Examples of CapEx Term Loan in a sentence
In the event such notice is not received by Lender within such thirty (30) day period, or such replacement Equipment is not purchased within ninety (90) days after such notice is received by Lender, said proceeds shall be immediately applied by Lender in respect of the Cap/Ex Term Loan.
Subject to Section 7.13, Borrower may, upon at least 3 Business Days prior written notice to Lender, prepay the principal of the Equipment Term Loan or any CapEx Term Loan in whole or in part.
Each CapEx Term Loan shall be in an amount of not less than $500,000.
Lender shall not be obligated to provide any Advances or any CapEx Term Loan during any period that an Overadvance Amount is outstanding.
Borrower shall notify Bank in writing at least ten (10) Business Days prior to the Business Day on which the proposed CapEx Term Loan is to be made of its request for a CapEx Term Loan.
Notwithstanding any amortization schedule for advances made under the CapEx Term Loan Facility, upon the effective date of any termination of this Agreement under SECTION 11 or SECTION 13 hereof, all amounts then outstanding under the CapEx Term Loan Facility shall become immediately due and payable without notice or demand.
So long as no Event of Default shall have occurred and is continuing, each such prepayment shall be applied against the remaining installments of principal due on the Equipment Term Loan or any CapEx Term Loan, as applicable, in the inverse order of maturity.
Proceeds of Advances shall not be used by Borrower to make a prepayment of the Equipment Term Loan or any CapEx Term Loan.
The obligation of Lender to continue to make Advances or make any CapEx Term Loan (or otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the conditions subsequent set forth on Exhibit C (the failure by Borrower to so perform or cause to be performed such conditions subsequent as and when required by the terms thereof, shall constitute an Event of Default).
Notwithstanding the terms of this Agreement, in no event shall Bank be obligated to make CapEx Term Loans if, either immediately before or after giving effect to any such CapEx Term Loan, (i) a Deficiency has occurred or shall occur, or (ii) an Event of Default has occurred or shall occur.