Floorplan Loan Assets definition

Floorplan Loan Assets means all Loan Documents, Loan Files and Related Rights of the Sellers; provided, however, in no event shall Floorplan Loan Assets include (a) the Loan Documents, Loan Files and Related Rights listed on Schedule 1.1(d), and (b) the Loan Documents and Loan Files (i) that have been originated in violation of California Finance Lenders Laws or similar laws governing registration or licensing requirements of a lender or servicer, (ii) in which there is any counter claim or material dispute, (iii) where the dealer is in material default and its credit line has been locked, (iv) in which the Sellers have notified the dealer that no further advances shall be made under dealer’s credit line, (v) in which the debt has been accelerated, or (vi) in which no advances under the dealer’s credit line have been made for the prior six (6) months.
Sample 1

Examples of Floorplan Loan Assets in a sentence

  • Ogawa presented on the status of fishery-dependent non-commercial data collection improvement efforts in Hawaii.

  • Prior to the Closing, the Sellers shall use commercially reasonable efforts, to (a) cure all (i) of the deficiencies set forth on Schedule 5.11 in connection with the Floorplan Loan Assets, and (ii) any material deficiencies that are subsequently identified in the Loan Documents and Loan Files after the date hereof, and (b) provide evidence of such cure as may be requested.

  • Prior to the Closing, the Seller shall use commercially reasonable efforts, to (a) cure all (i) of the deficiencies set forth on Schedule 5.12 in connection with the Floorplan Loan Assets, and (ii) any material deficiencies that are subsequently identified in the Loan Documents and Loan Files after the date hereof, and (b) provide evidence of such cure as may be requested.

  • The Seller shall use its reasonable best efforts to cure any and all deficiencies related to the Floorplan Loan Assets that Buyer identifies from time to time after the Closing Date.

Related to Floorplan Loan Assets

  • Loan Assets means, collectively and as applicable, the Initial Loan Assets, the Substitute Loan Assets and the Additional Loan Assets, as applicable.

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Home Equity Loans means loans or funded portions of lines of credit secured by mortgages on one-to four-family residences or stock of cooperative housing associations, where the Failed Bank did not have a first lien on the same property as collateral.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Home Equity Loan means a loan or funded or unfunded portions of a line of credit secured by a mortgage on a one-to four-family residences or stock of cooperative housing association, where the Failed Bank did not have a first lien on the same property as collateral.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Collateral Pool means the aggregate total of the Collateral.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Receivables Pool means, at any time of determination, all of the then outstanding Receivables transferred (or purported to be transferred) to the Borrower pursuant to the Purchase and Sale Agreement prior to the Termination Date.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Student Loans means education loans to students and parents of students under the Federal Family Education Loan Program.

  • Mortgage Pool Assets (i) The Mortgage Loans (including all Substitute Mortgage Loans) identified on the Mortgage Loan Schedule, and all rights pertaining thereto, including the related Mortgage Notes, Mortgages, Cooperative Stock Certificates, Cooperative Leases, Security Agreements, Assignments of Proprietary Lease, and Recognition Agreements, and all Monthly Payments due after the Cut-Off Date and all other payments and distributions collected with respect to the Mortgage Loans on or after the Cut-Off Date; (ii) the Certificate Account, the Investment Account, and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iii) the Custodial Accounts for P&I and any Buydown Fund Account (to the extent of the amounts on deposit or other property therein attributable to the Mortgage Loans), and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iv) all property that secured a Mortgage Loan and that has been acquired by foreclosure or deed in lieu of foreclosure or, in the case of a Cooperative Loan, a similar form of conversion, after the Cut-Off Date; and (v) each FHA insurance policy, Primary Insurance Policy, VA guaranty, and other insurance policy related to any Mortgage Loan, and all amounts paid or payable thereunder and all proceeds thereof.

  • Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property. Fitch: Fitch, Inc., or its successor in interest.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Receivables Purchase Facility means any securitization facility made available to the Borrower or any of its Subsidiaries, pursuant to which receivables of the Borrower or any of its Subsidiaries are transferred to one or more SPCs, and thereafter to certain investors, pursuant to the terms and conditions of the Receivables Purchase Documents.