Used Vehicle Borrower has the meaning specified in the introductory paragraph hereto.
Used Vehicle Borrower has the meaning specified in the introductory paragraph hereto; provided that, subject to Section 2.25, in no event shall a Foreign Person, an Unrestricted Subsidiary, a Silo Subsidiary or a Powersports Subsidiary be a “Used Vehicle Borrower”.
Used Vehicle Borrower with respect to its Used Vehicle Borrowers’ Liabilities under the Credit Agreement shall be limited to an aggregate amount equal to the largest amount that would not render its obligations under the Credit Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provisions of any applicable state law.
Examples of Used Vehicle Borrower in a sentence
Each New Vehicle Borrower and Used Vehicle Borrower shall assist the New Vehicle Swing Line Lender or Used Vehicle Swing Line Lender, as applicable, and their respective representatives, in whatever way reasonably necessary to make the inspections and audits provided for herein.
Each Used Vehicle Borrower shall make all payments of principal and interest in respect of the Used Vehicle Floorplan Swing Line Loans directly to the Used Vehicle Swing Line Lender.
More Definitions of Used Vehicle Borrower
Used Vehicle Borrower and a “Borrower” (each term as used in this Section 1 having the respective meanings set forth in the Floorplan Credit Agreement) under the Loan Documents and shall have (and hereby unconditionally, absolutely and irrevocably assumes) all the terms, conditions, obligations, liabilities and undertakings of, and joins in each grant, pledge and assignment of any interest by, a Borrower as if it had manually executed the Floorplan Credit Agreement, the Notes, and each other applicable Loan Document. The Joining Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Floorplan Credit Agreement, the Notes, and each other applicable Loan Document.