Timberland Inventory Update definition
Timberland Inventory Update means an annual inventory and acreage update with respect to the Timberlands delivered to the Administrative Agent, in accordance with Section 6.13 hereof, which update shall be provided by the Borrowers and which shall include, without limitation, (i) an update of timber inventory reflecting depletion and growth of the timber as of December 31st of the prior year (which shall reflect any Timberlands added or disposed of since the Timberland Valuation Update most recently delivered) and (ii) an indication of the total acreage comprising the Timberlands.