Cap Ex Loans Sample Clauses

Cap Ex Loans. Subject to the terms and conditions of this Agreement, from the Effective Date through the first anniversary of the Effective Date (the “Draw Period”), Lender agrees to make Capital Expenditure loans (each a “Cap Ex Loan” and collectively, the “Cap Ex Loans”) in an aggregate outstanding amount not to exceed at any time $500,000. Cap Ex Loans may only be used to finance Eligible Equipment purchased after the Effective Date. No Cap Ex Loans may exceed seventy-five percent (75%) of the total invoice for Eligible Equipment (excluding taxes, shipping, warranty charges, freight discounts and installation expenses relating to such Eligible Equipment). Borrower is not obligated to finance Capital Expenditures with Lender Cap Ex Loans. Interest on each Cap Ex Loan shall be paid monthly as provided in Section 1.2 of this Agreement and Section 2 of this Schedule. In the event the Prime Rate increases, Borrower will be charged the difference between (i) the Prime Rate plus 11.6% and (ii) 14.85% and the amount of such difference will be charged to (and payable by) Borrower as of the end of each fiscal quarter. Interest only shall be payable on any and all Cap Ex Loans outstanding from time to time until the end of each fiscal quarter, at which time, the principal amount of each outstanding Cap Ex Loan will be aggregated and repaid as provided for below. The aggregate principal amount of all Cap Ex Loans outstanding at the end of each fiscal quarter shall be repaid by the Borrower to Lender in 48 equal monthly installments of principal, plus accrued but unpaid interest, commencing on the twentieth (20th) day of the month immediately following the end of each fiscal quarter (each an “Initial Cap Ex Loan Payment”), and continuing on the same day of each month thereafter until the earliest of the following dates (“Cap Ex Loan Maturity Date”): (i) the date the Cap Ex Loan has been paid in full; or (ii) the date that is thirty-six (36) months from the applicable Initial Cap Ex Loan Payment; or (iii) the Revolver Maturity Date; or (iv) the date this Agreement terminates by its terms or is terminated, as provided in this Agreement. On the Cap Ex Loan Maturity Date (or, if earlier, upon acceleration of the Obligations in accordance with the terms of this Agreement), the entire unpaid principal balance of the Cap Ex Loan, plus all other Obligations relating to the Cap Ex Loan (including accrued and unpaid interest thereon, and, if applicable, the Cap Ex Loan Prepayment Fee) shal...
Sample 1
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Cap Ex Loans. Subject to, and upon the terms and conditions contained herein, Lender agrees to make loans (the "Cap Ex Loans") to Borrower from time to time in amounts requested by Borrower up to 75% of the net purchase price of new Equipment purchased and installed after the date hereof and acceptable to Lender in its discretion (provided that not more than $1,000,000 in Cap Ex Loans shall be made hereunder). Cap Ex Loans may not be re-borrowed after being repaid. The net purchase price of Equipment means the purchase price thereof, as shown on the applicable invoice, net of all charges for taxes, freight, delivery, insurance, installation, set- up, training, manuals, fees, service charges and other similar items. Cap Ex Loans shall be made in disbursements of not less than $200,000 each and the proceeds of Cap Ex Loans shall be used exclusively to purchase the applicable Equipment. Each Cap Ex Loan shall be repaid by the Borrower to Lender in 60 equal monthly payments of principal, commencing on the first day of the first month after such Cap Ex Loan was disbursed and continuing until the earlier of the date such Cap Ex Loan has been paid in full or the date this Agreement terminates by its terms or is terminated, at which date the entire unpaid principal balance of the Cap Ex Loans, plus all accrued and unpaid interest thereon, shall be due and payable.
Sample 1
Cap Ex Loans. (a) In addition to all Revolving Advances, Letters of Credit and any other loans and financial accommodations to be made by Lender pursuant to this Agreement and subject to the terms and conditions set forth herein, Lender agrees, from the date hereof up to December 31, 1998 (the "Cap/Ex Line Termination Date"), to make loans to Borrowers, upon Borrowers' written request, for the purpose of purchasing or acquiring Eligible Equipment, or for the purpose of refinancing any existing Indebtedness or making new loans, with respect to any Equipment which Lender, in its sole discretion deems to be Eligible Equipment (the "Cap/Ex Line Loans"). Each Cap/Ex Line Loan shall be in an amount not to exceed seventy-five percent (75%) of the Equipment Purchase Price in respect of Eligible Equipment which is, at the time acquired by Borrowers, new Equipment, and seventy-five percent (75%) of the Orderly Liquidation Value in respect of Eligible Equipment which is, as of the date of such requested Cap/Ex Line Loan, used Equipment, provided, however, that after giving effect to a Cap/Ex Line Loan requested by