Common use of CapEx Commitment Clause in Contracts

CapEx Commitment. Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make CapEx Advances to the Borrower from time to time on any Business Day until the CapEx Commitment Termination Date; provided that after giving effect to such CapEx Advances, the sum of the aggregate outstanding amount of all CapEx Advances shall not exceed the aggregate CapEx Commitments in effect at such time. Each CapEx Borrowing (A) shall consist of CapEx Advances of the same Type made on the same day by the CapEx Lenders ratably according to their respective CapEx Commitments, (B) if the proceeds thereof are to be applied to fund or refinance the purchase of equipment from a vendor selling such equipment as part of its inventory, shall not exceed 80% of the Net Invoiced Cost of such equipment, and (C) if the proceeds thereof are to be applied to fund or refinance the purchase of equipment from a Person other than a vendor selling such equipment as part of its inventory, shall not exceed 80% of the NOLV of such equipment. The Borrower may not reborrow any CapEx Advances that have been repaid.