Out of Balance. An audit performed by the Administrative Agent or New Vehicle Floorplan Swing Line Lender pursuant to the provisions of Section 6.10 reveals that any Vehicle of any Borrower securing the Obligations has been Out of Balance, and such Out of Balance condition either (i) (individually or in the aggregate) has had or could reasonably be expected to have a Material Adverse Effect or (ii) continues for thirty (30) days following notice from the Administrative Agent to the Company thereof; or
Appears in 6 contracts
Samples: Credit Agreement (Asbury Automotive Group Inc), Credit Agreement (Asbury Automotive Group Inc), Credit Agreement (Asbury Automotive Group Inc)
Out of Balance. An audit performed by the Administrative Agent or New Vehicle Floorplan Swing Line Lender pursuant to the provisions of Section 6.10 reveals that any Vehicle of any Borrower securing the Obligations has has, for a period of thirty (30) consecutive days, been Out of Balance, and such Out of Balance condition either continues until the earlier of (i) three (individually or in 3) days following knowledge thereof by an officer of the aggregate) has had or could reasonably be expected to have a Material Adverse Effect or Company and (ii) continues for thirty three (303) days following notice from the Administrative Agent to the Company thereof; or
Appears in 6 contracts
Samples: Syndicated New and Used Vehicle Floorplan Credit Agreement (Sonic Automotive Inc), Syndicated New and Used Vehicle Floorplan Credit Agreement (Sonic Automotive Inc), Syndicated New and Used Vehicle Floorplan Credit Agreement (Sonic Automotive Inc)
Out of Balance. An audit performed by the Administrative Agent or New Vehicle Floorplan Swing Line Lender pursuant to the provisions of Section 6.10 reveals that any Vehicle Vehicles of any Borrower the Borrowers securing the Obligations has have, for a period of thirty (30) consecutive days, been Out of Balance, and such Out of Balance condition either continues until the earlier of (i) three (individually or in 3) days following knowledge thereof by an officer of the aggregate) has had or could reasonably be expected to have a Material Adverse Effect or Company and (ii) continues for thirty three (303) days following notice from the Administrative Agent to the Company thereof; or
Appears in 2 contracts
Samples: Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)
Out of Balance. An audit performed by the Administrative Agent or New Vehicle Floorplan Swing Line Lender pursuant to the provisions of Section 6.10 reveals that any Vehicle of any Borrower securing the Obligations has been Out of Balance, and such Out of Balance condition either (i) (individually or in the aggregate) has had or could would reasonably be expected to have a Material Adverse Effect or (ii) continues for thirty (30) days following notice from the Administrative Agent to the Company thereof; or
Appears in 1 contract
Samples: Fourth Amended and Restated Credit Agreement (Asbury Automotive Group Inc)
