Common use of Floorplan Loans Clause in Contracts

Floorplan Loans. Each Floorplan Lender severally agrees to make loans (each such loan, a “Floorplan Loan”) to Borrower, from time to time on any Business Day during the Floorplan Availability Period, in an aggregate outstanding amount not to exceed at any time such Lender’s Floorplan Commitment, provided that, after giving effect to any Floorplan Borrowing: (i) the Total Floorplan Outstandings shall not exceed Floorplan Availability; and (ii) the sum of (x) aggregate Outstanding Amount of the Floorplan Loans of any Floorplan Lender plus (y) such Lender’s Floorplan Percentage Share, multiplied by the Outstanding Amount of all Swing Line Loans and Floorplan L/C Obligations shall not exceed such Lender’s Floorplan Commitment. Within the limits of each Floorplan Lender’s Floorplan Commitment, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Floorplan Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

Floorplan Loans. Each Floorplan Lender severally agrees to make loans (each such loan, a “Floorplan Loan”) to Borrower, from time to time on any Business Day during the Floorplan Availability Period, in an aggregate outstanding amount not to exceed at any time such Lender’s Floorplan Commitment, provided that, after giving effect to any Floorplan Borrowing: (i) the Total Floorplan Outstandings shall not exceed Floorplan Availability; and (ii) the sum of (x) aggregate Outstanding Amount of the Floorplan Loans of any Floorplan Lender plus (y) such Lender’s Floorplan Percentage Share, Share multiplied by the Outstanding Amount of all Swing Line Loans and Floorplan L/C Obligations shall not exceed such Lender’s Floorplan CommitmentCommitment . Within the limits of each Floorplan Lender’s Floorplan Commitment, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Floorplan Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.