Floor Plan Borrowing definition

Floor Plan Borrowing means a borrowing consisting of simultaneous Floor Plan Loans of the same Type, or a borrowing advanced by M&T Advance Lender as a M&T Advance subject to pro-rata participations by the Floor Plan Lenders, all as set forth in Sections 2.01 and 2.02 of this Agreement.
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Floor Plan Borrowing means a borrowing of Floor Plan Loans pursuant to Section 2.02.
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Floor Plan Borrowing means a Borrowing consisting of simultaneous Floor Plan Loans made by each of the Lenders pursuant to Section 2.1.
Sample 1

Examples of Floor Plan Borrowing in a sentence

  • The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic notices, Floor Plan Borrowing Notices or Letter of Credit Applications) purportedly given by or on behalf of a Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.

  • The Executive secretary of the Faculty Senate shall serve as secretary of the faculty.The Faculty Senate Steering Committee will have the power to call a meeting of the faculty.

  • Mr. Cullinan stated that city utilities operate as an enterprise fund and are structured on a break-even basis.

  • Upon satisfaction of the applicable conditions set forth herein, the Administrative Agent shall make all funds so received available to the applicable Borrowers in like funds as received by the Administrative Agent by crediting the account of such Borrower (or of another Loan Party at such Borrower’s direction) on the books of Truist Bank with the amount of such funds on the Business Day specified in the applicable Notice of Floor Plan Borrowing.

  • Each Lender shall make the amount of its pro rata share (calculated in accordance with its respective Floor Plan Commitment Percentage) of each requested Floor Plan Borrowing available to the Administrative Agent for the account of the applicable Floor Plan Borrower at the offices of the Administrative Agent specified in this Agreement prior to 2:00 p.m. on the Borrowing Date requested by such Floor Plan Borrower in U.S. Dollars and in funds immediately available to the Administrative Agent.

  • Each Draft submitted by a Manufacturer pursuant to a Drafting Agreement shall be deemed automatically to constitute a Floor Plan Committed Loan Notice for a Floor Plan Borrowing.

  • Each such Notice of Floor Plan Borrowing must be received by the Administrative Agent not later than 11:00 a.m. one (1) Business Day prior to the requested date of any Floor Plan Borrowing.

  • Such request shall be made in writing (which written request shall be deemed to be a Notice of Floor Plan Borrowing for purposes hereof) and in accordance with the requirements of Section 2.2, without regard to any minimum and multiples specified therein for the principal amount of Floor Plan Loans, but subject to the unutilized portion of the Aggregate Floor Plan Commitments and the conditions set forth herein.

  • Each Floor Plan Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as such Borrowers may request.

  • Each such Lender shall make the amount of its Floor Plan Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Payment Office not later than 2:00 p.m. on the Business Day specified in the applicable Notice of Floor Plan Borrowing.


More Definitions of Floor Plan Borrowing

Floor Plan Borrowing means a borrowing of Floor Plan Loans pursuant to Section 2.02 .
Sample 1

Related to Floor Plan Borrowing

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

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

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

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

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

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

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

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

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Letter of Credit Borrowing means any Credit Extension resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans.

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

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

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Swingline Borrowing means a borrowing of a Swingline Loan pursuant to Section 2.04.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.