NAO Business definition
NAO Business means the business and operations as described in Section III of that certain Confidential Information Package regarding the Company, dated as of November 12, 2005 (as reproduced in Exhibit B), including (i) the Company’s United States and Canadian auto finance operations as well as Nuvell, (ii) financial services and products provided to automotive dealerships and retail automotive consumers, including prime and non-prime retail and lease financing, wholesale/floorplan financing, dealer loans, servicing (including Semperian), and remarketing (including SmartAuction), and (iii) all employees, systems, property, equipment, intellectual property, and other tangible and intangible assets primarily related to the businesses described in clauses (i) and (ii) above, in each case, as such businesses and operations may be modified or further develop or evolve following the Effective Date.
NAO Business means the North American auto finance business and operations of the FinanceCo Companies as described in Section III of the Confidential Information Package dated as of November 12, 2005, including the following: (i) the FinanceCo Companies' United States and Canadian auto finance operation (including all of the business and operations of GMAC Canada, Nuvell, Semperian, and Basic Credit); (ii) financial services and products provided to automotive dealerships and retail automotive consumers, including prime and sub-prime retail and lease financing, wholesale/floorplan financing, dealer loans, servicing (including Semperian) and remarketing (including SmartAuction); and (iii) all extensions and developments of such business and operations from November 12, 2005 until the earlier to occur of the Call Option Termination Date and the Call Option Closing Date.