Vendor Credits definition

Vendor Credits means all of each Dealer’s rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due a Dealer from a Vendor.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Vendor Credits shall have the meaning set forth in Section 5(f) hereof.

Vendor Credits means all of a Reseller’s rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due a Reseller from a Vendor. Vendors has the meaning set forth in Section 1. ▇▇▇▇▇ Fargo means ▇▇▇▇▇ Fargo Bank, National Association.

Examples of Vendor Credits in a sentence

• At CDF’s request, or without request in the event of an Automatic Default, Dealer shall pay all Vendor Credits to CDF as soon as the same are received for application to the Obligations.

• At Agent’s request, or without request in the event of an Automatic Default, each Dealer shall pay all Vendor Credits to Agent as soon as the same are received for application to the Obligations.

• In the event that Approved Vendors fail to pay Vendor Credits to Administrative Agents as so directed, Resellers shall, promptly upon receipt, pay all Vendor Credits to Administrative Agents for application to Loan Obligations.

• Resellers authorize CPC to collect Vendor Credits directly from Vendors and, upon request of CPC, shall instruct Vendors to pay CPC directly.

• At Administrative Agents’ request, or without request if an Event of Default has occurred, Resellers shall instruct Approved Vendors to pay Vendor Credits directly to Administrative Agents for application to the Loan Obligations.

• At Agent's request, or without request in the event of an Automatic Default, each Dealer shall pay all Vendor Credits to Agent as soon as the same are received for application to the Obligations.

• At CDF’s request, or without request in the event of an Automatic Default, each Dealer shall pay all Vendor Credits to CDF as soon as the same are received for application to the Obligations.

• Without limiting the foregoing, the Collateral includes Dealer’s right to all Vendor Credits (as defined below).

• Reseller authorizes CPC to collect Vendor Credits directly from Vendors and, upon request of CPC, shall instruct Vendors to pay CPC directly.

• Vendor Credits shall be paid and applied in accordance with Section 2.26(i) of the Credit Agreement.

More Definitions of Vendor Credits

Vendor Credits means all Floorplan Vendor Credits (as such term is defined in the Credit Agreement).

Vendor Credits shall have the meaning set forth in Section 5(f) hereof. “Vendors” shall have the meaning set forth in Section 2 hereof.

Vendor Credits means any Credit Party’s rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due to such Credit Party from a supplier of Inventory.

Vendor Credits means all of Guarantor's rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due Guarantor from a manufacturer, distributor or other seller of inventory ("Vendor"). For purposes of this Section 4 only, capitalized terms used in this Section 4, which are not otherwise defined, shall have the meanings given to them in Article 9 of the New York Uniform Commercial Code.”

Vendor Credits means all of a Reseller’s rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due such Reseller from an Approved Vendor. VENDOR TERMINATION – is defined in Section 3.1.3(i). VENDOR TRADE PROGRAMS – means those certain inventory finance transactions from time to time entered into by the Parent Guarantor or its Affiliates with Castle Pines Capital LLC or its Affiliates, IBM Credit Corporation or its Affiliates, Hewlett Packard Corporation or its Affiliates or any other Person reasonably acceptable to the Administrative Agents. All documents designated on that certain Closing Checklist previously delivered to Resellers by Administrative Agents which includes, but is not limited to, the following documents: UCC-1 Financing Statement(s) Officer’s Certificates for Resellers, with organizational documents, resolutions and current certificates of status from the secretary of state (or other applicable Governmental Authority) of such Resellers’ jurisdiction of organization and those foreign jurisdiction where failure to be in good standing would reasonably be expected to result in a Material Adverse Effect Officer’s Certificates for other Loan Parties, with organizational documents, resolutions and current certificates of status from the secretary of state (or other applicable Governmental Authority) of such Loan Parties’ jurisdiction of organization Current UCC Searches for each Loan Party To be in form substantially similar to the form of Compliance Certificate delivered to the Administrative Agents under the Existing Credit Agreement. Reference is made to the Amended and Restated Credit Agreement effective April 26, 2012 among Calence, LLC, a Delaware limited liability company, Insight Direct USA, Inc., an Illinois corporation, and Insight Public Sector, Inc., an Illinois corporation (each a “Reseller” and collectively, the “Resellers”), ▇▇▇▇▇ Fargo Capital Finance, LLC, as an Administrative Agent, as Syndication Agent and as Collateral Agent and Castle Pines Capital LLC, for itself as a Lender and as an Administrative Agent, and the other Lenders party thereto, as it may be amended, modified, amended and restated, restated or replaced from time to time (the “Credit Agreement”). Unless otherwise defined herein, capitalized terms used in this Assignment and Assumption have the meanings defined in the Credit Agreement. The “Assignor” and the “Assignee” referred to on Sc...

Vendor Credits means all of Dealer’s rights to any price protection payments, rebates, discounts, credits, factory holdbacks, incentive payments and other amounts which at any time are due to Dealer from any Vendor.