged parts and accessories, are still in the original, resalable merchandising package, are in unbroken lots, are listed for sale in the current dealer parts and accessories price schedule of each Manufacturer or other supplier, and were purchased directly from the Manufacturers or other reliable suppliers.
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Examples of New Vehicle Inventory in a sentence

  • Seller has not removed any equipment or accessories to the vehicles in the Nissan New Vehicle Inventory, except for dealer installed equipment installed in the ordinary course of Seller’s business, each such vehicle is equipped per the manufacturer’s invoice, and is free from scratches and body damage.

  • Schedule 7(h) will set forth a complete and accurate description of the New Vehicle Inventory (hereinafter defined), Remarketed Vehicle Inventory (hereinafter defined), Used Vehicle Inventory (hereinafter defined), and Parts and Accessories Inventory (hereinafter defined).

  • On the Deposit Date, Schedule 7(h) will set forth a complete and accurate description of the New Vehicle Inventory (hereinafter defined), Used Vehicle Inventory (hereinafter defined), and Parts and Accessories Inventory (hereinafter defined).

  • On or before the Deposit Date, Purchaser and Seller shall conduct a physical inventory of the New Vehicle Inventory, the Used Vehicle Inventory, the Parts and Accessories Inventory, and the Tangible Personal Property.

  • Seller has delivered or will make available to Buyer copies of the titles (e.g. invoices and manufacturer’s certificate of origin) by which the Company acquired the Nissan New Vehicle Inventory and invoices or other reasonably acceptable evidence (including computer inventories or Nissan confirmations) relative to the Nissan Special Tools and Nissan Parts and Accessories.

  • At Closing, Schedule 7(h) will set forth a complete and accurate description of the New Vehicle Inventory (hereinafter defined), Used Vehicle Inventory (hereinafter defined), and Parts and Accessories Inventory (hereinafter defined).

  • On or before October 31, 1997, Purchaser and Sellers shall conduct a physical inventory of the New Vehicle Inventory, the Remarketed Vehicle Inventory, the Used Vehicle Inventory, the Parts and Accessories Inventory, and the Tangible Personal Property.

  • SCHEDULE 6.14.4 contains an accurate and complete list of the addresses in the United States where any inventory of any Company is located, including Eligible Domestic Parts Inventory and Eligible New Vehicle Inventory.

  • On or before November 2, 1997, Purchaser and Seller shall conduct a physical inventory of the New Vehicle Inventory, the Used Vehicle Inventory, the Parts and Accessories Inventory, and the Tangible Personal Property.


More Definitions of New Vehicle Inventory

New Vehicle Inventory means vehicles which are new, unused (meaning untitled and unreported as sold with full factory warranty) and undamaged (meaning having repairable damage costing less than $100) and have less than 100 miles.
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New Vehicle Inventory means all new vehicles and demonstrators owned by the Company on November 1, 1997; the term "Remarketed Vehicle Inventory" shall mean program cars purchased through auction that are eligible for Toyota Motor Credit Corporation's special floor planning; the term "Used Vehicle Inventory" shall mean all used vehicles owned by the Company on November 1, 1997; and the term "Parts and Accessories Inventory" shall mean all parts and accessories purchased from Toyota and other reputable and reliable suppliers, including tires, gas, oil, grease, body shop materials and other inventories, and owned by the Company on November 1, 1997. To the best of each Seller's and the Company's knowledge, each inventory of the Company consists of goods of a quality and in quantities that are saleable in the ordinary course of the Company's business with normal xxxx-up at prevailing market prices. To the best of each Seller's and the Company's knowledge, all Toyota parts and accessories in the inventory of the Company are returnable for full credit and undamaged parts and accessories that are listed for sale in the current dealer parts and accessories price schedule for Toyota, except as set forth on Schedule 7(h). In order for the Company to conduct business reasonably consistent with past and current practices, on November 1, 1997, the Company will have the following:
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New Vehicle Inventory has the meaning assigned thereto in the Recitals of this Agreement.
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Related to New Vehicle Inventory

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (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 Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Obsolete Inventory means items that have expired, are redundant or

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • 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.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

  • Excluded Inventory means any of the following inventory of goods, merchandise, or other inventory of Seller located at the Leased Premises: (a) all items in the Fresh Departments;

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

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

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

  • 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).

  • Product Inventory means all inventory of the Product owned by Seller or its Affiliates as of the Closing, including raw materials, work-in-process, bulk form drug and finished Product.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Gross vehicle mass or "maximum mass" means the technically permissible maximum laden mass as declared by the manufacturer.

  • Unsaleable liquor merchandise means a container that:

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Qualified Inventory means all Raw Materials Inventory, Semi-Finished Goods and Scrap Inventory and Finished Goods Inventory held by a Credit Party in the normal course of business and owned solely by such Credit Party (per plant level records whereby manufactured items are valued at pre-determined costs and purchased items are valued at rolling average actual cost).

  • Finished Goods means units of a manufactured product awaiting sale.

  • Inventory Tracking System means the required tracking

  • Transit vehicle means a bus, rapid transit vehicle, railroad car, street railway car, water vehicle, taxicab, or other type of public transportation vehicle or individual unit, whether operated singly or in a group that provides public transportation.

  • Eligible Receivables means Receivables arising in the ordinary course of -------------------- Borrower's business from the sale of goods or rendition of services, which Silicon, in its sole judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the determination of which Receivables are eligible for borrowing is a matter of Silicon's discretion, the following (the "Minimum ------- Eligibility Requirements") are the minimum requirements for a Receivable to be ------------------------ an Eligible Receivable: (i) the Receivable must not be outstanding for more than 90 days from its invoice date, (ii) the Receivable must not represent progress xxxxxxxx, or be due under a fulfillment or requirements contract with the Account Debtor, (iii) the Receivable must not be subject to any contingencies (including Receivables arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional), (iv) the Receivable must not be owing from an Account Debtor with whom the Borrower has any dispute (whether or not relating to the particular Receivable), (v) the Receivable must not be owing from an Affiliate of Borrower, (vi) the Receivable must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose financial condition is not acceptable to Silicon, or which, fails or goes out of a material portion of its business, (vii) the Receivable must not be owing from the United States or any department, agency or instrumentality thereof (unless there has been compliance, to Silicon's satisfaction, with the United States Assignment of Claims Act), (viii) the Receivable must not be owing from an Account Debtor located outside the United States or Canada (unless pre-approved by Silicon in its discretion in writing, or backed by a letter of credit satisfactory to Silicon, or FCIA insured satisfactory to Silicon), (ix) the Receivable must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor or otherwise. Receivables owing from one Account Debtor will not be deemed Eligible Receivables to the extent they exceed 25% of the total Receivables outstanding. In addition, if more than 50% of the Receivables owing from an Account Debtor are outstanding more than 90 days from their invoice date (without regard to unapplied credits) or are otherwise not eligible Receivables, then all Receivables owing from that Account Debtor will be deemed ineligible for borrowing. Silicon may, from time to time, in its discretion, revise the Minimum Eligibility Requirements, upon written notice to the Borrower.

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Inventory Reserve means reserves established by the Administrative Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.