Net Value. The net value of the qualified inventory shall be determined at cost or market, whichever is lower, exclusive of any transportation, processing or handling charges. The determination of "net value" shall be made by the secured party. The debtor shall notify the secured party immediately of any event causing a loss to or depreciation in value of the inventory and the amount of such loss or depreciation.
Appears in 2 contracts
Sources: Loan and Security Agreement (United Grocers Inc /Or/), Loan and Security Agreement (United Grocers Inc /Or/)