Pro Rata Share of Floor Plan Loan Commitments definition

Pro Rata Share of Floor Plan Loan Commitments means, at any time, with respect to any Floor Plan Lender, the percentage corresponding to a fraction, the numerator of which shall be the amount of the Floor Plan Loan Commitment of such Lender and the denominator of which shall be the Total Floor Plan Loan Commitment; provided, that in the case of Section 5.20 when a Defaulting Lender shall exist, such Defaulting Lender’s Floor Plan Loan Commitment shall be disregarded for purposes of determining the Total Floor Plan Loan Commitment.
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Examples of Pro Rata Share of Floor Plan Loan Commitments in a sentence

  • In no event whatsoever shall any outstanding Swing Line Loan be deemed to reduce, modify or affect any Lender’s obligation to make Floor Plan Loans based upon its Pro Rata Share of Floor Plan Loan Commitments.

  • Such Loans shall accrue interest in favor of the Floor Plan Lenders in accordance with each Floor Plan Lender’s respective Pro Rata Share of Floor Plan Loan Commitments at the Comerica Prime-based Rate.

  • In no event whatsoever shall any outstanding Swing Line Loan be deemed to reduce, modify or affect any Bank's obligation to make Floor Plan Loans based upon its Pro Rata Share of Floor Plan Loan Commitments.

  • In no event whatsoever shall any outstanding Swing Line Loan be deemed to reduce, modify or affect any Lender's obligation to make Floor Plan Loans based upon its Pro Rata Share of Floor Plan Loan Commitments.

  • Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definitions of Pro Rata Share of Acquisition Loan Commitments, Pro Rata Share of Floor Plan Loan Commitments, Pro Rata Share of Total Commitments and Required Lenders and the last sentence of Section 13.7(b).

  • Immediately upon the issuance or entering into by the Floor Plan Agent of each Drafting Agreement, each Floor Plan Lender hereby irrevocably and unconditionally agrees to, and does hereby, purchase from the Floor Plan Agent a participation in such Drafting Agreement in an amount equal to the product of (i) the Pro Rata Share of Floor Plan Loan Commitments of such Floor Plan Lender and (ii) the amount of the Draft presented by a Manufacturer under the Drafting Agreement.

  • Such Defaulting Xxxxxx’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definitions of Pro Rata Share of Acquisition Loan Commitments, Pro Rata Share of Floor Plan Loan Commitments, Pro Rata Share of Total Commitments and Required Lenders and the last sentence of Section 13.7(b).

  • Except as otherwise provided herein, each Borrowing, each payment or prepayment of principal of the Notes, each payment of interest on such Notes, each other reduction of the principal or interest outstanding under such Notes, however achieved, each payment of the Commitment Fees and each reduction of the Commitments shall be made, as applicable, in accordance with each Lender's respective (i) Pro Rata Share of Floor Plan Loan Commitments and (ii) Pro Rata Share of Acquisition Loan Commitments.

  • Such Defaulting Lender’s xxxxx to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definitions of Pro Rata Share of Acquisition Loan Commitments, Pro Rata Share of Floor Plan Loan Commitments, Pro Rata Share of Total Commitments and Required Lenders and the last sentence of Section 13.7(b).

  • Except as otherwise provided herein, each Borrowing, each payment or prepayment of principal of the Notes, each payment of interest on such Notes, each other reduction of the principal or interest outstanding under such Notes, however achieved, each payment of the Commitment Fees and each reduction of the Commitments shall be made, as applicable, in accordance with each Lender's respective (i) Pro Rata Share of Floor Plan Loan Commitments and (ii) Pro Rata Share of Revolving Credit Loan Commitments.

Related to Pro Rata Share of Floor Plan Loan Commitments

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Term Loan Commitments means the aggregate amount of such commitments of all Lenders.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Revolving Commitment Percentage means, for each Lender, the percentage identified as its Revolving Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6(c).

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Aggregate Revolving Commitment means the aggregate of the Revolving Commitments of all of the Revolving Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $1,000,000,000.

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • New Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.