Capital Expenditure Loan Sample Clauses

Capital Expenditure Loan. Subject to the terms and conditions of this Agreement, Foothill agrees to make a series of term loans to Borrower in an aggregate amount at any one time outstanding of up to One Million Dollars ($1,000,000) (the “Capital Expenditure Loan Commitment”), to be evidenced by and repayable in accordance with the terms and conditions of a single promissory note (the “Capital Expenditure Loan Note”), substantially in the form of Exhibit C-1 attached hereto, executed by Borrower in favor of Foothill. Each such term loan shall be made by Foothill at such times and in such amounts as Borrower may request in writing, shall be advanced directly to the applicable vendor or Borrower, as the case may be, and once borrowed may be repaid or prepaid without penalty and then, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement. The foregoing notwithstanding: (i) each borrowing of a Capital Expenditure Loan shall be in a minimum principal amount of One Hundred Thousand Dollars ($100,000), or such lesser amount as is the then unfunded balance of the Capital Expenditure Loan Commitment; (ii) each borrowing of a term loan shall be in an amount, as determined by Foothill, up to eighty percent (80%) of Borrower’s invoice cost (net of installation and other so-called ‘soft costs’) of new Equipment to be purchased by Borrower, that is acceptable to Foothill in all respects and that is not to be affixed to real property or become installed in or affixed to other goods; and (iii) the aggregate amount of Capital Expenditure Loans shall not exceed the lesser of cost or fair market value, at the time of acquisition or construction, of the Equipment so acquired or constructed. All amounts evidenced by the Capital Expenditure Loan Note shall constitute Obligations.
Sample 1
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Capital Expenditure Loan. Subject to the terms and conditions of this Agreement and the Other Agreements, absent the existence of an Event of Default upon request by Borrower, LaSalle shall make one or more Capital Expenditure Advances to Borrower for the acquisition of Eligible Capital Expenditures in the maximum aggregate principal amount outstanding at any one time of Five Hundred Thousand Dollars ($500,000.00) ("Capital Expenditure Loan"). Principal payable on account of the Capital Expenditure Loan shall be payable in accordance with the terms of the Capital Expenditure Loan Note. Notwithstanding anything hereinabove to the contrary, the entire unpaid principal balance of the Capital Expenditure Loan, and any accrued and unpaid interest thereon, shall be immediately due and payable upon the earlier to occur of (i) the last day of the Original Term or the last day of any Renewal Term, if either LaSalle or Borrower elects to terminate this Agreement as of the end of the Original or any Renewal Term, or (ii) the acceleration of the Obligations pursuant to paragraph 17 of this Agreement. Capital Expenditure Advances shall be made between the Closing Date and the date occurring six (6) months after the Closing Date, for the acquisition of Eligible Capital Expenditures. Capital Expenditure Advances shall be provided to Borrower upon the receipt by LaSalle of a written request for such advance together with invoices to evidence the cost of the capital asset for which the advance is being requested, and such other information as LaSalle may request. Each Capital Expenditure Advance shall be in a minimum amount of One Hundred Fifty Thousand Dollars ($150,000.00). LaSalle shall have no obligation to advance to Borrower more than eighty percent (80%) of the net invoice cost (less the value of all rebates, trade-ins, taxes, labor and shipping and installation charges) of any Eligible Capital Expenditure.
Sample 1
Capital Expenditure Loan. (a) Subject to the terms and conditions hereof, each Lender agrees to make available from time to time, until December 31, 1999, in connection with the financing of Capital Expenditures constituting the acquisition cost of Equipment, its Pro Rata Share of advances (each, a "Capital Expenditure Advance") under the Capital Expenditure Loan. The aggregate Capital Expenditure Advances incurred during the term of this Agreement shall not exceed the Capital Expenditure Loan Commitment. In addition, each Capital Expenditure Advance shall not exceed the lesser of (x) the Maximum Capital Expenditure Advance Amount or (y) Capital Expenditure Loan Availability as of the date of such Capital Expenditure Advance. Amounts from time to time borrowed under this Section 1.3(a) and repaid may not be reborrowed. Each Capital Expenditure Advance must be in a minimum amount of $500,000 and integral multiples of $500,000 in excess of such amount. Subject to the additional advance notice requirements set forth in Section 2.3, each Capital Expenditure Advance shall be made on notice by Borrower to the individual responsible for Borrower as identified on Annex E at the address specified thereon, given no later than (1) 11:30 a.m. (Chicago time) on the Business Day of the proposed Capital Expenditure Advance, in the case of an Index Rate Loan and (2) 11:30 a.m. (Chicago time) on the date which is two Business Days prior to the proposed Capital