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.

Floorplan Facility means the Floorplan Advance facility provided for under Section 2.26.

Examples of Floorplan Facility in a sentence

All fees and interest accrued under the New Vehicle Floorplan Facility as of the effective date of any termination of the Aggregate New Vehicle Floorplan Commitments shall be paid on the effective date of such termination; provided that, interest due and payable to the New Vehicle Swing Line Lender (in such capacity) shall be due and payable pursuant to terms acceptable to the New Vehicle Swing Line Lender in its sole discretion.
All fees and interest accrued under the Used Vehicle Floorplan Facility as of the effective date of any termination of the Aggregate Used Vehicle Floorplan Commitments shall be paid on the effective date of such termination; provided that, interest due and payable to the Used Vehicle Swing Line Lender (in such capacity), shall be due and payable pursuant to terms acceptable to the Used Vehicle Swing Line Lender in its sole discretion.
The parties hereto acknowledge and agree that prior to any such Subsidiary becoming entitled to utilize the Used Vehicle Floorplan Facility the Administrative Agent and the other Lenders shall have received the documents required by Section 6.14.
The parties hereto acknowledge and agree that prior to any such Subsidiary becoming entitled to utilize the New Vehicle Floorplan Facility the Administrative Agent, the New Vehicle Floorplan Swing Line Lender, and the other Lenders shall have received the documents required by Section 6.14.
Notwithstanding the foregoing, the liability of each New Vehicle Borrower with respect to its New Vehicle Floorplan Facility Liabilities shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law.
It is the express purpose and intent of the parties hereto that the joint and several liability of each New Vehicle Borrower for the New Vehicle Floorplan Facility Liabilities shall be absolute and unconditional under any and all circumstances and shall not be discharged except by payment as herein provided.
It is the express purpose and intent of the parties hereto that the joint and several liability of each Used Vehicle Borrower for the Used Vehicle Floorplan Facility Liabilities shall be absolute and unconditional under any and all circumstances and shall not be discharged except by payment as herein provided.
Notwithstanding the foregoing, the liability of each Used Vehicle Borrower (other than the Company) with respect to its Used Vehicle Floorplan Facility Liabilities shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law.
Each Borrower authorizes the Used Vehicle Swing Line Lender to furnish each auction house covered by an Auction Agreement information reflecting the Used Vehicle Floorplan Facility provided by this Agreement.
The Used Vehicle Swing Line Lender is further authorized to advise any applicable auction house of any change or termination which may occur with respect to the Used Vehicle Floorplan Facility.

More Definitions of Floorplan Facility

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 “Guarantee” shall not includeendorsement...

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.

Floorplan Facility means the Floorplan Loan facility described in Section 2.1(a).

Floorplan Facility means the “Floorplan Facility” under (and as defined in) the Revolving Credit Agreement.

Floorplan Facility a credit facility extended pursuant to this Agreement.

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.