Capex Loans Clause Samples

Capex Loans. Prior to the Closing Date, “Capex Loans” (as defined in the Existing Agreement) were made to the Borrowers under the Existing Agreement which remain outstanding as of the Closing Date (each such outstanding loans being hereinafter referred to as the “Existing Capex Loans”). Subject to the terms and conditions of this Agreement, the Obligors and each Lender agree that on the Closing Date, the Existing Capex Loans shall be re-evidenced as Capex Loans loans under this Loan Agreement and the terms applicable thereto shall be restated in their entirety and shall be evidenced by this Agreement. Each Lender agrees, severally on a Pro Rata basis up to its Capex Loan Commitment, on the terms set forth herein, to make one or more Capex Loans to Borrowers from time to time through the earlier of June 30, 2018 or the Capex Loan Termination Date as requested by Borrowers in the manner set forth in Section 2.

Capex Loans. Upon the request of a Lender, to evidence the obligation of Core Molding to repay the Capex Loans made by such Lender and to pay interest thereon, Core Molding shall execute a Capex Note, payable to the order of such Lender in the principal amount of its Commitment Percentage of the Capex Commitment; provided that the failure of a Lender to request a Capex Note shall in no way detract from Core Molding’s obligations to such Lender hereunder.

Capex Loans. The Borrower may not incur any Financial Indebtedness for capital expenditure purposes after the date of this Agreement with any Affiliate unless the Borrower and such Affiliate agree to subordinate and postpone the repayment of such obligations as more fully set forth in the Intercompany UK Debt Subordination Agreement.

Capex Loans. (a) From and after the Closing Date, LaSalle shall make non-revolving loans and advances (collectively, the "Capex Loan") to Borrower as Borrower shall from time to time request in an aggregate amount of up to but not exceeding Five Million and 00/100 ($5,000,000.00), in accordance with the terms of this paragraph 3(a). Each request for a Capex Loan advance shall be made in writing, together with invoices and other documentation acceptable to LaSalle evidencing the hard costs of the machinery and equipment acquired or to be acquired with the proceeds of the requested Capex Loan advance ("Acquired M&E"). Each Capex Loan advance shall be in an amount not less than $100,000 (and in increments of $1,000 in excess thereof) and shall be limited to no more than 80% of the hard costs of the Acquired M&E for which such advance is requested. Borrower shall execute and deliver to LaSalle a Capex Note from time to time when the aggregate amount of Capex Loans made but not evidenced by a Capex Note equals or exceeds $500,000; provided, however, that notwithstanding the aggregate amount of Capex Loans made but not evidenced by a Capex Note, Borrower shall execute and deliver to LaSalle a Capex Note on each August 31 during the term of this Agreement in an amount equal to the then-outstanding amount of Capex Loans made but not evidenced by a Capex Note. Principal payable on account of the Capex Loan shall be payable in successive monthly installments (i) payable on the first day of each month, the first of which installments shall be due and payable on the first day of the month immediately following the date of each Capex Note and (ii) based on an amortization schedule consisting of sixty (60) equal and level payments under each Capex Note; provided, however, that the entire unpaid principal balance of the Capex Loan shall be due and payable in full upon the expiration of the Original Term of this Agreement; and, provided further, that in the event that the Original Term of this Agreement is initially or subsequently renewed in accordance with paragraph 12 hereof, then Borrower shall continue to make such equal and level monthly principal payments under each Capex Note, with a final installment equal to the unpaid principal balance of the Capex Loan and any other amounts outstanding due and payable upon the expiration of the Renewal Term. Notwithstanding anything hereinabove to the contrary, the entire unpaid principal balance of the Capex Loan, and any accrued and unpa...

Capex Loans. Borrowers may, upon at least ten Business Days’ prior written notice to Lender, prepay the principal of the Capex Loans, in whole or in part. Each prepayment of principal made pursuant to this Section 2.4(c)(iii) shall be accompanied by the payment of accrued interest to the date of such payment on the amount prepaid. Proceeds of the Revolving Loans shall not be used by Borrowers to make a prepayment of the Capex Loans. Each such prepayment shall be applied against the remaining installments of principal due on the Capex Loans in the inverse order of maturity (for the avoidance of doubt, any amount that is due and payable on the Maturity Date shall constitute an installment).

Capex Loans. At any time that the Forced Liquidation Value of any Eligible New M&E of Borrowers, as set forth in the most recent Acceptable Appraisal, if any, received by Lender in accordance with this Agreement (in each case, net of operating expenses, liquidation expenses and commissions (without duplication) estimated to be incurred in connection with the liquidation thereof), has declined such that the aggregate unpaid principal amount of all Capex Loans is greater than 85% of the Forced Liquidation Value of all Eligible New M&E), Lender may, at its option, (A) require Borrowers to immediately prepay the unpaid principal amount of Capex Loans in the amount of such excess or (B) establish a Reserve in an amount equal to such excess.

