Equipment Loan definition

Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

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Equipment Loan. Any commercial equipment loan secured by equipment used in the operation of a Mortgaged Property and listed on the Mortgage Loan Schedule.

Equipment Loan has the meaning set forth in Section 2.1.2.

Examples of Equipment Loan in a sentence

• All outstanding principal under each Equipment Term Note shall be due and payable on the applicable Equipment Loan Maturity Date.

• Notwithstanding the definition of “Equipment Loan Commitment” in Section 1, nothing contained in this Credit Agreement shall be construed to obligate Lender to make any Equipment Advances under the Equipment Loan after the earlier of (i) an Event of Default, or (ii) the Availability Date, but Lender may choose to do so in its sole discretion, and all such Equipment Advances shall in any event be secured by the Collateral.

• The credit facility established under this Section 2.3 is a non-revolving line of credit; sums borrowed and later prepaid, repaid or paid under the Equipment Loan may not be reborrowed.

• If the funds in the Operating Account are insufficient to cover any payment due under the Equipment Loan, the Lender shall not be obligated to advance funds to cover the payment.

• On or prior to the date hereof, the Borrower shall pay to the Lender an origination fee for the Equipment Loan totaling $1,875.00.

More Definitions of Equipment Loan

Equipment Loan means the loan or lease under the Equipment Loan Agreement.

Equipment Loan means that certain revolving line of credit from Bank to Equipment Loan Borrower in the aggregate original principal amount of up to Twenty Million and No/100 Dollars ($20,000,000.00), as further described in Section 9 hereinbelow.

Equipment Loan shall have the meaning given to such term in Section 2.03 hereof.

Equipment Loan means any Loan requested by Borrower and funded by Lender under its Commitment No. 2 to finance Borrower’s acquisition or carrying of specific items of Eligible Equipment, and subject to Section 1(b), Soft Costs. Equipment Loans are sometimes referred to herein individually as a “Loan” and collectively as the “Loans”.

Equipment Loan shall have the meaning set forth in Section 2.3.

Equipment Loan means the loan to be made (or deemed made) to the Borrower by the Equipment Lender pursuant to the Equipment Loan Agreement for the purposes of purchasing certain equipment for the Vessel.

Equipment Loan shall have the meaning provided in the Development Agreement.