Cap Ex Loans Sample Clauses

Cap Ex Loans. The first and third paragraphs of Section 1(c), Cap Ex Loans, of the Schedule, dated December 5, 2014, are replaced in their entirety as follows: “Subject to the terms and conditions of this Agreement, from the Effective date through January 31, 2017 (the “Draw Period”), Lender agrees to make Capital Expenditures Loans (each a “Cap Ex Loan” and collectively, the “Cape Ex Loans”) in an aggregate outstanding amount, not to exceed $4,710,000 at any time. No Cap Ex Loans may exceed one hundred percent (100%) of the total invoice for Eligible Equipment (excluding taxes, shipping, warranty charges, freight discounts, and installation expenses relating to such Eligible Equipment).” “Interest only shall be payable on any and all Cap Ex Loans outstanding from time to time until January 31, 2017, at which time, the principal amount of each outstanding Cap Ex Loan, plus any accrued but unpaid interest thereon, will be aggregated and repaid in equal monthly payments of principal and interest (based on a 48-month amortization) commencing on February 28, 2017 and continuing on the last day of each month thereafter until the earliest of the following dates (“Cap Ex Loan Maturity Date): (i) the date the Cap Ex Loan has been paid in full; or (ii) January 1, 2019; or (iii) the date this Agreement terminated by its terms or is terminated, as provided in this Agreement. On the Cap Ex Loan Maturity Date (or, if earlier, upon acceleration of the Obligations in accordance with the terms of this Agreement), the entire unpaid principal balance of the Cap Ex Loan, plus all other Obligations relating to the Cap Ex Loan (including accrued and unpaid interest thereon, and, if applicable, the Cap Ex Loan Prepayment Fee) shall be due and payable. Any portion of the Cap Ex Loan that is repaid may not be reborrowed.
Sample 1
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Cap Ex Loans. Subject to, and upon the terms and conditions contained herein, Lender agrees to make loans (the "Cap Ex Loans") to Borrower from time to time in amounts requested by Borrower up to 75% of the net purchase price of new Equipment purchased after the date hereof and acceptable to Lender in its discretion (provided that not more than $1,000,000 in Cap Ex Loans shall be made hereunder). Cap Ex Loans may not be re-borrowed after being repaid. The net purchase price of Equipment means the purchase price thereof, as shown on the applicable invoice, net of all charges for taxes, freight, delivery, insurance, installation, set-up, training, manuals, fees, service charges and other similar items. Cap Ex Loans shall be made in disbursements of not less than $200,000 each and the proceeds of Cap Ex Loans shall be used exclusively to purchase the applicable Equipment. Each Cap Ex Loan shall be repaid by the Borrower to Lender in 60 equal monthly payments of principal, commencing on the first day of the first month after such Cap Ex Loan was disbursed and continuing until the earlier of the date such Cap Ex Loan has been paid in full or the date this Agreement terminates by its terms or is terminated, at which date the entire unpaid principal balance of the Cap Ex Loans, plus all accrued and unpaid interest thereon, shall be due and payable.
Sample 1
Cap Ex Loans. (a) In addition to all Revolving Advances, Letters of Credit and any other loans and financial accommodations to be made by Lender pursuant to this Agreement and subject to the terms and conditions set forth herein, Lender agrees, from the date hereof up to December 31, 1998 (the "Cap/Ex Line Termination Date"), to make loans to the Borrower, upon the Borrower's written request, for the purpose of purchasing or acquiring Eligible Equipment, or for the purpose of refinancing any existing Indebtedness or making new loans, with respect to any Equipment which Lender, in its sole discretion deems to be Eligible Equipment (the "Cap/Ex Line Loans"). Each Cap/Ex Line Loan shall be in an amount not to exceed seventy-five percent (75%) of the Equipment Purchase Price in respect of Eligible Equipment which is, at the time acquired by the Borrower, new Equipment, and seventy-five percent (75%) of the Orderly Liquidation Value in respect of Eligible Equipment which is, as of the date of such requested Cap/Ex Line Loan, used Equipment, PROVIDED, HOWEVER, that after giving effect to a Cap/Ex Line Loan requested by the Borrower, the sum of (i) such requested Cap/Ex Line Loan PLUS (ii) the aggregate original principal amount of all Cap/Ex Line Loans which have been made to the Borrower, PLUS (iii) the aggregate original principal amount of all Cap/Ex Line Loans which have been made to Affiliated Borrowers under the Affiliate Loan Agreements shall in no event exceed $6,500,000 ("Cap/Ex Line Sublimit"). The Borrower shall provide Lender with not less than ten (10) days prior written notice of each requested Cap/Ex Line Loan. Each Cap/Ex Line Loan shall bear interest from the date such Cap/Ex Line Loan is made at the applicable Contract Rate set forth in Section 3.1 and such interest shall be payable in accordance with Section 3.1. In addition to the foregoing and subject to the Cap/Ex Line Sublimit, Lender may, in its sole discretion, make additional Cap/Ex Line Loans to the Borrower in respect of Eligible Equipment, which is, at the time acquired by the Borrower, used Equipment, in an amount determined by Lender in its sole discretion.
Sample 1
Cap Ex Loans. 16 2.5 Separate Loans to Each Borrower . . . . . . . . . . . . . 16
Sample 1
Cap Ex Loans. Borrower is not obligated to finance equipment purchases with the Lender, and may enter into lease agreements as necessary with third parties to the extent permitted hereunder. Should Borrower finance equipment purchases through the Lender, through the first anniversary of the Effective Date, Borrower shall not have the right to voluntarily prepay any Cap Ex Loan. At any time after the first anniversary of the date of the date of funding of the Cap Ex Loan, Borrower shall have the option to prepay the Cap Ex Loan (together with all accrued but unpaid interest and the Cap Ex Loan Prepayment Fee) in whole, but not in part, upon not less than 30 days prior written notice to Lender. As used herein, the term “Cap Ex Loan Prepayment Fee” means, as of any date of determination, (i) 2.0% of the original principal amount of the Cap Ex Loan if such prepayment occurs on or before the second anniversary of the Effective Date and (ii) 1.0% of the original principal amount of the Cap Ex Loan if such prepayment occurs after the second anniversary of the Effective Date. The Cap Ex Loan Prepayment Fee shall be due from Borrower to Lender upon any prepayment of the principal of the Cap Ex Loan, including without limitation any prepayment as a result of an Event of Default or the exercise of any rights or remedies by Lender following the same.
Sample 1
Cap Ex Loans. Commencing at the close of business on the CapEx Line Termination Date and at all times thereafter, the Lenders shall not be required or obligated to make additional CapEx Loans and the aggregate outstanding principal balance of all CapEx Loans on such date shall convert into a senior secured term loan and shall be paid in full on September 23, 2010.
Sample 1
Cap Ex Loans. Subject to the terms and conditions of this Agreement, Xxxxx Fargo, shall, from time to time, make available Advances to Company (each, a "Cap Ex Loan" and collectively, the "Cap Ex Loans") to finance Company's purchase of new Eligible Equipment acquired after the date hereof (the "Cap Ex Equipment") for use in Company's business. All such Cap Ex Loans shall be in such amounts as are requested by Company, but in no event shall any Cap Ex Loan exceed eighty percent (80%) percent of the net invoice cost (excluding taxes, shipping, delivery, handling, installation, labor, overhead and other so-called "soft" costs) of the Cap Ex Equipment then to be purchased by Company and the total amount of all Cap Ex Loans outstanding hereunder shall not exceed, in the aggregate, the sum of Two Hundred Fifty Thousand Dollars ($250,000). Once repaid Cap Ex Loans may not be reborrowed.
Sample 1
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Cap Ex Loans. 22 2.8 Repayment of Advances; Mandatory Prepayment . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 2.9
Sample 1
Cap Ex Loans. Subject to the terms and conditions contained herein and in the Ancillary Agreements, the Lender shall make loans to the Borrower not more often than monthly (the "Cap Ex Loans") up to an amount equal to the lesser of (a) $3,500,000 or (b) 80% of the cash purchase price to the Borrower of new Equipment (the "Cap Ex Facility"), exclusive of fees, commissions, freight, taxes, installation charges and software costs related to such new Equipment. No more than $1,500,000 of the Cap Ex Loans may be borrowed in any one fiscal year and no less than $250,000 of the Cap Ex Loan may be borrowed by the Borrower at any one time. Cap Ex Loans shall be advanced by the Lender to the Borrower upon the Borrower's request together with such information as the Lender may reasonably
Sample 1

