Deemed Floored definition

Deemed Floored means, with respect to each New Vehicle, the date a New Vehicle Floorplan Borrowing is deemed to be made by a New Vehicle Floorplan Lender, including the New Vehicle Swing Line Lender, under the New Vehicle Floorplan Facility.
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Deemed Floored means with respect to a Motor Vehicle, the earlier of (a) the date a Floor Plan Loan Borrowing is deemed by the Floor Plan Agent, in its sole discretion, to be advanced by the Floor Plan Lenders, or (b) thirty (30) days after an advance is made on a Floor Plan Loan with respect to such Motor Vehicle.
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Deemed Floored means, (i) with respect to each New Vehicle, the date the initial New Vehicle Floorplan Borrowing is deemed to be made with respect to such New Vehicle by a New Vehicle Floorplan Lender, including the New Vehicle Swing Line Lender, under the New Vehicle Floorplan Facility and (ii) with respect to each Used Vehicle, the date the initial Used Vehicle Floorplan Borrowing is deemed to be made with respect to such Used Vehicle by a Used Vehicle Floorplan Lender, including the Used Vehicle Swing Line Lender, under the Used Vehicle Floorplan Facility.
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Examples of Deemed Floored in a sentence

  • With respect to each Used Vehicle that has not been sold, the Used Vehicle Borrowers (jointly and severally) shall pay in full an amount equal to, beginning 3 months after the date such Used Vehicle is Deemed Floored, monthly payments of 2% of the original amount of the Used Vehicle Floorplan Loan relating to such Used Vehicle, with the final payment for all amounts then outstanding under such Used Vehicle Floorplan Loan due 6 months after the date such Used Vehicle is Deemed Floored.

  • With respect to each Used Vehicle that has not been sold, the Used Vehicle Borrowers (jointly and severally) shall pay in full an amount equal to, beginning 3 months after the date such Used Vehicle is Deemed Floored, monthly payments of 2% of the original amount of the Used Vehicle Non-Offset Floorplan Loan relating to such Used Vehicle, with the final payment for all amounts then outstanding under such Used Vehicle Non-Offset Floorplan Loan due 6 months after the date such Used Vehicle is Deemed Floored.


More Definitions of Deemed Floored

Deemed Floored means, (i) with respect to each New Vehicle, the date the initial New Vehicle Floorplan Borrowing is deemed to be made with respect to such New Vehicle by a New Vehicle Floorplan Lender, including the New Vehicle Swing Line Lender, under the New Vehicle Floorplan Facility and (ii) with respect to each Used Vehicle, the date the initial Used Vehicle Floorplan Borrowing is deemed to be made with respect to such Used Vehicle by a Used Vehicle Floorplan Lender, including the Used Vehicle Swing Line Lender, under the Used Vehicle Floorplan Facility. Used Vehicles financed as of the Amendment No. 2 Effective Date after giving effect to Amendment No. 2 shall be “Deemed Floored” as of the Amendment No. 2 Effective Date.
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Related to Deemed Floored

  • Lowest floor means the lowest floor of the lowest enclosed area (including basement). An unfinished or flood resistant enclosure, usable solely for parking of vehicles, building access, or limited storage in an area other than a basement area is not considered a building's lowest floor, provided that such an enclosure is not built so as to render the structure in violation of the applicable non-elevation design requirements of this ordinance.

  • Wood floor wax means wax-based products for use solely on wood floors.

  • Ground floor means a floor of a building with a building entrance on an accessible route. A building may have more than one ground floor.

  • SOFR Floor means a rate of interest per annum equal to zero basis points (0.00%).

  • OC Floor An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.