Floorplan Payment Default definition

Floorplan Payment Default shall not mean or include, and shall exclude, any deductions, offsets or other disputes made or asserted by Reseller which are accepted by or under negotiation with Administrative Agents.

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Floorplan Payment Default means any failure by Reseller to make any payment under a Transaction Statement or an Extended Pay Notification, as the case may be. “Floorplan Payment Default” shall not mean or include, and shall exclude, any deductions, offsets or other disputes made or asserted by Reseller which are accepted by or under negotiation with Administrative Agents.

Floorplan Payment Default means any failure by Borrower to make any payment, under a Statement of Transaction by the thirtieth (30th) day following the last day of the no interest period set forth in a Statement of Transaction. "Floorplan Payment Default" shall not mean or include, and shall exclude, any deductions, offsets or other disputes made or asserted by Borrower which are accepted by or under negotiation with Administrative Agent.

Examples of Floorplan Payment Default in a sentence

Failure of Reseller to pay (a) any interest accrued on any of the Loans when due, or (b) any principal of the Loans when due; provided, however, it shall not be an Event of Default with respect to the payment of any principal or interest on any Floorplan Loan or Interim Floorplan Loan until the occurrence of a Floorplan Payment Default.
Failure of Borrower to pay (i) any interest accrued on any of the Loans within three (3) Business Days after the date when due, or (ii) any principal of the Loans when due; provided, however, it shall not be an Event of Default with respect to the payment of any principal or interest on any Floorplan Loan or Interim Floorplan Loan until the occurrence of a Floorplan Payment Default.
Floorplan Loan Maturity Date -- is defined in Section 6.1.2.3. Floorplan Payment Default -- is defined in Section 16.1.1.

More Definitions of Floorplan Payment Default

Floorplan Payment Default is defined in Section 17.1.1.