Used Inventory definition

Used Inventory means Inventory of the Borrowers that has been (a) previously sold at retail, (b) registered or titled in any state or jurisdiction, or registered as a Documented Vessel, (c) purchased or acquired by the Borrowers from a source other than the manufacturer, or (d) Units of Used Inventory originally acquired by Borrowers as Eligible New Inventory, but held by the Borrowers for more than two (2) years from the date of delivery to the Borrowers (and in the case of Inventory covered by this clause (d), then the Borrowers shall be deemed to have held such Inventory as "Used Inventory" only from such two year date onward).

Used Inventory means Inventory of the Borrowers that has been (a) previously sold at retail, (b) registered or titled in any state or jurisdiction, or registered as a Documented Vessel, or (c) purchased or acquired by the Borrowers from a source other than the manufacturer.

Used Inventory means Inventory of the Dealers that has been (a) previously sold at retail, (b) registered, documented or titled in any state or jurisdiction, (c) purchased or acquired by the Dealers from a source other than the manufacturer, or (d) held by the Dealers for more than two years (and in the case of Inventory covered by this clause (d), then the Dealers shall be deemed to have held such Inventory as "Used Inventory" only from such two year date onward).

Examples of Used Inventory in a sentence

• For example, a dealer could apply for a $300,000 floor plan line of credit to support New Inventory and a $200,000 floor plan line of credit to support Used Inventory.

• Borrower agrees, that until all Advances have been paid in full or this Loan Agreement has been terminated pursuant to Section 3, to pay the actual cost, subject to a mutually agreeable cap, for an annual evaluation of the Eligible Inventory and Eligible New and Used Inventory (collectively referred to as "Inventory" for purposes of this Section).

• Borrower agrees to provide to DFS by the fifteenth (15th) day of each month, or more frequently if requested by DFS, in each case as of the last day of the immediately prior month, each of the following: (a) Borrowing Base Certificate; (b) listing of each unit of New Inventory and Used Inventory, together with the date of purchase and Cost thereof; (c) listing of all Parts; and (d) aging of all accounts receivable (the "Monthly Reports").

• Subject to the terms of this Agreement, DFS agrees, for so long as no Default exists, to provide to Borrower working capital financing (each advance being a "Revolving Credit Loan") on Eligible Used Inventory and Eligible Parts in the maximum aggregate unpaid principal amount at any time not to exceed the lesser of (i) the Borrowing Base and (ii) Five Million Five Hundred Thousand Dollars ($5,500,000)) ("Total Revolving Credit Limit").

• The Lender's obligation to forbear or advance funds hereunder is subject to repayment by the Borrowers of Advances made on all Eligible New Inventory and Eligible Used Inventory which have been previously sold but are delinquent as of the date hereof (the "Sold Not Paid Units").

More Definitions of Used Inventory

Used Inventory means Inventory consisting of used merchandise held for retail sale in the ordinary course of the business of Borrower. The term "Eligible Used Inventory" shall mean Used Inventory, consisting of audio recordings on compact disk, that would otherwise qualify as Eligible Inventory, bur for the fact that such Inventory is in used condition. Any Used Inventory that is not Eligible Used Inventory shall nevertheless be part of the Collateral.

Used Inventory is defined herein to mean any item of Inventory that has been: (i) previously sold at retail; and/or (ii) registered or titled in any state.

Used Inventory means all Borrower's Direct Used Inventory and Indirect Used Inventory.

Used Inventory means whole goods Inventory and serialized attachments held for sale, but not for rental or lease, showing more than two hundred fifty (250) hours of usage.

Used Inventory means Inventory of the Borrowers that has been (a) previously sold at retail, (b) registered or titled in any state or jurisdiction, or registered as a Documented Vessel, (c) purchased or acquired by the Borrowers from a source other than the manufacturer, or

Used Inventory means Inventory of any Borrower that (a) has been -------------- previously sold at retail, or (b) has been registered, documented or titled in any state or jurisdiction, or (c) has been purchased or acquired by a Borrower from a source other than the manufacturer, and (d) is not more than nine model years old.

Used Inventory means Inventory owned by a Xxxxxx Borrower that has been (a) used for an intended end-user purpose and (b) titled in the name of a Person other than (i) a Xxxxxx Borrower or (ii) the manufacturer thereof, in each case prior to its acquisition by one of the Xxxxxx Borrowers.