to the relevant Credit Party or (B) a Letter of Credit has been issued under and in accordance with the terms of this Agreement for the purchase of such Inventory;
(xvi) is stored at a location not in (a) (x) the United States or Canada, in the case of the U.S.
Borrowing Base or Canadian Borrowing Base or (y) Mexico in an amount not to exceed 5% of the Aggregate Borrowing Base, in the case of the U.S. Borrowing Base, (b) an Additional Inventory Asian Jurisdiction, in the case of the Asian
Borrowing Base, (c) an Additional Inventory European Jurisdiction, in the case of the European Borrowing Base, (d) [reserved], or (e) Germany, in the case of any German Borrowing Base;
(xvii) consists of service vans or other items of Inventory held in service vans for use by technicians at
project sites;
(xviii) has been returned by a customer or is in the process of being reworked or retooled;
(xix) comprises Tooling Materials;
(xx) is held for use by an outside processor or subcontractor;
(xxi) is of a type generally sold and delivered by the Credit Parties on a drop-ship basis;
(xxii) has increased value due to favorable capitalized variance adjustments (but only to the extent of such
increase);
(xxiii) that is represented in the accounting of any Credit Party as inventory adjustment,
variance, reclassification, warranty reserve, write-off, inventory valuation or unreconciled difference; or
(xxiv) has been acquired from any Sanctioned Person.
Eligible Transferee shall mean and include any existing Lender, any Approved Fund or any commercial bank,
an insurance company, a finance company, a financial institution, any fund that invests in loans or any other accredited investor (as defined in Regulation D of the Securities Act) but in any event excluding (i) any natural person,
(ii) any Disqualified Lender and (iii) Holdings, each Borrower and their respective Subsidiaries and Affiliates.
Environment shall mean ambient air, indoor air, surface water, groundwater, drinking water, land surface
and sub-surface strata and natural resources such as wetlands, flora and fauna.
Environmental Claims
shall mean any and all administrative, regulatory or judicial actions, suits, demands, demand letters, directives, claims, liens, notices of noncompliance or violation, investigations and/or proceedings arising under or pursuant to any Environmental
Law or any permit issued, or any approval given, under any such Environmental Law, including, without limitation, (a) any and all Environmental Claims by governmental or regulatory authorities for enforcement, investigation, cleanup, removal,
response, remedial or other actions or damages pursuant to any applicable Environmental Law, and (b) any and all Environmental Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive
relief arising out of or relating to an alleged injury or threat of injury to human health, safety or the Environment due to the presence of Hazardous Materials, including any Release or threat of Release of any Hazardous Materials.
Environmental Law shall mean any federal, state, provincial, national, supranational, foreign or local
statute, law, rule, regulation, ordinance, code, binding guideline and rule of common law, now or hereafter in effect and in each case as amended, and any judicial or administrative interpretation thereof, including any judicial or administrative
order, consent decree or judgment, relating to pollution or protection of the Environment, occupational health or Hazardous Materials, including, without limitation, any state, provincial and local or foreign counterparts or equivalents, in each
case as amended from time to time.
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