Conversion Vehicle Wholesale Financing Program definition

Conversion Vehicle Wholesale Financing Program a financing program provided by XxxXx or its Subsidiaries pursuant to which (i) XxxXx or its Subsidiaries provides wholesale financing to recreational truck and van conversion companies and manufacturers of specialized bodies and equipment on vehicles which are consignees of the Borrower (the “Converters”) to enable such Persons to hold on consignment from the Borrower or any of its Subsidiaries vehicles, chassis, other merchandise and inventory (the “Merchandise”) manufactured by the Borrower and its Subsidiaries for the sole purpose of storing, upfitting or adding to the Merchandise, which financings are secured by such Merchandise and repaid with the proceeds of the sale of such Merchandise by the Borrower, (ii) the Borrower is obligated to pay (on behalf of the Converters) to XxxXx or its Subsidiaries a portion of the first 90 days of interest accruing on such loans and (iii) the Borrower is obligated to purchase the Merchandise from the Converters upon completion of the conversion.
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Conversion Vehicle Wholesale Financing Program. (i) a financing program provided by XxxXx or its Subsidiaries pursuant to which (a) XxxXx or its Subsidiaries provides wholesale financing to recreational truck and van conversion companies and manufacturers of specialized bodies and equipment on vehicles which are consignees of the Borrower (the “Converters”) to enable such Persons to hold on consignment from the Borrower or any of its Subsidiaries vehicles, chassis, other merchandise and inventory (the “Merchandise”) manufactured by the Borrower and its Subsidiaries for the sole purpose of storing, upfitting or adding to the Merchandise, which financings are secured by such Merchandise and repaid with the proceeds of the sale of such Merchandise by the Borrower, (b) the Borrower is obligated to pay (on behalf of the Converters) to XxxXx or its Subsidiaries a portion of the first 90 days of interest accruing on such loans and (c) the Borrower is obligated to purchase the Merchandise from the Converters upon completion of the conversion, (ii) any substantially similar program with GMAC or (iii) any similar program with another lender, which program has been approved in advance in writing by the Lender (in its sole discretion).
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Conversion Vehicle Wholesale Financing Program means any program whereby a financing company (including Ally or any of its affiliates) provides Wholesale Financing to any Upfitter (i) for the sole purpose of financing the purchase by such Upfitter of vehicles from the Company or one of its Subsidiaries, (ii) pursuant to which such Upfitter stores, upfits and otherwise modifies such vehicles, (iii) that is secured by such vehicles, (iv) pursuant to which the Company or any of its Affiliates is obligated to repurchase such vehicles from such Upfitter, and (v) that is repaid with the proceeds of such sale.
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More Definitions of Conversion Vehicle Wholesale Financing Program

Conversion Vehicle Wholesale Financing Program a financing program provided by XxxXx or its Subsidiaries pursuant to which (i) XxxXx or its Subsidiaries provides wholesale financing to recreational truck and van conversion companies and manufacturers of specialized bodies and equipment on vehicles which are consignees of the Company (the “Converters”) to enable such Persons to hold on consignment from the Company or any of its Subsidiaries vehicles, chassis, other merchandise and inventory (the “Merchandise”) manufactured by the Company and its Subsidiaries for the sole purpose of storing, upfitting or adding to the Merchandise, which financings are secured by such Merchandise and repaid with the proceeds of the sale of such Merchandise by the Company, (ii) the Company is obligated to pay (on behalf of the Converters) to XxxXx or its Subsidiaries a portion of the first 90 days of interest accruing on such loans and (iii) the Company is obligated to purchase the Merchandise from the Converters upon completion of the conversion.
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Related to Conversion Vehicle Wholesale Financing Program

  • Off-vehicle charging hybrid electric vehicle (OVC-HEV) means a hybrid electric vehicle that can be charged from an external source.

  • Hybrid electric vehicle (HEV) means a hybrid vehicle where one of the propulsion energy converters is an electric machine.

  • Not off-vehicle charging hybrid electric vehicle (NOVC-HEV) means a hybrid electric vehicle that cannot be charged from an external source.

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.

  • Laden vehicle means, except where otherwise stated, a vehicle so laden as to attain its "maximum mass".

  • Neighborhood electric vehicle means a self-propelled

  • Unladen vehicle means a vehicle without a driver, or passenger, and unladen, but with its fuel tank full and its normal complement of tools;

  • Securitization Vehicle shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

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  • Transit vehicle means a bus, rapid transit vehicle, railroad car, street railway car, water vehicle, taxicab, or other type of public transportation vehicle or individual unit, whether operated singly or in a group that provides public transportation.

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  • Park model recreational vehicle means a unit that:

  • All-terrain vehicle means either of the following:

  • All-terrain type I vehicle means the same as that term is defined in Section 41-22-2.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • Online Transaction means any Phone/Electronic Transaction requested through an Electronic Transmission over the Internet.

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  • Permitted Securitization Financing means one or more transactions pursuant to which (i) Securitization Assets or interests therein are sold or transferred to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance (or refinance) their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets (including conduit and warehouse financings) and any Hedging Agreements entered into in connection with such Securitization Assets; provided, that recourse to the Borrower or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Borrower in good faith) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Securitization Subsidiary).

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