Common use of Interim Floorplan Loan Advances Clause in Contracts

Interim Floorplan Loan Advances. To reduce the frequency of fundings of Floorplan Loan Advances by Lenders, but subject to the limitations in Section 3.2.4 and elsewhere herein, CPC may in its absolute discretion make Interim Floorplan Loan Advances for the account of and benefit of Reseller with respect to an Approval issued by CPC from time to time from the Effective Date, to the effective date of any termination of the Aggregate Floorplan Loan Facility. From and after the date on which Administrative Agents have actual knowledge of an Event of Default under Section 17.1.1 or under Section 17.1.11, no further Interim Floorplan Loan Advances shall be made. From and after the date on which Administrative Agents have actual knowledge of any other Event of Default, at the sole discretion of Administrative Agents, no further Interim Floorplan Loan Advances shall be made. Subject to the limitations in Section 3.2.4 and elsewhere herein, payments and prepayments that are applied to reduce the Interim Floorplan Loan may be reborrowed for new Inventory purchases through Interim Floorplan Loan Advances. The Interim Floorplan Loan Facility will not be evidenced by promissory notes.

Interim Floorplan Loan Advances. To In order to reduce the frequency of fundings of Floorplan Loan Advances by Lenders, but subject to the limitations in Section 3.2.4 3.2.3 and elsewhere herein, CPC Administrative Agent may in its absolute discretion make Interim Floorplan Loan Advances for the account of and benefit of Reseller Borrower with respect to an Approval issued by CPC Administrative Agent from time to time from the Effective Date, Date to the effective date of any termination of the Aggregate Floorplan Loan FacilityMaturity Date. From and after the date on which the Administrative Agents have Agent has actual knowledge of an Event of Default under Section 17.1.1 16.1.1 or under Section 17.1.1116.1.12, no further Interim Floorplan Loan Advances shall be made. From and after the date on which Administrative Agents have Agent has actual knowledge of any other Event of Default, at the sole discretion of Administrative AgentsAgent, no further Interim Floorplan Loan Advances shall be made. Subject to the limitations in Section 3.2.4 3.2.3 and elsewhere herein, payments and prepayments that are applied to reduce the Interim Floorplan Loan may be reborrowed for new Inventory purchases through Interim Floorplan Loan Advances. The Interim Floorplan Loan Facility will is not be evidenced by promissory notesa commitment to lend or advance funds, but is a discretionary facility.

Interim Floorplan Loan Advances. To In order to reduce the frequency of fundings of Floorplan Loan Advances by Lenders, but subject to the limitations in Section 3.2.4 3.3.3 and elsewhere herein, CPC Administrative Agent may in its absolute discretion make Interim Floorplan Loan Advances for the account of and benefit of Reseller Borrower with respect to an Approval issued by CPC Administrative Agent from time to time from the Effective Date, Date to the effective date of any termination of the Aggregate Floorplan Loan FacilityMaturity Date. From and after the date on which the Administrative Agents have Agent has actual knowledge of an Event of Default under Section 17.1.1 16.1.1 or under Section 17.1.1116.1.12, no further Interim Floorplan Loan Advances shall be made. From and after the date on which Administrative Agents have Agent has actual knowledge of any other Event of Default, at the sole discretion of Administrative AgentsAgent, no further Interim Floorplan Loan Advances shall be made. Subject to the limitations in Section 3.2.4 3.3.3 and elsewhere herein, payments and prepayments that are applied to reduce the Interim Floorplan Loan may be reborrowed for new Inventory purchases through Interim Floorplan Loan Advances. The Interim Floorplan Loan Facility will is not be evidenced by promissory notesa commitment to lend or advance funds, but is a discretionary facility.