Floorplan Facility definition

Floorplan Facility means, collectively or individually, as the context may require, the New Vehicle Floorplan Facility or the Used Vehicle Floorplan Facility.
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Floorplan Facility means the floorplan loan facility provided for under Section 2.26.
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Floorplan Facility means the Floorplan Advance facility provided for under Section 2.26.
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Examples of Floorplan Facility in a sentence

  • A separate Revolving Floorplan Facility from the Bank of Nova Scotia (“BNS”) is available to the two dealerships managed by the Fund.

  • The CFC Revolving Floorplan Facility requires maintenance of certain financial covenants and is collateralized by a general security agreement consisting of a first security interest on all present and future property, the Fund's accounts receivable, and new, used and demonstrator vehicle inventory.

  • The CFC Revolving Floorplan Facility may in certain circumstances restrict the ability of AutoCanada LP and the Fund to pay distributions if the payment would result in a default under the CFC Revolving Floorplan Facility.

  • The Revolving Floorplan Facility may in certain circumstances restrict the ability of AutoCanada LP and the Fund to pay distributions if the payment would result in a default under the Revolving Floorplan Facility.

  • The 2020 Vehicle Floorplan Facility bears interest at a rate equal to the 1-Month LIBOR rate applicable in the immediately preceding month plus a spread of 425 basis points.

  • The BNS Revolving Floorplan Facility requires maintenance of certain financial covenants and is collateralized by a general security agreement consisting of first security interest on all present and future property of the managed dealerships, a $1,000 guarantee from the Fund, and the managed dealerships’ new, used and demonstrator vehicle inventory.

  • Outstanding borrowings related to the 2020 Vehicle Floorplan Facility are due as the vehicles financed are sold, or in any event, on the maturity date.

  • The Revolving Floorplan Facility requires maintenance of certain financial covenants and is collateralized by a general security agreement consisting of a first security interest on all present and future property, the Partnership’s accounts receivable, new, used and demonstrator vehicle inventory.

  • The BNS Revolving Floorplan Facility requires maintenance of certain financial covenants and is collateralized by a general security agreement consisting of a first security interest on all present and future property of the managed dealerships, a $1,000 guarantee from the Fund, and the managed dealerships’ new, used and demonstrator vehicle inventory.

  • The BNS Revolving Floorplan Facility requires maintenance of certain financial covenants and is collateralized by a general security agreement consisting of first security interest on all present and future property of the managed dealership, a $1,000 guarantee from the Fund, and the managed dealerships’ new, used and demonstrator vehicle inventory.


More Definitions of Floorplan Facility

Floorplan Facility means the “Floorplan Facility” under (and as defined in) the RevolvingCredit Agreement.“Floorplan Loans” means the “Floorplan Loans” under (and as defined in) the Revolving CreditAgreement.“Foreign Subsidiary” means, with respect to any Person, any subsidiary of such Person that isorganized and existing under the laws of any jurisdiction other than the United States of America, anystate thereof or the District of Columbia.“FSHCO” means any Domestic Subsidiary of the US Borrower that has no material assets otherthan the Equity Interests of one or more CFCs.“GAAP” means, subject to Section 1.04(a), generally accepted accounting principles in theUnited States of America, applied in accordance with the consistency requirements thereof.“Governmental Approvals” means all authorizations, consents, approvals, permits, licenses andexemptions of, registrations and filings with, and reports to, Governmental Authorities.“Governmental Authority” means the government of the United States of America or any othernation or any political subdivision of any thereof, and any agency, authority, instrumentality, regulatorybody, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory oradministrative powers or functions of or pertaining to government (including any supra-national bodyexercising such powers or functions, such as the European Union or the European Central Bank).“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent orotherwise, of the guarantor guaranteeing any Indebtedness or other obligation of any other Person (the“primary obligor”) in any manner, whether directly or indirectly, and including any obligation of theguarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase orpayment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for thepurchase of) any security for the payment thereof, (b) to purchase or lease property, securities orservices for the purpose of assuring the owner of such Indebtedness or other obligation of the paymentthereof, (c) to maintain working capital, equity capital or any other financial statement condition orliquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or otherobligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued tosupport such Indebtedness or other obligation; provided that the term “Guarante...
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Floorplan Facility means, collectively or individually, as the context may require, the New Vehicle Floorplan Facility or the Used Vehicle Floorplan Facility. “Floorplan Default” has the meaning specified for the term “Default” in the Floorplan Credit Agreement.
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Floorplan Facility means, collectively or individually, as the context may require, the New Vehicle Floorplan Facility or the Used Vehicle Floorplan Facility. “Floorplan Events of Default” has the meaning set forth in Section 8.03.
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Floorplan Facility means the “Floorplan Facility” under (and as defined in) the Revolving Credit Agreement.
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Floorplan Facility a credit facility extended pursuant to this Agreement.
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Related to Floorplan Facility

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Canadian Facility the credit facility available to the Canadian Borrowers and the U.S. Borrowers hereunder.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Revolver Facility means the credit facility as described in and subject to the limitations set forth in Section 2.01.

  • Facility C means the term loan facility made available under this Agreement as described in paragraph (c) of Clause 2.1 (Facilities).

  • Tranche B Facility means the aggregate of the Tranche B Commitments.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Revolving Facility means, at any time, the aggregate amount of the Revolving Lenders’ Revolving Commitments at such time.

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans outstanding, (b) Revolving L/C Exposures and (c) Available Unused Commitments that, taken together, represent more than 50% of the sum of (x) all Revolving Facility Loans outstanding, (y) all Revolving L/C Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Bank Facility means any credit agreement, including the Credit Agreement dated June 28, 2012 among Bank of America, N.A., Equinix, Inc. and the guarantors party thereto, as amended, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including one or more credit agreements, loan agreements or similar agreements or indentures extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Company as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, holders, lender or group of lenders.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.7.

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.