Inventory lender means a third party engaged in the business of providing financing to a used or secondhand vehicle dealer for the acquisition or retention of vehicles that are held for sale or lease by the used or secondhand vehicle dealer in the ordinary course of the used or secondhand vehicle dealer's business and has filed a financing statement with the secretary of state evidencing the third party's security interest in the used or secondhand vehicle dealer's inventory and the proceeds of that inventory.
Inventory lender shall have the meaning set forth in the preamble hereto.
Inventory lender means any lender that shall finance any Originator's inventory purchases and obtain a lien upon such inventory.
Examples of Inventory lender in a sentence
Since the Inventory lender FCM lent money to Debtor to buy and sell inventory, Debtor believes the sale of the Inventory pursuant to the Liquidation Agreement allows the sale of the Inventory free and clear of any interest.