Offset Arrangement definition

Offset Arrangement means an arrangement whereby a cost and a benefit are offset in a manner, which benefits two parties.
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Offset Arrangement means the way in which your Accounts are linked and the way in which we calculate and apply interest on such linked Accounts. When we refer to the
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Offset Arrangement means the way in which your Account can be linked with other current and savings account(s) and the way in which interest is calculated and applied to such linked account(s);
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Examples of Offset Arrangement in a sentence

  • In no event shall the Company be entitled to (i) the New Vehicle Floorplan Offset Arrangement at any time a Used Vehicle Floorplan Offset Arrangement is in place or (ii) the Used Vehicle Floorplan Offset Arrangement at any time a New Vehicle Floorplan Offset Arrangement is in place and the Company may alternate between a New Vehicle Floorplan Offset Arrangement and a Used Vehicle Floorplan Offset Arrangement no more than twice per calendar year.

  • In calculating amounts due and required to be paid on the Facility Termination Date, cash in the Floorplan Offset Account may be applied by the Administrative Agent to pay obligations with respect to the New Vehicle Floorplan Facility (in the case of a New Vehicle Floorplan Offset Arrangement) or the Used Vehicle Floorplan Facility (in the case of a Used Vehicle Floorplan Offset Arrangement).

  • Any Offset Arrangement undertaken pursuant to this Agreement shall have the prior written approval/endorsement of PITC.

  • The Company may, by delivering to the Administrative Agent an Offset Notice in substantially the form of Exhibit R not less than three days prior to the date of such conversion, request the Administrative Agent convert the New Vehicle Floorplan Offset Arrangement to the Used Vehicle Floorplan Offset Arrangement, or the Used Vehicle Floorplan Offset Arrangement to the New Vehicle Floorplan Offset Arrangement, as the case may be.

  • Under the Floor Plan Equity Offset Arrangement, the Borrowers may, at their election, deliver cash, checks or other good funds instruments to the Administrative Agent (“Equity Transaction”) to be held as Collateral and security for the Obligations for the pro-rata benefit of the Lenders, and the Administrative Agent agrees to account to the Borrowers for the total of such deliveries (such deliveries, the “Equity Balance”).

  • Each Floorplan Offset Account Advance shall be made as a Term SOFR Loan, subject to conversion to a different Type in accordance with the terms of this Agreement, and shall not reduce or be deemed to reduce availability under the New Vehicle Floorplan Commitment (in the case of a New Vehicle Floorplan Offset Arrangement) or availability under the Used Vehicle Floorplan Commitment (in the case of a Used Vehicle Floorplan Offset Arrangement).

  • Upon any such termination of the Floorplan Offset Account, the amounts on deposit therein shall be applied to the prepayment of New Vehicle Floorplan Loans (in the case of a New Vehicle Floorplan Offset Arrangement) or Used Vehicle Floorplan Loans (in the case of a Used Vehicle Floorplan Offset Arrangement), under Section 2.16, or, at the option of the Company, so long as no Event of Default has occurred and is continuing, remitted to the Company on behalf of the Borrowers.

  • As of the date hereof, the parties hereto agree that the New Vehicle Floorplan Offset Arrangement is in place.


More Definitions of Offset Arrangement

Offset Arrangement means the link between the offset deposit account and an offset loan account enabling interest offsetting to occur.
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