Common use of Status of Inventory Clause in Contracts

Status of Inventory. All Inventory included in any Borrowing Base Certificate delivered to the Agent meets the criteria enumerated in the definition of Eligible Inventory, except as disclosed in such Borrowing Base Certificate or in a subsequent Borrowing Base Certificate or as otherwise specifically disclosed in writing to the Agent. All Inventory is in good condition, meets in all material respects all standards imposed by any governmental agency or department or division thereof having regulatory authority over such goods, their use or sale, and is currently either usable or saleable in the normal course of the Borrowers' business, except to the extent reserved against in the financial statements delivered pursuant to ARTICLE 9 or as disclosed on a Schedule of Inventory delivered to the Agent pursuant to SECTION 7.14(b). Set forth on SCHEDULE 5.1(u), with respect to each U.S. Borrower, is the (i) address (including street, city, county and state) of each facility at which Inventory is located, (ii) the approximate quantity in Dollars of the Inventory customarily located at each such facility, and (iii) if the facility is leased or is a third party warehouse or processor location, the name of the landlord or such third party warehouseman or processor. All Inventory of a U.S. Borrower is located on the premises set forth on SCHEDULE 5.1(u) or is in transit to one of such locations, except as otherwise disclosed in writing to the Agent. No U.S. Borrower has located Inventory at premises other than those set forth on SCHEDULE 5.1(u) at any time during the four months immediately preceding the Agreement Date.

Status of Inventory. All Inventory included in any Borrowing Base Certificate delivered to the Agent Lender pursuant to Section 7.14(d) meets the criteria enumerated in the definition of Eligible InventoryInventory (or Eligible Export Inventory as the case may be), except as disclosed in such Borrowing Base Certificate or in a subsequent Borrowing Base Certificate or as otherwise specifically disclosed in writing to the AgentLender. All Inventory is in good condition, meets in all material respects all standards imposed by any governmental agency or department or division thereof having regulatory authority over such goods, their use or sale, and is currently either usable or saleable in the normal course of the Borrowers' Borrower's business, except to the extent reserved against in the financial statements delivered pursuant to ARTICLE 9 or as disclosed on a Schedule of Inventory delivered to the Agent Lender pursuant to SECTION 7.14(b). Set forth on SCHEDULE 5.1(u), with respect to each U.S. Borrower, ) is the (i) address (including street, city, county and state) of each facility at which Inventory is located, (ii) the approximate quantity in Dollars of the Inventory customarily located at each such facility, and (iii) if the facility is leased or is a third party warehouse or processor location, the name of the landlord or such third party warehouseman or processor. All Inventory of a U.S. Borrower is located on the premises set forth on SCHEDULE 5.1(u) or is in transit to one of such locations, except as otherwise disclosed in writing to the Agent. No U.S. Lender; the Borrower has not located Inventory at premises other than those set forth on SCHEDULE 5.1(u5.1(U) at any time during the four months immediately preceding the Agreement Date.