Floor Plan Receivables means, as of any applicable date of determination, the aggregate amount outstanding from Dealers pursuant to financing extended to such Dealers by Company or any of its Subsidiaries for used motor vehicle inventories, such financing to be secured by the related motor vehicle inventories and any future cash collections owed by Company or its Subsidiaries to the Dealer under the applicable Dealer Agreement.
Floor Plan Receivables means, as of any applicable date of determination, the aggregate amount outstanding from Dealers pursuant to financing extended to such Dealers by Company or any of its Subsidiaries for used motor vehicle inventories, such financing to be secured by the related motor vehicle inventories and any future cash collections owed by Company or its Subsidiaries to the Dealer under the applicable Dealer Agreement in respect of outstanding Installment Contracts.
Floor Plan Receivables means Receivables owing from a dealership pursuant to floor plan documentation reasonably acceptable to Agent for which (a) is in compliance with Borrowers' floorplan guidelines, (b) a Borrower conducts periodic inventory inspections with respect thereto and such inventory is subject to supplemental GPS audit tracking technology (reasonably acceptable to Agent) upon Borrowers commencing use of such technology in the ordinary course of their business, (c) a Borrower holds a valid and effective first priority perfected security interest in the inventory financed with such dealership and (d) the aggregate amount owing from any one dealership does not exceed Five Hundred Thousand Dollars ($500,000).
More Definitions of Floor Plan Receivables
Floor Plan Receivables means Receivables owing from a dealership pursuant to floor plan documentation reasonably acceptable to Agent.