Common use of Accounts Receivable Facility Clause in Contracts

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Million Dollars ($35,000,000.00); provided, however, that at no time will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00). Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrant." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirty-Five Million Dollars ($35,000,000.00); provided, however, that at no time will the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00). With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced.

Appears in 1 contract

Samples: Agreement for Wholesale (Emtec Inc/Nj)

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Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00); provided, however, that that: (i) at no time during the Temporary Increase Period (as defined below) will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than from June 19, 2007 through September 30, 2007 (“Temporary Increase Period”) will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed CDF's decision to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF advance funds will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by binding until the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrantfunds are actually advanced." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirtyof: (a) One Hundred Million Dollars ($100,000,000.00) during the Temporary Increase Period, and (b) at all times other than the Temporary Increase Period, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00); provided, however, that (i) at no time during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced. Dealer waives notice of CDF's acceptance of this Amendment. All other terms and provisions of the AWF and BFA, to the extent not inconsistent with the foregoing, are ratified and remain unchanged and in full force and effect.

Appears in 1 contract

Samples: Agreement for Wholesale Financing (Eplus Inc)

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00) (the “Accounts Receivable Facility Limit”); provided, however, that at no time will (i) the principal amount outstanding under Aggregate Accounts Receivable Outstandings exceed the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in Limit or (ii) the aggregate, Thirty-Five Million Dollars ($35,000,000.00)Aggregate Outstandings exceed the Aggregate Facility Limit. Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrant." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirty-Five Million Dollars ($35,000,000.00); provided, however, that at no time will the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00). With respect to the AWF, CDF's ’s decision to advance funds will not be binding until the funds are actually advanced. In addition, subject to the terms of the Agreement for Wholesale Financing, CDF agrees to provide to Dealer an inventory floorplan credit facility of (i) to and until October 31, 2017, Three Hundred Twenty-Five Million Dollars ($325,000,000.00), (ii) on and after November 1, 2017, except during a Temporary Uplift Period, Two Hundred Fifty Million Dollars ($250,000,000.00), and (iii) during any Temporary Uplift Period, Three Hundred Twenty Five Million Dollars ($325,000,000.00); provided, however, that at no time will the Aggregate Outstandings exceed the Aggregate Facility Limit. CDF’s decision to advance funds will not be binding until the funds are actually advanced. If, at any time, the Aggregate Accounts Receivable Outstandings exceed the Accounts Receivable Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) Aggregate Accounts Receivable Outstandings and (ii) the Accounts Receivable Facility Limit. If, at any time, the Aggregate Outstandings exceed the Aggregate Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) Aggregate Outstandings and (ii) the Aggregate Facility Limit.

Appears in 1 contract

Samples: Business Financing Agreement (Eplus Inc)

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five of: One Hundred Million Dollars ($35,000,000.00100,000,000.00) (the “Accounts Receivable Facility Limit”); provided, however, that at no time will (i) the principal amount outstanding under Aggregate Accounts Receivable Outstandings exceed the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in Limit or (ii) the aggregate, Thirty-Five Million Dollars ($35,000,000.00)Aggregate Outstandings exceed the Aggregate Facility Limit. Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrant." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirty-Five Million Dollars ($35,000,000.00); provided, however, that at no time will the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00). With respect to the AWF, CDF's ’s decision to advance funds will not be binding until the funds are actually advanced. In addition, subject to the terms of the Agreement for Wholesale Financing, CDF agrees to provide to Dealer an inventory floorplan credit facility of (i) except during a Temporary Uplift Period, Two Hundred Seventy Five Million Dollars ($275,000,000.00) and (ii) during any Temporary Uplift Period, Three Hundred Fifty Million Dollars ($350,000,000.00); provided, however, that at no time will the Aggregate Outstandings exceed the Aggregate Facility Limit. CDF’s decision to advance funds will not be binding until the funds are actually advanced. If, at any time, the Aggregate Accounts Receivable Outstandings exceed the Accounts Receivable Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) Aggregate Accounts Receivable Outstandings and (ii) the Accounts Receivable Facility Limit. If, at any time, the Aggregate Outstandings exceed the Aggregate Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) Aggregate Outstandings and (ii) the Aggregate Facility Limit.

Appears in 1 contract

Samples: Business Financing Agreement (Eplus Inc)

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00); provided, however, that that: (i) at no time during the Temporary Increase Period (as defined below) will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than from June 19, 2007 through August 15, 2007 (“Temporary Increase Period”) will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed CDF's decision to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF advance funds will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by binding until the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrantfunds are actually advanced." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirtyof: (a) One Hundred Million Dollars ($100,000,000.00) during the Temporary Increase Period, and (b) at all times other than the Temporary Increase Period, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00); provided, however, that (i) at no time during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced. Dealer waives notice of CDF's acceptance of this Amendment. All other terms and provisions of the AWF and BFA, to the extent not inconsistent with the foregoing, are ratified and remain unchanged and in full force and effect.

