Capital Expenditure Advances Sample Clauses

Capital Expenditure Advances. (i) Pursuant to the terms of the Original Agreement, Bank made Capital Expenditure Advances to Borrower under Tranche A, Tranche B and Tranche C.
Sample 1
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Capital Expenditure Advances. Lender shall, provided no Event of Default or Incipient Event of Default shall have occurred hereunder, provide advances to Borrower in the amount of up to $5,700,000 for the purchase of certain fixed assets acceptable to Lender (the "Capital Expenditure Advances"). The Capital Expenditure Advances will be used by Borrower solely for the purchase of fixed assets acceptable to Lender. Prior to each Capital Expenditure Advance, Borrower will deliver to Lender a detailed budget and description of the particular capital expenditure, which expenditure shall be subject to prior approval by Lender. Provided no Event of Default or Incipient Event of Default shall have occurred hereunder, the capital expenditures described on Schedule 2(k)3 annexed hereto for the second (2nd), third (3rd) and fourth (4th) fiscal quarters of 2001 have been approved by Lender and so long as no Event of Default or Incipient Event of Default shall have occurred hereunder, the applicable amount shall be credited to Borrower's account with Lender on the first business day of the months of May, July and October, 2001. Capital Expenditure Advances will be limited to $2,000,000 per fiscal quarter of Borrower. No Capital Expenditure Advances shall be made by Lender to Borrower prior to May 1, 2001."
Sample 1
Capital Expenditure Advances. The Lender agrees, on the terms and subject to the conditions herein set forth, to make advances to the Borrower from time to time from the Funding Date to July 5, 2000 (the "Capital Expenditure Advances"); provided that there are no Defaults then existing and such Advance will not cause a Default. The Lender shall have no obligation to make a Capital Expenditure Advance under this Section 2.4 if, after giving effect to such requested Capital Expenditure Advance, the outstanding aggregate principal balance of the Capital Expenditure Advances would exceed the lesser of (A) One Million Five Hundred Thousand Dollars ($1,500,000), or (B) eighty-five percent (85%) of the invoiced purchase price of new Equipment (exclusive of installation and other soft costs), plus eighty percent (80%) of the orderly liquidation value, based on a desktop appraisal by an independent appraiser satisfactory to the Lender, provided by the Borrower to the Lender at the Borrower's expense of used Equipment, in each case of used Equipment, in each case purchased by the Borrower after the date hereof, reduced by the aggregate amount of the scheduled principal payments described in Section 2.5. The Borrower's obligation to pay the Capital Expenditure Advances shall be evidenced by the Capital Expenditure Note and shall be secured by the Collateral as provided in Article III.
Sample 1
Capital Expenditure Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make advances (each a “Capital Expenditure Advance” and, collectively, the “Capital Expenditure Advances”) to Borrower in three tranches, Tranche A, Tranche B and Tranche C. The advances under Tranche A shall be made on or before September 20, 2003, in a single advance, and shall be used solely to pay or reimburse Borrower for capital expenditures of Borrower approved by Bank that were incurred by Borrower after January 1, 2003 but before the date of this Agreement, as reflected in a capital expenditure report delivered to Bank on or about the date of the Tranche A Advance that has been certified as accurate by a Responsible Officer; provided, that if the advance under Tranche A is made after July 20, 2003, then the amount of the advance under Tranche A must be at least $2,000,000.00 (regardless of the amount set forth in the capital expenditure report) and Borrower must obtain an advance under Tranche A. Borrower may request Capital Expenditure Advances under Tranche B at any time from the day after the Tranche A Capital Expenditure Advance through the Tranche B Availability End Date. Borrower may request Capital Expenditure Advances under Tranche C at any time from the Tranche B Availability End Date through the Tranche C Availability End Date. The aggregate amount of the Tranche A Capital Expenditure Advances, Tranche B Capital Expenditure Advances and Tranche C Capital Expenditure Advances shall not exceed the Capital Expenditure Line. Whenever Borrower desires a Capital Expenditure Advance under Tranche B or Tranche C, Borrower shall deliver to Bank for its reasonable approval a capital expenditure report reflecting the capital expenditures incurred by Borrower during the prior 90 days for which Borrower desires an advance, which capital expenditure report shall exclude any capital expenditures for which Borrower has previously requested a Capital Expenditure Advance under this Agreement and which capital expenditure report shall be certified as accurate by a Responsible Officer. Each Capital Expenditure Advance shall not exceed 80% of the amount (excluding taxes, shipping, warranty charges, freight discounts and installation expense) of certified capital expenditures (which Borrower shall, in any case, have incurred within 90 days of the date of the corresponding Capital Expenditure Advance, except with respect to Tranche A which shall have been incurred no earlier tha...
Sample 1
Capital Expenditure Advances. Except as set forth in Section 2.3(b), the Capital Expenditure Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to 1.25% above the Prime Rate; provided, however, that in no event shall the applicable rate of interest ever be less than 5.50% per annum.
Sample 1
Capital Expenditure Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Capital Expenditure Advances to Borrower, from time to time during the period commencing on the Closing Date and ending on November 30, 2002, in aggregate principal amounts, at any time, to such Lender's Commitment Percentage of up to the lesser of (i) $15,000,000; or (ii) 70% of the Liquidation Value of In-Place Domestic Property, Plant and Equipment. Capital Expenditure Line Advance Rates shall mean the percentage referred to in clause (ii) above and the proviso to Section 2.2(c)). The Capital Expenditure Advances shall be evidenced by the secured promissory note (the "Capital Expenditure Line Note"), substantially in the form attached as Exhibit 2.2(a). The amount derived from the calculation of the lesser of (ii) and (iii) above shall be referred to as the "Capital Expenditure Line Formula Amount".
Sample 1
Capital Expenditure Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Capital Expenditure Advances to Borrower, from time to time during the period commencing on the Closing Date and ending on October 1, 2002, in aggregate principal amounts, at any time, equal to such Lender's Commitment Percentage of up to the lesser of (i) $5,800,000; or (ii) 70% of the appraised orderly liquidation value of Borrower's domestic Equipment (For purposes of this Subsection 2.2(a), the term "Equipment" shall include only the Equipment of the Borrower). Upon receipt by Agent of an appraisal calculating the appraised orderly liquidation value of Borrower's domestic Equipment, Borrower shall reimburse each Lender their Commitment Percentage of any Capital Expenditure Line Advances provided to Borrower in excess of the value of 70% of the appraised orderly liquidation value of Borrower's domestic Equipment. The Capital Expenditure Advances shall be evidenced by the secured promissory note (the "Capital Expenditure Line Note"), substantially in the form attached as Exhibit 2.2(a). The amount derived from the calculation of the lesser of (i) and (ii) above shall be referred to as the "Capital Expenditure Line Formula Amount".
Sample 1
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Related to Capital Expenditure Advances

