Slow Moving Reserve definition
Slow Moving Reserve means reserves with respect to Eligible Inventory located in the Borrowers' warehouses equal to 50% of the value of general merchandise Inventory plus 100% of the value of all other Inventory (i.e. grocery, frozen, meat, dairy products and the like), which in each case was received more than 120 days prior to the date of determination.
Slow Moving Reserve means, calculated as of the first day of each month, the greater of (i) the Finished Goods Book Reserve, or (ii) the amount of Slow Moving Inventory.
Slow Moving Reserve with respect to the Borrower and its --------------------- Domestic Subsidiaries, at any date, the amount equal to the result of (a) 3% (this percentage will be reviewed by the Administrative Agent on an annual basis and adjusted based upon appropriate monitoring of excess, slow-moving and obsolete inventory items) multiplied by (b) the amount of Eligible -------------- Inventory at such date.
More Definitions of Slow Moving Reserve
Slow Moving Reserve a reserve equal to Inventory in excess of a 52 week supply based on sales for the preceding 52 weeks and determined on an individual SKU basis excluding core Inventory which shall be updated and revised from time to time in the Administrative Agent's sole reasonable discretion.
Slow Moving Reserve means a dollar amount determined by multiplying Borrower’s Eligible Inventory by a percentage (as of the date of this agreement based upon twenty-nine percent (29%); provided, however, that such percentage may at any time after the date of this Agreement be changed by Bank in its sole discretion) which sum shall be subtracted from Borrower’s Eligible Inventory to reserve for items of Inventory for which the Bank determines, in its sole discretion, to be slow moving and/or obsolete.