Expenditure Advance, in the case of a LIBOR Loan. Each such notice (a "Notice of Capital Expenditure Advance") shall be substantially in the form of Exhibit E, specifying therein the requested date, the amount of such Capital Expenditure Advance, and such other information as may be required by Agent and shall be given in writing (by telecopy, telex or cable) or by telephone confirmed immediately in writing. If Borrower desires to have the Capital Expenditure Advance bear interest by reference to a LIBOR Rate, it must comply with Section 1.9(f). Agent shall be entitled to rely upon, and shall be fully protected under this Agreement in relying upon, any Notice of Capital Expenditure Advance believed by Agent to be genuine and to assume that each Person executing and delivering the same was duly authorized unless the responsible individual, or a designee thereof, acting thereon for Agent shall have, at the time of reliance thereon, actual knowledge to the contrary.
Sample 1
Capital Expenditure Loan. Subject to the terms and conditions of this Agreement, the Bank agrees to lend and re-lend to the Borrower at any time and from time to time on and after the date hereof and prior to April 30, 1999 (the `Draw Period''), an aggregate principal amount not to exceed at any one time outstanding, $1,250,000 ("Maximum Capital Expenditure Loan Amount"). Funds advanced under the Capital Expenditure Loan shall be used to finance Borrower's capital expenditures. All such loans hereunder will be made from time to time in the reasonable discretion of the Bank, and neither this Agreement nor any loans or other action by the Bank shall obligate the Bank to make further loans to the Borrower. Notwithstanding the foregoing, Bank shall be required to make loans hereunder to Borrower provided that no Event of Default, as hereinafter defined, exists or is continuing.
Sample 1
Capital Expenditure Loan. The Lender has made a Capital Expenditure Loan to the Borrower before the date of the Fourth Amendment, the Borrower's obligations to pay which are evidenced by the Capital Expenditure Note of the Borrower dated December 9, 1994, payable to the order of the Lender in the original principal amount of $400,000 (the "Existing Capital Expenditure Note"). As of the date hereof, the outstanding principal balance of the Existing Capital Expenditure Note is $273,333. The Lender agrees to make additional Capital Expenditure Loans to the Borrower in the amount of $200,000, which shall be used to finance capital expenditures through September 30, 1997 (the indebtedness evidenced by the Existing Capital Expenditure Note, together with all new advances made under this Section 2.2 may be referred to hereinafter collectively as the "Capital Expenditure Loan"). The Borrower's obligation to pay the Capital Expenditure Loan shall be evidenced by the Borrower's promissory note in the original principal amount of $473,333 (the "Capital Expenditure Note"), substantially in the form of Exhibit A to the Fourth Amendment and shall be secured pursuant to the Credit Agreement and the Security Documents as therein defined. The principal amount of the Capital Expenditure Loan shall be payable in thirty-six (36) consecutive monthly installments of Six Thousand Three Hundred Forty-Two Dollars ($6,342), commencing on January 1, 1997, with a payment of all unpaid principal and other Obligations on the earliest of termination of the Revolving Credit Facility, demand by the Lender or the Termination Date. The Capital Expenditure Note is issued in substitution for and replacement of, but not in payment of, the Existing Capital Expenditure Note.
Sample 1
Capital Expenditure Loan. The Lender has made a capital expenditure loan to the Borrower before the date of the Fifth Amendment (the "Capital Expenditure Loan"), the Borrower's obligations to pay which are evidenced by the promissory note of the Borrower dated December 20, 1996, payable to the order of the Lender in the original principal amount of $473,333 (the "Capital Expenditure Loan Note"). The principal amount of the Capital Expenditure Loan shall be payable in thirty-six (36) consecutive monthly installments of Six Thousand Three Hundred Forty-Two Dollars ($6,342), commencing on January 1, 1997, with a payment of all unpaid principal and other obligations on the earliest of termination of the Revolving Credit Facility, demand by the Lender or the Termination Date.
Sample 1
Capital Expenditure Loan. 17 2.4 Overadvances................................... 18 2.5 Interest: Rates, Payments, and Calculations... 18 2.6
Sample 1
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Capital Expenditure Loan. The Agent shall pay to each Formula Lender on each Interest Payment Date and date provided in the Capital Expenditure Line Notes or Capital Expenditure Line Installment Payment Schedule, as the case may be, such Formula Lender's Capital Expenditure Line Pro Rata Share of all payments received by the Agent in immediately available funds on account of the Capital Expenditure Line, net of any amounts payable by such Formula Lender to the Agent, by wire transfer of same day funds; the amount payable to each Formula Lender shall be based on the principal amount of the Capital Expenditure Line owing to such Formula Lender.
Sample 1

