Common use of Floorplan Credit Line Clause in Contracts

Floorplan Credit Line. At the request of Borrower and as part of the Total Facility, DLL may, in its Permitted Discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Inventory proposed by Borrower to be financed pursuant to this Section 2.4 (the “Floorplan Credit Line”). At no time shall the sum of Borrower's Obligations to DLL in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL of an invoice for Floorplanned Inventory from Borrower or the Vendor of such Floorplanned Inventory, which invoice is acceptable to DLL in its Permitted Discretion, DLL shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s invoice, of such Floorplanned Inventory, including freight. DLL may, in its Permitted Discretion, refuse to make a Floorplan Loan against any invoice. If DLL elects to make a Floorplan Loan, DLL may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL and the Vendor of the Floorplanned Inventory, directly to such Vendor on Borrower's behalf in accordance with the payment arrangement then in effect between DLL and such Vendor. DLL will charge Borrower's loan account for the full amount of the Floorplan Loan without regard to any discount that DLL may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLL, in its Permitted Discretion, at any time and, upon such termination, no further Floorplan Loans shall be available from DLL.

Floorplan Credit Line. At the request of Borrower and as part of the Total Facility, DLL TEXTRON may, in its Permitted Discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Inventory proposed by Borrower to be financed pursuant to this Section 2.4 (the “Floorplan Credit Line”"FLOORPLAN CREDIT LINE"). At no time shall the sum of Borrower's Obligations to DLL TEXTRON in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL TEXTRON of an invoice for Floorplanned Inventory from Borrower or the Vendor manufacturer or vendor of such Floorplanned Inventory, which invoice is acceptable to DLL TEXTRON in its Permitted Discretion, DLL TEXTRON shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s manufacturer's or vendor's invoice, of such Floorplanned Inventory, including freight. DLL TEXTRON may, in its Permitted Discretion, refuse to make a Floorplan Loan against any invoice. If DLL TEXTRON elects to make a Floorplan Loan, DLL TEXTRON may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL TEXTRON and the Vendor manufacturer or vendor of the Floorplanned Inventory, directly to such Vendor manufacturer or vendor on Borrower's behalf in accordance with the payment arrangement then in effect between DLL TEXTRON and such Vendormanufacturer or vendor. DLL TEXTRON will charge Borrower's loan account for the full amount of the Floorplan Loan without regard to any discount that DLL TEXTRON may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLLTEXTRON, in its Permitted Discretion, at any time and, upon such termination, no further Floorplan Loans shall be available from DLLTEXTRON.

Floorplan Credit Line. At the request of Borrower and as part of the Total --------------------- Facility, DLL FINOVA may, in its Permitted Discretionsole discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Inventory proposed by Borrower to be financed pursuant to this Section 2.4 (the “"Floorplan Credit Line”"). At no time shall the sum of Borrower's Obligations to DLL FINOVA in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL FINOVA of an invoice for Floorplanned Inventory from Borrower or the Vendor manufacturer or vendor of such Floorplanned Inventory, which invoice is acceptable to DLL FINOVA in its Permitted Discretionsole discretion, DLL FINOVA shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s manufacturer or vendor's invoice, of such Floorplanned Inventory, including freight. DLL FINOVA may, in its Permitted Discretionsole discretion, refuse to make a Floorplan Loan against any invoice. If DLL FINOVA elects to make a Floorplan Loan, DLL FINOVA may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL FINOVA and the Vendor manufacturer or vendor of the Floorplanned Inventory, directly to such Vendor manufacturer or vendor on Borrower's behalf in accordance with the payment arrangement then in effect between DLL FINOVA and such Vendormanufacturer or vendor. DLL FINOVA will charge Borrower's loan account for the full amount of the Floorplan Loan without regard to any discount that DLL FINOVA may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLLFINOVA, in its Permitted Discretionsole discretion, at any time and, upon such termination, no further Floorplan Loans shall be available from DLLFINOVA.

