Acquisition of GM Dealerships Sample Clauses

Acquisition of GM Dealerships. 4.1 In consideration for the representations, covenants and commitments contained herein and assuming compliance with the normal requirements of General Motors regarding transfer of assets and appointment as a dealer, General Motors will permit the acquisition of up to five (5) General Motors Dealerships during the period commencing from the date of this Agreement and ending 24 months thereafter. Currently Lithia Motors is not in compliance with General Motors standards for the Pontiac dealership in Medford, Oregon for Customer Satisfaction and Sales performance. Lithia represents intent to bring the performance into compliance, but believes it will be able to do so if the location is in compliance with GM's channel plan. Accordingly, General Motors will approve, upon receipt of an acceptable proposal Lithia's acquisition of the Buick/Cadillac dealership or the Oldsmobile/GMC dealership or the sale of Pontiac assets to either of those dealers in Medford in order that the plan of a Pontiac-Buick-GMC dealership and a Chevrolet Oldsmobile/Cadillac dealership may be accomplished. If Lithia does not accomplish this purchase or sale within 12 months of the date of this agreement and the Pontiac Customer Satisfaction and Sales performance does not meet the performance standards identified in sections 4.2 and 4.3 of this agreement, Lithia will voluntarily terminate its Pontiac dealer agreement in exchange for payment provided in section 5.2 of this agreement. In the first 12 months following the date of this agreement, GM will allow Lithia to acquire two additional GM dealers, subject to receipt of acceptable proposals, while working on the purchase/sale/correction of the Medford Pontiac dealership deficiencies. In the second 12 months, GM will allow, subject to receipt of acceptable proposals the acquisition of two additional GM dealerships if Lithia is meeting the performance standards for its then owned GM dealerships. Total Lithia owned GM dealerships will not exceed 5 at the conclusion of the 24 months following the date of this agreement.

Acquisition of GM Dealerships. 4.1 In consideration for the representations, covenants and commitments contained herein, and assuming compliance with the normal requirements of General Motors regarding transfer of assets and appointment as a dealer, General Motors will permit the acquisition of up to ten (10) General Motors Dealerships during the period commencing from the date of this Agreement and ending 24 months thereafter. If GM requests Group 1 Automotive, Inc. to consider purchasing certain GM dealerships, such dealerships are to be included in the number of acquisitions. If there is a material dispute between any GM affiliate and Group 1 Automotive, Inc., then GM may elect not to approve any public companies dealerships until the dispute is resolved (even if the preapproved number has not been met).

Acquisition of GM Dealerships. 4.1 In consideration for the representations, covenants and commitments contained herein, and assuming compliance with the normal requirements of General Motors regarding transfer of assets and appointment as a dealer, General Motors will permit the acquisition of up to five (5) General Motors Dealerships during the period commencing from the date of this Agreement and ending 24 months thereafter. If GM requests Sunbelt Automotive Group, Inc. to consider purchasing certain GM dealerships, such dealerships are to be included in the number of acquisitions. If there is a material dispute between any GM affiliate and Sunbelt Automotive Group, Inc., then GM may elect not to approve any public companies dealerships until the dispute is resolved (even if the pre-approved number has not been met).