Floor Plan Borrowers definition

Floor Plan Borrowers means (a) the Borrowers listed on Schedule 1.01(a) as of the Closing Date and (b) any other Subsidiaries that from time to time become a Borrower under the Floor Plan Facility pursuant to a Joinder Agreement.
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Floor Plan Borrowers means the Company and/or any Floor Plan Subsidiaries.
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Floor Plan Borrowers means Automile Holdings, LLC and AMR Auto Holdings- SM, LLC (dba Manchester Subaru), jointly and severally, and any other Subsidiary that becomes a Floor Plan Borrower by agreement between the Administrative Agent, the Lender, and the Borrower Representative.
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Examples of Floor Plan Borrowers in a sentence

  • Any Loan Request delivered to the Administrative Agent by the Borrower Representative on behalf of the Floor Plan Borrowers shall be in the form approved by the Administrative Agent executed by an Authorized Officer of the Borrower Representative.

  • All original Manufacturer’s or vendor’s invoices and title documents evidencing the ownership of each Floor Plan Borrower of Floor Plan Vehicles or Units financed by the Floor Plan Loans, including, without limitation, the applicable Manufacturer’s Certificates, shall be maintained in safekeeping by the respective Floor Plan Borrowers in a manner and location acceptable to the Administrative Agent, unless and until an Event Ofof Default has occurred and is continuing.

  • In the event that the aggregate unpaid principal balances of the Floor Plan Loans (including M&T Advances) exceed the above-stated limitations in any respect, the Floor Plan Borrowers shall immediately make such payments to the Administrative Agent as will be sufficient to reduce the aggregate unpaid principal balances of the Floor Plan Loans to an aggregate amount which will not be in excess of such limitations.

  • The Administrative Agent may at any time in its sole and absolute discretion establish limits on the aggregate outstanding amount of any Floor Plan Loans available to be used by the Floor Plan Borrowers to finance purchases of Eligible New Floor Plan Units from a particular Manufacturer, supplier or dealer.

  • The proceeds of the Floor Plan Loans shall be used by the Borrowers solely to finance the purchase and holding by the Floor Plan Borrowers of Floor Plan Vehicles or Units as set forth above in this Section 2.01 and subsections thereof.

  • The Floor Plan Borrowers shall not request any advances of proceeds of the Floor Plan Loans which would cause the aggregate unpaid principal balances of the Floor Plan Loans (including M&T Advances) to exceed the above-stated limitations.

  • To the extent that any Floor Plan Vehicle or Unit is Out Of Balance, the Floor Plan Borrowers shall immediately pay to the Administrative Agent for the accounts of the Floor Plan Lenders such sums as are necessary so that the outstanding balance of the Floor Plan Loans allocable to each such Floor Plan Vehicle or Unit is paid in accordance with Sections 2.01.6, 2.01.7, 2.01.8, and 2.01.9.

  • Subject to the application and satisfaction of the terms and conditions of this Agreement and of the other Credit Documents, during the Availability Period in respect of the Floor Plan Facility, the Floor Plan Borrowers may borrow, prepay, and reborrow the Floor Plan Loans in whole or in part.

  • Each Floor Plan Lender shall make the amount of its pro rata share (calculated in accordance with its respective Floor Plan Loan Commitment Percentage) of each requested borrowing available to the Administrative Agent for the accounts of the Floor Plan Borrowers at the offices of the Administrative Agent specified in this Agreement prior to 2:00 pm (Eastern Time) on the Borrowing Date requested by the Borrower Representative in U.S. Dollars and in funds immediately available to the Administrative Agent.

  • The Floor Plan Borrowers unconditionally, jointly and severally, promise to pay to the Administrative Agent for the accounts of the Floor Plan Lenders the then aggregate unpaid principal balances of each Floor Plan Loan of the Floor Plan Lenders on or before the Floor Plan Line of Credit Termination Date (or on any earlier date on which the Floor Plan Loans become due and payable as required by the stated provisions of this Agreement).

Related to Floor Plan Borrowers

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.