  • Investments, Loans, Advances and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

  • 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.

  • Loans, Advances and Investments Make or permit to remain outstanding any loan or advance to, or own, purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, any Person, or consummate any Acquisition, except that the Company or any Subsidiary may

  • Investments, Acquisitions, Loans and Advances The Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to (other than for travel advances and other similar cash advances made to employees in the ordinary course of business), any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:

  • Limitations on Loans, Advances, Investments and Acquisitions Purchase, own, invest in or otherwise acquire, directly or indirectly, any Capital Stock, interests in any partnership or joint venture (including, without limitation, the creation or capitalization of any Subsidiary), evidence of Indebtedness or other obligation or security, substantially all or a portion of the business or assets of any other Person or any other investment or interest whatsoever in any other Person, or make or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any Person except:

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to one and one half percent (1 .50%) above the Prime Rate.

  • Future Advances This Mortgage is (a) and Open-End Mortgage under 42 Pa. C.S.A. Section 8143 and (b) given to secure, among other things, indebtedness of the Mortgagor under the Credit Agreement and shall secure not only presently existing indebtedness and Secured Obligations of Borrower under the Credit Agreement (and Mortgagor under the Subsidiary Guaranty) but also future indebtedness of Borrower under the Credit Agreement (and Mortgagor under the Subsidiary Guaranty), whether such indebtedness is obligatory or at the option of Mortgagee, or otherwise, to the same extent as if such future indebtedness was made on the date of the execution of this Mortgage, although there may be no outstanding indebtedness of Mortgagor at the time of execution of this Mortgage. The lien of this Mortgage shall be valid as to all Secured Obligations, including future indebtedness of Mortgagor. The total amount of indebtedness secured hereby may increase or decrease from time to time, but the total unpaid principal balance of indebtedness secured hereby (including disbursements that the Lenders may, but shall not be obligated to, make under this Mortgage, the Loan Documents or any other document with respect thereto) at any one time outstanding may be substantially less but shall not exceed Seventy-One Million Five Hundred Thousand and No/100 Dollars ($71,500,000.00), plus interest thereon, and any disbursements made for the enforcement of this Mortgage and the other Loan Documents and any remedies hereunder, payment of taxes, special assessments, utilities or insurance on the Property or any other Project and interest on such disbursements and all disbursements by Mortgagee pursuant to applicable law (all such indebtedness being hereinafter referred to as the maximum amount secured hereby). This Mortgage shall be valid and have priority to the extent of the maximum amount secured hereby over all subsequent liens and encumbrances, including statutory liens, excepting solely taxes and assessments levied on the Property given priority by law.

  • 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 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.

  • Investments, Loans, Advances, Guarantees and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

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