Common use of Used Vehicles Clause in Contracts

Used Vehicles. Principal curtailments (repayments) relating to Floor Plan Loans for Eligible Used Vehicles shall be due as follows: (i) The entire balance owed on a Floor Plan Loan made as to any Eligible Used Vehicle shall be due upon the earliest of (A) three Business Days after the receipt of proceeds from the sale of a such Used Vehicle, (B) ten Business Days after the sale of such ​ ​ Used Vehicle, (C) 24 hours after such Used Vehicle ceases, for any reason, to qualify as an Eligible Used Vehicle, or (D) Applicable Curtailment Date 180; (ii) For any Eligible Used Vehicle, if not previously sold or otherwise disposed of, 2% of the original principal amount of the Floor Plan Loan made as to such Used Vehicle will be due and payable on the 15th day of each month, commencing on (and including) Applicable Curtailment Date 90 and continuing thereafter through (and including) Applicable Curtailment Date 150.

Used Vehicles. Principal curtailments (repayments) relating to Floor Plan Loans for Eligible Used Vehicles shall be due as follows: (i) The entire balance owed on a Floor Plan Loan made as to any Eligible Used Vehicle shall be due upon the earliest of (A) three Business Days after the receipt of proceeds from the sale of a such Used Vehicle, (B) ten Business Days after the sale of such ​ ​ Used Vehicle, (C) 24 hours after such Used Vehicle ceases, for any reason, to qualify as an Eligible Used Vehicle, or (D) Applicable Curtailment Date 180; (ii) For any Eligible Used Vehicle, if not previously sold or otherwise disposed of, 2% of the original principal amount of the Floor Plan Loan made as to such Used Vehicle will be due and payable on the 15th day of each month, commencing on (and including) Applicable Curtailment Date 90 and continuing thereafter through (and including) Applicable Curtailment Date 150.