Common use of Inventory not Available for Floorplan Loans and Interim Floorplan Loans Clause in Contracts

Inventory not Available for Floorplan Loans and Interim Floorplan Loans. Only Approved Vendors will be eligible to receive proceeds of Aggregate Floorplan Loans and Interim Floorplan Loans for Floorplanned Inventory. Administrative Agents or Required Lenders may, at any time and with reasonable notice to Reseller, elect not to finance any inventory sold by particular Approved Vendors, including any Approved Vendors who are in default of their obligations to CPC or with respect to which CPC or Administrative Agents deem themselves reasonably insecure. Except with respect to Approvals issued by CPC on or before the effective date of the termination of the Aggregate Floorplan Loan Facility, Lenders shall not be obligated to fund any Floorplan Loan Advances after such date.

Inventory not Available for Floorplan Loans and Interim Floorplan Loans. Only Approved Vendors will be eligible to receive proceeds of Aggregate Floorplan Loans Loan Advances and Interim Floorplan Loans for Floorplanned Inventory. Administrative Agents or Required Lenders may, at any time and with reasonable written notice to ResellerBorrowing Agent, elect not to finance any inventory sold by particular Approved Vendors, including any Approved Vendors who are in default of their obligations to CPC or with respect to which CPC or Administrative Agents deem themselves reasonably insecure. Except with respect to Approvals issued by CPC on or before the effective date of the termination of the Aggregate Floorplan Loan Facility, Lenders shall not be obligated to fund any Floorplan Loan Advances after such date.