Borrowers, the sum of (i) such requested Cap/Ex Line Loan plus (ii) the aggregate original principal amount of all Cap/Ex Line Loans which have been made to Borrowers, plus (iii) the aggregate original principal amount of all Cap/Ex Line Loans which have been made to Affiliated Borrowers under the Affiliate Loan Agreements shall in no event exceed $6,500,000 ("Cap/Ex Line Sublimit"). Borrowers shall provide Lender with not less than ten (10) days prior written notice of each requested Cap/Ex Line Loan. Each Cap/Ex Line Loan shall bear interest from the date such Cap/Ex Line Loan is made at the applicable Contract Rate set forth in Section 3.1 and such interest shall be payable in accordance with Section 3.1. In addition to the foregoing and subject to the Cap/Ex Line Sublimit, Lender may, in its sole discretion, make additional Cap/Ex Line Loans to Borrowers in respect of Eligible Equipment, which is, at the time acquired by Borrowers, used Equipment, in an amount determined by Lender in its sole discretion. (b) Each Cap/Ex Line Loan shall be in an amount of not less than $250,000. (c) Borrowers shall have no right to request, and Lender shall have no obligation to make whatsoever, any Cap/Ex Line Loan after the Cap/Ex Line Termination Date. (d) The aggregate principal amount of all Cap/Ex Line Loans made from the Closing Date through and including June 30, 1998 (the "Ju...
Sample 1
Cap Ex Loans. Subject to the terms and conditions of this Agreement, Xxxxx Fargo, shall, from time to time, make available Advances to Company (each, a "Cap Ex Loan" and collectively, the "Cap Ex Loans") to finance Company's purchase of new Eligible Equipment acquired after the date hereof (the "Cap Ex Equipment") for use in Company's business. All such Cap Ex Loans shall be in such amounts as are requested by Company, but in no event shall any Cap Ex Loan exceed eighty percent (80%) percent of the net invoice cost (excluding taxes, shipping, delivery, handling, installation, labor, overhead and other so-called "soft" costs) of the Cap Ex Equipment then to be purchased by Company and the total amount of all Cap Ex Loans outstanding hereunder shall not exceed, in the aggregate, the sum of Two Hundred Fifty Thousand Dollars ($250,000). Once repaid Cap Ex Loans may not be reborrowed.
Sample 1
Cap Ex Loans. Commencing at the close of business on the CapEx Line Termination Date and at all times thereafter, the Lenders shall not be required or obligated to make additional CapEx Loans and the aggregate outstanding principal balance of all CapEx Loans on such date shall convert into a senior secured term loan and shall be paid in full on September 23, 2010.
Sample 1
Cap Ex Loans. 22 2.8 Repayment of Advances; Mandatory Prepayment . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 2.9
Sample 1
Cap Ex Loans. Subject to the terms and conditions contained herein and in the Ancillary Agreements, the Lender shall make loans to the Borrower not more often than monthly (the "Cap Ex Loans") up to an amount equal to the lesser of (a) $3,500,000 or (b) 80% of the cash purchase price to the Borrower of new Equipment (the "Cap Ex Facility"), exclusive of fees, commissions, freight, taxes, installation charges and software costs related to such new Equipment. No more than $1,500,000 of the Cap Ex Loans may be borrowed in any one fiscal year and no less than $250,000 of the Cap Ex Loan may be borrowed by the Borrower at any one time. Cap Ex Loans shall be advanced by the Lender to the Borrower upon the Borrower's request together with such information as the Lender may reasonably
Sample 1
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Cap Ex Loans. Borrower is not obligated to finance equipment purchases with the Lender, and may enter into lease agreements as necessary with third parties to the extent permitted hereunder. Should Borrower finance equipment purchases through the Lender, through the first anniversary of the Effective Date, Borrower shall not have the right to voluntarily prepay any Cap Ex Loan. At any time after the first anniversary of the date of the date of funding of the Cap Ex Loan, Borrower shall have the option to prepay the Cap Ex Loan (together with all accrued but unpaid interest and the Cap Ex Loan Prepayment Fee) in whole, but not in part, upon not less than 30 days prior written notice to Lender. As used herein, the term “Cap Ex Loan Prepayment Fee” means, as of any date of determination, (i) 2.0% of the original principal amount of the Cap Ex Loan if such prepayment occurs on or before the second anniversary of the Effective Date and (ii) 1.0% of the original principal amount of the Cap Ex Loan if such prepayment occurs after the second anniversary of the Effective Date. The Cap Ex Loan Prepayment Fee shall be due from Borrower to Lender upon any prepayment of the principal of the Cap Ex Loan, including without limitation any prepayment as a result of an Event of Default or the exercise of any rights or remedies by Lender following the same.
Sample 1
Cap Ex Loans. Separate Loans to Each Borrower . . . . . . . . . . . . . 16
Sample 1

