Equipment Loans. Section 2.3(b) of the Loan Agreement shall be amended and restated in its entirety as follows:
Equipment Loans. (i) Following the date which is the first anniversary of the Closing Date, subject to the terms and conditions of this Agreement, each Lender, severally and not jointly, shall, from time to time, make Advances (each, an “Equipment Loan” and collectively, the “Equipment Loans”) to one or more Borrowers in an amount equal to such Lender’s Equipment Loan Commitment Percentage of the applicable Equipment Loan to finance Borrowers’ purchase of equipment for use in Borrowers’ business. All such Equipment Loans shall be in such amounts as are requested by Borrowing Agent, but in no event shall any Equipment Loan exceed eighty percent (80%) of the Net Invoice Cost of the equipment being purchased by Borrowers and the total amount of all Equipment Loans advanced shall not exceed, in the aggregate, the Maximum Equipment Loan Amount. Once repaid, Equipment Loans may not be re-borrowed.
Equipment Loans. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through February 28, 2000, (the "Equipment Availability End Date"), but no more frequently than once during each calendar month, Bank agrees to make advances (each an "Equipment Loan") to Borrower in an aggregate amount not to exceed the Equipment Commitment. Borrower shall deliver to Bank, at the time of each Equipment Loan request, an invoice for the equipment to be financed by such Equipment Loan. The Equipment Loans shall be used only to purchase or refinance Equipment purchased on or after 90 days prior to the date hereof (provided, that the initial advance to Borrower under this Section 2.1.2 may be utilized to refinance Equipment purchased by Borrower at any time on or after January 1, 1998) and shall not exceed 100% of the invoice amount of such equipment approved from time to time by Bank, including sales taxes, freight, and installation expenses.
Equipment Loans. Subject to the terms and conditions of this Agreement, during Equipment Loan A Draw Period, from time to time and upon the delivery to Bank by Borrower of a completed and executed irrevocable LOAN PAYMENT/ADVANCE REQUEST FORM (in a form acceptable to Bank), and any additional information as Bank may reasonably request (including copies of the invoices for the equipment to be financed) at least five (5) Business Days before the proposed funding date, Bank will make Loans, each in a minimum amount of One Hundred Thousand Dollars ($100,000.00) (unless there is less than $100,000 of the Equipment Loan A Amount available to be borrowed), the aggregate of which will not exceed the Equipment Loan A Amount. Subject to the terms and conditions of this Agreement, during Equipment Loan B Draw Period, from time to time and upon the delivery to Bank by Borrower of a completed and executed irrevocable LOAN PAYMENT/ADVANCE REQUEST FORM (in a form acceptable to Bank), and any additional information as Bank may reasonably request (including copies of the invoices for the equipment to be financed) at least five (5) Business Days before the proposed funding date, Bank will make Loans, each in a minimum amount of One Hundred Thousand Dollars ($100,000.00) (unless there is less than $100,000 of the Equipment Loan B Amount available to be borrowed), the aggregate of which will not exceed the Equipment Loan B Amount. The Loans may only be used to finance Eligible Equipment purchased on or after ninety (90) days before the date of each Loan and may not exceed one hundred percent (100%) of the equipment invoice, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Notwithstanding the foregoing, the initial Loan hereunder may be used to reimburse Borrower for Eligible Equipment purchased on or after the date which is six (6) months prior to the Effective Date, provided such Loan is made on the Effective Date and in a minimum amount of One Hundred Thousand Dollars ($100,000.00). Transferable software licenses, leasehold improvements or other soft costs (including sales tax, freight, architects’ fees and installation expenses) may constitute up to twenty-five percent (25%) percent of each Loan. In addition to the LOAN PAYMENT/ADVANCE REQUEST FORM, Borrower shall provide Bank with (a) a UCC financing statement covering the Eligible Equipment, and (b) an opportunity to confirm that upon filing the UCC financing statement covering the Eligible Equipme...
Equipment Loans. With respect to each Equipment Loan (as identified in Schedule III-A), the applicable Originator hereby represents and warrants, and the Issuers hereby represent and warrant with respect to any Equipment Loan pledged prior to the Series Closing Date or purchased or substituted by such Issuer from a third party (subject to Section 2.05 of the Property Management Agreement), as of the date herein below specified or, if no such date is specified, as of the Series Closing Date, except as set forth on Schedule III hereto, that:
Equipment Loans. With respect to each Equipment Loan (as identified in Schedule III-A), Seller hereby represents and warrants, as of the date herein below specified or, if no such date is specified, as of the Closing Date, except as set forth on Schedule III hereto, that:
Equipment Loans. (a) Subject to the terms and conditions of this Agreement, each Lender, severally and not jointly, shall, from time to time, make available Advances to one or more Borrowers (each, an “Equipment Loan” and collectively, the “Equipment Loans”) in an amount equal to such Lender’s Equipment Loan Commitment Percentage of the applicable Equipment Loan, to finance each applicable Borrower’s purchase of Equipment consisting of computer hardware and software for use in each such Borrower’s business; provided that the Equipment to be purchased shall be reasonably acceptable to Agent. All such Equipment Loans shall be in such amounts as are requested by Borrowing Agent, in an amount up to, at Agent’s sole discretion, 90% of the net invoice cost (excluding taxes, shipping, delivery, handling, installation, overhead and other so called “soft” costs) of the Equipment then to be purchased by Borrowers and the total amount of all Equipment Loans advanced hereunder shall not exceed, in the aggregate, the Maximum Equipment Loan Amount. Once repaid Equipment Loans may not be reborrowed.
Equipment Loans. Subject to the fulfilment of the conditions precedent, to compliance with the conditions set out in clause 4.1 above and to compliance with the following conditions, the Bank shall make an Equipment Loan under the Equipment Facility during the Availability Period only if:
Equipment Loans. (i) Subject to the terms and conditions of this Agreement, each Lender, severally and not jointly, shall, from time to time, make available Advances to Borrowers (each, an "Equipment Loan" and collectively, the "Equipment Loans") at any time during the period ending on the first anniversary of the date of this Agreement (the "Borrowing Period") to finance Borrowers' purchase of Equipment for use in Borrowers' business. All such Equipment Loans shall be in such amounts as are requested by Borrowing Agent, but in no event shall any Equipment Loan exceed eighty percent (80%) of the net invoice cost (excluding taxes, shipping, delivery, handling, installation, overhead and other so called "soft" costs) of the Equipment then to be purchased by Borrowers and the total amount of all Equipment Loans outstanding hereunder shall not exceed, in the aggregate, the sum of two million dollars ($2,000,000). Once repaid Equipment Loans may not be reborrowed.
Equipment Loans. Principal payable on account of the Equipment Loans shall be payable by Borrowers in accordance with the terms of the Equipment Loan Notes.”
