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Co.)", "score": 34.6646118164, "published": true}], "size": 4, "snippet": "means (x) the Initial First Lien Inventory Financing Agreement (as defined in the Ally Intercreditor) or (y) any agreement from any bank or asset-based lender or any one or more securitization, financing, factoring or sales transactions in the ordinary course of business, as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, pursuant to which the Company or any Restricted Subsidiary incurs Indebtedness for which substantially all of the net proceeds are based on the cost to, purchase, produce, transport, recondition, refurbish, finance or refinance Vehicle Assets; provided that there are no Liens securing any such Indebtedness Incurred thereunder other than Liens, in the case of clause (x) above, on the Ally Collateral or, in the case of clause (y) above, on assets whose encumbrance is consistent with traditional floor plan facilities; provided further that any Indebtedness Incurred under all Floor Plan Facilities (other than pursuant to clause (x) above) (I) in the aggregate does not exceed 95% of the total cost of the Company\u2019s otherwise unencumbered Vehicle Assets, net of cash reserves, if any, (II) are bona fide financing transactions, on then prevailing market terms on an arm\u2019s length basis, (III) contain customary terms and counterparties for such facility at such time, and (IV) the proceeds of which are used in the ordinary course of business. In the event of a Floor Plan Facility with an Affiliate, the Indebtedness Incurred under such Floor Plan Facility with an Affiliate shall (x) be up to an aggregate principal amount at the time of Incurrence not exceeding $200 million, (y) satisfy the conditions set forth in clauses (I) to (IV) of the preceding proviso and (z) not include a redemption or prepayment premium, or any other form of non-interest based fee.", "hash": "04bdc33777c98ac81b4c809dd426b528", "id": 10}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIcZmxvb3ItcGxhbi1mYWNpbGl0eSMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"title": "Floor Plan Facility", "size": 68, "snippet": "means an agreement from any bank or asset-based lender or any one or more securitization, financing, factoring or sales transactions, as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, pursuant to which the Company or any Restricted Subsidiary incurs Indebtedness substantially all of the net proceeds of which are used to, or are based on the cost to, purchase, produce, transport, recondition, refurbish, finance or refinance Vehicle Assets.", "id": "floor-plan-facility", "examples": ["Subject to the application and satisfaction of the terms and conditions of this Agreement and of the other Credit Documents, during the Availability Period in respect of the <strong>Floor Plan Facility</strong>, the Floor Plan Borrowers may borrow, prepay, and reborrow the Floor Plan Loans in whole or in part.", "Without limiting the discretion of the M&amp;T Advance Lender whether or not to make a M&amp;T Advance (as set forth in Section 2.02.1), so long as any Lender (other than M&amp;T Advance Lender or any of its Affiliates) under the <strong>Floor Plan Facility</strong> is a Defaulting Lender, M&amp;T Advance Lender shall not be required to fund any M&amp;T Advance.", "In the event that (A) the Outstanding Amount of Floor Plan Loans exceeds the aggregate amount of the Floor Plan Commitments, or (B) any Floor Plan Loan sublimit set forth in Section 2.02 with respect to the <strong>Floor Plan Facility</strong> is exceeded, in either case, the Borrowers shall immediately repay Floor Plan Loans (or, in the case of clause (B), the applicable Floor Plan Loans) in the amount of such excess.", "All fees in respect of the Letter of Credit Facility, the <strong>Floor Plan Facility</strong> or the Revolving Credit Facility, as applicable, accrued until the effective date of any termination of the Letter of Credit Facility, the <strong>Floor Plan Facility</strong> or the Revolving Credit Facility, respectively, shall be paid on the effective date of such termination.", "The <strong>Floor Plan Facility</strong>, as amended hereby, shall be used to finance new Subaru vehicles and used, auction, and service loaner vehicles.", "All fees in respect of the Letter of Credit Facility or the <strong>Floor Plan Facility</strong>, as applicable, accrued until the effective date of any termination of the Letter of Credit Facility or the <strong>Floor Plan Facility</strong>, respectively, shall be paid on the effective date of such termination.", "Without limitation to the foregoing, the Loan Parties hereby ratify and reaffirm their respective Guaranty Agreements upon giving effect to the amendment to the <strong>Floor Plan Facility</strong> set forth in this Amendment.", "No advance under the <strong>Floor Plan Facility</strong> made to finance a New Vehicle shall exceed one hundred percent (100%) of dealer cost.", "The Borrowers intend to reinvest approximately $6,200,000 ofnet proceeds from the sale of AMR Auto Holdings-SB, LLC dbaPrime Subaru dealership sale in the B\u2587\u2587\u2587\u2587 Acquisition, and have requested that $10,000,000 - $12,000,000 of aggregate availability under the <strong>Floor Plan Facility</strong> be reallocated to finance New Vehicles and Used Vehicles for the Chevrolet and Subaru dealerships acquired in the B\u2587\u2587\u2587\u2587 Acquisition (\u201cNew Dealership Financing\u201d).", "Each Floor Plan Increase shall have the same terms (other than upfront and similar fees), including collateral, interest rates, unused fees and commitment fees, as the <strong>Floor Plan Facility</strong>."], "related": [["l-c-facility", "L/C Facility", "L/C Facility"], ["loan-facility", "Loan Facility", "Loan Facility"], ["term-loan-facilities", "Term Loan Facilities", "Term Loan Facilities"], ["satellite-facility", "Satellite facility", "Satellite facility"], ["tranche-b-facility", "Tranche B Facility", "Tranche B Facility"]], "related_snippets": [], "updated": "2025-09-12T04:24:41+00:00"}, "json": true, "cursor": ""}}