Warehouse Financing Transaction definition

Warehouse Financing Transaction means any transaction entered into in the ordinary course of the Company's business, in each case consistent with the Company's past practices, pursuant to which

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Warehouse Financing Transaction means any transaction or series of transactions, whether now existing or hereafter arising, that may be entered into, sponsored or conducted by the Company or any of its Subsidiaries in the ordinary course of business consistent with past practices, pursuant to which, in order to fund the purchases of Automobile Contracts: (i) the Company or one or more of its Subsidiaries sells to a “warehouse” SPE from time to time Automobile Contracts and (ii) such SPE purchases such Automobile Contracts from the Company or such selling Subsidiary for cash or other consideration at least equal to the fair market value of such Automobile Contracts and finances the purchase of such Automobile Contracts through borrowings under a “warehouse credit facility” secured by such Automobile Contracts and established with a third party lender that engages in similar financing transactions in the ordinary course of its business and under which such SPE is the sole borrower (with no recourse to either the Company or any other Subsidiary other than for breaches of customary representations and warranties made by the Company or such other Subsidiary in connection with the sales of Automobile Contracts to the SPE).

Warehouse Financing Transaction means any transaction entered into in the ordinary course of the Company’s business, in each case consistent with the Company’s past practices, pursuant to which (i) the Company or one or more of its Subsidiaries sells Automobile Contracts to

Examples of Warehouse Financing Transaction in a sentence

• The Company represented and warranted in Section 5(i) of the Third Amendment (and it hereby confirms that such representations and warranties are true and correct on and as of the Fourth Amendment Effective Date as if made on and as of such date) that the Company formed Page Funding as a direct Subsidiary and a Special Purpose Entity for the sole purpose of effectuating the Company’s next Warehouse Financing Transaction.

• The Company advised the Purchaser on or prior to June 21, 2004, that it expects to consummate its next Warehouse Financing Transaction on or before July 20, 2004, rather than June 21, 2004, and the Purchaser agreed to extend the Company’s obligations under Section 5(i) of the Third Amendment to such later date.

• The terms and conditions of the New Warehouse Financing Transaction shall be substantially similar to the terms and conditions contained in the term sheet sent by email from ▇▇▇▇▇▇ ▇▇▇▇▇ to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ on November 9, 2010 at 2:10 p.m. PST.

• The Company represents and warrants that neither it nor any of its Subsidiaries has transferred any assets to Page Funding, or permitted Page Funding to conduct any activities, and it covenants and agrees not to transfer any assets to Page Funding, or permit Page Funding to conduct any activities, other than in connection with the terms of the Company’s next Warehouse Financing Transaction.

More Definitions of Warehouse Financing Transaction

Warehouse Financing Transaction means any transaction entered into in the ordinary course of the Company’s business, in each case consistent with the Company’s past practices, pursuant to which (i) the Company or one or more of its Subsidiaries sells Automobile Contracts to any entity which is established by the Company for the limited purpose of buying and reselling such Automobile Contracts, and (ii) such entity purchases such Automobile Contracts from the Company or such selling Subsidiary from time to time for cash or other consideration at least equal to the fair market value of such Automobile Contracts and finances the purchase of such Automobile Contracts through borrowings under a ‘warehouse financing’ facility established with a third party that engages in similar financing transactions in the ordinary course of its business and under which such entity is the sole borrower (with no recourse to either the Company or any other Subsidiary other than for breaches of customary representations and warranties in connection with sales of Automobile Contracts), including the transactions contemplated by (A) that certain Sale and Servicing Agreement dated as of March 7, 2002, among CPS Warehouse Trust, CPS, Systems & Services Technologies, Inc. and Bank One Trust Company (referred to as the ‘XLCA/West LB’ warehouse financing transaction) and (B) that certain Sale and Servicing Agreement dated as of January 9, 2003, among CPS Funding LLC, CPS, Systems & Services Technologies, Inc. and Bank One Trust Company.”

Warehouse Financing Transaction means any transaction entered into in the ordinary course of the Company's business, in each case consistent with the Company's past practices, pursuant to which (i) the Company or one or more of its Subsidiaries sells Automobile Contracts to any entity which is established by the Company for the limited purpose of buying and reselling such Automobile Contracts, and (ii) such entity purchases such Automobile Contracts from the Company or such selling Subsidiary from time to time for cash or other consideration equal to the fair market value of such Automobile Contracts and finances the purchase of such Automobile Contracts through borrowings under a "warehouse financing" facility established with a third party financing party and under which such entity is the sole borrower (with no recourse to either the Company or any other Subsidiary other than for breaches of customary representations and warranties in connection with sales of Automobile Contracts).