Floor Plan Financing definition

Floor Plan Financing means financing arrangements pursuant to which a capital provider agrees to extend credit to Borrower or a Restricted Subsidiary to finance Floor Plan Units that are either held available for sale or as inventory by Borrower or such Restricted Subsidiary.

Floor Plan Financing means a financing undertaken by the Company or any Subsidiary all of the proceeds of which are used to purchase Motor Vehicles to be sold in the ordinary course of business of the Company and its Subsidiaries. Floor Plan Financing Provider means each provider of Floor Plan Financing to the Company and its Subsidiaries.

Floor Plan Financing means any floor plan financing or other indebtedness incurred by any Credit Party with respect to the purchase of Equipment Inventory and provided by the seller of such Equipment Inventory or any third party financing source.

Examples of Floor Plan Financing in a sentence

• Except pursuant to the Floor Plan Financing Guidelines, the Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental Authority.

• This Exhibit A is attached to and forms a part of that certain Wholesale Floor Plan Financing Agreement (the “Agreement”) between Capsource Equipment Company, Inc.

• Borrower’s request to Lender to extend such Floor Plan Financing shall be deemed an acceptance of the terms, conditions, provisions and rates in force for the particular rates and terms in effect at that time by Lender.

• Unless otherwise agreed to by Lender, the rates and terms in effect on the date Lender extends any Floor Plan Financing to Borrower under the Agreement, shall be the rates and terms in effect for said Floor Plan Financing until it is repaid in full.

• Definition of Floor Plan Financing Interest Expense – Proposed §1.163(j)-1(b)(17) Commenters recommended that interest paid on commercial financing liabilities or trade financing (in which a taxpayer borrows to fund the purchase or transport of commodities and then sells the inventory to pay off the debt) should not be subject to section 163(j).

More Definitions of Floor Plan Financing

Floor Plan Financing means a financing undertaken by the Company or any Subsidiary (a) all of the proceeds of which are (i) used to purchase Motor Vehicles to be sold or leased in the ordinary course of business by the Company and its Subsidiaries, (ii) relating to funds expended by the Company or such Subsidiary initially to acquire such Motor Vehicles or (iii) used to refinance any financing within the scope of clause (a)(i) or (ii) above or (b) pursuant to a borrowing base line of credit secured by Used Motor Vehicles owned by the Company and its Subsidiaries.

Floor Plan Financing means that certain floor planning arrangement among the Borrower and/or any of its Subsidiaries and one or more financial institutions pursuant to which any such financial institution provides credit to retail dealers and wholesale distributors which purchase goods from the Borrower and any of its Subsidiaries.

Floor Plan Financing means an inventory line of credit or note with a financial institution or a Manufacturer Affiliated finance company with respect to New Cars and Used Cars from time to time held for sale in connection with the Dealership Business.

Floor Plan Financing means financing arrangements pursuant to which a capital provider agrees to extend credit to a Specified Floor Plan Company to finance the purchase of vehicles and other related assets that are either held available for sale or as inventory by such Specified Floor Plan Company, and pursuant to which such Specified Floor Plan Company grants to such capital provider a security interest in such specific vehicles and other related assets financed by such capital provider and the proceeds thereof; provided that (i) no Subsidiary that is not a Specified Floor Plan Company shall be a borrower in respect of such arrangements and in no event shall such security interest apply to any Certificated Rental Equipment and (ii) the terms of any such Floor Plan Financing shall be substantially similar to the terms of any Floor Plan Financing in existence on the Closing Date with changes that are not materially adverse to the Lenders as determined by the Borrower and the Administrative Agent in their reasonable discretion.

Floor Plan Financing means a financing undertaken by the Company or any Subsidiary (a) all of the proceeds of which are (i) used to purchase Motor Vehicles to be sold in the ordinary course of business by the Company and its Subsidiaries, (ii) relating to funds expended by the Company or such Subsidiary initially to acquire such Motor Vehicles or (iii) used to refinance any financing within the scope of clause (a)(i) or (ii) above or (b) pursuant to a borrowing base line of credit secured by Used Motor Vehicles owned by the Company and its Subsidiaries. Notwithstanding the foregoing, Floor Plan Financing shall not include any Hertz Debt. Floor Plan Financing Provider means each provider of Floor Plan Financing to the Company and its Subsidiaries.

Floor Plan Financing means financing arrangements pursuant to which a capital provider agrees to extend credit to Borrower or a restricted subsidiary to finance Floor Plan Units that are either held available for sale or as inventory by Borrower or such subsidiary.

Floor Plan Financing means an agreement to finance inventory in which each item financed is specifically identified and released from the Liens of the provider of such financing only against the payment to such provider of the amount financed with respect to each such item of inventory, which is accounted for separately from other funds of the Person borrowing under such financing, and which provides for audits by the provider of such financing not less often than four times each year.