Related to Cap Ex Loans

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Revolving Loan Borrowings (i) Each Borrowing of Revolving Loans shall be made on notice given by a Borrower to the Revolving and LC Administrative Agent not later than 11:00 a.m. (New York time) (A) on the Business Day of the proposed Borrowing, in the case of a Borrowing of Base Rate Loans and (B) three Business Days prior to the date of the proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans. Each such notice shall be in substantially the form of Exhibit C-2 (a “Notice of Revolving Borrowing”) (or shall be made by telephone and the same information shall be confirmed promptly thereafter in writing), specifying (1) the date of such proposed Borrowing, (2) the aggregate amount of such proposed Borrowing, (3) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans, (4) the initial Interest Period or Interest Periods for any such Eurodollar Rate Loans, and (5) remittance instructions. The Revolving Loans shall be made as Base Rate Loans unless, subject to Section 2.17, the Notice of Revolving Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Revolving Loans shall be in an aggregate amount that is an integral multiple of $1,000,000.00 (or $500,000.00 with respect to Swing Loans) and shall be allocated ratably in accordance with each Revolving Lender’s Revolving Commitment.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Loan Advances (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Loan Amount. Within the limit of the Maximum Loan Amount in effect from time to time, during the Revolving Loan Period, Borrower may borrow, repay, and reborrow at any time and from time to time from the Effective Date to the earlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. If, by virtue of payments made on the Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the Collateral and all of the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be fully entitled to rely on all of the Collateral and all of the Loan Documents unless an appropriate release of all or any part of the Collateral or all or any part of the Loan Documents has been executed by Bank. Borrower acknowledges and agrees that the Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $200,000,000 at any time. Upon the expiration of the Revolving Loan Period, and provided that no Default or Event of Default has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. Borrower shall initiate each Loan Advance by submitting to Bank a written Advance Request no later than 1:00 p.m., Jacksonville, Florida time, on the Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Loan Advance shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If the conditions to making a Loan Advance as set forth in Section 5 are satisfied, then no later than the Advance Date, Bank shall reflect on its computer system the Loan Advance (the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) being objected to by Borrower, must set forth such provision(s) in the manner that Borrower believes they should be stated, and must be received by Bank no more than one (1) Business Day after the Confirmation was received by Borrower.

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

  • Repayment of Outstanding Loans; Borrowing of New Loans On the on the effective date of such increase, the Borrower shall repay all Loans then outstanding, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity]; provided that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11.

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof.

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