Eligible Inventory
Eligible Inventory. Shall mean Inventory as defined in the California Uniform Commercial Code in which the Collateral Agent has a perfected first priority security interest except for Liens permitted under Sections 7.01(c) and 7.01(d) of the Credit Agreement but excluding (a) Inventory which is not owned by L-P free and clear of all security interests, liens, encumbrances except for Liens permitted under the Security Agreement or the Credit Agreement or claims asserted by any third party, and (b) Inventory which...
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Louisiana-Pacific Corp contract
Eligible Inventory. At any time, all of the Borrower's and CRG's Inventory except: (1) Inventory which is not owned by the Borrower or CRG free and clear of all security interests, liens, encumbrances, and claims of third parties; (2) Inventory which the Bank, in its sole discretion, deems to be obsolete, unsalable, damaged, defective, or unfit for further processing; (3) Work in process, (4) Inventory consisting of used modular or manufactured homes, and (5) Inventory consisting of furniture. For the purpose of...
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Cavco Industries, Inc. contract
Eligible Inventory. The book United States dollar value of only Borrowers' raw materials and finished goods inventory (without limitation, specifically excluding supplies, packaging and work in process) in which only the Lender holds a security interest and as to which the Lender, in its sole discretion, shall elect from time to time to constitute Eligible Inventory. Eligible Inventory shall include inventory that is in transit with a common carrier from vendors and suppliers of Borrowers, provided that, the...
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DULUTH HOLDINGS INC. contract
Eligible Inventory. Means Inventory (net of freight and container costs) which Lender, in its sole discretion, shall deem Eligible Inventory, based on such considerations as Lender may, from time to time, deem appropriate
Found in
PEN INC. contract
Eligible Inventory. Means only Inventory which satisfies the following requirements: a. Reseller has good, valid, and marketable title thereto, free and clear of any (i) title defect, (ii) any liens, (iii) bill of lading or other document of title, (iv) third party trademark, licensing or other proprietary rights (unless CPC is satisfied that such Inventory can be freely sold by CPC on and after the occurrence of a Default despite such third party rights), or (v) any interests of others other than Liens in favor...
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PCM, INC. contract
Eligible Inventory. Means only Inventory which satisfies the following requirements:
Found in
PC CONNECTION INC contract
Eligible Inventory. At any time, all of the Borrower's Inventory in which the Bank has a first priority continuing perfected Lien except Inventory which is: (1) not owned by it free and clear of all claims of Persons other than the Bank; (2) slow moving, obsolete, unsalable, or unfit for further processing; (3) work in process; (4) subject to consignment or otherwise in the possession of another Person; (5) in transit or located outside of the United States; (6) subject to licensing, intellectual property, or any...
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FRIEDMAN INDUSTRIES INC contract
Eligible Inventory. The definition of 'Eligible Inventory' in Section 1.37 of the Loan Agreement is hereby amended by deleting 'raw materials for such finished goods' and replacing it with 'raw materials for such finished goods consisting of transducers'.
Found in
LOUD TECHNOLOGIES INC contract
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