Floor Plan Financing means financing arrangements pursuant to which a capital provider agrees to extend credit to Borrower or a Restricted Subsidiary to finance Floor Plan Units that are either held available for sale or as inventory by Borrower or such Restricted Subsidiary.
Floor Plan Financing means a financing undertaken by the Company or any Subsidiary all of the proceeds of which are used to purchase Motor Vehicles to be sold in the ordinary course of business of the Company and its Subsidiaries. Floor Plan Financing Provider means each provider of Floor Plan Financing to the Company and its Subsidiaries.
Floor Plan Financing means a financing undertaken by the Company or any Subsidiary (a) all of the proceeds of which are (i) used to purchase Motor Vehicles to be sold or leased in the ordinary course of business by the Company and its Subsidiaries, (ii) relating to funds expended by the Company or such Subsidiary initially to acquire such Motor Vehicles or (iii) used to refinance any financing within the scope of clause (a)(i) or (ii) above or (b) pursuant to a borrowing base line of credit secured by Used Motor Vehicles owned by the Company and its Subsidiaries.
Examples of Floor Plan Financing in a sentence
Except pursuant to the Floor Plan Financing Guidelines, the Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental Authority.
Unless otherwise agreed to by Lender, the rates and terms in effect on the date Lender extends any Floor Plan Financing to Borrower under the Agreement, shall be the rates and terms in effect for said Floor Plan Financing until it is repaid in full.
Not modify any Floor Plan Financing arrangement if such modification would have a Material Adverse Effect.
Borrower’s request to Lender to extend such Floor Plan Financing shall be deemed an acceptance of the terms, conditions, provisions and rates in force for the particular rates and terms in effect at that time by Lender.
This Exhibit A is attached to and forms a part of that certain Wholesale Floor Plan Financing Agreement (the “Agreement”) between Capsource Equipment Company, Inc.
More Definitions of Floor Plan Financing
Floor Plan Financing means that certain floor planning arrangement among the Borrower and/or any of its Subsidiaries and one or more financial institutions pursuant to which any such financial institution provides credit to retail dealers and wholesale distributors which purchase goods from the Borrower and any of its Subsidiaries.
Floor Plan Financing means an inventory line of credit or note with a financial institution or a Manufacturer Affiliated finance company with respect to New Cars and Used Cars from time to time held for sale in connection with the Dealership Business.
Floor Plan Financing means any floor plan financing or other indebtedness incurred by any Loan Party or any of its Restricted Subsidiaries (including Indebtedness in respect of Open Accounts) for the purposes of financing all or a portion of the purchase of Equipment Inventory.
Floor Plan Financing means financing arrangements pursuant to which a capital provider agrees to extend credit to a Specified Floor Plan Company to finance the purchase of vehicles and other related assets that are either held available for sale or as inventory by such Specified Floor Plan Company, and pursuant to which such Specified Floor Plan Company grants to such capital provider a security interest in such specific vehicles and other related assets financed by such capital provider and the proceeds thereof; provided that (i) no Subsidiary that is not a Specified Floor Plan Company shall be a borrower in respect of such arrangements and in no event shall such security interest apply to any Certificated Rental Equipment and (ii) the terms of any such Floor Plan Financing shall be substantially similar to the terms of any Floor Plan Financing in existence on the Closing Date with changes that are not materially adverse to the Lenders as determined by the Borrower and the Administrative Agent in their reasonable discretion.
Floor Plan Financing. Availability shall mean the lines of credit facilities (whether or not in use) of third party lenders to provide financing to Loan Parties which are in the business of retail sales of manufactured housing products. Foreign Subsidiary shall mean any subsidiary of the Borrower which is not a Domestic Subsidiary. GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3, and applied on a consistent basis both as to classification of items and amounts. Governmental Acts shall have the meaning assigned to that term in Section 2.9.8. Guarantor shall mean each of the parties to this Agreement which is designated as a "Guarantor" on the signature pages of Amendment No. 6 and each other Person which joins this Agreement as a Guarantor after the date hereof pursuant to Section 10.18. Each of the Domestic Subsidiaries now existing is a Guarantor and each Domestic Subsidiary hereafter created shall join this Agreement as a Guarantor.
Floor Plan Financing means a financing undertaken by the Company or any Subsidiary (a) all of the proceeds of which are (i) used to purchase Motor Vehicles to be sold in the ordinary course of business by the Company and its Subsidiaries, (ii) relating to funds expended by the Company or such Subsidiary initially to acquire such Motor Vehicles or (iii) used to refinance any financing within the scope of clause (a)(i) or (ii) above or (b) pursuant to a borrowing base line of credit secured by Used Motor Vehicles owned by the Company and its Subsidiaries. Notwithstanding the foregoing, Floor Plan Financing shall not include any Hertz Debt. Floor Plan Financing Provider means each provider of Floor Plan Financing to the Company and its Subsidiaries.
Floor Plan Financing means all working capital Debt of the Company incurred to finance manufactured homes inventory held and available for sale, which Debt is required to be reduced substantially concurrently with the sales of such inventory out of the proceeds of such sales.