Related to Capital Expenditure Loan

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Capital Expenditures, etc With respect to Capital Expenditures, the parties covenant and agree as follows:

  • Maximum Capital Expenditures Make or commit to make, or allow any of its Subsidiaries to make or commit to make, Capital Expenditures exceeding, in the aggregate for each Fiscal Year until the Termination Date, the greater of (A) EBITDA for such Fiscal Year, less the sum of (I) cash interest expense for such Fiscal Year, plus (II) amounts paid under Section 2.03 and all principal payments under the GECC Capital Lease and the NTFC Capital Lease (a) during Fiscal Year 2002 (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2003) or (b) during Fiscal Year 2004 or the applicable Fiscal Year thereafter (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2004 or the applicable succeeding Fiscal Year, as the case may be), or (B) $10,000,000 for Fiscal Year 2003 and $15,000,000 for each Fiscal Year thereafter. For purposes of calculating maximum Capital Expenditures, the amount calculated in item (II) above shall be deemed not to have exceeded $20,000,000 for Fiscal Year 2004 and shall be deemed not to have exceeded $30,000,000 for Fiscal Year 2005. Compliance with this Section 5.02(q)(i) shall be measured at the end of each Fiscal Year, commencing with Fiscal Year 2003. To the extent the Borrower’s actual Capital Expenditures for any Fiscal Year are less than the maximum Capital Expenditures for such Fiscal Year computed as aforesaid, the Borrower may increase Capital Expenditures for the subsequent Fiscal Year by an amount equal to the amount by which such maximum Capital Expenditures exceed such actual Capital Expenditures, but not by an amount which exceeds $5,000,000. For the purposes of this Section 5.02(q)(i) only, Capital Expenditures shall not include the Contingent Payments and any payment made in respect of that certain litigation arising from or in relating in any way to the use of rights of way granted to the Borrower by Mississippi Power Company; provided, that, to the extent that payment made in respect of such litigation is equal to or greater than $5,000,000, the Borrower shall deliver to the Agent prior to the payment thereof, a statement that the Borrower will have not less than $11,500,000 in cash and Cash Equivalents (excluding any insurance proceeds deposited with the Collateral Agent as described in clause (C) of the proviso in the definition of “Extraordinary Receipts”) after making such payment, certified by the Chief Financial Officer of the Parent.

