Total Acquisition Loan Commitment definition

Total Acquisition Loan Commitment means, at any time, the aggregate amount of the Acquisition Loan Commitments of all Lenders, as in effect at such time in accordance with this Agreement, which Commitments, as of the Closing Date, equal the Dollar equivalent of $1,750,000,000, whether designated partly in Dollars and partly in one or more Alternative Currencies. Notwithstanding anything to the contrary contained herein, the Total Acquisition Loan Commitment shall not at any time exceed fifty percent (50%) of the Total Commitment.

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Total Acquisition Loan Commitment means, at any time, the sum of the Acquisition Loan Commitments of each of the Banks.

Total Acquisition Loan Commitment has the meaning assigned to such term in the Recitals.

Examples of Total Acquisition Loan Commitment in a sentence

The Commitment of any such New Lender shall be in an amount not less than $10,000,000, and such Commitment must be comprised of both a Floor Plan Loan Commitment and an Acquisition Loan Commitment, both in the same ratio with respect to the Total Floor Plan Loan Commitment and the Total Acquisition Loan Commitment.
In addition, no such reduction shall cause the Total Acquisition Loan Commitment to exceed 40% of the Total Commitment.
Such increase shall be allocated between the Total Floor Plan Loan Commitment and Total Acquisition Loan Commitment as requested by Borrower, provided, following any such increase, the Total Acquisition Loan Commitment shall not exceed 40% of the Total Commitment.
In addition, no such reduction shall cause the Total Acquisition Loan Commitment to exceed 20% of the Total Commitment.
Such increase shall be allocated between the Total Floor Plan Loan Commitment and Total Acquisition Loan Commitment as requested by Borrower, provided, following any such increase, the Acquisition Loan Commitment shall not exceed 20% of the Total Commitment.
In addition, (i) no such reduction shall cause the Total Acquisition Loan Commitment to exceed its percentage of the Total Commitments in effect on the Closing Date and (ii) the ratio of such Lender’s Floor Plan Loan Commitment to such Lender’s Acquisition Loan Commitment shall never be less than such ratio on the Closing Date.
Such increase shall be allocated between the Total Floor Plan Loan Commitment and Total Acquisition Loan Commitment as requested by Borrower, provided, following any such increase, the Acquisition Loan Commitment shall not exceed the percentage of the Total Commitment in effect as of the Closing Date.
At any time, the sum of the Total New Vehicle Commitment (which includes $10,000,000 of the Swingline Commitment) $20,000,000 of the Swingline Commitment, Total Program and Used Vehicle Commitment, Total Demonstrator Vehicle Commitment, and Total Acquisition Loan Commitment.
On any day on or prior to the Acquisition Loan Termination Date on which the aggregate outstanding principal amount of Acquisition Loans exceeds the Total Acquisition Loan Commitment, the Borrower shall repay the principal of Acquisition Loans in the amount equal to such excess.
The Banks hereby consent to the decrease in the Total Revolving Credit Commitment to $35,000,000 and to the increase in the Total Acquisition Loan Commitment to $23,000,000, such decrease and increase to be allocated pro rata to each Bank's Revolving Credit Commitment and Acquisition Loan Commitment and evidenced by Amended and Restated Revolving Credit Notes and Amended and Restated Acquisition Notes.

More Definitions of Total Acquisition Loan Commitment

Total Acquisition Loan Commitment means, at any time, the aggregate amount of the Acquisition Loan Commitments of all Lenders, as in effect at such time in accordance with this Agreement, which Commitments, as of the First Amendment Closing Date, equal the Dollar equivalent of $135,000,000, whether designated partly in Dollars and partly in one or more Alternative Currencies. Notwithstanding anything to the contrary contained herein, the Total Acquisition Loan Commitment shall not at any time exceed twenty percent (20%) of the Total Commitment.

Total Acquisition Loan Commitment. “Total Commitment” and “Total Floor Plan Loan Commitment” set forth in Section 1.1 of the Credit Agreement are hereby deleted in their entirety and the following substituted in lieu thereof:

Total Acquisition Loan Commitment the sum of the Acquisition Loan Commitments of the Lenders, as in effect from time to time. The initial Total Acquisition Loan Commitment as of the Effective Date is $75,000,000.

Total Acquisition Loan Commitment means the aggregate Acquisition Loan Commitments for all Banks totaling a maximum of $12,000,000.00 for all Banks.