Examples of CapEx Borrowing in a sentence
Roberts’ Rule of Order shall govern the procedure of all meetings of this Association.
Such Second Amendment Amenities CapEx Borrowing shall be funded not later than the expiration of such three- Business Day period unless, within such three-Business Day period, Administrative Agent notifies Borrower in writing that such Second Amendment Amenities CapEx Borrowing does not comply with the terms hereof (together with reasonable detail regarding the basis for such determination).
Notwithstanding anything to the contrary herein, an ABR Revolving Borrowing may be in an aggregate amount (i) that is equal to the entire unused balance of the aggregate Revolving Commitments or (ii) that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.18(e); provided, further, that, with respect to any Amenities CapEx Borrowing, the minimum borrowing requirement shall be $500,000 and the integral multiple requirements shall not apply.
Administrative Agent shall have three (3) Business Days to review each such certificate and the related request for a Second Amendment Amenities CapEx Borrowing.
If no election as to the Type of CapEx Borrowing is specified on the CapEx Draw Request, then the requested CapEx Borrowing shall be a CBFR Borrowing.
Until the CapEx Commitment Termination Date, Borrower may borrow under this Section 1.1(c); provided that after giving effect to such CapEx Advance, the CapEx Loan shall not exceed CapEx Borrowing Availability at such time, measured on a pro forma basis for any Eligible CapEx Equipment to be purchased with such CapEx Advance, and the other conditions precedent set forth in Sections 2.2 and 2.3 shall have been satisfied.
Furthermore, (1) on the CapEx Commitment Termination Date, each Lender’s CapEx Commitment shall be reduced to zero, and (2) with each CapEx Borrowing, each CapEx Lender’s CapEx Commitment shall be reduced by the amount of CapEx Advances funded by such Lender in connection with such CapEx Borrowing.
Until the CapEx Commitment Termination Date, Borrower may borrow under this Section 1.1(c); provided that after giving effect to such CapEx Advance, the CapEx Loan shall not exceed CapEx Borrowing Availability at such time, proforma for any Eligible CapEx Equipment to purchased with such CapEx Advance.