Eligible Inventory Definition Example with 8 Variations

This page contains an example definition of Eligible Inventory, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Eligible Inventory. Means Inventory which Silicon, in its* deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Inventory which does not meet the following requirements will not be deemed to be Eligible Inventory: Inventory which (i) consists of finished goods, in good, new and salable condition which is not perishable, not obsolete or... unmerchantable, and is not comprised of raw materials, work in process, packaging materials or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms in all respects to the warranties and representations set forth in this Agreement; (v) is at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is situated at a one of the locations set forth on the Schedule. *GOOD FAITH BUSINESS JUDGMENT View More Arrow
Found in VERSO TECHNOLOGIES INC contract

Variations

Eligible Inventory. Means Inventory means Inventory, which Silicon, Lender, in its* its sole judgment, deems eligible for borrowing, based on such considerations as Silicon Lender may from time to time deem appropriate. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Lender's discretion, Inventory which does not meet the following requirements will not be deemed to be Eligible Inventory: Inventory which (i) consists of finished goods, in good,... new and salable condition which is not perishable, not obsolete or unmerchantable, and is not comprised of raw materials, work in process, packaging materials or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms in all respects to the warranties and representations set forth in this Agreement; Agreement: (v) is at all times subject to Silicon's Lender's duly perfected, first priority security interest; and (vi) is situated at a one of the locations set forth on Schedule 1. Notwithstanding the Schedule. *GOOD FAITH BUSINESS JUDGMENT foregoing, Lender shall have the right, from time to time and in its sole and absolute discretion, to waive one or more of the foregoing requirements without creating any express or implied obligation to accept non-conforming Inventory as Eligible Inventory in the future. View More Arrow
Found in VERSANT CORP contract
Eligible Inventory. Means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. borrowing. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Silicon's good faith business judgment, the requirements in the remainder of this definition are the minimum requirements for Inventory which does not meet the following requirements... will not be deemed to be Eligible Inventory: the Inventory which must (i) consists consist of finished goods, goods *, in good, new and salable condition which is condition, not be perishable, not be obsolete or unmerchantable, and is not be comprised of raw materials, work in process, packaging materials or supplies; (ii) meets meet all applicable governmental standards; (iii) has have been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms conform in all respects to the warranties and representations set forth in this Agreement; (v) is be at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is be situated at a Borrower's Address or at one of the locations set forth on the Schedule. *GOOD **. * OR RAW MATERIALS ** BORROWER'S LOCATIONS SET FORTH IN THE REPRESENTATIONS (OR (y) AT A THIRD-PARTY LOCATION SET FORTH IN THE REPRESENTATIONS IF AND TO THE EXTENT THE INVENTORY LOCATED AT SUCH THIRD-PARTY LOCATION IS SUBJECT TO A BAILEE AGREEMENT, IN FORM AND SUBSTANCE SATISFACTORY TO SILICON IN ITS GOOD FAITH BUSINESS JUDGMENT JUDGMENT, BY THE APPLICABLE THIRD PARTY IN FAVOR OF SILICON, OR (z) AT SUCH OTHER LOCATION(s), IF ANY, THAT SILICON APPROVES IN ITS GOOD FAITH BUSINESS JUDGMENT) View More Arrow
Found in Isilon Systems, Inc. contract
Eligible Inventory. Means means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. borrowing. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Inventory which does not meet Silicon's good faith business judgment, the following are the minimum requirements will not be deemed for Inventory to be Eligible Inventory: the... Inventory which must (i) consists consist of finished *finished goods, in good, new and salable condition which is condition, not be perishable, not be obsolete or unmerchantable, and is not be comprised of raw materials, work in process, process**, packaging materials or supplies; (ii) meets meet all applicable governmental standards; (iii) has have been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms conform in all respects to the warranties and representations set forth in this Agreement; (v) is be at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is be situated at a Borrower's Address or at one of the locations set forth on in the Schedule. *GOOD FAITH BUSINESS JUDGMENT Representations***. *raw materials, work in process (at direct material cost) or **not included above ***and (vii) not consist of any demonstration equipment View More Arrow
Found in Applied Precision, Inc. contract
