Used Truck Inventory definition

Used Truck Inventory has the meaning assigned to the term “Used Truck Inventory” as defined in the ABL Security Agreement, as in effect on the First Amendment Effective Date.

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Used Truck Inventory has the meaning assigned to such term in the Security Agreement.

Used Truck Inventory means Inventory consisting of (A) trucks for which a certificate of title has been previously issued to a third party and which have been previously owned by a third party and (B) to the extent not included in clause (A), used trucks identified as such on the books and records of the Company.

Examples of Used Truck Inventory in a sentence

• Borrower shall conduct any sales, assignments, conveyances, transfers or other dispositions of Parts Inventory and Used Truck Inventory other than in the ordinary course of business in such a manner so as to remain in compliance with the Borrowing Base at all times.

• If Grantor leases any warehouse or distribution facility after the First Amendment Effective Date, Grantor shall use commercially reasonable efforts to promptly obtain a Collateral Access Agreement for such leased warehouse or distribution facility with respect to the locations with an aggregate value in excess of $1,000,000 of Parts Inventory and Used Truck Inventory, collectively.

• The Agent and each Lender party hereto hereby agrees that after the Effective Date, Borrower shall be permitted to revert to monthly Borrowing Base Certificates commencing on the date that both (x) Used Truck Inventory is included in the Borrowing Base, pursuant to the definition thereof and (y) the Administrative Agent has received a Borrowing Base Certificate demonstrating that Excess Availability is greater than or equal to $17,500,000.

More Definitions of Used Truck Inventory

Used Truck Inventory means all used trucks held for resale and owned by Seller.

Used Truck Inventory means all used trucks held for resale and owned by Seller. "Waste Materials" shall have the meaning assigned to it in Section 4.16.