Floor Plan Note definition

Floor Plan Note means each of the Notes substantially in the form of Exhibit 1.1C, duly issued by the Floor Plan Borrowers to each Lender in the aggregate principal face amount of such Lender’s Floor Plan Loan Commitment.
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Floor Plan Note means a promissory note made by each Borrower in favor of a Floor Plan Lender evidencing Floor Plan Loans made by such Floor Plan Lender, substantially in the form of Exhibit A-1.
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Floor Plan Note shall have the meaning assigned to it in Section 1.1(b).
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Examples of Floor Plan Note in a sentence

  • A ten percent (10%) curtailment of the original Floor Plan Note principal balance shall be due on the first of the month following nine (9) months from the date of creation of a Floor Plan Note.

  • Used: A ten percent (10%) curtailment shall be due on the first month follwing six (6) months from the date of creation of a Floor Plan Note (“Curtailment”).

  • New: Principal payment shall be due twelve (12) months from the first of the month following date of invoice and creation of the Floor Plan Note.

  • Payment in full of the outstanding balance shall be due on the first of the month following twelve (12) months from the date of creation of Floor Plan Note.

  • If payment for the Curtailment that is due upon original maturity is not received and credited to the Borrower Floor Plan Note by the last business day of the maturity month, the Curtailment amount, plus a non-refundable service charge equal to fifteen (15) days interest will be charged to the Borrower’s accounts receivable statement.

  • Each Floor Plan Note will bear interest at Prime Rate plus one and one-quarter percent (1.25%) for New Equipment and one and three-quarters percent (1.75%) for Used Equipment.

  • A Floor Plan Note covering Equipment in new condition may be extended by Lender or its assignee for a three (3) month renewal period, provided all accrued interest has been paid and a curtailment of ten percent (10%) of the original Floor Plan Note principal balance (“Curtailment”) is paid to Lender or its assignee at the original maturity date.

  • Debtor shall pay to Secured Party on demand all expenses and expenditures, including attorney fees, plus interest thereon at the highest legal rate per annum, pursuant to the provisions of the Floor Plan Agreement, Floor Plan Note and this Security Agreement.

  • Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Floor Plan Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

  • Upon the request of any Lender made through the Administrative Agent, each Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Floor Plan Note, which shall evidence such Lender’s Loans in addition to such accounts or records.


More Definitions of Floor Plan Note

Floor Plan Note means a promissory note made by each Borrower in favor of a Floor Plan Lender evidencing Floor Plan Loans made by such Floor Plan Lender, substantially in the form of Exhibit A-1 .
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Floor Plan Note means the promissory note referred to in Section 2.2 together with any subsequent renewals, extensions, modifications and substitutions thereof.
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Floor Plan Note means that certain $5,000,000 promissory note, dated September 28, 2007, by Super Store in favor of the Bank.
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Related to Floor Plan Note

  • Loan Note means each Loan Note of the Borrower in the form of Exhibit C attached hereto, payable to the order of a Funding Agent for the benefit of the Lenders in such Funding Agent’s Lender Group, in the aggregate face amount of up to such Lender Group’s portion of the Maximum Facility Amount, evidencing the aggregate indebtedness of the Borrower to the Lenders in such Funding Agent’s Lender Group.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Credit Note means a document issued by a registered person under sub-section (1) of section 34;

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.