Capex Loans. (a) Subject to, and upon the terms and conditions contained herein, during the period from and after the Closing Date but prior to the date that is the two-year anniversary of the Closing Date (the “Capex Loan Advance Period”), at the request of Borrowers (such requests to be made by Borrowers no more frequently than one time in any calendar quarter), Lender will make Capex Loans to Borrowers in an amount equal to 80% of the Hard Costs of the Eligible New M&E purchased by Borrowers after the Closing Date. The proceeds of each Capex Loan will be used solely for the payment of the purchase price (or to reimburse Borrowers for the cash payments previously paid by Borrowers for the purchase price) for the Eligible New M&E specified in the Capex Loan Request applicable to such Capex Loan; provided, that, (A) to the extent that the proceeds of any Capex Loan are used to reimburse Borrowers for the cash payments paid by Borrowers for the purchase price of any Eligible New M&E, Borrowers shall have taken possession of such Eligible New M&E within 60 days prior to the date of Borrowers’ request for such Capex Loan, and (B) no Capex Loan Request will include any Eligible New M&E that supports any other Capex Loan. Each Capex Loan will be in an amount of not less than $100,000. A single Capex Loan may be used for the purchase price of one or more items constituting Eligible New M&E specified in the Capex Loan Request required to be delivered to Lender pursuant to Section 2.16(d)(i). The minimum amount of each Capex Loan applies to the amount of such Capex Loan, not to the amount of the purchase price of any individual item of Eligible New M&E. (b) The outstanding aggregate principal amount of the Capex Loans made by Lender will not at any time exceed the lesser of (i) the Capex Loan Commitment and (ii) the lesser of (A) 85% of the Forced Liquidation Value of all Eligible New M&E purchased by Borrowers based upon the most recent Acceptable Appraisal received by Lender, and (B) the Capex Loan Limit, as reduced by the amount of all principal payments in respect of the Capex Loans. (c) Each Capex Loan to Borrowers will be (i) repaid, together with interest and other amounts payable, in accordance with the provisions of this Agreement and the other Loan Documents, and (ii) secured by all of the Collateral. All principal of, interest on, and other amounts payable in respect of the Capex Loans shall constitute Obligations hereunder, (d) In addition to the other conditions p...

Capex Loans. (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Term Loan Commitment may, in its sole discretion, make term loans (collectively, the “Term Loan”) to Borrowers, in an aggregate principal amount at any one time outstanding not to exceed such Lender’s Pro Rata Share of the Term Loan Amount. The proceeds of each Term Loan shall be used by a Borrower solely to fund a portion of the purchase price of assets (“Capital Assets”) acquired by such Borrower that, in accordance with GAAP, are or should be included in “property, plant and equipment” or in a similar fixed asset account on such Borrower’s balance sheet. The maximum principal amount of each Term Loan shall not exceed 70% of the Hard Cost of the Capital Assets to be acquired by the Borrowers with a portion of the proceeds of such Term Loan. Each Term Loan shall be made in a minimum amount of $50,000. The outstanding unpaid principal balance and all accrued and unpaid interest under the Term Loan shall be due and payable on the date of termination of this Agreement, whether by its terms, by prepayment, or by acceleration. All amounts outstanding under the Term Loan shall constitute Obligations. Any principal amount of the Term Loan which is repaid or prepaid by Borrowers may be reborrowed pursuant to the terms hereof. Borrowers may, at any time, prepay all or a portion of the Term Loan without penalty or premium. (b) Notwithstanding anything to the contrary contained in this Section 2.2, the Borrowers hereby acknowledge, confirm and agree that (i) immediately prior to the Restatement Effective Date, the outstanding principal amount of the Term Loan under and as defined in the Original Loan Facility is equal to $[0.00] (such Indebtedness being hereinafter referred to as the “Original Term Loan Indebtedness”), (ii) such Original Term Loan Indebtedness shall not be repaid on the Restatement Effective Date, but rather shall be reevidenced by this Agreement as a portion of the Term Loan outstanding hereunder, (iii) for all purposes of this Agreement and the other Loan Documents, the Original Term Loan Indebtedness on the Restatement Effective Date shall constitute the Term Loan outstanding on the Restatement Effective Date.

Capex Loans. Lessor hereby agrees to make the loan evidenced by the Capex Notes for the purposes, and pursuant to the terms, set forth in the Capex Notes. In consideration of Lessor agreeing to make each such loan, effective as of the “Due Date” as defined in the applicable Capex Note, Lessee and each the Sublessees hereby transfers, assigns, and conveys to Lessor all right, title and interest in and to all fixtures, equipment and other property acquired with the proceeds of the loans evidenced by such Capex Note. The Capex Notes shall constitute a Transaction Document.