BANK OF AMERICA AUTOMOBILE FLOORING
AND SECURITY AGREEMENT
This Agreement dated as of March 6, 1997, is between Bank of America National Trust and Savings
Association, successor by merger to Bank of America Arizona (the "Bank") and Shannon Automotive, Ltd. (the
1. DEFINITIONS In addition to the terms which are defined elsewhere in this Agreement, the following terms
have the meanings indicated for the purposes of this Agreement:
"ADVANCE" means an advance made to the Borrower or on the Borrower's behalf under this Agreement.
"BANKING DAY" means a day other than a Saturday or a Sunday on which the Bank is open for business in
Arizona. All payments and disbursements which would be due on a day which is not a Banking Day will be due
on the next Banking Day. All payments received on a day which is not a Banking Day will be applied to the credit
on the next Banking Day.
"COLLATERAL" means the collateral required by Article 4 of this Agreement.
"COMMERCIAL VEHICLE" means a Vehicle of more than 1-1/2 ton rated capacity.
"DEALER TRADE" means a New Vehicle obtained by the Borrower from another dealer in trade.
"DEMO" means any New Vehicle which is designated by the Borrower with the consent of the Bank to be used
as a demonstration unit.
"FLEET SALE" means (a) an agreement by the Borrower to sell more than one Vehicle to the same purchaser,
or (b) a series of sales by the Borrower of more than one Vehicle to the same purchaser, unless the amount due
from the purchaser for each Vehicle is paid in full before the next Vehicle is sold.
"FLEET SALE PURCHASE CONTRACT" means the contract or contracts between the Borrower and the
purchaser under a Fleet Sale, including any delivery agreement, purchase order, or other document evidencing
the Fleet Sale and its terms.
"NEW VEHICLE" means a Vehicle which has never been owned except by a manufacturer, distributor or
dealer, has never been registered; and has not been driven more than 400 miles.
"NON-COMMERCIAL VEHICLE" means a Vehic