Black Book Value definition
Black Book Value means the value of a motor vehicle based on the Black Book appraisal guides published by National Auto Research.
Black Book Value. With respect to a vehicle that is the subject of a Covered Lease, the “average wholesale” value established by the Black Book Official Used Car Market Guide, Monthly National Edition, for a vehicle of the same make and model as such vehicle, without adjustments for options installed by the manufacturer and/or the automobile dealer. In the event that Black Book either ceases to exist or no longer publishes a Monthly National Edition during the Term, the Insured and Insurer shall mutually agree to another recognized nationally published used car market guide.
Black Book Value means the trade-in value as published by the National Automobile Dealers Association from time to time.
Examples of Black Book Value in a sentence
For purposes of this paragraph, “RTO Floor Plan Value” means the Black Book Value for a motor vehicle plus Six Hundred Dollars ($600).
The amount of principal owing on the Existing Receivables Note at any given time shall be the aggregate amount of the Existing Receivables loan minus (i) all payments of principal thereto received by Lender on the Existing Receivables Note; and (ii) the Black Book Value of any motor vehicle which secures an Existing Receivable which is converted to an RTO Receivable.