Floorplan Borrowing Base Assets definition
Floorplan Borrowing Base Assets means secured floorplan loans and similar financing arrangements made by the Company or any Subsidiary to boat and engine dealers.
Examples of Floorplan Borrowing Base Assets in a sentence
Upon the incurrence of any Indebtedness secured by any Available Collateral or Fond du Lac Facility or any Floorplan Borrowing Base Assets, or the consummation of any sale and leaseback transaction in respect of any Available Collateral or Fond du Lac Facility, in each case that is permitted by this Agreement, the security interest in such Available Collateral or Fond du Lac Facility or Floorplan Borrowing Base Assets shall be automatically released.