Eligible Inventory. Means means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. borrowing*. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Inventory which does not meet Silicon's good faith business judgment, the following are the minimum requirements will not be deemed for Inventory to be Eligible Inventory: the... Inventory which must (i) consists consist of finished **finished goods, in good, new and salable condition which is condition, not be perishable, not be obsolete or unmerchantable, and is not be comprised of raw materials, work in process, packaging materials or supplies; (ii) meets meet all applicable governmental standards; (iii) has have been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms conform in all respects to the warranties and representations set forth in this Agreement; (v) is be at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is be situated at a Borrower's Address or at one of the locations set forth on in the Schedule. *GOOD FAITH BUSINESS JUDGMENT Representations***. *and which constitutes "Eligible Export-Related Inventory" (as defined in the Exim Borrower Agreement referred to in the Schedule) **raw materials, work in process or ***and (vii) not consist of any demonstration equipment View More Arrow
Found in Applied Precision, Inc. contract
Eligible Inventory. Means means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. borrowing. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Inventory which does not meet Silicon's good faith business judgment, the following are the minimum requirements will not be deemed for Inventory to be Eligible Inventory: the... Inventory which must (i) consists consist of * finished goods, in good, new and salable condition which is condition, not be perishable, not be obsolete or unmerchantable, and is not be comprised of raw materials, work in process, packaging materials or supplies; (ii) meets meet all applicable governmental standards; (iii) has have been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms conform in all respects to the warranties and representations set forth in this Agreement; (v) is be at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is be situated at a Borrower's Address or at one of the locations set forth on in the Schedule. *GOOD FAITH BUSINESS JUDGMENT Representations. *raw materials and View More Arrow
Found in QUINTON CARDIOLOGY SYSTEMS INC contract
Eligible Inventory. Means means Inventory which Silicon, in its* its sole judgment, deems ------------------- eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. appropriate*. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Silicon's discretion, Inventory which does not meet the following requirements will not be deemed to be Eligible Inventory: Inventory which (i) consists of raw materials... or finished goods, in good, new and salable condition which is not perishable, not obsolete or unmerchantable, and is not comprised of raw materials, work in process, packaging materials or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms in all respects to the warranties and representations set forth in this Agreement; (v) is at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is situated at a one of the locations set forth on the Schedule. *GOOD FAITH BUSINESS JUDGMENT *AND WHICH CONSTITUTES "ELIGIBLE EXPORT-RELATED INVENTORY" (AS DEFINED IN THE EXIM BORROWER AGREEMENT REFERRED TO IN THE SCHEDULE). View More Arrow
Found in GENUS INC contract
Eligible Inventory. Means means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. borrowing. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Inventory which does not meet Silicon's good faith business judgment, the following are the minimum requirements will not be deemed for Inventory to be Eligible Inventory: the... Inventory which must (i) consists consist of finished goods, in good, new and salable condition which is condition, not be perishable, not be obsolete or unmerchantable, and is not be comprised of raw materials, work in process, packaging materials or supplies; (ii) meets meet all applicable governmental standards; (iii) has have been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms conform in all respects to the warranties and representations set forth in this Agreement; (v) is be at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is be situated at a Borrower's Address or at one of the locations set forth on in the Schedule. *GOOD FAITH BUSINESS JUDGMENT Representations. View More Arrow
Found in MidgardXXI, Inc. contract
Eligible Inventory. Means means Inventory which Silicon, in its* its good faith business judgment, deems eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. appropriate*. Without limiting the fact that the determination of which Inventory is eligible for borrowing is a matter of Silicon's* Silicon's discretion, Inventory which does not meet -9- SILICON VALLEY BANK LOAN AND SECURITY AGREEMENT -... -------------------------------------------------------------------------------- the following requirements will not be deemed to be Eligible Inventory: Inventory which (i) consists of raw materials** or finished goods, in good, new and salable condition which is not perishable, not obsolete or unmerchantable, and is not comprised of raw materials, work in process, packaging materials or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) conforms in all respects to the warranties and representations set forth in this Agreement; (v) is at all times subject to Silicon's duly perfected, first priority security interest; and (vi) is situated at a one of the locations set forth on the Schedule. *GOOD FAITH BUSINESS JUDGMENT *and which constitutes "Eligible Export-Related Inventory" (as defined in the Exim Borrower Agreement referred to in the Schedule) **, work in process View More Arrow
Found in AZZURRA HOLDING CORP contract
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