Examples of Eligible Vehicle Collateral in a sentence
As of the date of each Borrowing Request, all Vehicles set forth in the Vehicle Schedule to be delivered with each Borrowing Request are Eligible Vehicle Collateral.
The proceeds of the Loans shall be used solely for to finance the purchase and assembly of Eligible Vehicle Collateral (including the manufacture of the van box of any Vehicle comprising Eligible Vehicle Collateral) occurring during the 60 days immediately preceding the date of such Loan.
If an item of Collateral included in the Borrowing Base and for which a Loan was advanced fails at any time to be acceptable to the Lender under the definition of Eligible Vehicle Collateral, as reasonably determined by the Lender in its sole discretion, the Vehicle Facility Value of such Collateral as of such date of determination will be deemed to be zero.
If an item of Collateral included in the Borrowing Base and for which a Loan was advanced fails at any time to be acceptable to the Lender under the definition of Eligible Vehicle Collateral, as determined by the Lender in its sole discretion, the Market Value of such Collateral as of such date of determination will be deemed to be zero.
If an item of Collateral included in the Borrowing Base and for which a Loan was advanced fails at any time to be acceptable to the Lenders under the definition of Eligible Vehicle Collateral, as reasonably determined by the Lenders in its sole discretion, the Vehicle Facility Value of such Collateral as of such date of determination will be deemed to be zero.
Whilst transparency in this area is welcome, and Unite would only request as much information as possible where a takeover would without question have an impact on our members, this definition could push the offeror into outlining draconian cost saving measures in order to appeal to a wide audience and pacify aggressive investors.