Supplemental Inventory definition

Supplemental Inventory means the additional $2.5 million in inventory to be transferred from Oclaro to Venture Penang in accordance with Section 2.5 below.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Supplemental Inventory means Inventory (a) that is new and whose acquisition by Dealer was not financed by DFS pursuant to the Floorplan Facility between DFS and Dealer; (b) that is used, remanufactured and/or refurbished telephone parts that are suitable for resale in the ordinary course of Dealer's business; (c) that is not obsolete or unmerchantable; (c) that is in good and salable condition; (d) that conforms to the representations and warranties of this Agreement; (e) that is at all times subject to DFS' duly perfected first priority security interest and no other lien or encumbrance of any kind; and (f) that DFS deems, in its sole discretion, to be acceptable for financing pursuant to this section.

Supplemental Inventory means Dealer's Inventory (a) which is aged less than one hundred fifty (150) days from the date of invoice; (b) that conforms to the representations and warranties of Sections 4 and 29.7 of this Agreement; (c) that is in Dealer's possession and control and is at all times subject to DFS' duly perfected first priority security interest; and (e) that DFS deems, in its sole discretion, to be acceptable for financing pursuant to this Section.

Examples of Supplemental Inventory in a sentence

Subject to the terms of this Agreement, DFS agrees to provide to Dealer a Supplemental Inventory Facility of Twenty Million and no/100 Dollars ($20,000,000.00).
If OEM increases the Supplemental Inventory, then OEM will, prior to Netronome implementing such increase, provide additional funds to Netronome to proportionately increase the amount of the Supplemental Deposit.
To the extent consistent with the terms of the Supplemental Inventory Facility, the other terms of this Agreement shall apply to the Supplemental Inventory Facility.
OEM may change the composition of the Equipment in the Supplemental Inventory List at any time it submits a Forecast to Netronome.
Advances under the Supplemental Inventory Facility will be made by DFS, at Dealer's direction, by paper check or Electronic Transfer.
Any notice not specifying the type of Supplemental Inventory Loan shall be deemed a request for a Prime Rate Loan.
Supplemental Inventory will not be financed under the Floorplan Facility and references to "Inventory" in this Section 2.2 shall not include Supplemental Inventory.
Netronome will work with its suppliers and use commercially reasonable efforts to ensure that components with long lead times will be available to support the Supplemental Inventory List.
In accordance with and pursuant and subject to the terms of Section 11 of this Agreement, DFS will send Dealer a monthly billing statement identifying all interest, fees and other charges due on the Supplemental Inventory Facility.
The Supplemental Inventory List shall include the quantity of each type of Equipment and the applicable Netronome product identification numbers.

More Definitions of Supplemental Inventory

Supplemental Inventory shall have the meaning set forth in Section 2.4.2.

Supplemental Inventory means the inventory of the Business set forth on Exhibit C, which: (i) has a $0 value; (ii) the Company will transfer to Purchaser "as is" upon Closing; and (iii) is excluded from the definition of "Purchased Asset" or "Business" for purposes of the Company's representations and warranties under this Agreement.

Supplemental Inventory has the meaning specified in the definition of “Eligible Supplemental Inventory”.