Common use of Capital Expenditure Loans Clause in Contracts

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 each 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 Five Hundred Thousand and No/100 Dollars ($500,000.00), (ii) 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 and shall have 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, and (iii) each advance hereunder shall be in an amount not less than Fifty Thousand and No/100 Dollars ($50,000.00). 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 hereunderhereunder and the Initial Syndication has been completed, each Lender shall severally and not jointly agrees to make advances to each Borrower Cantar U.S. in an amount equal to the lesser of (i) 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, and (ii) up to eighty percent (80%) of the orderly liquidation value (as determined by an appraiser reasonably acceptable to Agent) of Equipment to be purchased with the proceeds of such advances, in each case, which Equipment is acceptable to Lender Agent in its sole discretion, and upon which Lender Agent shall have a first priority perfected security interest; provided, that (i) the aggregate original amount advanced by all Lenders for such purchases shall not exceed Five Hundred Thousand Million and No/100 Dollars ($500,000.00)5,000,000.00) and the aggregate amount advanced by any Lender shall not exceed its Capital Expenditure Loan Commitment, (ii) at least three (3) 10 Business Days prior to any such advance hereunder, such Borrower Cantar U.S. shall have furnished to Lender Agent an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender Agent shall require to assure that Lender Agent has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Fifty One Hundred Thousand and No/100 Dollars ($50,000.00100,000). 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 but in no event after the date which is six months prior to the last day of the Term, Agent shall make advances to each Borrower the Borrowers 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 Agent in its sole reasonable discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced during the Term for such purchases shall not exceed Five Hundred Thousand and No/100 One Million Dollars ($500,000.001,000,000), (ii) at least three five (35) Business Days prior to any such advance hereunder, such Borrower the Borrowers shall have furnished to Lender Agent an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender Agent shall require required to assure that Lender Agent 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 Fifty Thousand and No/100 Dollars ($50,000.00250,000), and (iv) the Borrowers shall have executed and delivered to Agent a CapEx Note in the form of Exhibit D annexed hereto. Amounts repaid with respect to the Capital Expenditure Loans may The CapEx Line shall not be reborrowedavailable for further advances at any time during which a Default or Event of Default has occurred unless the Agent in its sole discretion waives such Default or Event of Default in writing.

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 shall, absent the occurrence of an Event of Default, make advances to each 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 Five Hundred Thousand Two Million and No/100 Dollars ($500,000.002,000,000), (ii) at least three five (35) 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 and shall have 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, and (iii) each advance hereunder shall be in an amount not less than Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000). 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 AgreementsLoan Documents, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to each Borrower 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 (iA) the aggregate amount advanced for such purchases shall not exceed Five Hundred Thousand and No/100 One Million Dollars ($500,000.001,000,000), (iiB) 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 and shall have 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 (iiiC) each advance hereunder shall be in an amount of not less than Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000). 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 (each such advance, a "CAPITAL EXPENDITURE LOAN") to each Borrower the Borrowers of up to eighty seventy-five percent (8075%) of the purchase price net invoice cost (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, exercised in a commercially reasonable manner, and upon which Lender shall have a first priority perfected security interest; providedPROVIDED, that (i) the aggregate principal amount of Capital Expenditure Loans advanced for such purchases hereunder shall not exceed One Million Five Hundred Thousand and No/100 Dollars ($500,000.001,500,000) (the "CAPITAL EXPENDITURE LOAN LIMIT"), (ii) at least three five (35) Business Days prior to any such advance Capital Expenditure Loan advanced hereunder, such the Borrower requesting the Capital Expenditure Loan 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 require to assure that Lender has a first priority perfected security interest in such Equipment, and (iii) each advance Capital Expenditure Loan advanced hereunder shall be in an amount of not less than Fifty One Hundred Thousand and No/100 Dollars ($50,000.00100,000). Amounts repaid with respect , and (iv) such Borrower shall have executed and delivered to Lender a promissory note in the form OF EXHIBIT D annexed hereto, in a principal amount equal to the amount of the Capital Expenditure Loans may not Loan to be reborrowedmade to such Borrower.