Availability and Maximum Advances. (a) The Revolving Facility is available to Revolving Borrowers by way of the following: (i) Prime Loans; (ii) CDOR Loans; and/or (iii) Letters of Credit up to an aggregate face amount not exceeding at any time the L/C Sublimit. (b) Borrowings under Revolving Facility are not to exceed the Revolving Limit. (4)
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, the Wholesale Leasing Borrowers may obtain Borrowings for under the Wholesale Leasing Facility by way of the following: (i) Prime Loans; and (ii) XXXXX Loans. (b) Borrowings under Wholesale Leasing Facility is not to exceed the lesser of the Wholesale Leasing Borrowing Base and Wholesale Leasing Limit. (4) Revolving Nature. The principal amount of any Borrowings under the Wholesale Leasing Facility that is repaid may be reborrowed from time to time if the Wholesale Leasing Borrowers are otherwise entitled to a Borrowing under the Wholesale Leasing Facility. (5)
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, Daily Rental Borrower may obtain Borrowings for under the Wholesale Leasing Facility by way of the following: (i) Prime Loans; and (ii) XXXXX Loans.
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, Wholesale Flooring Borrowers may obtain Borrowings for New Motor Vehicles (including qualifying CAP Vehicles and Program Vehicles in accordance with the definition of “New Motor Vehicles”) under the Wholesale Flooring Facility by way of the following: (i) Prime Loans; and (ii) CDOR Loans, in all cases, secured by inter alia conditional sale contracts assigned by manufacturers in a form satisfactory to the Administrative Agent. (b) Any Borrowing under Wholesale Flooring Facility is not to exceed the manufacturer’s / auction invoice amount plus the amount of GST/HST in respect of the New Motor Vehicle financed by such Borrowing, provided that GST/HST will not be financed for Dealer Trades. The Administrative Agent must be provided with Wholesale Flooring Borrowers’ purchase documentation for all CAP Vehicles and Program Vehicles which is to include the make, model, year, serial number and odometer reading, within five (5) Business Days of the date of
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, Wholesale Flooring Borrowers may obtain Borrowings for New Motor Vehicles (including qualifying CAP Vehicles and Program Vehicles in accordance with the definition of “New Motor Vehicles”) under the Wholesale Flooring Facility by way of the following: (i) Prime Loans; and (ii) CDORCORRA Loans, in all cases, secured by inter alia conditional sale contracts assigned by manufacturers in a form satisfactory to the Administrative Agent. (b) Any Borrowing under Wholesale Flooring Facility is not to exceed the manufacturer’s / auction invoice amount plus the amount of GST/HST in respect of the New Motor Vehicle financed by such Borrowing, provided that GST/HST will not be financed for Dealer Trades. The Administrative Agent must be
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, Daily Rental Borrower may obtain Borrowings for under the Wholesale Leasing Facility by way of the following: (i) Prime Loans; and (ii) CDORCORRA Loans. (b) Borrowings under Daily Rental Facility is not to exceed the lesser of the Daily Rental Borrowing Base and Daily Rental Limit. (4) Revolving Nature. The principal amount of any Borrowings under the Daily Rental Facility that is repaid may be reborrowed from time to time if Daily Rental Borrower is otherwise entitled to a Borrowing under the Daily Rental Facility. (5)
Availability and Maximum Advances. (a) Subject to the terms and conditions hereof, Wholesale Flooring A Borrowers and Wholesale Flooring B Borrowers may obtain Borrowings for New Motor Vehicles (including qualifying CAP Vehicles and Program Vehicles in accordance with the definition of “New Motor Vehicles”) under the Wholesale Flooring A Facility or the Wholesale Flooring B Facility, as the case may be, by way of the following: (i) Prime Loans; and (ii) XXXXX Loans, in all cases, secured by inter alia conditional sale contracts assigned by manufacturers in a form satisfactory to the Administrative Agent. (b) Any Borrowing under the Wholesale Flooring A Facility or the Wholesale Flooring B Facility is not to exceed the manufacturer’s / auction invoice amount plus the amount of GST/HST in respect of the New Motor Vehicle financed by such Borrowing, provided that GST/HST will not be financed for Dealer Trades. The Administrative Agent must be provided with Wholesale Flooring A Borrowers’ or Wholesale Flooring B Borrowers’, as the case may be, purchase documentation for all CAP Vehicles and Program Vehicles which is to include the make, model, year, serial number and odometer reading, within five (5) Business Days of the date of the Borrowing, or such other timeframe as determined by the Administrative Agent, acting reasonably. (4)
