a worksheet of calculations prepared by the Borrowers to determine Eligible Accounts and Eligible Inventory, such worksheets detailing the Accounts and Inventory excluded from Eligible Accounts and Eligible Inventory and the reason for such exclusion; and

“Eligible In-Transit Inventory” means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

“Eligible Finished Goods” means, on any date, without duplication, the Inventory Value of all Eligible Inventory and Eligible In-Transit Inventory of the Borrower and each other Grantor defined as Finished Goods by the Borrower on such date as shown on the Borrower’s perpetual inventory records in accordance with its current and historical accounting practices; provided that the aggregate amount of such Inventory Value attributable to Eligible In-Transit Inventory shall not exceed $75,000,000.

(c)with respect to any Eligible Letter of Credit, without duplication of any Eligible In-Transit Inventory, the Cost of the Inventory supported by such Eligible Letter of Credit when completed, net of Inventory Reserves, multiplied by the Inventory Advance Rate multiplied by the Appraised Value of such Inventory of the Borrowers;

“Eligible Wholesale Inventory” shall mean, without duplication of other Eligible Inventory, Inventory which is sold at wholesale through the licensed brands operations, and/or the Johnston & Murphy wholesale operations of the Borrowers (other than the UK Borrower) and which would otherwise constitute Eligible Inventory.

#100%, multiplied by the Appraised Value of Eligible Inventory of the Loan Parties, multiplied by the Cost of such Eligible Inventory; provided that Eligible In-Transit Inventory shall not exceed 30% of the Borrowing Base;

such Inventory satisfies all of the criteria for Eligible Inventory (except the criteria in clauses (g) and (i)(ii) of the definition of “Eligible Inventory”).

“Eligible Export-Related Overseas Inventory" shall mean Export-Related Overseas Inventory which is acceptable to Lender and which is deemed to be eligible pursuant to the Loan Documents, but in no event shall include the Inventory [(a) through (r)] excluded from the definition of Eligible Export-Related Inventory.

a summary of all Eligible Consigned Inventory, by Eligible Consignee and Inventory type, quantity and Market Value;

Inventory Reporting. From time to time, but at least quarterly, upon [[OUTSET:Organization]]’s request, Supplier will provide a written report to [[OUTSET:Organization]] detailing the level of Aged Inventory and Obsolete Inventory (each as defined below) at Supplier (the “OA Report”). [[OUTSET:Organization]] will respond to Supplier in writing within ​ days of receipt of the OA Report with any good faith disagreement to it, detailing with reasonable particularity the nature of any such disagreement. For the purposes of this Section 3(j), “Aged Inventory” shall mean inventory of parts that has been endorsed by an [[OUTSET:Organization]]’s Purchase order, and has remained in stock for ​ months, and “Obsolete Inventory” shall mean inventory of parts obsoleted by an engineering change and remained in stock for over four months.