Appears in 1 contract

Samples: Agreement for Wholesale Financing (Eplus Inc)

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Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00); provided, however, that at no time will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00)the Aggregate Facility Limit. Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed CDF's decision to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF advance funds will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by binding until the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrant." funds are actually advanced. In addition, subject to the terms of the AWFAmended and Restated Agreement for Wholesale Financing between CDF and Dealer dated July 23, 2012, as amended from time to time, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirty(i) to and until October 31, 2017, Three Hundred Twenty-Five Million Dollars ($35,000,000.00325,000,000.00), (ii) on and after November 1, 2017, except during a Temporary Uplift Period, Two Hundred Fifty Million Dollars ($250,000,000.00), and (iii) during any Temporary Uplift Period, Three Hundred Twenty Five Million Dollars ($325,000,000.00); provided, however, that at no time will the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00)the Aggregate Facility Limit. With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced. If, at any time, the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility exceeds, in the aggregate, the Aggregate Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) the aggregate principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility and (ii) the Aggregate Facility Limit."

Appears in 1 contract

Samples: Business Financing Agreement (Eplus Inc)

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00); provided, however, that that: (i) at no time during the Temporary Increase Period (as defined below) will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than from October 1, 2007 through October 31, 2007 (“Temporary Increase Period”) will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed CDF's decision to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF advance funds will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by binding until the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrantfunds are actually advanced." In addition, subject to the terms of the AWF, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirtyof: (a) One Hundred Million Dollars ($100,000,000.00) during the Temporary Increase Period, and (b) at all times other than the Temporary Increase Period, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00); provided, however, that (i) at no time during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Facility exceed, in the aggregate, ThirtyOne Hundred Million Dollars ($100,000,000.00), and (ii) at no time other than during the Temporary Increase Period will the principal amount outstanding under the Accounts Receivable Facility and Dealer’s inventory floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five Million Dollars ($35,000,000.0085,000,000.00). With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced. Dealer waives notice of CDF's acceptance of this Amendment. All other terms and provisions of the AWF and BFA, to the extent not inconsistent with the foregoing, are ratified and remain unchanged and in full force and effect.

Appears in 1 contract

Samples: Agreement for Wholesale Financing (Eplus Inc)

Accounts Receivable Facility. Subject to the terms of this Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility of Thirty-Five Thirty Million Dollars ($35,000,000.0030,000,000.00); provided, however, that at no time will the principal amount outstanding under the Accounts Receivable Facility and Dealer's inventory floorplan credit facility with CDF exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00)the Aggregate Facility Limit. Each Dealer is part of an integrated family of companies, and, accordingly each Dealer has requested that CDF extend one common credit facility instead of separate credit facilities, and CDF has agreed CDF's decision to extend such a common credit facility. Each Dealer has agreed to share with each other such common credit facility with CDF for working capital advances. Each Dealer acknowledges that CDF advance funds will be lending against, and relying on a lien upon, all of the Collateral (as defined below) even though the proceeds of any particular loan made hereunder may not be advanced directly to such Dealer, and that such Dealer will nevertheless benefit by binding until the making of all such loans by CDF and the availability of a single credit facility of a size greater than either could independently warrant." funds are actually advanced. In addition, subject to the terms of the AWFAmended and Restated Agreement for Wholesale Financing between CDF and Dealer dated July 23, 2012, as amended from time to time, CDF agrees to provide to Dealer an inventory floorplan credit facility of Thirty-Five (i) to and until October 31, 2016, Three Hundred Million Dollars ($35,000,000.00300,000,000.00) and (ii) after October 31, 2016, Two Hundred Fifty Million Dollars ($250,000,000.00); provided, however, that at no time will the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility exceed, in the aggregate, Thirty-Five Million Dollars ($35,000,000.00)the Aggregate Facility Limit. With respect to the AWF, CDF's decision to advance funds will not be binding until the funds are actually advanced. If, at any time, the principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility exceeds, in the aggregate, the Aggregate Facility Limit, Dealer will immediately pay to CDF an amount not less than the difference between (i) the aggregate principal amount outstanding under Dealer's inventory floorplan credit facility with CDF and Dealer's Accounts Receivable Credit Facility and (ii) the Aggregate Facility Limit."

Appears in 1 contract

Samples: Business Financing Agreement (Eplus Inc)

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