Inventory Financing definition
Inventory Financing means a financing arrangement pursuant to which a member of the Group sells inventory to a bank or other institution (or a special purpose vehicle or partnership incorporated or established by or on behalf of such bank or other institution or an Affiliate of such bank or other institution) and has an obligation to repurchase such inventory to the extent that it is not sold to a third party within a specified period.
Inventory Financing means the financing of motor vehicle inventory by Dealers.
Inventory Financing shall have the meaning as that term is defined in the Recitals.
Examples of Inventory Financing in a sentence
If only one Wholesale Billing Statement is provided by the Ally Parties, the Wholesale Billing Statement will indicate (by account number or otherwise) the Inventory Financing provided by each of the Ally Parties.
Nothing in this Agreement obligates Dealership to obtain Inventory Financing from the Ally Parties based on any relationship that either of the Ally Parties may have with one or more Vehicle Sellers.
Otherwise, they are deemed as continuing and reaffirmed each time either of the Ally Parties provides Inventory Financing to Dealership.
The Inventory Financing will be governed by the terms of this Agreement.
Ally is willing to provide Dealership with Inventory Financing in accordance with all of the provisions of this Agreement.
More Definitions of Inventory Financing
Inventory Financing means a financing, pursuant to which the applicable lender thereunder will make available to the Company a credit facility not to exceed $4,000,000.00 outstanding at any point in time, the proceeds of which will be used to fund the purchase from vendors of assets in the form of (a) equipment (and related services) and/or (b) inventory, including for resale to customers and which credit facility may be secured by a Lien in favor of the applicable lender solely on the assets acquired with such credit facility and the proceeds thereof.
Inventory Financing means Indebtedness arising from an agreement for the financing of inventory entered into in the ordinary course of business between the Company or any of its Subsidiaries and a bank or financial institution experienced in providing financing of inventory.
Inventory Financing means advancing the purchase price of the Vehicles directly to the Vehicle Sellers, advancing funds to other third parties who are not Vehicle Sellers or loaning money directly to RMBL Missouri for Vehicles purchased from Vehicle Sellers by RMBL Missouri.
Inventory Financing means any program providing for (x) the sale, contribution and/or transfer, directly or indirectly through intermediate Persons, to a Special Purpose Subsidiary, in one or more related transactions, of Inventory (or rights therein) for Fair Market Value in transactions intended to constitute (and opined by nationally-recognized outside legal counsel in connection therewith to constitute) true sales and/or true contributions to such Special Purpose Subsidiary (or an intermediate Special Purpose Subsidiary) and (y) the provision of financing primarily secured by the Inventory (or rights therein) so sold, contributed and/or transferred.
Inventory Financing has the meaning assigned thereto in the Recitals of this Agreement.
Inventory Financing means positions where commodities were sold forward and the financing costs were fixed until the date of the forward sale;
Inventory Financing means advancing the purchase price of the Vehicles directly to the Vehicle Sellers, advancing funds to other third parties who are not Vehicle Sellers or loaning money directly to RMBL Missouri for Vehicles purchased from Vehicle Sellers by RMBL Missouri. “Vehicle Seller” means manufacturer, distributor, dealers, auctioneer, merchant, customer, broker, seller, or other supplier. “Vehicles” means new and used automobiles, trucks, cars, vans, chassis, buses, trailers, motor homes, recreational vehicles, towable recreational vehicles, motorcycles, all-terrain vehicles, snowmobiles, motorized carts, motor vehicles, other vehicles and/or campers (together with all accessories, accessions, additions and attachments to such vehicles). Parent All of the following described property in which Parent now or hereafter acquires an interest, wherever located, in whatever form: all inventory; equipment; fixtures; accounts, including factory open accounts; accounts with banks and other financial institutions; cash and cash equivalents; general intangibles; all documents; instruments; investment property; and chattel paper.