New motor vehicles definition

New motor vehicles means all motor vehicles, except motorcycles and used motor vehicles, of a type required to be registered under the provisions of this chapter.

New motor vehicles means all motor vehicles, except

New motor vehicles means all motor vehicles, except motorcycles and used motor

Examples of New motor vehicles in a sentence

• Except as provided in paragraph (d) of definition of “Eligible Used Motor Vehicle”, export any New Motor Vehicles and Used Motor Vehicles being financed by any of the Credit Facilities outside of Canada unless, the financing related to such New Motor Vehicle or Used Motor Vehicle has been repaid prior to or concurrently with its export.

• Notwithstanding the foregoing, 100% of the Net Proceeds from the Disposition of any New Motor Vehicles (regardless of the amount) shall be prepaid to reduce the outstanding Loans under the Wholesale Flooring Facility in accordance with Section 2.2. (2) Negative Pledge.

• Borrowings under the Wholesale Flooring Facility shall be used by the applicable Wholesale Flooring Borrower to finance the purchase of New Motor Vehicles in which the Administrative Agent has a perfected first priority Lien.

• CREDIT NUMBER 02: AUTHORIZED LIMIT: $300,000,000 TYPE Flooring – New & Used PURPOSE To finance purchases by each of the Borrowers below (the “Credit 02 Borrowers”) from Audi, BMW, McLaren, Porsche, Mercedes-Benz, Subaru and Volkswagen of New Motor Vehicles and any other New Motor Vehicles from manufacturers for which a Credit 02 Borrower obtains distribution rights, as well as CAP Vehicles and Program Vehicles and to finance Used Motor Vehicles for primarily domestic sale.

• Notwithstanding the foregoing, 100% of the Net Proceeds of any Insurance Payments relating to New Motor Vehicles shall be prepaid to reduce the outstanding Loans under the Wholesale Flooring Facility.

• No later than five (5) days of any such request, the applicable Borrower shall deliver to the Administrative Agent all purchase documentation (including any conditional sales contract) in respect of New Motor Vehicles which shall include the model, year, serial number and odometer reading of the New Motor Vehicles to be financed by such Borrowing.

More Definitions of New motor vehicles

New motor vehicles means motor vehicles of the current model year, immediate past model year, or the next model year which have not been sold or registered by the manufacturer or dealer;

New motor vehicles means previously untitled _____________ motor vehicles or such other manufacturers that may be approved by the Bank in writing from time to time.,

New motor vehicles means new passenger cars, motorcycles and Light Duty Trucks as well as CAP vehicles and Program Vehicles supplied to Wholesale Flooring Borrowers by manufacturers acceptable to the Administrative Agent from the current and preceding one model year with an odometer reading of 24,000 km or less per model year, for domestic sale by Wholesale Flooring Borrowers. (157) “Non-Designated Subsidiary” means each Subsidiary, direct or indirect, of a Borrower that is not a Designated Subsidiary or otherwise an Obligor hereunder. (158) “Non-Formula Amount” means $25,000,000. (159) “Obligations” means (a) all loans, advances, debts, liabilities and obligations for the performance of covenants, tasks or duties or for the payment of monetary amounts (whether or not performance is then required or contingent, or those amounts are liquidated or determinable) owing by the Borrowers to the Administrative Agent, the L/C Issuer or any Lender under any or all of the Loan Documents and all covenants and duties regarding those amounts, of any kind or nature, present or future, whether or not evidenced by any agreement or other instrument, owing under any or all of the Loan Documents including all obligations owed by the Borrowers to the Administrative Agent, the L/C Issuer and the Lenders under the Credit Facilities and (b) Other Secured Obligations. (160) “Obligors” means, collectively, the Borrowers, the General Partners and any other Designated Subsidiary of the Borrowers that becomes a Borrower under this Agreement from time to time in accordance with Section 10.1(15) (and includes, if applicable, its General Partner), and their respective successors and permitted assigns. (161) “OEM” shall mean a vehicle manufacturer or distributor that engages in the wholesale sale of new motor vehicles to any Borrower pursuant to an OEM Agreement. (162) “OEM Agreement” shall mean each OEM dealer sales and service agreement or “franchise” or similar agreement giving any Borrower the right to sell new OEM vehicles, each as amended, supplemented, restated or replaced from time to time. (163) “Officer’s Certificate” means a certificate of a Responsible Officer substantially in the form attached hereto as Schedule 1.1(163) . (164) “Other Secured Obligations” means the present and future debts, liabilities and obligations of the Borrowers or any other Obligor to any Lender under or in connection with, (a) the Credit Facilities Hedge and other Hedge Contracts (including all Hedging Liabilities in ...