Availability Fee. For each calendar quarter beginning with the fourth quarter of 2023 (i.e., Effective Date through December 31, 2023), Carvana will pay an “Availability Fee” equal to [***] basis points times the difference between the average outstanding floorplan balance for such quarter and the Credit Line. The Availability Fee will be calculated by the Ally Parties promptly after the end of each quarter and will be due and payable no later than the end of the month immediately following the end of such quarter.
Appears in 1 contract
Sources: Inventory Financing and Security Agreement (Carvana Co.)
Availability Fee. For each calendar quarter beginning with the fourth second quarter of 2023 2025 (i.e., Effective Date April 1, 2025 through December 31June 30, 20232025), Carvana will pay an “Availability Fee” equal to [***] basis points times the difference between the average outstanding floorplan balance for such quarter and the Credit Line. The Availability Fee will be calculated by the Ally Parties promptly after the end of each quarter and will be due and payable no later than the end of the month immediately following the end of such quarter.
Appears in 1 contract
Sources: Inventory Financing and Security Agreement (Carvana Co.)