Offsite Eligible Inventory

Offsite Eligible Inventory. Means, as to each Borrower, Inventory of such Borrower which would not be excluded from the definition of Eligible Inventory but for the fact that it is not located as a location specified in Schedule E-1; provided, that an item shall not be included in Offsite Eligible Inventory if it consists of goods in transit to or stored at storage facilities pursuant to a Terminal Agreement.