Floor Plan Credit definition

Floor Plan Credit is defined in Section 1.1 and includes all amounts advanced to the Company under Section 1.1.
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Floor Plan Credit means and include any and all extensions by Lender of credit hereunder to, or for the benefit of, Borrower, with respect to the finance of Borrower’s Inventory including, without limitation, new watercraft, boat and boat motors and other Items.
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Floor Plan Credit means and include any and all extensions by Lender of credit hereunder to, or for the benefit of, Borrowers. “ GE ” shall mean General Electric Commercial Distribution Finance Corporation.
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Examples of Floor Plan Credit in a sentence

  • Subject to the terms and conditions hereof, each Lender severally agrees to extend a revolving line of credit (the “Floor Plan Credit”) to the Company that may be availed of by the Company from time to time during the period from and including the date hereof to but not including the Termination Date, at which time the commitments of the Lenders to extend credit under the Floor Plan Credit shall expire.

  • This Amendment is the final expression of the Amendment to the Amended and Restated Wholesale Floor Plan Credit Facility and Security Agreement by and between Borrower and Lender and may not be contradicted by evidence of any prior or contemporaneous oral agreement between the parties hereto.

  • The Company acknowledges that the Agent and Lenders will permit the lease of Floor Plan Units financed with the Floor Plan Credit solely as provided in this Amendment, but do not release their interests in the Floor Plan Unit, Receivables, or otherwise.

  • The maximum amount of the Floor Plan Credit that each Lender agrees to extend to the Company shall be as set forth opposite such Lender’s name on Schedule A hereto under the heading “Floor Plan Commitment”, as such amount may be reduced pursuant hereto (collectively for all Lenders, the “Floor Plan Commitments”).

  • This Compliance Certificate (this “Certificate”) is delivered to you on behalf of Titan Machinery, Inc., a Delaware corporation (“Borrower”), pursuant to Section 5.02(e) of that certain Amended and Restated Wholesale Floor Plan Credit Facility and Security Agreement, dated as of November 13, 2007 (as amended, supplemented, restated or modified from time to time, the “Credit Agreement”), between CNH Industrial Capital America LLC, a Delaware limited liability company (the “Lender”) and Borrower.

  • As of the Effective Date, the aggregate principal amount of the commitments with respect to the Floor Plan Loans under the Floor Plan Credit Agreement shall not be less than $40,000,000.

  • The Guarantee issued by any Guarantor shall be a general senior obligation of such Guarantor and shall be pari passu in right of payment with all existing and future Senior Indebtedness of such Guarantor (including its guarantee of all Obligations under the ABL Credit Facility and the Floor Plan Credit Facility).

  • The Company will not lease any Floor Plan Units financed by the Floor Plan Credit other than as provided in this Amendment.

  • The foregoing provisions are intended as an inducement to the lenders under the ABL Credit Facility and the Floor Plan Credit Facility to extend credit and such lenders are intended third party beneficiaries of such provisions and the provisions of the Intercreditor Agreement.

  • Borrowers agree that the maturity of Borrowers’ obligation, either for the for repayment of the Principal Amount of the Floor Plan Credit, or repayment of any Advance, or any payment due hereunder, may be extended at any time or from time to time without releasing, discharging, or affecting the liability of any other party.