Vehicle Purchase Loans Clause Samples

Vehicle Purchase Loans. On the terms and subject to the conditions set forth herein (including, without limitation, the conditions set forth in Section 3.2 hereof), Lenders severally agree to make vehicle purchase loans (each, a “Vehicle Purchase Loan”) to Borrower from time to time as set forth herein, up to the Facility Commitment Amount then in effect (and, as to any Lender, such Lender’s Pro Rata Share thereof). If there shall be more than one Lender hereunder, each proposed Vehicle Purchase Loan shall consist of Vehicle Purchase Loans made simultaneously by the Lenders ratably according to their Pro Rata Share thereof. The Borrower shall not request Vehicle Purchase Loans for any purpose other than the purchase of Eligible Inventory.