Used Vehicle Floorplan Advance definition

Used Vehicle Floorplan Advance means a borrowing consisting of the Used Vehicle Floorplan Loans to be made by the Lenders on any date.
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Used Vehicle Floorplan Advance means a borrowing consisting of the Used Vehicle Floorplan Loans to be made by the Lenders on any date. “Used Vehicle Floorplan Borrower” means the Company, in its capacity as an obligor on the Used Vehicle Floorplan Obligations which relate to the credit facilities described in Sections 3.1 and 3.2. “Used Vehicle Floorplan Borrowing Rate” means the sum of (a) Adjusted Daily Simple SOFR, Adjusted Term SOFR or the Term SOFR Alternative Rate, as designated by the Company from time to time, plus (b) the Used Vehicle Floorplan Margin. “Used Vehicle Floorplan Commitment” means for each Lender, the obligation of such Lender to make Used Vehicle Floorplan Loans to the Used Vehicle Floorplan Borrower and to participate in Used Vehicle Swing Line Loans in an aggregate amount not exceeding the amount set forth on Schedule 1, as such amount may be modified as a result of any assignment or as otherwise modified from time to time pursuant to Section 6.17 or the other provisions hereof. “Used Vehicle Floorplan Commitment Fee” has the meaning set forth in Section 3.1.7. “Used Vehicle Floorplan Commitment Fee Rate” has the meaning set forth in the Pricing Schedule. “Used Vehicle Floorplan DDA” has the meaning set forth in Section 3.2.7(b). “Used Vehicle Floorplan Loan” has the meaning set forth in Section 3.1.1. “Used Vehicle Floorplan Margin” has the meaning set forth in the Pricing Schedule. “Used Vehicle Floorplan Obligations” means all present and future Used Vehicle Floorplan Loans, Used Vehicle Swing Line Loans, and other debts, liabilities, obligations, reimbursements, indemnities, covenants, warranties, duties and obligations relating thereto of the Used Vehicle Floorplan Borrower to the Agent and the Lenders under this Agreement, and the other Loan Documents, whether now or hereafter existing or incurred, whether liquidated or unliquidated, whether absolute or contingent, and including without limitation principal, interest, fees, Attorney Costs, expenses and charges relating to any of the foregoing. 47 115525625.4 0063724-00082
Sample 1
Used Vehicle Floorplan Advance means a borrowing consisting of the Used Vehicle Floorplan Loans to be made by the Lenders on any date. “Used Vehicle Floorplan Borrower” means the Company, in its capacity as an obligor on the Used Vehicle Floorplan Obligations which relate to the credit facilities described in Sections 3.1 and 3.2. “Used Vehicle Floorplan Borrowing Rate” means the sum of (a) Adjusted Daily Simple SOFR, Adjusted Term SOFR or the Term SOFR Alternative Rate, as designated by the Company from time to time, plus (b) the Used Vehicle Floorplan Margin. “Used Vehicle Floorplan Commitment” means for each Lender, the obligation of such Lender to make Used Vehicle Floorplan Loans to the Used Vehicle Floorplan Borrower and to participate in Used Vehicle Swing Line Loans in an aggregate amount not exceeding the amount set forth on Schedule 1, as such amount may be modified as a result of any assignment or as otherwise modified from time to time pursuant to Section 6.17 or the other provisions hereof. 47 13483422v8
Sample 1

Examples of Used Vehicle Floorplan Advance in a sentence

  • Whenever the Used Vehicle Floorplan Borrower wishes to obtain a Used Vehicle Floorplan Advance, it shall give Agent irrevocable notice thereof no later than 11:00 a.m. (Pacific Time) at least one Business Day prior to the date of the requested borrowing.

  • Each Used Vehicle Floorplan Advance shall be in a minimum amount of $1,000,000.00 and in multiples of $100,000.00 above such amount.

  • The Agent will promptly notify each Lender of its receipt of any request for a Used Vehicle Floorplan Advance and of the amount of its Pro Rata Share of such Used Vehicle Floorplan Advance.

  • Agent will promptly notify each Lender of its receipt of any request for a Used Vehicle Floorplan Advance and of the amount of its Pro Rata Share of such Used Vehicle Floorplan Advance.

  • If the Agent notifies the Lenders of a request for a Used Vehicle Floorplan Advance by 1:00 p.m. (Pacific Time) on any Business Day, each Lender will deliver its Pro Rata Share of such Used Vehicle Floorplan Advance to the Agent by 11:00 a.m. (Pacific Time) on the Business Day after such notification.

  • If the Agent notifies the Lenders of a request for a Used Vehicle Floorplan Advance by 1:00 p.m. (Pacific Time) on any Business Day, each Lender will deliver its Pro Rata Share of such Used Vehicle Floorplan Advance to Agent by 11:00 a.m. (Pacific Time) on the Business Day after such notification.

  • Each Used Vehicle Floorplan Advance shall be in a minimum amount of $1,000,000.001,000,000 and in multiples of $100,000.00100,000 above such amount.

Related to Used Vehicle Floorplan Advance

  • Equipment Advance is defined in Section 2.1.1.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Lender pursuant to Section 2.02(b).

  • Liquidity Amount means, as of any date of determination, the sum of (a) the Aggregate Borrowing Availability as of such date and (b) the Unrestricted Cash Amount as of such date.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.

  • Liquidity Advance means a loan, advance, purchase or other similar action made by a Liquidity Provider pursuant to a Liquidity Agreement.

  • Loan Repayment Date means the date a Loan is scheduled to be repaid, as confirmed pursuant to Clause 5.3(c) of this Agreement, which shall in no event be later than the earlier of (i) the date falling six (6) Months from the relevant Utilisation Date and (ii) the Facility Repayment Date.

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Revolving Advance has the meaning given in Section 2.1.

  • Applicable Prepayment Percentage means, at any time, for purposes of Section 4.02(e) and the definition of “Retained Excess Cash Flow Amount,” 50%; provided that, so long as no Default or Event of Default is then in existence, if the Total Leverage Ratio is less than 3.50:1.00 as at the last day of the most recently ended Fiscal Year of the U.S. Borrower (as set forth in an officer’s certificate delivered pursuant to Section 8.01(d) for the Fiscal Year of the U.S. Borrower then last ended), the Applicable Prepayment Percentage shall instead be 0%.

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Notice of Revolving Credit Advance has the meaning ascribed to it in Section 1.1(a).

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Prepayment Percentage As of the Closing Date, approximately 0%, and thereafter, with respect to any Distribution Date, the excess of 100% over the Senior Prepayment Percentage.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.