Capital Expenditure Loans. Each Lender agrees, severally on a Pro Rata Capital Expenditure Loan basis up to its Capital Expenditure Loan Commitment, on the terms set forth herein, to make Capital Expenditure Loans to Borrowers from time to time through the Capital Expenditure Commitment Termination Date.
Capital Expenditure Loans. Subject to the terms and conditions of the Loan Documents, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to Borrowers up to eighty percent (80%) of (i) the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of new Equipment, or (ii) the orderly liquidation value of used Equipment (as determined by an appraiser acceptable to Lender in its sole discretion), to be purchased with the proceeds of such advances, which Equipment is acceptable to Lender in its sole discretion, and upon which Lender shall have a first priority perfected security interest; provided, that (A) the aggregate amount advanced for such purchases shall not exceed One Million Dollars ($1,000,000), (B) at least three (3) Business Days prior to any such advance hereunder, such Borrower shall have furnished to Lender an invoice and acceptance letter for the Equipment being purchased, executed such documents and taken such other actions as Lender shall require to assure that Lender has a first priority perfected security interest in such Equipment, including, without limitation, obtaining legal title to and taking delivery of such Equipment, and (C) each advance hereunder shall be in an amount of not less than Two Hundred Thousand Dollars ($200,000). Amounts repaid with respect to the Capital Expenditure Loans may not be reborrowed.
Capital Expenditure Loans. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to Borrower up to eighty percent (80%) of the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of Equipment to be purchased with the proceeds of such advances, which Equipment is acceptable to Lender in its sole discretion, and upon which Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced for such purchases shall not exceed One Million and No/100 Dollars ($1,000,000.00), (ii) at least ten (10) Business Days prior to any such advance hereunder, Borrower shall have furnished to Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender shall required to assure that Lender has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Two Hundred Thousand and No/100 Dollars ($200,000.00). The Capital Expenditure Loans shall be evidenced by the Capital Expenditure Note.
Capital Expenditure Loans. Upon the terms and subject to the conditions of, and in reliance upon the representations and warranties made under, this Agreement, each Lender agrees, severally, but not jointly, to make Capital Expenditure Loans to the Borrowers from time to time from the Effective Date to May 25, 2000, as requested by the Borrowers in accordance with the terms of Section 2B.2, in amounts equal to such Lender's Commitment Percentage of each such Capital Expenditure Loan requested; provided, however, that (a) (i) the aggregate principal amount of all Capital Expenditure Loans (after giving effect to the Loans requested) made hereunder shall not exceed the Capital Expenditure Loan Facility, and (ii) the aggregate principal amount of all Capital Expenditure Loans (after giving effect to the Loans requested) plus the aggregate principal amount of all outstanding Revolving Credit Loans plus the Letter of Credit Reserve shall not exceed $100,000,000, (b) each Capital Expenditure Loan shall be in a minimum principal amount of $500,000, (c) no more than one Capital Expenditure Loan shall be requested in any calendar month, (d) each Capital Expenditure Loan shall be in a principal amount not to exceed 80% (or such lesser percentage as the Agent may in its reasonable judgment determine from time to time) of the invoice cost (net of sales taxes, freight and delivery charges, and set-up charges) of item(s) of Equipment to be financed with the proceeds of such Capital Expenditure Loan, and (e) no Capital Expenditure Loan will be made against any item of Equipment which does not constitute Eligible Equipment. As used herein, "Eligible Equipment" means new Equipment purchased by the Borrowers after the Effective Date which meets the following requirements: (i) such Equipment is owned by and has been delivered to a Borrower and is subject to the perfected Security Interest and no other Lien whatsoever other than junior Permitted Liens, (ii) such Equipment is in good condition, complies with the applicable purchase order and has been accepted by a Borrower, (iii) if such Equipment is (or is to be) located at a facility leased by a Borrower, the lessor has delivered to the Agent, on behalf of the Lenders, a waiver and consent in form and substance satisfactory to the Agent, and (iv) such Equipment is not determined by the Agent, on behalf of the Lenders, in its reasonable judgment, to be ineligible for any other reason. The Agent's and each Lender's books and records reflecting the date ...
Capital Expenditure Loans. (a) In addition to the other credit provided under this Agreement, during the availability period set forth below, unless a Default or Event of Default exists under this Agreement, Borrower may request Capital Expenditure Loans from Bank in an aggregate principal amount not to exceed $6,000,000. The availability period for such loans is from the date of this Agreement through January 30, 2001. Any amount repaid with respect to Capital Expenditure Loans may not be reborrowed.
Capital Expenditure Loans. (a) After the Partnership Note is paid in full, Star shall lend or shall arrange for loans to be made to the Partnership (“Capital Expenditure Commitment”), up to an aggregate amount of $15 million, to finance expenditures for capital assets or acquisitions of properties which the Partnership (with the consent of both partners) proposes to acquire (“Capital Expenditure Loans”). Capital Expenditure Loans shall not be used for working capital or to meet day to day obligations or trade liabilities. The Capital Expenditure Commitment shall be guaranteed by CPE. The Partnership shall not be entitled to reborrow the Capital Expenditure Loans when repaid. Capital Expenditure Loans shall bear interest at the rate of not more than 11% per annum and in the case of a Capital Expenditure Loan made by Star, the rate shall be 11% per annum. If the Partnership obtains a loan from a person other than Star to finance capital expenditures or acquisitions which bears a variable interest rate, then at such time as such interest rate exceeds 11% per annum the Partnership shall, at the request of the Xxxxx Partner, be entitled to draw upon the Capital Expenditure Commitment to the extent available to refund or refinance such loan. Each Capital Expenditure Loan shall be repayable in 120 equal consecutive installments comprising principal and interest, sufficient to repay such Capital Expenditure Loan in fixed level installments over 10 years, with the first such installment due on the first day of the month following the date the Theatre Property which is the subject of such loan is opened (in the case of new construction) or acquired (in the case of an acquisition) or the date the capital assets which are the subject of such loan are acquired. All Capital Expenditure Loans shall be evidenced by a Promissory Note of the Partnership in form satisfactory to the Partners, and will be secured by each Partner’s interest in the Partnership and by all of the assets of the Partnership but otherwise shall be without recourse to the Partners. After the Capital Expenditure Loans shall have been expended by the Partnership, the Partners shall meet to discuss in good faith the method of financing further capital expenditures and acquisitions.
Capital Expenditure Loans. Section 2(d) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
Capital Expenditure Loans. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to Borrower up to eighty percent (80%) of the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of Equipment to be purchased with the proceeds of such advances, (including, without limitation, Equipment purchased since June 30, 2001) which Equipment is acceptable to Lender in its sole discretion, and upon which Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced for such purchases shall not exceed Four Million and No/100 Dollars ($4,000,000.00), (ii) at least five (5) Business Days prior to any such advance hereunder, Borrower shall have furnished to Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender shall reasonably require to assure that Lender has a first priority perfected security interest in such Equipment, and (iii) all such advances hereunder shall occur on or before the date that is six (6) months after the date hereof.
Capital Expenditure Loans. 27 2.6. Maximum Revolving Advances.....................................27 2.7.
Capital Expenditure Loans. 65 4.3 Termination of the Revolver Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 4.4 Place and Form of Payments; Extension of Time . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 4.5 Payments as Revolving Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 4.6 Apportionment, Application and Reversal of Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 4.7
