Floorplan Overadvance definition

Floorplan Overadvance means, as of any date of determination, that the Floorplan Usage is greater than any of the limitations set forth in Section 2.2 or Section 2.11.
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Floorplan Overadvance means, as of any date of determination, that the Floorplan Usage is greater than any of the limitations set forth in Section 2.2 or Section 2.11. “Floorplan Swing Lender” means Bank of America or any other Lender that, at the request of Xxxxxxxx and with the consent of Agent agrees, in such Xxxxxx’s sole discretion, to become the Floorplan Swing Lender under Section 2.3(b)(ii) of the Agreement. “Floorplan Swing Loan” has the meaning specified therefor in Section 2.3(b)(ii) of the Agreement. “Floorplan Swing Loan Exposure” means, as of any date of determination with respect to any Lender, such Xxxxxx’s Pro Rata Share of the Floorplan Swing Loans on such date. “Floorplan Usage” means, as of any date of determination, the amount of outstanding Floorplan Loans (inclusive of Floorplan Swing Loans and Floorplan Protective Advances).
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Related to Floorplan Overadvance

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Overadvance has the meaning set forth in Section 2.5.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Permitted Overadvance means an Overadvance made by the Agent, in its discretion, which:

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Protective Advance has the meaning assigned to such term in Section 2.04.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Revolving Credit Lender pursuant to Section 2.02(b).

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).