Eligible Work-In-Process Inventory: Inventory that would be Eligible Inventory except that such Inventory consists of work-in-process. Borrowers acknowledge that no Inventory shall constitute Eligible Work‑In‑Process Inventory until Agent receives the March 31, 2017 Inventory appraisal.
Eligible Work-in-Process means otherwise Eligible Inventory of a Borrower (solely but for the fact that such Inventory is not finished goods) constituting work-in-process.
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