Spare Parts Inventory definition

Spare Parts Inventory means spare parts capable of being used and affixed to, but not yet being use or affixed to, production machinery employed by any Borrower to create Inventory in the ordinary course of business. Spare Parts Inventory shall not include catalysts, refractory, production chemicals or emissions credits.

Spare Parts Inventory has the meaning given to it in Section 2.1.1(e).

Spare Parts Inventory all Inventory consisting of “parts and supplies” as shown on the balance sheet of the Company and its Subsidiaries but, for the avoidance of doubt, shall not include “work-in-progress” as shown on the balance sheet of the Company and its Subsidiaries.

Examples of Spare Parts Inventory in a sentence

• It is the intention of the parties that the Necessary Spare Parts Inventory be used and maintained during the Warranty Period in order for Supplier to fulfill its obligations under the OMS Agreement and the Warranty Agreement.

• In addition, FSI may reject, in its sole discretion, and FSI shall have no obligation to repurchase Product Inventory or Spare Parts Inventory that was purchased by Metron or the relevant Metron Selling Affiliate, with respect to SCD system Products, more than one (1) year prior to the Closing Date, and, with respect to MLD system Products, more than two (2) years prior to the Closing Date.

• Metron shall and shall cause the Metron Selling Affiliates to deliver the Product Inventory, Spare Parts Inventory and Demonstration Equipment purchased by the FSI Purchasing Affiliates on the Closing Date free and clear of all Liens in accordance with the Transition Plan and the written instructions of FSI and pursuant to the documents and instruments to be delivered by Metron pursuant to Section 8.4(b).

• The foregoing shall exclude Product Inventory and Spare Parts Inventory held for sale in Israel.

• The terms and conditions of FSI’s then current Spare Parts policy in effect under the Distribution Agreement (including the restrictions on repurchase of obsolete Spare Parts inventory) shall otherwise apply to the repurchase of Spare Parts Inventory hereunder, except to the extent such Spare Parts policy contradicts or is inconsistent with the express terms and conditions in this Article III.

More Definitions of Spare Parts Inventory

Spare Parts Inventory has the meaning given such term in Section 3.1(a).

Spare Parts Inventory means all Inventory consisting of parts and supplies held for sale, use or consumption in the ordinary course of the Borrowers' business and satisfactory to Agent in Agent's Permitted Discretion.

Spare Parts Inventory means the replacement components and parts as set out in Part I of Schedule 1 and, the special tools and adaptor assemblies as set out in Part II of Schedule 1, as amended from time to time.

Spare Parts Inventory means all spare parts held for use in the operation of the Facility and located at the Facility as of the Closing Date.

Spare Parts Inventory means the stock of spare parts to be maintained on site during the Term in accordance with the provisions of this Agreement.

Spare Parts Inventory means the inventory set out in Part 3 of Exhibit 4.

Spare Parts Inventory means the inventory set forth in Schedule 3 attached hereto with such additions, subtractions and modifications as may result from the conduct of the Seller's business in the ordinary course prior to Closing.