Wholesale Inventory definition
Examples of Wholesale Inventory in a sentence
Without in any way limiting the foregoing, each Borrower shall establish and maintain a Blocked Account into which all proceeds from the sale of Wholesale Inventory will be deposited and a Blocked Account into which all proceeds from the sale of Retail Inventory will be deposited.
Seven days prior to Closing, Sellers shall deliver Schedule 2.6(a) to Purchaser, which schedule shall contain an itemized listing of Sellers’ good-faith best estimate of the Wholesale Inventory owned by Sellers as of the EffectiveClosing Date and the corresponding Inventory Cost Value of each item of Wholesale Inventory (such schedule, the “Estimated Wholesale Inventory Schedule”).
Notwithstanding anything to the contrary set forth herein, Borrowers hereby acknowledge, confirm and agree that the maximum amount of Wholesale Inventory which may be considered Eligible Inventory for advance purposes hereunder shall not exceed, at any given time, the aggregate amount of $11,000,000.
At the Closing, in accordance with Section 3.3, Purchaser shall pay to Sellers an amount equal to the Inventory Cost Value of the Wholesale Inventory set forth on the Final Wholesale Inventory Schedule (the “Wholesale Inventory Purchase Price”).
Notwithstanding anything herein to the contrary, Reserves shall not duplicate eligibility criteria contained in the definition of Eligible Credit Card Receivables, Eligible Inventory, Eligible Letter of Credit, Eligible Retail Inventory, Eligible Wholesale Inventory or Eligible Trade Receivables, or reserves or criteria deducted in computing the Appraised Value of Eligible Inventory or Inventory supported by an Eligible Letter of Credit.