Used vehicle definition

Used vehicle means a Vehicle other than a New Vehicle.

Used vehicle means any vehicle which has been sold,

Used vehicle means any vehicle which has been sold, bargained, exchanged or given away, or used to the extent that it has become what is commonly known, and generally recognized, as a “secondhand” vehicle. This shall also include any vehicle other than a remanufactured vehicle, regardless of age, owned by any person who is not a dealer;

Examples of Used vehicle in a sentence

• If the Company fails to specify a Type of Used Vehicle Floorplan Swing Line Loan in a Used Vehicle Floorplan Swing Line Loan Notice or if a Payment Commitment, Auction Agreement or Payoff Letter Commitment fails to specify a Type of Used Vehicle Floorplan Swing Line Loan, then the applicable Used Vehicle Floorplan Swing Line Loan shall, subject to Article III, be made as a Term SOFR Loan.

• If the Company fails to provide a timely Used Vehicle Floorplan Swing Line Loan Notice requesting a conversion of Term SOFR Loans to Base Rate Loans, such Loans shall, subject to Article III, continue as Term SOFR Loans.

• The Administrative Agent will promptly distribute to each Lender its Applicable Revolving Percentage, Applicable New Vehicle Floorplan Percentage, Applicable Used Vehicle Floorplan Percentage or Applicable Percentage (or other applicable share as provided herein), as applicable, of such payment in like funds as received by wire transfer to such Lender’s Lending Office.

• 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.

• The Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Revolving Percentage, Applicable New Vehicle Floorplan Percentage or Applicable Used Vehicle Floorplan Percentage, as applicable, of such prepayment.

More Definitions of Used vehicle

Used vehicle means any vehicle driven more than the limited use nec- essary in moving or road testing a new vehicle prior to delivery to a consumer, but does not include any vehicle sold only for scrap or parts (title documents surrendered to the State and a salvage certificate issued).

Used vehicle means a motor vehicle which has been sold, bargained, exchanged, given away, or the title to which has been transferred to another, by the person who first acquired it from the manufacturer or importer, dealer, or agent of the manufacturer or importer.

Used vehicle means any Vehicle held for sale by a Dealer that is determined to be a "used" Vehicle in accordance with the Servicer's standard wholesale servicing practices.

Used vehicle means a motor vehicle which has been sold, bargained, exchanged,

Used vehicle means any vehicle which is not a "new vehicle", a "demonstrator vehicle" or a "rollback vehicle" as defined in the three preceding sentences.

Used vehicle means a motor vehicle that has been sold, bargained, exchanged, or given away, or has had the title transferred from the person who first took title from the manufacturer or importer, dealer, or agent of the manufacturer or importer, or has been so used as to have become what is commonly known as a second hand motor vehicle. A motor vehicle that has been used by a dealer for the purpose of demonstration to prospective customers shall be considered a “used vehicle” if such demonstration use has been for more than one thousand five hundred miles.

Used vehicle means a used motor vehicle as defined in subsection 33(1) of the Dealers, Salespersons and Recyclers Regulation, Manitoba Regulation 5/2003. (« véhicule d'occasion »)