PCP Agreement definition

PCP Agreement or "PCP" means each personal contract plan agreement entered into between an Obligor and VWFS in the form of standard business terms or otherwise pursuant to which VWFS has provided financing to an Obligor where the Final Rental Amount is substantially greater than the previous payments due under such contract and such Final Rental Amount is optional pursuant to the terms of such contract.
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PCP Agreement means fixed interest rate conditional sale contracts entered into by the Seller and Customers, which are secured by retention of title to the Financed Vehicles and, if the Customer opts to retain the related Financed Vehicle at the end of the contract term, a Guaranteed Future Value Payment becomes due from the Customer;
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Examples of PCP Agreement in a sentence

  • Obligors pay equal monthly instalments with a fixed interest rates and the amortisation schedule of amounts payable under a PCP Agreement is characterised by a large Final Rental Amount, normally reflecting an excess of the residual value of the vehicle at the end of the Financing Contract.

  • However, unlike the terms of a typical LP Agreement, the Obligor under a PCP Agreement is not required to pay the Final Rental Amount.

  • The typical PCP Agreement also amortises on the basis of fixed monthly instalments of equal amounts over a 6 to 60 month instalment period, with a substantial portion of the outstanding amount under the PCP Agreement being repaid in a single Final Rental Amount at maturity.

  • Accordingly, the Noteholders are relying on the business judgement and practices of VWFS as they exist from time to time, in its capacity as Servicer, including enforcing claims against Obligors and selling Financed Objects at the end of a PCP Agreement.

Related to PCP Agreement

  • MCIP Agreement means the Agreement for the Development of a Joint County Industrial and Business Park (2010 Park) dated as of December 1, 2010, as amended, between the County and Xxxxxxxx County, South Carolina, as the same may be further amended or supplemented from time to time, or such other agreement as the County may enter with respect to the Project to offer the benefits of the Special Source Revenue Credits to the Company hereunder.

  • Sponsorship Agreement means a document that estab- lishes an advanced licensee as a sponsor for a basic licensee.

  • SPS Agreement means the Agreement on the Application of Sanitary and Phytosanitary Measures which is a part of the WTO Agreement; Subheading means the first six digits in the tariff classification number under the HS; Territory means:

  • Formation Agreement has the meaning attributed to it in Recital A;

  • OP Agreement means the agreement of limited partnership of ATA Holdings, as amended and in effect from time to time.

  • SCM Agreement means the Agreement on Subsidies and Countervailing Measures in Annex 1A to the WTO Agreement;

  • JV Agreement has the meaning set forth in the Recitals.

  • Foundation Agreement means the agreement dated the 20th February 1985 made between the Trustee, the Manager, Xxxxxxxx, Genting WA and Tileska providing for the subscription of Units and Options;

  • TRIPS Agreement means the Agreement on Trade-Related Aspects of Intellectual Property Rights;

  • Existing LLC Agreement is defined in the recitals to this Agreement.

  • Relationship Agreement means the relationship agreement between certain members of the Brookfield Group, the Partnership, BBP, the Holding Entities and others dated as of the date hereof;

  • Co-operation Agreement means the agreement between the Exchange and Oslo Børs with regards to the access to the Linked Order Book;

  • Dealership Agreement means an oral or written agreement, either express or implied, between a supplier and a dealer which provides that the dealer is granted the right to sell, distribute, or service the supplier’s equipment, regardless of whether the equipment carries a trade name, trademark, service mark, logotype, advertisement, or other commercial symbol, and which provides evidence of a continuing commercial relationship between the supplier and the dealer.

  • Connection Agreement means an agreement entered into between a distributor and a person connected to its distribution system that delineates the conditions of the connection and delivery of electricity to or from that connection;

  • Operating Agreement means the agreement, whether or not referred to as an operating agreement and whether oral, in a record, implied, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in section 489.110, subsection 1. The term includes the agreement as amended or restated.

  • Sponsor Letter Agreement has the meaning set forth in the recitals to this Agreement.

  • Lock-Up Agreement means the Lock-Up Agreement, dated as of the date hereof, by and among the Company and the directors, officers and 5% stockholders of the Company, in the form of Exhibit C attached hereto.

  • Master Separation Agreement has the meaning set forth in the recitals.

  • Transition Agreement has the meaning set forth in Section 12.8.1.

  • Secondment Agreement is defined in Section 2.2.

  • Payment Agreement means a written agreement which provides

  • Sponsor Management Agreement means the Management Agreement between certain of the management companies associated with the Sponsors and the Borrower.

  • LLC Agreement means the Limited Liability Company Agreement of the Company, as amended from time to time pursuant to its terms.

  • Distribution Agreements means the Amended and Restated Distribution and License Agreements dated as of November 30, 1992 between Bollore and North Atlantic Operating Corporation, Inc., a Delaware corporation and subsidiary of Turning Point, relating to (i) the United States and (ii) Canada, each as amended by a Restated Amendment dated June 25, 1997 and Amendments dated respectively October 22, 1997, October 7, 1999, October 20, 1999, June 19, 2002, February 28, 2005 and April 20, 2006, and the License and Distribution Agreement, dated March 19, 2013, between Bollore and North Atlantic Operating Corporation, Inc., in each case as so amended and as may hereafter be amended, modified or superseded, and any other related agreements between or among such parties.

  • Joint Agreement means a type of Fund Use Agreement between the Consortium and the Fund Council that sets forth an umbrella set of terms and conditions that govern principally the submission and approval of CRP proposals and the transfer and use of funds from the CGIAR Fund for implementation of CRPs.

  • Development Agreement has the meaning set forth in the Recitals.