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

  • Notwithstanding anything to the contrary contained herein, each of the Floor Plan Borrowers shall bear all risk of loss resulting from the payment of any Draft, or any resulting disbursements of the Floor Plan Loans, Swing Line Loans or Swing Line Overdraft Loans, as the case may be, whether or not due to the gross negligence, willful misconduct or fraud of any Manufacturer.

  • The proceeds of the Floor Plan Loans may be used only to finance the purchase of Motor Vehicles for resale in the ordinary course of business of the Floor Plan Borrowers.

  • Each of the Floor Plan Borrowers hereby authorizes the Swing Line Bank to disburse Swing Line Loans pursuant to the telephone instructions of any Person purporting to be a Person identified by name on a written list of Persons authorized by each such Floor Plan Borrower to make Requests for Borrowings of Swing Line Loans on behalf of such Floor Plan Borrowers.

  • Within thirty (30) days after the end of each fiscal quarter of the Company, the Floor Plan Agent shall deliver to the Agent a summary of the audits of Motor Vehicles of each of the Floor Plan Borrowers performed by the Floor Plan Agent during the fiscal quarter just ended, setting forth therein a spread sheet reflecting for all Floor Plan Borrowers all Motor Vehicles Out of Balance at any time during such fiscal quarter each such Motor Vehicle was Out of Balance.

  • Notwithstanding the foregoing, each of the Floor Plan Borrowers acknowledges and agrees that such Floor Plan Borrower shall bear all risk of loss resulting from disbursements made upon any telephone request.

  • In any such event, the Floor Plan Borrowers shall remain obligated to pay the amount of any Draft forthwith as set forth herein and shall have all other duties and obligations applicable to the Floor Plan Borrowers under this Agreement.

  • The Floor Plan Borrowers are engaged in the business of selling Motor Vehicles.

  • Each of the Floor Plan Borrowers agrees that it shall be bound by any action taken by the Company on its behalf pursuant to such appointment.

  • The Company will maintain, on a consolidated basis, insurance to such extent and against such hazards and liabilities as is commonly maintained by companies similarly situated or as may be required in the Security Documents including, without limitation with respect to Motor Vehicles owned by Floor Plan Borrowers and financed under this Agreement, naming the Agent, for the benefit of the Lenders, as additional loss payee.

  • All original Manufacturer’s invoices and title documents evidencing the Floor Plan Borrowers’ ownership of all of their Motor Vehicles financed hereunder, including, without limitation, the Manufacturer’s Certificate, shall be maintained in safekeeping by the Floor Plan Borrowers in a manner acceptable to the Floor Plan Agent, unless and until a Floor Plan Event of Default has occurred and is continuing.

Related to Floor Plan Borrowers

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

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

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

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Canadian Borrower as defined in the preamble hereto.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

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

  • Subsidiary Borrowers as defined in the preamble 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.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

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

  • Revolving Credit Limit has the meaning set forth in the Schedule.

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

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

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

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • 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.