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.

  • 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.

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

  • 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.

  • 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.

  • 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).

Related to Floor Plan Event of Default

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

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

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

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

  • 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.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

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

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

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

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • 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 the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.