Floorplan Collateral definition

Floorplan Collateral has the meaning specified in Section 2(c).
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Floorplan Collateral shall have the meaning provided in the Floorplan Intercreditor Agreement.
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Examples of Floorplan Collateral in a sentence

  • The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account and the Borrower hereby grants the Administrative Agent a security interest in the Floorplan Collateral Account.

  • The Member owns, directly or indirectly, 100% of the issued and outstanding membership interests of Seller, free and clear of any Adverse Claim other than the Adverse Claim in favor of (i) the Administrative Agent as contemplated by the Credit Agreement and (ii) the Floorplan Collateral Agent as contemplated by the Floorplan Credit Agreement.

  • The Administrative Agent hereby agrees to implement on each Business Day, and to keep and maintain at all times, the Floorplan Collateral Block in accordance with the terms of this Agreement.

  • The Bank Agent and the Floorplan Collateral Agent are parties to that certain Amended and Restated Intercreditor Agreement, dated as of April 26, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), between the Bank Agent and the Floorplan Collateral Agent and acknowledged by Insight Enterprises, Inc.

  • The Bank Agent and the Floorplan Collateral Agent are parties to that certain Intercreditor Agreement, dated as of September 17, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), between the Bank Agent and the Floorplan Collateral Agent and acknowledged by Insight Enterprises, Inc.

  • This Amendment No. 1 to Intercreditor Agreement (this “Amendment”) is made as of August 12, 2010, by and between JPMorgan Chase Bank, National Association, as Bank Agent (in such capacity, the “Bank Agent”), and Xxxxx Fargo Capital Finance, LLC (formerly known as Xxxxx Fargo Foothill, LLC,) as Floorplan Collateral Agent (in such capacity, the “Floorplan Collateral Agent”).

  • The Company shall cause (i) the Floorplan Collateral (as defined in the Floorplan Intercreditor Agreement) to be identical in scope to the Collateral (other than with respect to Foreign Assets) and (ii) the obligors on the Floorplan Obligations (as defined in the Floorplan Intercreditor Agreement) to be identical in scope to the obligors on the Secured Obligations (other than with respect to Foreign Subsidiaries).

  • Without notice or demand, if the sum of the outstanding principal balance of the Advances shall at any time exceed the Borrowing Base (provided that for determining if a payment is required under this Section 3.4 in connection with the Initial Advance before a subsequent Advance has been made, the Borrowing Base shall be calculated based on 66.67% of the Eligible Contracts except the J&J Floorplan Collateral), the Borrower shall immediately repay the Note to the extent necessary to eliminate such excess.

  • As long as no Event of Default shall have occurred, TEXTRON may consent to reserve Floorplan Collateral Coverage Reconciliation amounts against Revolving Loan excess availability, in lieu of a cash payment.

  • Floorplan Loan Exposure $ 0 In-transit Open Approvals (15% of total open approvals) $ 0 Total Floorplan Collateral Block $ 0 J.

Related to Floorplan Collateral

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Canadian Collateral means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Canadian Secured Obligations.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • First Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • UCC Collateral is defined in Section 3.03.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Hedge Collateral Defined in Section 5.3(b).

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

  • First Lien Collateral Agent means the “Collateral Agent” as defined in the First Lien Credit Agreement.

  • Foreign Collateral means all Collateral of Foreign Loan Parties securing the Guaranteed Foreign Obligations.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Lien Collateral Agent means the “Collateral Agent” as defined in the Second Lien Credit Agreement.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Letter of Credit Collateral has the meaning provided in Section 6.4.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.