Floor Plan Finance definition

Floor Plan Finance means, collectively, the following finance arrangements: (a) wholesale vehicle stocking financing facilities (howsoever structured, including sale or return, cash enhancement, bailment, display and consignment structures and those where Credit Company retains title to relevant Vehicles or related Vehicle registration or other documentation until Dealer payment) for new Vehicles, including Vehicles stored from time to time in holding compounds operated by a Target Company or Company Subsidiaries or Third Parties on behalf of Dealers or Target Companies or Company Subsidiaries, Vehicles not yet shipped in accordance with the applicable sale and purchase agreement between a Target Company or Company Subsidiary and the Dealer, or demonstrator Vehicles which Credit Company finances through a new wholesale credit facility; (b) wholesale vehicle financing facilities (howsoever structured, including overdrafts and individually financed vehicles) for used vehicles, including any make or model of vehicle; (c) any Financing Plan provided to Dealers by Credit Company which involves the selling or leasing of any make or model of vehicle by Credit Company to Dealers for use in their business, which include demonstrator vehicle, courtesy vehicle and company car Financing Plans; (d) parts and accessories financing facilities provided by Credit Company to Dealers; (e) any Financing Plan whereby Credit Company provides financing to Dealers to facilitate their purchase or lease of equipment or dealer signage; and (f) receivables created under any Financing Plan provided by Credit Company which has the net effect of extending deferred payment terms and/or leasing terms to Dealers for their purchase or lease of those vehicles defined in subsections (a) and (b) of this definition and in addition vehicle parts and accessories, equipment and dealer signage, which is not structured as a direct finance facility to Dealers, including but not limited to undisclosed receivables factoring arrangements, arrangements where Credit Company acts as collection agent of the Business and arrangements where a Target Company or Company Subsidiary and not the Dealers pays Credit Company’s financing costs.
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Examples of Floor Plan Finance in a sentence

  • Servicer will acquire the Servicing Rights in accordance with the terms and conditions of this Agreement and Servicer will service such Mortgage Loans in accordance with the Servicing Documents (as defined below) it has entered into with ▇▇▇▇▇▇ ▇▇▇.

  • This agreement supersedes all previous agreements, if any, including but not limited to the Floor Plan Finance Agreement dated by the parties on February 21, 2008, which is hereby terminated.

  • This agreement shall supersede the previous Floor Plan Finance Agreement dated July 30th, 2008, which shall automatically terminate on the date on the date that the loaned amount for the aircraft associated with the July 30th, 2008 Floor Plan has been satisfied by Borrower.

  • In the event that Lender exercises their right of first refusal, Lender and Borrower shall terminate this Agreement within thirty (30) days from Lender’s notice and both parties shall enter into a revised Floor Plan Finance Agreement that reflects terms that are equal to or more favorable than the bona fide offer made by the lending institution.

  • This agreement shall supersede the previous Floor Plan Finance Agreement dated July 30th, 2008, which shall automatically terminate on the date of mutual execution of this Agreement.