Supplemental Equipment Advances Sample Clauses

Supplemental Equipment Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Supplemental Equipment Advance set forth in this Agreement, to obtain a Supplemental Equipment Advance, Borrower must notify Bank (which notice shall be irrevocable) by electronic mail or facsimile no later than 12:00 p.m. Pacific time one (1) Business Day before the proposed Funding Date. The notice shall be a Payment/Advance Form, must be signed by a Responsible Officer or designee, and shall include a copy of the invoice for the Equipment being financed. Borrower shall also deliver to Bank by electronic mail or facsimile a completed Loan Supplement, executed by a Responsible Officer or his or her designee, copies of invoices for the Financed Equipment and such additional information as Bank may reasonably request at least five (5) Business Days before the proposed Funding Date, At Bank’s discretion, Bank shall have the opportunity to confirm that, upon filing the UCC-1 financing statement covering the Equipment described on the Loan Supplement, Bank shall have a first priority perfected security interest in such Equipment If Borrower satisfies the conditions of each Supplemental Equipment Advance, Bank shall disburse such Supplemental Equipment Advance by transfer to the Designated Deposit Account.
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Supplemental Equipment Advances. Subject to Section 2.3(b), the outstanding principal amount of the Supplemental Equipment Advances shall accrue interest at a fixed per annum rate equal to five and one-half percent (5.50%), which shall be payable monthly.
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Supplemental Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from and after the Private Placement through March 5, 2000 (the "Supplemental Equipment Availability End Date One"), Borrower may from time to time request advances (each together with the advances described in subsection (b) below, an "Supplemental Equipment Advance" and collectively, the "Supplemental Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Supplemental Equipment Line. Amounts borrowed pursuant to this Section 2.1.3(a) may not be readvanced. All Supplemental Equipment Advances made prior to the Supplemental Equipment Availability End Date One shall be evidenced by a Supplemental Equipment Term Note ("Supplemental Equipment Term Note No. 1") to be executed and delivered by the Borrower to Bank on the Closing Date. All Supplemental Equipment Advances made prior to the Supplemental Equipment Availability End Date One shall be repaid in accordance with the terms of Supplemental Equipment Term Note No. 1.
Sample 1
Supplemental Equipment Advances. The following Section is added to the Loan Agreement, immediately after Section 2.1.3, as Section 2.1.4:
Sample 1
Supplemental Equipment Advances. (a) Through March 31, 2006 (the “Supplemental Equipment Availability End Date”), Bank will make advances (each a “Supplemental Equipment Advance” and, collectively, “Supplemental Equipment Advances”) not exceeding the Supplemental Committed Equipment Line. The Supplemental Equipment Advances may only be used to finance or refinance Eligible Equipment or Other Equipment purchased on or after ninety (90) days before the date of each Supplemental Equipment Advance; provided, however, that if the first Supplemental Equipment Advance is made on or before May___, 2005 [thirty days], it may be used to finance or refinance Eligible Equipment purchased after January 1, 2005. Supplemental Equipment Advances may not exceed one hundred percent (100%) of the invoice for Eligible Equipment, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Other Equipment may constitute up to forty percent (40%) of the aggregate amount of all Supplemental Equipment Advances. Each Supplemental Equipment Advance must be for a minimum of Fifty Thousand Dollars ($50,000). The number of Supplemental Equipment Advances is limited to six (6).
Sample 1
Supplemental Equipment Advances. To obtain a Supplemental Equipment Advance, Borrower must notify Bank (the notice is irrevocable) by facsimile no later than 12:00 p.m. Pacific time one (1) Business Day before the day on which the Supplemental Equipment Advance is to be made. The notice in the form of Exhibit B (Payment/Advance Form) must be signed by a Responsible Officer or designee and include a copy of the invoice for the Eligible Equipment being financed.
Sample 1
Supplemental Equipment Advances. (a) Subject to the terms and conditions of this Agreement, Bank agrees to lend to Borrowers, from time to time prior to the Tranche I Supplemental Equipment Termination Date or the Tranche II Supplemental Equipment Termination Date, as applicable, equipment advances (each a "Supplemental Equipment Advance" and collectively the "Supplemental Equipment Advances") in an aggregate amount not to exceed the Committed Supplemental Equipment Loan. The Committed Supplemental Equipment Loan will be advanced in two (2) tranches. The first tranche shall consist of a single Supplemental Equipment Advance in an amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000) which may be requested by Borrowers on or before the Tranche I Supplemental Equipment Termination Date (the "Tranche I Supplemental Equipment Advance"). The second tranche shall consist of a single Supplemental Equipment Advance in an amount not to exceed Five Hundred Thousand Dollars ($500,000) which may be requested by Borrowers on or before the Tranche II Supplemental Equipment Termination Date (the "Tranche II Supplemental Equipment Advance"). Notwithstanding the foregoing, Bank shall have no obligation to (i) make the Tranche I Supplemental Equipment Advance until Borrowers have obtained an equipment financing facility in a principal amount of not less than Three Million Dollars ($3,000,000), which specific equipment financing facility shall be acceptable to Bank in all respects, or (ii) make the Tranche II Supplemental Equipment Advance until such time as either (a) the Company has closed and funded on the sale of additional shares of the Company's stock to investors acceptable to Bank in Bank's reasonable discretion in an amount of not less than Ten Million Dollars ($10,000,000) (the "Equity Closing Date"), or (b) the Obligations for the Tranche II Supplemental Equipment Advance are guaranteed by an institutional investor of the Company which shall be satisfactory to Bank (the "Guarantor") pursuant to Bank's standard form of guaranty agreement (the "Guaranty Agreement"), provided, that Bank agrees that provided no Event of Default has then occurred it shall release the Guarantor's obligations under the Guaranty Agreement upon the Equity Closing Date. One hundred percent (100%) of the Supplemental Equipment Advances must be used to purchase Equipment, software, leasehold improvements or other soft costs, including, without limitation, taxes, shipping, warranty charges, freight disco...
Sample 1
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Related to Supplemental Equipment Advances

