UK Inventory Formula Amount definition

UK Inventory Formula Amount the sum of (a) the lesser of (i) 65% of the Value of Eligible UK Inventory; and (ii) 85% of the NOLV Percentage of the Value of Eligible UK Inventory, plus (b) the lesser of (i) 65% of the Value of Eligible UK In-Transit Inventory; and (ii) 85% of the NOLV Percentage of the Value of Eligible UK In-Transit Inventory.
UK Inventory Formula Amount. (a) the lesser of (i) 70% of the Value of UK Eligible Inventory or (ii) 85% of the NOLV Percentage of the Value of UK Eligible Inventory; plus (b) the lesser of (i) 70% of the Value of Eligible In-Transit Inventory owned by UK Borrower or (ii) 85% of the NOLV Percentage of the Value of Eligible In-Transit Inventory owned by UK Borrower; provided that (i) prior to the date that the conditions set forth in clause (b) of the definition of “Eligible In-Transit Inventory” are met, whether or not an Eligible In-Transit Inventory Trigger Period has occurred and is continuing, the Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Borrowers shall not exceed an aggregate amount of $10,000,000 at any time and (ii) the Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Foreign Borrowers that is in transit to Mexico shall not exceed an aggregate amount of $2,000,000 at any time.
UK Inventory Formula Amount the sum of (a) the lesser of (i)(A) during the FILO Period, 75% of the Value of Eligible UK Inventory and (B) thereafter, 65% of the Value of Eligible UK Inventory; and (ii)(A) during the FILO Period, 95% of the NOLV Percentage of the Value of Eligible UK Inventory, and (B) thereafter, 85% of the NOLV Percentage of the Value of Eligible UK Inventory, plus (b) the lesser of (i) 65% of the Value of Eligible UK In-Transit Inventory; and (ii) 85% of the NOLV Percentage of the Value of Eligible UK In-Transit Inventory. UK Inventory Reserve: reserves established by Agent to reflect factors that may negatively impact the Value of UK Borrower’s Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

Examples of UK Inventory Formula Amount in a sentence

  • U.K. Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the result of: (i) the Maximum U.K. Facility Amount, minus (ii) the U.K. LC Reserve, minus (iii) the U.K. Top Golf Reserve; or (b) the result of: (i) the U.K. Accounts Formula Amount, plus (ii) the U.K. Inventory Formula Amount, plus (iii) 100% of the amount of U.K. Pledged Cash, minus (iv) the U.K. Availability Reserve.

  • Many retailers own and run their own distribution networks, while smaller retailers may outsource this function to dedicated logistics firms (known as “third party logistics”, or 3PL) that coordinate the distribution of products for a number of companies.

  • UK Borrowing Base: on any date of determination, an amount equal to the result of (i) 95% of the Value of Eligible UK Accounts, plus (ii) the UK Inventory Formula Amount, minus (iii) the UK Availability Reserve, minus (iv) Reserves in respect of the UK Borrowing Base.

  • Term Loan UK Borrowing Base: the UK Borrowing Base as calculated hereunder; provided that such calculation shall be based on (a) each numerical advance rate utilized in the UK Accounts Formula Amount being deemed to be 95% and (b) each numerical advance rate utilized in the UK Inventory Formula Amount being deemed to be 100%.

  • Bearing in mind the robustness of the Pitot tube measurements, the best values issued from UVP are obtained with crushed nut shell as seeding particles.

  • UK Borrower: as defined in the preamble to this Agreement.UK Borrowing Base: on any date of determination, a Dollar Equivalent amount equal to the lesser of (a) the aggregate UK Revolver Commitments or(b) the UK Accounts Formula Amount, plus the UK Inventory Formula Amount, minus the UK Availability Reserve.

  • Acceptance of the Binding Request by GPE will be made on a FCFS-basis for Long-Term – and Medium-Term Agreements; for both Level I Storage Capacity and Level II Storage Capacity, acceptance will be made separately.


More Definitions of UK Inventory Formula Amount

UK Inventory Formula Amount the sum (without duplication) of (a) 95% of the NOLV Percentage of the Value of Eligible UK Inventory of the UK Borrower, plus (b) 95% of the NOLV Percentage of the Value of Eligible UK In-Transit Inventory of the UK Borrower.
UK Inventory Formula Amount the sum of (A) the lesser of (1) 65% of the Value of Eligible UK Finished Goods and (2) 85% of the NOLV Percentage of the Eligible UK Finished Goods; plus (B) the lesser of (1) 65% of the Value of Eligible UK Raw Materials Inventory and (2) 85% of the NOLV Percentage of Eligible UK Raw Materials Inventory; plus (C) the lesser of (i) 50% of the Value of UK Work-In-Progress Inventory and (ii) 85% of the NOLV Percentage of UK Work-In-Progress Inventory minus any Preferential Indebtedness. UK LC Application: an application by Borrower Agent to Issuing Bank for issuance of a UK Letter of Credit, in form and substance reasonably satisfactory to Issuing Bank. UK LC Conditions: the following conditions necessary for issuance of a UK Letter of Credit: (a) each of the conditions set forth in Section 6; (b) after giving effect to such issuance, total UK LC Obligations do not exceed the UK Letter of Credit Subline, no UK Overadvance exists and, if no UK Revolver Loans are outstanding, the UK LC Obligations do not exceed the UK Borrowing Base (without giving effect to the UK LC Reserve for purposes of this calculation); (c) the expiration date of such UK Letter of Credit is (i) no more than 365 days from issuance, in the case of standby UK Letters of Credit, (ii) no more than 120 days from issuance, in the case of documentary UK Letters of Credit, and (iii) at least 10 Business Days prior to the Revolver Termination Date (except, in each case, for UK Letters of Credit which include an automatic renewal period); (d) the UK Letter of Credit and payments thereunder are denominated in Pounds Sterling; (e) the purpose and form of the proposed UK Letter of Credit is reasonably satisfactory to Agent and Issuing Bank in their discretion; and (f) prior to or upon giving effect to the issuance of such UK Letter of Credit, no Default or Event of Default exists or would exist. UK LC Documents: all documents, instruments and agreements (including UK LC Requests and UK LC Applications) delivered by UK Borrowers or any other Person to Issuing Bank or Agent in connection with issuance, amendment or renewal of, or payment under, any UK Letter of Credit.

Related to UK Inventory Formula Amount

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrower’s business.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Borrowing Base Amount means:

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Eligible Accounts means those Accounts that arise in the ordinary course of Borrower's business that comply with all of Borrower's representations and warranties to Bank set forth in Section 5.4; provided, that standards of eligibility may be fixed and revised from time to time by Bank in Bank's reasonable judgment and upon notification thereof to Borrower in accordance with the provisions hereof. Unless otherwise agreed to by Bank, Eligible Accounts shall not include the following: