Floor Plan Units definition

Floor Plan Units means inventory of the Borrowers consisting of recreational vehicles and/or towables sold or leased by the Borrowers in the ordinary course of their businesses. Floor Plan Units do not include supplies or spare parts inventory.
Sample 1Sample 2Sample 3
Floor Plan Units means inventory of the Borrower and its restricted subsidiaries consisting of automobiles, motorcycles, power sports vehicles or any other vehicle sold or leased by the Borrower or its restricted subsidiaries in the ordinary course of their business. Floor Plan Units do not include supplies or spare parts inventory.
Sample 1
Floor Plan Units means and includes all inventory of the Company consisting of recreational vehicles and/or towables that are owned and held for sale or lease by the Company in the ordinary course of its business, it being acknowledged and agreed that Floor Plan Units shall not include supplies or spare parts inventory);
Sample 1

Examples of Floor Plan Units in a sentence

  • The Administrative Agent may at any time in its sole and absolute discretion establish limits on the aggregate outstanding amount of any Floor Plan Loans available to be used by the Floor Plan Borrowers to finance purchases of Eligible New Floor Plan Units from a particular Manufacturer, supplier or dealer.

  • The relevant Borrower shall provide written confirmation to the Administrative Agent acknowledging receipt of Eligible New Floor Plan Units, Specified New Floor Plan Units, Eligible Rental Floor Plan Units or Permitted Company Vehicles no later than 48 hours after the delivery of such Eligible New Floor Plan Units, Specified New Floor Plan Units, Eligible Rental Floor Plan Units or Permitted Company Vehicles.

  • For the avoidance of doubt, the limits expressed in the preceding sentence are sublimits of the amounts of Floor Plan Loans permitted with respect to Eligible New Floor Plan Units and Eligible Rental Floor Plan Units under this Agreement from time to time, and shall not modify the amount of the Floor Plan Commitments or maximum amount of Floor Plan Loans permitted with respect to Eligible New Floor Plan Units or Eligible Rental Floor Plan Units hereunder.

  • With respect to each Eligible Floor Plan Unit, the related Floor Plan Borrower is and shall continue to be in the business of selling Floor Plan Units, and in each jurisdiction where such Floor Plan Borrower maintains any Floor Plan Units or is “located” (for purposes of the UCC), the Lien of the Administrative Agent and the Lenders on such Floor Plan Units is and shall continue to be perfected by filing a UCC financing statement in accordance with Section 9-311(a) and (d) of the applicable UCC.

  • The Administrative Agent, in its sole discretion, may change the Manufacturer Category of any manufacturer or supplier of Floor Plan Units (or add a manufacturer or supplier to, or remove a manufacturer or supplier from, a Manufacturer Category) from time to time pursuant to Section 2.02(e).

  • Additionally, all listings of assets delivered to the Administrative Agent or the Lenders pursuant to the Agreement must clearly identify the Floor Plan Units that are subject to the Hurricane Program.

  • Each Borrower agrees to use its reasonable best efforts to cause the manufacturers or other suppliers of Floor Plan Units to enter into Eligible Repurchase Agreements.

  • To the extent requested by Administrative Agent, each Borrower agrees to use its commercially reasonable efforts to cause the Manufacturers or other suppliers of Floor Plan Units to enter into Repurchase Agreements.

  • Each Borrowing of Floor Plan Loans under the Program shall be advanced against individual Floor Plan Units on a specific identification basis and will be subject to all the limits specified in this Section.

  • During any period of time in which the Company is leasing Floor Plan Units to Lessees pursuant to the Program, the Company shall maintain, in addition to the insurance required by the Agreement, lessor liability coverage in an amount equal to at least $1,000,000 per Floor Plan Unit that is leased.

Related to Floor Plan Units

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Residential Units means individually or collectively (as the context requires), any or all residential apartment unit(s) in the Project.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Class V Common Stock means the Class V common stock, par value $0.0001 per share, of the Corporation.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Common Units is defined in the Partnership Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • car-share parking space means a parking space that is reserved and actively used for car-sharing;

  • Option Units means the Common Units that the Partnership will agree to issue upon an exercise of the Over-Allotment Option.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Class C Common Stock means the Class C Common Stock, par value $0.01 per share, of the Company.

  • Trust Units means units of the Trust;

  • Over-Allotment Units means the additional number of Private Units the Sponsor will be required to purchase in the event that the underwriters in the Company’s initial public offering exercise their over-allotment option, as described in the prospectus relating to the Company’s initial public offering.

  • Building Square Footage or "BSF" means the square footage of assessable internal living space of a Unit, exclusive of any carports, walkways, garages, overhangs, patios, enclosed patios, detached accessory structure, other structures not used as living space, or any other square footage excluded under Government Code Section 65995 as determined by reference to the Building Permit for such Unit.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Additional Units means such Units (as defined herein) as are issued in respect of Additional Securities."

  • Residential Unit means a home, apartment, residential condominium unit or mobile home, serving as the principal place of residence.

  • Class A Common Stock means the Class A Common Stock, par value $.01 per share, of the Company.

  • Class B Common Stock means the Class B common stock, par value $0.0001 per share, of the Company.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Units serving lower income households means units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. Effective October 13, 2017, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that receives federal low income housing tax credits shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size (“over-income” tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.

  • public units means the state or a political subdivision or instrumentality of the state including a county, school corporation, special district, drainage district, unincorporated town or township, municipality, or municipal corporation or any agency, board, or commission of the state or a political subdivision; any court or public body; an electric power agency; federal and state grant moneys of a quasi-public state entity under Iowa Code section 12C.1, subsection (2e), and this chapter. Public units additionally include, but are not limited to: