Floor Plan Event of Default definition

Floor Plan Event of Default means the occurrence of one of the events specified in Section 11.3.
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Examples of Floor Plan Event of Default in a sentence

  • 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.

  • Notwithstanding the foregoing, the Lenders shall continue to make Floor Plan Loans available to all Floor Plan Borrowers with respect to which no Floor Plan Event of Default has occurred until otherwise provided in Section 11.3(c) above.

  • It is the responsibility of each Vendor to have proposals received at the location identified in this section by the date and time specified.

  • Notwithstanding the foregoing, the Lenders shall continue to make Floor Plan Loans available to all Floor Plan Borrowers with respect to which no Floor Plan Event of Default has occurred until otherwise provided in Section 11.4(c) below.

  • Notwithstanding the foregoing, subject to the terms and conditions of Article XII hereof, the Floor Plan Agent may take all actions reasonably necessary to suspend and/or terminate Drafts in accordance with Section 11.4 following the occurrence of any Floor Plan Event of Default allowing the exercise of remedies under Section 11.4(c).

  • Notwithstanding the foregoing, subject to the terms and conditions of ARTICLE XII hereof, the Floor Plan Agent may take all actions reasonably necessary to suspend and/or terminate Drafts in accordance with Section 11.4 and following the occurrence of any Default (relating to a Floor Plan Event of Default) or Floor Plan Event of Default.

  • No Borrower will (A) distribute any funds from the Concentration Accounts or from any Floor Plan Borrower Dealership Account to any Floor Plan Borrower with respect to which any Floor Plan Event of Default exists, except to the extent necessary to cure such Floor Plan Event of Default or (B) receive funds from any Floor Plan Borrower Dealership Account from any Floor Plan Borrower with respect to which any Floor Plan Event of Default exists.

Related to Floor Plan Event of Default

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Event of Default has the meaning specified in Section 8.01.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).