Approved OA Project definition
Approved OA Project means an OA Project in connection with which Borrower has requested an Advance hereunder and which has been previously approved by Lender in the exercise of its reasonable discretion.
Examples of Approved OA Project in a sentence
Except in connection with a Permitted Capital Expenditure or an Approved OA Project, Borrower shall not, directly or indirectly, make or commit to make capital expenditures by lease, purchase, or otherwise, except in the ordinary and usual course of business for the purpose of replacing machinery, equipment or other personal property which, as a consequence of wear, duplication or obsolescence, is no longer used or necessary in Borrower’s business.