Floor Plan Borrowing definition

Floor Plan Borrowing means a borrowing of Floor Plan Loans pursuant to Section 2.02.
Sample 1Sample 2Sample 3
Floor Plan Borrowing means a borrowing consisting of simultaneous Floor Plan Loans of the same Type, or a borrowing advanced by M&T Advance Lender as a M&T Advance subject to pro-rata participations by the Floor Plan Lenders, all as set forth in Sections 2.01 and 2.02 of this Agreement.
Sample 1Sample 2Sample 3
Floor Plan Borrowing means a Borrowing consisting of simultaneous Floor Plan Loans made by each of the Lenders pursuant to Section 2.1.
Sample 1

Examples of Floor Plan Borrowing in a sentence

  • The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic notices, Floor Plan Borrowing Notices or Letter of Credit Applications) purportedly given by or on behalf of a Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.

  • The Executive secretary of the Faculty Senate shall serve as secretary of the faculty.The Faculty Senate Steering Committee will have the power to call a meeting of the faculty.

  • The Swing Line Lender shall furnish any of the Floor Plan Borrowers, upon request from any such Borrower, with a copy of the applicable Notice of Floor Plan Borrowing.

  • Each Draft submitted by a Manufacturer pursuant to a Drafting Agreement shall be deemed automatically to constitute a Floor Plan Committed Loan Notice for a Floor Plan Borrowing.

  • In addition to the payment obligations set forth above, the Floor Plan Borrowers shall jointly and severally repay each Swing Line Loan on the earlier to occur of (i) demand of the Swing Line Lender (provided that, in the event of such demand, the Floor Plan Borrowers shall have the right to refinance such Swing Line Loan with a Floor Plan Borrowing, subject to the other terms and conditions of this Agreement); and (ii) the Floor Plan Expiration Date.

  • Each notice (such notice, a “ Floor Plan Borrowing Notice ”) shall specify the date of the Loan requested (which must be a Business Day), the Borrower to which the proceeds of such Floor Plan Loan should be made available, and the amount of such Floor Plan Loan, and shall be accompanied by the Company’s inventory worksheet and a copy of the title of each Eligible Floor Plan Vehicle or Unit to be financed by such Floor Plan Loan.

  • Such request shall be made in writing (which written request shall be deemed to be a Notice of Floor Plan Borrowing for purposes hereof) and in accordance with the requirements of Section 2.2, without regard to any minimum and multiples specified therein for the principal amount of Floor Plan Loans, but subject to the unutilized portion of the Aggregate Floor Plan Commitments and the conditions set forth herein.

  • Passenger vehicles—automobiles and, often, pickups—are also operated for recreational purposes, which includes after-work hours.

  • Each Floor Plan Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as such Borrowers may request.


More Definitions of Floor Plan Borrowing

Floor Plan Borrowing means a borrowing of Floor Plan Loans pursuant to Section 2.02 .
Sample 1

Related to Floor Plan Borrowing

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Lenders pursuant to Section 2.01(b).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Letter of Credit Borrowing means any Credit Extension resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.