Floorplan Usage definition

Floorplan Usage means, as of any date of determination, the amount of outstanding Floorplan Loans (inclusive of Floorplan Swing Loans and Floorplan Protective Advances).
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Examples of Floorplan Usage in a sentence

  • Borrower may reduce the Floorplan Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Floorplan Usage as of such date, plus (B) the principal amount of all Floorplan Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a).

  • If, at any time, (A) the Floorplan Usage on such date exceeds (B) the Floorplan Borrowing Base reflected in the Floorplan Borrowing Base Certificate most recently delivered by Borrower to Agent, then Borrower shall immediately prepay the Obligations in accordance with Section 2.4(f) in an aggregate amount equal to the amount of such excess.

  • The U.S. Borrowers may reduce the U.S. Floorplan Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the U.S. Floorplan Usage as of such date, plus (B) the principal amount of all U.S. Floorplan Loans not yet made as to which a request has been given by U.S. Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by U.S. Borrowers pursuant to Section 2.11(a).

  • If, at any time, (A) the U.S. Floorplan Usage on such date exceeds (B) the U.S. Floorplan Borrowing Base reflected in the U.S. Floorplan Borrowing Base Certificate most recently delivered by U.S. Borrowers to Agent, then U.S. Borrowers shall immediately prepay the U.S. Obligations in accordance with Section 2.4(f) in an aggregate amount equal to the amount of such excess.

  • If, at any time, (A) the Australian Floorplan Usage on such date exceeds (B) the Australian Floorplan Borrowing Base reflected in the Australian Floorplan Borrowing Base Certificate most recently delivered by Australian Borrowers to Agent, then Australian Borrowers shall immediately prepay the Australian Obligations in accordance with Section 2.4(f) in an aggregate amount equal to the amount of such excess.

Related to Floorplan Usage

  • Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.

  • 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.

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Total Revolving Outstandings means the aggregate Outstanding Amount of all Revolving Loans, all Swing Line Loans and all L/C Obligations.

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Aggregate Outstandings means, at a particular time, the sum of (a) the Aggregate Letters of Credit Outstandings at such time and (b) the aggregate outstanding principal amount of all Revolving Credit Loans at such time.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Total Outstandings means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Maximum Credit means, at any time, the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Total Outstanding Amount means, at any time, the aggregate Dollar Amount of all Loans outstanding at such time plus the aggregate Dollar Amount of the Letter of Credit Liabilities of all Lenders at such time.

  • Aggregate Outstanding Amount With respect to any of the Notes as of any date, the aggregate unpaid principal amount of such Notes Outstanding on such date.

  • Revolving Outstandings means, at any time, the sum of (a) the aggregate principal amount of all outstanding Revolving Loans, plus (b) the Stated Amount of all Letters of Credit.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Principal Outstanding means the principal amount of the Loan outstanding as on the date of occurrence of Insured Event less the portion of principal component included in the EMIs payable but not paid from the date of the loan agreement till the date of the Insured Event/s. For the purpose of avoidance of doubt, it is clarified that any EMIs that are overdue and unpaid to the Bank prior to the occurrence of the Insured Event will not be considered for the purpose of this Policy and shall be deemed as paid by the Insured.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Canadian Availability means (a) the lesser of (x) the Canadian Sublimit and (y) the sum of (i) the Canadian Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the Canadian Borrower exceeds the Canadian Borrowing Base, the US Availability (calculated without giving effect to any Canadian US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the Canadian Borrower.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).