Common use of REQUESTS FOR EQUIPMENT LOANS Clause in Contracts

REQUESTS FOR EQUIPMENT LOANS. Requests for Equipment Loans hereunder shall be in writing duly executed by Borrower in a form satisfactory to Bank and shall contain a certification (i) setting forth, in reasonable detail, (a) the amount of the requested Equipment Loan, (b) a reasonably detailed description of the equipment purchased or to be purchased with the proceeds of such Equipment Loan (including the serial number, model and make of such equipment, if applicable), and the location at which the equipment will be located, and (c) a copy of the invoice for such equipment, (ii) that, upon the purchase thereof by Borrower, such equipment will constitute Qualified Equipment, and (iii) that no Default or Event of Default shall be continuing on the date of such requested Equipment Loan or after giving effect thereto and to the use of proceeds thereof. Anything herein to the contrary notwithstanding, Bank shall not be obligated to make any Equipment Loan to Borrower while any Default or Event of Default shall be continuing, or if any Default or Event of Default would arise from the making of such Equipment Loan or the use of the proceeds thereof. Bank shall not be required to make any Equipment Loan requested by Borrower hereunder unless the amount of such Equipment Loan is equal to at least $10,000, or, if less, the entire unused amount of Bank's commitment to make Equipment Loans hereunder.

REQUESTS FOR EQUIPMENT LOANS. Requests for Equipment Loans hereunder shall be in writing duly executed by Borrower in a form satisfactory to Bank and shall contain a certification (i) setting forth, in reasonable detail, (a) the amount of the requested Equipment Loan, (b) a reasonably detailed description of the equipment purchased or to be purchased with the proceeds of such Equipment Loan (including the serial number, model and make of such equipment, if applicable), and the location at which the equipment will be located, and (c) a copy of the invoice for such equipment, (ii) that, upon the purchase thereof by Borrower, such equipment will constitute Qualified Equipment, and (iii) that no Default or Event of Default shall be continuing on the date of such requested Equipment Loan or after giving effect thereto and to the use of proceeds thereof. Anything herein to the contrary notwithstanding, Bank shall not be obligated to make any Equipment Loan to Borrower while any Default or Event of Default shall be continuing, or if any Default or Event of Default would arise from the making of such Equipment Loan or the use of the proceeds thereof. Bank shall not be required to make any Equipment Loan requested by Borrower hereunder unless the amount of such Equipment Loan is equal to at least $10,00050,000, or, if less, the entire unused amount of Bank's commitment to make Equipment Loans hereunder.

REQUESTS FOR EQUIPMENT LOANS. Requests for Equipment Loans hereunder shall be in writing duly executed by Borrower in a form satisfactory to Bank and shall contain a certification (i) setting forth, in reasonable detail, (a) the amount of the requested Equipment Loan, (b) a reasonably detailed description of the equipment purchased or to be purchased with the proceeds of such Equipment Loan (including the serial number, model and make of such equipment, if applicable), and the location at which the equipment will be located, and (c) a copy of the invoice invoices for the equipment to be financed with such equipmentEquipment Loan, (ii) that, upon the purchase thereof by Borrower, such equipment will constitute Qualified Equipment, and (iii) that no Default or Event of Default shall be continuing on the date of such requested Equipment Loan or after giving effect thereto and to the use of proceeds thereof. Anything herein to the contrary notwithstanding, Bank shall not be obligated to make any Equipment Loan to Borrower while any Default or Event of Default shall be continuing, or if any Default or Event of Default would arise from the making of such Equipment Loan or the use of the proceeds thereof. Bank shall not be required to make any Equipment Loan requested by Borrower hereunder unless the amount of such Equipment Loan (it being understood that the Equipment Loan may finance several pieces of Qualified Equipment) is equal to at least $10,000, or, if less, the entire unused amount of Bank's commitment to make Equipment Loans hereunder.