  • 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 0.50% above the Prime Rate.

  • 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.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Loan Advances The Lender agrees to make advances to the Borrower from time to time until December 1, 1995, subject to all of the terms and conditions of this Agreement. All requests by the Borrower for advances shall be made in such manner and form and with such prior notice to the Lender as the Lender may reasonably require from time to time. Each request for an advance shall be for a minimum amount of $50,000.00. Each such request shall contain or be accompanied by such information and documents (which shall be Certified if required by the Lender) concerning the Collateral, the Borrower's financial condition, use of the proceeds of such advance and of advances previously made and/or any other matters as the Lender may from time to time require. In no event shall the Lender be obligated to make any advance hereunder if an Event of Default has occurred under the Note or if such advance would cause the total principal amount of advances made and outstanding hereunder to exceed the Maximum Loan Amount. Even if the total principal amount of advances outstanding shall at any time and for any reason exceed the Maximum Loan Amount, the Borrower shall nonetheless be liable for the entire principal amount outstanding, with interest thereon at the rate and calculated in the manner provided in the Note, in accordance with this Agreement and the Note. If the total principal amount of advances outstanding hereunder shall at any time exceed the Maximum Loan Amount, the Borrower shall immediately pay to the Lender upon demand the amount of such excess, with interest thereon at the rate and calculated in the manner provided in the Note. The Borrower agrees that the Borrower shall be liable for, and the Collateral shall secure, the repayment of each advance made by the Lender to or for the Borrower hereunder, with interest at the rate and calculated in the manner provided in the Note, whether or not such advance was duly requested or authorized by the Borrower and whether or not any person requesting such advance was duly authorized to make such request. Subject to all of the terms and conditions of this Agreement and the other Loan Documents, the Borrower may borrow hereunder until December 1, 1995. Borrower acknowledges and agrees that on December 1, 1995, the Lender shall advance to the Borrower the balance of the Loan, should such funds not have been previously advanced by the Lender.

  • Equipment Loans Section 2.3(b) of the Loan Agreement shall be amended and restated in its entirety as follows:

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.8.2 [Capital Requirements] and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

  • Equipment, Etc Each Grantor shall, (i) within ten (10) days after a written request by the Administrative Agent, in the case of Equipment now owned, and (ii) following a request by the Administrative Agent pursuant to subclause (i) above, within ten (10) days after acquiring any other Equipment, deliver to the Administrative Agent, any and all certificates of title, and applications therefor, if any, of such Equipment and shall cause the Administrative Agent to be named as lienholder on any such certificate of title and applications. No Grantor shall permit any such items to become a fixture to real estate or an accession to other personal property unless such real estate or personal property is the subject of a fixture filing (as defined in the UCC) creating a first priority perfected Lien in favor of the Administrative Agent.

  • Additional Equipment Additional Equipment may from time to time be added as the subject matter of this Agreement as agreed on by the parties. Any additional property will be added in an amendment describing the property, the monthly rental, security deposit, and stipulated loss value of the additional Equipment. All amendments must be in writing and signed by both parties. Other than by this amendment procedure, this Agreement may not be amended, modified, or altered in any manner except in writing signed by both parties.

  • Incremental Loans Any Incremental Term Loans or Incremental Revolving Commitments effected through the establishment of one or more new term loans or new revolving credit commitments, as applicable, made on an Incremental Facility Closing Date (other than a Loan Increase) shall be designated a separate Class of Incremental Term Loans or Incremental Revolving Commitments, as applicable, for all purposes of this Agreement. On any Incremental Facility Closing Date on which any Incremental Term Commitments of any Class are effected (including through any Term Loan Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Term Lender of such Class shall make a Loan to the Borrower (an “Incremental Term Loan”) in an amount equal to its Incremental Term Commitment of such Class and (ii) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant thereto. On any Incremental Facility Closing Date on which any Incremental Revolving Commitments of any Class are effected through the establishment of one or more new revolving credit commitments (including through any Revolving Commitment Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Revolving Lender of such Class shall make its Commitment available to the Borrower (when borrowed, an “Incremental Revolving Loan” and collectively with any Incremental Term Loan, an “Incremental Loan”) in an amount equal to its Incremental Revolving Commitment of such Class and (ii) each Incremental Revolving Lender of such Class shall become a Lender hereunder with respect to the Incremental Revolving Commitment of such Class and the Incremental Revolving Loans of such Class made pursuant thereto.

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