  • Consolidated Capital Expenditures Holdings and Company shall not, and shall not permit their Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year (or portion of a Fiscal Year set forth below) in an aggregate amount in excess of the amount set forth below opposite such Fiscal Year (the “Maximum Consolidated Capital Expenditures Amount”): Fiscal Year Maximum Consolidated Capital Expenditures Amount Portion of Fiscal Year 2007 occurring following the Closing Date $ 10,000,000 2008 $ 11,000,000 2009 $ 12,000,000 2010 $ 13,000,000 2011 $ 14,000,000 2012 $ 15,000,000 2013 $ 16,000,000 Portion of Fiscal Year 2014 occurring prior to the Term Loan Maturity Date $ 17,000,000 provided that the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased by an amount equal to the excess, if any, of the Maximum Consolidated Capital Expenditures Amount for the previous Fiscal Year (without giving effect to any adjustment in accordance with this proviso) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year (with Capital Expenditures in any Fiscal Year being deemed to have been made first from any amount carried forward from the preceding Fiscal Year), and may be further increased at the option of Company by an amount equal to 50% of the Maximum Consolidated Capital Expenditures Amount for the succeeding Fiscal Year; provided, further, that in addition to the amounts set forth above, Holdings and its Subsidiaries may make Consolidated Capital Expenditures up to the Specified Equity Amount. Any usage of the succeeding Fiscal Year’s Maximum Consolidated Capital Expenditures Amount shall be deducted from the Maximum Consolidated Capital Expenditures Amount available for such succeeding Fiscal Year. After the consummation of any Permitted Acquisition permitted hereunder, the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased in an amount equal to 110% of the average annual amount of capital expenditures made by the Person or business so acquired as reflected in the financial statements of such Person or business during the two fiscal years preceding such Permitted Acquisition.

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Permitted Acquisition Prior to consummation of a Permitted Acquisition, the Borrower shall have delivered to Lender complete and correct copies of each document and agreement executed in connection therewith (collectively, the “Permitted Acquisition Documents”), including all schedules and exhibits thereto. The Permitted Acquisition Documents shall set forth the entire agreement and understanding of the Borrower and the parties thereto relating to the subject matter thereof, and there will be no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby. Borrower shall have the power, and shall have taken all necessary action (including, any necessary member or comparable owner action) to authorize it, to execute, deliver and perform in accordance with their respective terms the Permitted Acquisition Documents to which it is a party. Each of the Permitted Acquisition Documents will have been duly executed and delivered by Borrower and, to Borrower’s knowledge, each of the other parties thereto and will be the legal, valid and binding obligation of Borrower and to Borrower’s knowledge, such other parties, enforceable against Borrower and to Borrower’s knowledge, such other parties in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally. The execution, delivery and performance of the Permitted Acquisition Documents in accordance with their respective terms will not require any governmental approval or any other consent or approval, other than governmental approvals and other consents and approvals that have been obtained. All conditions precedent to the Permitted Acquisition pursuant to the Permitted Acquisition Documents shall have been fulfilled in all material respects and, as of the date of the consummation of the Permitted Acquisition, the Permitted Acquisition Documents shall not have been amended or otherwise modified and there shall not be any breach by the Borrower or, to Borrower’s knowledge, any other party thereto, of any term or condition of the Permitted Acquisition Documents. Upon consummation of the transactions contemplated by the Permitted Acquisition Documents to be consummated at the closing thereunder, the Borrower shall acquire good and legal title to the stock or assets and other property being transferred pursuant to the Permitted Acquisition Documents. None of the foregoing shall in any manner obligate the Borrower or any Subsidiary to consummate any Permitted Acquisition and the foregoing representation shall only apply if, when and to the extent that a Permitted Acquisition is consummated and the Permitted Acquisition Documents are executed and delivered.”

  • No Expenditure of Funds No provision of this Agreement shall require Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if it shall believe in good faith that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it.

  • Limitation on Capital Expenditures Make or commit to make (by way of the acquisition of securities of a Person or otherwise) any expenditure in respect of the purchase or other acquisition of fixed or capital assets (excluding any such asset acquired in connection with normal replacement and maintenance programs properly charged to current operations) except for:

  • LENDER'S EXPENDITURES If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

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