Floorplan Credit Line. At the request of Borrower and as part of the Total Facility, DLL TEXTRON may, in its Permitted Discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Inventory proposed by Borrower to be financed pursuant to this Section 2.4 (the “"Floorplan Credit Line”"). At no time shall the sum of Borrower's Obligations to DLL TEXTRON in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL TEXTRON of an invoice for Floorplanned Inventory from Borrower or the Vendor manufacturer or vendor of such Floorplanned Inventory, which invoice is acceptable to DLL TEXTRON in its Permitted Discretion, DLL TEXTRON shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s manufacturer's or vendor's invoice, of such Floorplanned Inventory, including freight. DLL TEXTRON may, in its Permitted Discretion, refuse to make a Floorplan Loan against any invoice. If DLL TEXTRON elects to make a Floorplan Loan, DLL TEXTRON may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL TEXTRON and the Vendor manufacturer or vendor of the Floorplanned Inventory, directly to such Vendor manufacturer or vendor on Borrower's behalf in accordance with the payment arrangement then in effect between DLL TEXTRON and such Vendormanufacturer or vendor. DLL TEXTRON will charge Borrower's loan account for the full amount of the Floorplan Loan without regard to any discount that DLL TEXTRON may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLLTEXTRON, in its Permitted Discretion, at any time and, upon such termination, no further Floorplan Loans shall be available from DLLTEXTRON.

Floorplan Credit Line. At the request of Borrower and as part of the Total Facility, DLL may, in its Permitted Discretionsole and absolute discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Inventory proposed by Borrower to be financed pursuant to this Section 2.4 (the “Floorplan Credit Line”). At no time shall the sum of Borrower's ’s Obligations to DLL in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL of an invoice for Floorplanned Inventory from Borrower or the Vendor of such Floorplanned Inventory, which invoice is acceptable to DLL in its Permitted Discretion, DLL shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s invoice, of such Floorplanned Inventory, including freight. DLL may, in its Permitted Discretion, refuse to make a Floorplan Loan against any invoice. If DLL elects to make a Floorplan Loan, DLL may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL and the Vendor of the Floorplanned Inventory, directly to such Vendor on Borrower's ’s behalf in accordance with the payment arrangement then in effect between DLL and such Vendor. DLL will charge Borrower's ’s loan account for the full amount of the Floorplan Loan without regard to any discount that DLL may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLL, in its Permitted Discretion, at any time and, upon such termination, no further Floorplan Loans shall be available from DLL.

Floorplan Credit Line. At the request of Borrower and as part of the Total Facility, DLL GFC may, in its Permitted Discretionsole discretion, make Floorplan Loans to or for the account of Borrower for the purpose of financing Floorplanned Qualified Inventory proposed by Borrower to be financed pursuant to this Section 2.4 1.4 (the “"Floorplan Credit Line”"). At no time shall the sum of Borrower's Obligations to DLL GFC in respect of the Floorplan Credit Line exceed the amount specified in the Schedule. Upon receipt by DLL GFC of an invoice for Floorplanned Inventory from Borrower or the Vendor manufacturer of such Floorplanned Inventory, which invoice is acceptable to DLL GFC in its Permitted Discretiondiscretion reasonably exercised, DLL GFC shall, if it elects to finance such Floorplanned Inventory, make a Floorplan Loan to Borrower in an amount not to exceed (subject to the other limitations set forth in this Agreement) the cost, as reflected on the Vendor’s invoice, cost of such Floorplanned Inventory, including freight. DLL GFC may, in its Permitted Discretiondiscretion reasonably exercised, refuse to make a Floorplan Loan 2 against any invoice. If DLL GFC elects to make a Floorplan Loan, DLL GFC may disburse the proceeds of such Floorplan Loan, less the amount of any discount agreed to between DLL GFC and the Vendor manufacturer of the Floorplanned Inventory, directly to such Vendor manufacturer on Borrower's behalf in accordance with the payment arrangement then in effect between DLL GFC and such Vendormanufacturer. DLL GFC will charge Borrower's loan account for the full amount of the Floorplan Loan without regard to any discount that DLL GFC may be entitled to receive pursuant to any payment arrangement referred to in the immediately preceding sentence. The Floorplan Credit Line is an uncommitted line of credit, may be terminated in whole or in part by DLLGFC, in its Permitted Discretiondiscretion reasonably exercised, at any time and, upon such termination, no further Floorplan Loans shall be available from DLLGFC.