Aggregate Used Vehicle Floorplan Commitment definition

Aggregate Used Vehicle Floorplan Commitment means, at any time, the aggregate of the Used Vehicle Floorplan Commitments of all Lenders at such time; provided that, except as provided in Section 6.12 the Aggregate Used Vehicle Floorplan Commitment shall not at any time be more than $200,000,000.00.
View Source
Aggregate Used Vehicle Floorplan Commitment means an amount equal to $80,000,000.00.
View Source
Aggregate Used Vehicle Floorplan Commitment means, at any time, the aggregate of the Used Vehicle Floorplan Commitments of all Lenders at such time; provided that the Aggregate Used Vehicle Floorplan Commitment shall not at any time be more than 20.00% of the amount of the Aggregate Commitment at such time. “Agreement” has the meaning set forth in the introductory paragraph. “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the highest of (a) the Prime Rate for such day, (b) the sum of the Federal Funds Effective Rate for such day plus .50% per annum and (c) the Eurocurrency RateAdjusted Daily Simple SOFR in effect for such day plus 1.50%, provided that. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate, foror the avoidance of doubt, the 3 110393723.6 0063724-00082 115525625.4 0063724-00082
View Source

Examples of Aggregate Used Vehicle Floorplan Commitment in a sentence

  • The Used Vehicle Floorplan Borrower may from time to time on at least ten (10) Business Day’s prior written notice to the Agent (which shall promptly advise each Lender thereof) permanently reduce the Aggregate Used Vehicle Floorplan Commitment to an amount not less than the then outstanding principal balance of the Used Vehicle Floorplan Loans and Used Vehicle Swing Line Loans.

  • Concurrently with any reduction of the Aggregate Used Vehicle Floorplan Commitment to zero, (a) no further Used Vehicle Floorplan Loans or Used Vehicle Swing Line Loans will be made, and (b) the Used Vehicle Floorplan Borrower shall pay all principal and interest on the Used Vehicle Floorplan Loans and Used Vehicle Swing Line Loans and all fees and other amounts owing to Agent and the Lenders.

  • Concurrently with any reduction of the Aggregate Used Vehicle Floorplan Commitment to zero, (a) no further Used Vehicle Floorplan Loans or Used Vehicle Swing Line Loans will be made, and (b) the Used Vehicle Floorplan Borrower shall pay all principal and interest on the Used Vehicle Floorplan Loans and Used Vehicle Swing Line Loans and all fees and other amounts owing to the Agent and the Lenders.

  • Concurrently with any reduction of the Aggregate Used Vehicle Floorplan Commitment to zero, (a) no further Used Vehicle Floorplan Loans or Used Vehicle Swing Line Loans will be made, and (b) the Used Vehicle Floorplan Borrower shall pay all principal and interest on the Used Vehicle Floorplan Loans and Used Vehicle Swing Line Loans and all fees 70 115525625.4 0063724-00082 and other amounts owing to the Agent and the Lenders.


More Definitions of Aggregate Used Vehicle Floorplan Commitment

Aggregate Used Vehicle Floorplan Commitment means, at any time, the aggregate of the Used Vehicle Floorplan Commitments of all Lenders at such time. “Agreement” has the meaning set forth in the introductory paragraph. “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the highest of (a) the Prime Rate for such day, (b) the sum of the Federal Funds Effective Rate for such day plus .50% per annum and (c) Adjusted Daily Simple SOFR in effect for such day plus 1.50%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate, or the Adjusted Daily Simple SOFR shall be effective from the effective date of such change. If the Alternate Base Rate is being used when Daily Simple SOFR Loans are unavailable pursuant to Section 7.3, then the Alternate Base Rate shall be the highest of clauses (a) and (b), without reference to clause (c) above. In no event shall the Alternate Base Rate be less than zero. 3 13483422v8
View Source
Aggregate Used Vehicle Floorplan Commitment means, at any time, the aggregate of the Used Vehicle Floorplan Commitments of all Lenders at such time. “Agreement” has the meaning set forth in the introductory paragraph. “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the highest of (a) the Prime Rate for such day, (b) the sum of the Federal Funds Effective Rate for such day plus .50% per annum and (c) Adjusted Daily Simple SOFR in effect for such day plus 1.50%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate, or the Adjusted Daily Simple SOFR shall be effective from the effective date of such change. If the Alternate Base Rate is being used when Daily Simple SOFR Loans 3 115525625.4 0063724-00082
View Source