Unprocessed Inventory definition

Unprocessed Inventory means: (i) all scrap ferrous metal comprised of obsolete, discarded or abandoned machinery, appliances, equipment, automobiles or other by-products to be processed by ARC for resale; and (ii) scrap non-ferrous metal comprised of non-magnetic alloys of copper, brass, aluminum and other related metals to be processed by ARC for resale. Unprocessed Inventory does not include any ferrous or non-ferrous materials contained in Shredder Residue or the other residual materials resulting from ARC's operations or contained within dirt or other non-processable medium within the Owned Facility.
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Unprocessed Inventory means all scrap ferrous metal comprised of obsolete, discarded or abandoned machinery, appliances, equipment, automobiles or other by-products to be processed by Seller for resale and all scrap non-ferrous metal comprised of non-magnetic alloys of copper, brass, aluminum and other related metals to be processed by Seller for resale. Unprocessed Inventory does not include any ferrous or non-ferrous materials contained in the residual materials resulting from Seller's operations or contained within dirt or other non-processable medium within the Real Property of Seller.
Sample 1
Unprocessed Inventory means: (i) all scrap ferrous metal comprised of materials such as obsolete, discarded or abandoned machinery, appliances, equipment, automobiles, metal manufacturing scrap, casting and fabricating scrap materials or other consumer and industrial ferrous goods or by-products to be processed by shearing, torching, baling or otherwise rendered suitable by Seller for its customers' consumption; and (ii) scrap nonferrous metal comprised of various nonmagnetic alloys or co-mingled ferrous and nonferrous which traditionally would be processed by Seller before shipment. Unprocessed Inventory does not include any nonsaleable ferrous or nonferrous materials resulting from Seller's operations or contained within dirt or other nonprocessable medium within the Owned Facility.
Sample 1

Examples of Unprocessed Inventory in a sentence

  • The piles of Unprocessed Inventory observed and measured on the Inventory Date are located on level ground and are comprised solely, throughout the pile, of the quality and grade of material visible on the outer surface of the pile.

  • In conjunction with the determination of the quantities of Unprocessed Inventory, RIGI and its representatives shall be entitled to participate in determining the physical inventory thereof as well as to inspect all work papers, schedules and other supporting materials.

  • Subject to Section 10.14 below, RISCI shall pay the total amount of $6,000,000 plus an amount equal to the value of AIC's Unprocessed Inventory, as determined in accordance with Section 3.2, below in immediately available funds at Closing (the "Purchase Price") to AIC for the purchase of the AIC Assets.

  • The Inventory and Supply Inventory which Seller is selling to Buyer consists of Processed and Unprocessed Inventory, manufactured and purchased parts and supplies, substantially all of which is merchantable and fit for the purpose for which it was procured or manufactured, subject to only the reserve for inventory writedown set forth in the Seller Financial Statements, as adjusted for the passage of time through the Closing Date in accordance with past custom and practice of Seller.

Related to Unprocessed Inventory

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • Transferred Inventory has the meaning set forth in Section 1.1(e).

  • 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.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Obsolete Inventory means items that have expired, are redundant or

  • 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 Borrowers’ business.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Eligible Inventory means, with respect to any Borrower, all Trailers (less than ten years old), Aircraft and Aircraft engines complying with Stage III noise reduction requirements, Railcars (less than twenty-five years old), marine containers (less than ten years old), and, if approved by the Requisite Lenders, other related Equipment, in each case that (a) is owned of record by such Borrower or a Marine Subsidiary of such Borrower (or jointly by such Borrower and one or more of the other Borrowers) or, subject to the approval of Agent, any Owner Trustee of which such Borrower is the sole beneficiary or owner (or is the beneficiary or owner jointly with one or more of the other Borrowers), as applicable, (b) is subject to a Lease acceptable to Agent in its sole discretion (as reviewed in full in connection with each requested borrowing hereunder), which Lease shall, at a minimum, (A) be non-cancelable, (B) be with a lessee of acceptable credit quality as determined by Agent, and (C) be of a firm term in excess of one (1) year, except that cargo-containers and Trailers may be on Utilization Leases; (c) has a value and marketability reasonably satisfactory to the Agent; and (d) is free and clear of all Liens, except (i) any interest of a lessee thereof pursuant to a Lease entered into with such Borrower or a Marine Subsidiary of such Borrower or such Borrower’s or such Marine Subsidiary’s predecessor in interest or such Owner Trustee or nominee entity, as lessor, or (ii) as otherwise permitted by Section 6.1, provided that any Liens of the type permitted under clause (ii) encumbering any item of Equipment shall not secure obligations in amounts which materially impair the equity value in such item of Equipment. Requisite Lenders in their sole discretion, on a case by case basis, may approve other items or types of Equipment for credit under "Eligible Inventory" from time to time. Equipment which is Eligible Inventory will cease to be Eligible Inventory at any time it no longer continues to meet all of the above requirements.

  • Finished Goods means completed goods which require no additional processing or manufacturing to be sold to third party customers by the Loan Parties in the ordinary course of business.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Scrap means property that has no value except for its basic material content. For purposes of demilitarization, scrap is defined as recyclable waste and discarded materials derived from items that have been rendered useless beyond repair, rehabilitation, or restoration such that the item’s original identity, utility, form, fit, and function have been destroyed. Items can be classified as scrap if processed by cutting, tearing, crushing, mangling, shredding, or melting. Intact or recognizable components and parts are not “scrap.”

  • Excess Concentration means the sum of the following amounts, without duplication:

  • Raw Materials means all raw materials, supplies, components and packaging necessary to manufacture and ship the Product in accordance with the Specifications, as provided in Exhibit A, but not including the API.

  • Raw material means any unprocessed material in its raw or natural state that is intended to become part of the components of a cannabis product.

  • Off-label use means the prescription and use of drugs for indications other than those stated in the labeling approved by the federal Food and Drug Administration.[PL 1997, c. 701, §1 (NEW).]

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Inventory Value means with respect to any Inventory of a Loan Party at the time of any determination thereof, the standard cost determined on a first in first out basis and carried on the general ledger or inventory system of such Loan Party stated on a basis consistent with its current and historical accounting practices, in Dollars, determined in accordance with the standard cost method of accounting less, without duplication, (i) any markup on Inventory from an Affiliate and (ii) in the event variances under the standard cost method are expensed, a Reserve reasonably determined by the Agent as appropriate in order to adjust the standard cost of Eligible Inventory to approximate actual cost.