CAP Vehicle definition
CAP Vehicle means New Motor Vehicles that have previously been driven by manufacturer executives and representatives.
CAP Vehicle means any New Motor Vehicle previously driven by manufacturer executives and representatives. (46) (45) “Capital Lease” means, with respect to a Person, any lease or other arrangement for the use of property or assets that would be required to be accounted for as a capital lease on a balance sheet of that Person in accordance with GAAP. The amount of any Capital Lease at any
CAP Vehicle means any New Motor Vehicle previously driven by manufacturer executives and representatives. (45) (34) “Capital Lease” means, with respect to a Person, any lease or other arrangement for the use of property or assets that would be required to be accounted for as a capital lease on a balance sheet of that Person in accordance with GAAP. The amount of any Capital Lease at any date shall be the amount of the obligation in respect thereof required to be included on the balance sheet of the Person. (46) (35) “Cash Equivalent Investments” means (a) securities issued or fully guaranteed by the government of Canada, United States or any agency or instrumentality thereof, (b) commercial paper rated A-1 or better by S&P or P-1 or better by ▇▇▇▇▇’▇, (c) demand deposit accounts maintained in the ordinary course of business, and (d) certificates of deposit issued by and time deposits with commercial banks (whether domestic or foreign) having capital and surplus in excess of $500,000,000, (e) shares of money market mutual funds that are rated at least “AAAm” or “AAAG” by S&P or “P-1” or better by ▇▇▇▇▇’▇, (f) Canadian Dollars or U.S. Dollars, and (g) other cash equivalent investments approved in writing by the Administrative Agent. (36) “CDOR Loan” means a Loan in Canadian Dollars at the 30 day CDOR Rate plus the Applicable Margin. (37) “CDOR Rate” means as of any day, the annual rate of interest, calculated on the basis of a year of 365 days, which is the rate determined in normal market practice as being the arithmetic average of the quotations of Schedule I Lenders listed in respect of Canadian Dollar denominated bankers’ acceptances for the applicable period displayed and identified as such by Refinitiv Benchmark Services (UK) Limited rounded upward to the nearest multiple of 0.01%; and in no event less than zero, as of 10:00 a.m. Toronto time on such day and, if such day is not a Business Day, then on the immediately preceding Business Day (as adjusted by the Administrative Agent after 10:00 a.m. Toronto time to reflect any error in a posted rate of interest or in the posted average annual rate of interest); and if such rates are not available from Refinitiv Benchmark Services (UK) Limited on any particular day, then the CDOR Rate on that day shall be calculated as the rate applicable to Canadian Dollar denominated bankers’ acceptances for the applicable period quoted by the Administrative Agent as of 10:00 a.m. Toronto time on such day; or if such day is not a Bu...