Slow Moving definition
Slow Moving means that the applicable Inventory is more than three hundred and thirty (330) days old.
Slow Moving means, with respect to Inventory, Inventory that has been owned by a Borrower or SDI Canada for the length of time after which such Inventory is required to be purchased by the customer under the Customer Contract relating to such Inventory.
Slow Moving means Parts Inventory held in excess of three years of usage.
Examples of Slow Moving in a sentence
All grooming equipment and vehicles shall be clearly marked with "Slow Moving Vehicle" signs to safeguard other Trail users.
Vendor shall provide Blue Coat with a monthly report setting forth the number of Slow Moving Inventory, Excess Components and Obsolete Components.
Subject to the notification requirements set forth herein, Vendor will exercise commercially reasonable efforts to mitigate Blue Coat’s liability for Excess Components, Obsolete Components Slow Moving Inventory and Special Components, including, without limitation, by canceling or rescheduling materials orders, selling materials or utilizing the materials for other customers.
All Eligible Inventory and Slow Moving Inventory are now and at all times hereafter shall be of good and merchantable quality, free from defects.
The methodology and judgment used in preparing Schedule 4.16 will be utilized to determine which items of Product Inventory shall be exempt from the thirty-five percent (35%) discount (i.e. valued at one hundred percent (100%) cost, despite otherwise falling within the definition of Slow Moving Inventory) at Closing.
More Definitions of Slow Moving
Slow Moving with respect to inventory shall mean all inventory in excess of the most recent total of twelve (12) months' external customer shipments in cases before the Closing Date, which slow moving inventory shall be valued at fifty percent (50%) of cost. The use of the term "obsolete" with respect to inventory shall mean all inventory where the most recent total of twelve (12) months before the Closing Date for all external customer shipments in cases is zero, except for newly introduced products, which obsolete inventory shall be valued at zero. The use of the term "damaged" with respect to inventory shall mean all inventory contributed by WinCup which is ripped, torn, defaced or squashed, which damaged inventory shall be valued at zero. The term "obsolete" with respect to spare parts shall mean those spare parts which are no longer used in the production process, which obsolete spare parts shall be valued at zero.
Slow Moving means (a) with respect to parts, Inventory held in excess of three years of usage, and (b) with respect to all other Inventory, such holding times as shall be determined by the Administrative Agent in its Permitted Discretion.
Slow Moving means any inventory held for sale for greater than one (1) year. In determining the value of Acceptable Inventory to be included in the Borrowing Base, the Bank will use the lowest of (i) the Borrower’s cost, (ii) the Borrower’s estimated market value, or (iii) the Bank’s independent determination (in the exercise of its Permitted Discretion) of the resale value of such inventory in such quantities and on such terms as the Bank deems appropriate. After calculating the Borrowing Base as provided above, the Bank may deduct such reserves as the Bank may establish from time to time in its Permitted Discretion, including, without limitation, reserves for rent at leased locations subject to statutory or contractual landlord’s liens, inventory shrinkage, dilution, customs charges, warehousemen’s or bailees’ charges, and the amount of estimated maximum exposure, as reasonably determined by the Bank from time to time, under any interest rate contracts which the Borrower enters into with the Bank (including interest rate swaps, caps, floors, options thereon, combinations thereof, or similar contracts).
Slow Moving means (a) with respect to Parts Inventory, Parts Inventory held in excess of three years of usage, and (b) with respect to Used Truck Inventory, Used Truck Inventory held in excess of one year of usage.”
Slow Moving means with respect to Inventory of Borrower, the amount of Inventory in any SKU in excess of the prior six months' sales of such SKU, with allowance for new products as determined by Lender.
Slow Moving means (i) with respect to returnable parts, returnable parts older than twelve months and, (ii) with respect to new vehicles, new vehicles older than 300 days; and (iii) with respect to other inventory, as may be reasonably determined by the Buyer, the Sellers having a right to arbitrate disputes with respect to such other inventory provided, however, that the valuation process described above shall control with respect to all used vehicles. If within 30 days following delivery of the Closing Balance Sheet (or the next Business Day if such 30th day is not a Business Day), the Sellers' Agent has not given the Buyer notice of the Sellers' objection to the computation of the Net Current Assets as set forth in the Closing Balance Sheet (such notice to contain a statement in reasonable detail of the nature of the Sellers' objection), then the Net Current Assets reflected in the Closing Balance Sheet will be deemed mutually agreed by the Buyer and the Sellers. If the Sellers' Agent shall have given such notice of objection in a timely manner, then the issues in dispute will be submitted to a "Big Six" accounting firm mutually acceptable to the Buyer and the Sellers' Agent (the "ACCOUNTANTS") for resolution. If issues in dispute are submitted to the Accountants for resolution, (i) each party will furnish to the Accountants such workpapers and other documents and information relating to the disputed issues as the Accountants may request and are available to the party or its subsidiaries (or its independent public accountants), and will be afforded the opportunity to present to the Accountants any material relating to the determination and to discuss the determination with the Accountants; (ii) the Accountants will be instructed to determine the Net Current Assets based upon their resolution of the issues in dispute; (iii) such determination by the Accountants of the Net Current Assets, as set forth in a notice delivered to the parties by the Accountants, will be binding and conclusive on the parties; and (iv) the Buyer and the Sellers shall each bear 50% of the fees and expenses of the Accountants for such determination.
Slow Moving means finished stock or work in progress in respect of which firm orders have been placed the implementation date for which is more than 1 (one) month after the effective date or the date of completion of the work in progress, or in respect of which no firm orders have been placed at all as at the effective date;