Floor Plan Loan Commitment definition

Floor Plan Loan Commitment means, as to any Lender, the amount initially set forth opposite its name on Schedule 1.01 attached hereto in the column labeled “Floor Plan Loan Commitment,” and thereafter on any relevant Lender Addendum Assignment And Assumption, or as otherwise thereafter modified in accordance with the terms set forth in this Agreement, and “Floor Plan Loan Commitments” means the aggregate Floor Plan Loan Commitments of all of the Lenders.
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Floor Plan Loan Commitment means for each Floor Plan Lender, its obligation to make Floor Plan Loans to the Floor Plan Borrowers up to the amount set forth opposite such Lender’s name on Schedule 1.1
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Floor Plan Loan Commitment means for each Bank, its obligation to make Floor Plan Loans to the Floor Plan Borrowers up to the amount set forth opposite such Bank's name on Schedule I under the caption "Floor Plan Loan Commitments" (as the same may be increased, permanently terminated, reduced or increased from time to time pursuant to the applicable provisions of Sections 2.3(g)(iii), 3.4, 5.5 or 11.1 and as such amount may be increased or decreased from time to time by assignment or assumption pursuant to Section 13.3(b)).
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Examples of Floor Plan Loan Commitment in a sentence

  • The Floor Plan Loan Commitment Fees and the Acquisition Loan Commitment Fees due to each Lender shall commence to accrue on the Closing Date and cease to accrue on the earlier of the Maturity Date and the termination of the Commitments of such Lender pursuant to Section 5.5 or Section 13.3(b).

  • On the Closing Date, the Floor Plan Borrowers shall deliver a Floor Plan Loan Note executed by an Authorized Officer of each Floor Plan Borrower to each of the Floor Plan Lenders, with the face amount of such Floor Plan Loan Notes to be in the amount of the Floor Plan Loan Commitment of the respective Floor Plan Lender.

  • The Commitment of any such New Lender shall be in an amount not less than $10,000,000, and such Commitment must be comprised of both a Floor Plan Loan Commitment and an Acquisition Loan Commitment, both in the same ratio with respect to the Total Floor Plan Loan Commitment and the Total Acquisition Loan Commitment.

  • Each Floor Plan Lender shall purchase an irrevocable and unconditional participation in each M&T Advance, in an amount equal to such Floor Plan Lender’s respective Floor Plan Loan Commitment Percentage of the principal amount of such M&T Advance, effective immediately upon the funding of each M&T Advance.

  • Each Floor Plan Lender shall make the amount of its pro rata share (calculated in accordance with its respective Floor Plan Loan Commitment Percentage) of each requested borrowing available to the Administrative Agent for the accounts of the Floor Plan Borrowers at the offices of the Administrative Agent specified in this Agreement prior to 2:00 pm (Eastern Time) on the Borrowing Date requested by the Borrower Representative in U.S. Dollars and in funds immediately available to the Administrative Agent.

  • It is agreed that each Floor Plan Lender’s funded portion of the aggregate outstanding principal balances of Floor Plan Loans is intended by the Floor Plan Lenders to be equal at all times to such Floor Plan Lender’s respective Floor Plan Loan Commitment Percentage of the aggregate outstanding principal balances of the Floor Plan Loans.

  • Following any such conversion or reversal, the amount of each Lender’s Acquisition Loan Commitment and Floor Plan Loan Commitment shall be noted on the Agent’s records, which records will be conclusive evidence thereof, absent manifest error; provided, however, that any failure by the Agent to record any such information shall not affect the obligations of the Borrowers with respect thereto in accordance with the terms of this Agreement and the Loan Documents.

  • Notwithstanding anything to the contrary contained herein, no such request shall require any Floor Plan Lender to make Floor Plan Loans in excess of such Floor Plan Lender’s Floor Plan Loan Commitment on the date such request is made.

  • After giving effect to all Borrowings of Swing Line Loans and Floor Plan Loans requested on any date, the sum of the aggregate principal amount of all outstanding Floor Plan Loans and Swing Line Loans (but excluding Swing Line Overdraft Loans) shall not exceed the Total Floor Plan Loan Commitment.

  • In addition, (i) no such reduction shall cause the Total Acquisition Loan Commitment to exceed its percentage of the Total Commitments in effect on the Closing Date and (ii) the ratio of such Lender’s Floor Plan Loan Commitment to such Lender’s Acquisition Loan Commitment shall never be less than such ratio on the Closing Date.


More Definitions of Floor Plan Loan Commitment

Floor Plan Loan Commitment means (a) as to any Lender, the aggregate commitment of such Lender to make Floor Plan Advances (including without duplication Swing Line Advances) as set forth on Annex I to the Agreement or in the most recent Assignment Agreement executed by such Lender and (b) as to all Lenders, the aggregate commitment of all Lenders to make Floor Plan Advances, which aggregate commitment shall be Eighty-Five Million Dollars ($85,000,000) on the Closing Date, as such amount may be adjusted, if at all, from time to time in accordance with the Agreement; provided, however, that the aggregate principal amount of Floor Plan Loans attributable to Used Vehicles shall not exceed the Used Vehicle Net Borrowing Availability.
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Floor Plan Loan Commitment means, as to any Lender, the amount initially set forth opposite its name on Schedule 1.01 attached hereto in the column labeled “Floor Plan Loan Commitment,” and thereafter on any relevant Lender Addendum Assignment And Assumption, or as otherwise thereafter modified in accordance with the terms set forth in this Agreement, and “Floor Plan Loan Commitments” means the aggregate Floor Plan Loan Commitments of all of the Lenders. The aggregate Floor Plan Loan Commitments of all of the Lenders shall be (a) Three Hundred Twenty-Five Million Dollars ($325,000,000) from the Third Amendment Effective Date through the Camping World Asset Sale Outside Date, and (b) Two Hundred Ninety-Five Million Dollars ($295,000,000) from the Camping World Asset Sale Outside Date through the Maturity Date.
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Related to Floor Plan Loan Commitment

  • Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Total Loan Commitment means an amount equal to the aggregate amount of all Loan Commitments.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Term Loan Commitments means the aggregate amount of such commitments of all Lenders.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • New Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Term B Loan Commitment means the obligation of the Term B Lenders to make a Term B Loan on the Closing Date in an aggregate principal amount equal to $850,000,000. The Term B Loan Commitment on the Closing Date is $850,000,000.

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.