Common use of Financing Terms Clause in Contracts

Financing Terms. Certain financial terms of any advance which CDF makes under this Agreement are not set forth herein because such terms depend, in part, upon many variable factors, including the availability of Vendor discounts, payment terms or other incentives, and CDF’s floorplanning volume with Dealer and with Vendors. Therefore, CDF and Dealer agree to set forth in this Agreement only the general terms of Dealer’s financing arrangement with CDF. Upon agreeing to finance an item of inventory for Dealer, CDF will send Dealer a Statement of Transaction (“SOT”) identifying such inventory and the applicable financial terms. Dealer’s failure to notify CDF in writing of any objection to an SOT within fifteen (15) days after an SOT is mailed to Dealer shall constitute Dealer’s: (a) acceptance of all terms thereof; (b) agreement that CDF is financing such inventory at Dealer’s request; and (c) agreement that such SOT will be incorporated herein by reference. If Dealer objects to the terms of any SOT, Dealer will pay CDF for such inventory in accordance with the most recent terms for similar inventory to which Dealer has not objected (or, if there are no prior terms, at the lesser of 16% per annum or at the maximum lawful contract rate of interest permitted under applicable law), but CDF may then elect to terminate Dealer’s inventory financing program. Such termination will not accelerate the maturities of advances previously made, unless Dealer is otherwise in default of this Agreement.

Financing Terms. Certain financial terms of any advance which CDF makes under this Agreement are not set forth herein because such terms depend, in part, upon many variable factors, including the availability of Vendor discounts, payment terms or other incentives, and CDF’s 's floorplanning volume with Dealer and with Vendors. Therefore, CDF and Dealer agree to set forth in this Agreement only the general terms of Dealer’s 's financing arrangement with CDF. Upon agreeing to finance an item of inventory for Dealer, CDF will send Dealer a Transaction Statement of Transaction (“SOT”) identifying such inventory and the applicable financial terms. Dealer’s 's failure to notify CDF in writing of any objection to an SOT a Transaction Statement within fifteen thirty (1530) days after an SOT a Transaction Statement is mailed to Dealer shall constitute Dealer’s's: (a) acceptance of all terms thereof; (b) agreement that CDF is financing such inventory at Dealer’s 's request; and (c) agreement that such SOT Transaction Statement will be incorporated herein by reference. If Dealer objects to the terms of any SOTTransaction Statement, Dealer will pay CDF for such inventory in accordance with the most recent terms for similar inventory to which Dealer has not objected (or, if there are no prior terms, at the lesser of 16% per annum or at the maximum lawful contract rate of interest permitted under applicable law), but CDF may then elect to terminate Dealer’s inventory 's financing program. Such termination will not accelerate the maturities of advances previously made, unless Dealer is otherwise in default of this Agreement.

Financing Terms. Certain financial terms of any advance which CDF makes under this Agreement are not set forth herein because such terms depend, in part, upon many variable factors, including the availability of Vendor discounts, payment terms or other incentives, and CDF’s floorplanning volume with Dealer and with Vendors. Therefore, CDF and Dealer agree to set forth in this Agreement only the general terms of Dealer’s financing arrangement with CDF. Upon agreeing to finance an item of inventory for Dealer, CDF will send Dealer a Transaction Statement of Transaction (“SOT”) identifying such inventory and the applicable financial terms. Dealer’s failure to notify CDF in writing of any objection to an SOT a Transaction Statement within fifteen thirty (1530) days after an SOT a Transaction Statement is mailed to Dealer shall constitute Dealer’s: (a) acceptance of all terms thereof; (b) agreement that CDF is financing such inventory at Dealer’s request; and (c) agreement that such SOT Transaction Statement will be incorporated herein by reference. If Dealer objects to the terms of any SOTTransaction Statement, Dealer will pay CDF for such inventory in accordance with the most recent terms for similar inventory to which Dealer has not objected (or, if there are no prior terms, at the lesser of 16% per annum or at the maximum lawful contract rate of interest permitted under applicable law), but CDF may then elect to terminate Dealer’s inventory financing program. Such termination will not accelerate the maturities of advances previously made, unless Dealer is otherwise in default of this Agreement.

Financing Terms. Certain financial terms of any advance which CDF makes under this Agreement are not set forth herein because such terms depend, in part, upon many variable factors, including the availability of Vendor discounts, payment terms or other incentives, and CDF’s floorplanning volume with Dealer and with Vendors. Therefore, CDF and Dealer agree to set forth in this Agreement only the general terms of Dealer’s financing arrangement with CDF. Upon agreeing to finance an item of inventory for Dealer, CDF will send Dealer a Statement of Transaction (“SOT”) identifying such inventory and the applicable financial terms. Dealer’s Dealers failure to notify CDF in writing wilting of any objection to an SOT within fifteen (15) days after an SOT is mailed malted to Dealer shall constitute Dealer’s: (a) acceptance of all terms thereof; (b) agreement that CDF is financing such inventory at Dealer’s request; request and (c) agreement that such SOT will be incorporated herein by reference. If Dealer objects to the terms of any SOT, Dealer will pay CDF for such inventory in accordance with the most recent terms for similar inventory to which Dealer has not objected (or, if there are no prior terms, at the lesser of 16% per annum or at the maximum lawful contract rate of interest permitted under applicable lawPrime 4.25%, with Prime being defined as referenced on the SOT), but CDF may then elect to terminate Dealer’s inventory financing program. Such termination will not accelerate the maturities of advances previously made, unless Dealer is otherwise in default of this Agreement.