Related to Cap Ex Loans

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Loans 3.1. On each Loan Subscription Date, not later than the time specified by Xxxxxx (such time to be posted to the TALF Website in advance of such Loan Subscription Date), each TALF Agent may submit to Lender, in the manner specified by Xxxxxx from time to time, a request for Loans on behalf of each Applicable Borrower proposing to borrow Loans on the next scheduled Loan Closing Date (each such request, a “Loan Request”). Each TALF Agent shall complete the Loan Request in accordance with instructions provided by Custodian from time to time, in the form attached hereto as Appendix 3A or, in the case of a Loan to be secured by CMBS Collateral, Appendix 3B. Lender shall promptly provide Custodian with the information contained in each such Loan Request. Notwithstanding the foregoing, a TALF Agent shall not be permitted to submit a Loan Request unless (x) it has previously delivered to Custodian a copy of the Letter of Agreement pursuant to which it became a party hereto and (y) in the case of a Loan to be secured by Newly Issued CMBS Collateral and with respect to each such Item of Newly Issued CMBS Collateral, the following documents shall have been delivered to Lender and Custodian at or before the stated times: (1) not later than 5:00 p.m. on the eighth Business Day before the applicable Loan Subscription Date, the Offering Materials (as defined below) (which may be in preliminary form to the extent Offering Materials in final form are not then available), (2) not later than 5:00 p.m. on the sixth Business Day prior to the applicable Loan Subscription Date, an AUP Report (TALF) and an AUP Report (Industry) relating to such Offering Materials and (3) not later than the Business Day after any supplement to such Offering Materials is furnished to prospective investors, each such supplement, together with an AUP Report (TALF) and an update to the earlier AUP Report (Industry); provided, that each such supplement and related AUP Report (TALF) and update to AUP Report (Industry) shall be delivered not later than 5:00

  • Revolving Loan Borrowings During the Revolving Commitment Period, subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make Revolving Loans denominated in Dollars to the Borrowers (on a joint and several basis) in an aggregate amount not to exceed at any time outstanding the amount of such Xxxxxx’s Revolving Commitment; provided, that after giving effect to the making of any Revolving Loans, (i) in no event shall the aggregate amount of Revolving Exposure exceed the aggregate amount of Revolving Commitments then in effect and (ii) no Lender’s Revolving Exposure shall exceed such Xxxxxx’s Revolving Commitment. Subject to the terms and conditions hereof, amounts borrowed pursuant to this Section 2.01(c) may be repaid and reborrowed during the Revolving Commitment Period. Revolving Loans may be Base Rate Loans or SOFR Loans as further provided herein.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to one percent (1.0%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(d) below.

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof. (b) In no event shall the Borrower be entitled to request or receive any Borrowing that (i) would exceed the Available Commitments or (ii) would cause the Outstanding Credits to exceed the Commitments.

  • Delayed Draw Term Loans Subject to the terms and conditions set forth in this Agreement and in the other Loan Documents (including, for avoidance of doubt, satisfaction of the conditions precedent set forth in Exhibit B attached hereto on the Closing Date and Exhibit E attached hereto on the applicable Delayed Draw Funding Date), the Initial Lender agrees to make delayed draw term loans to Borrower at any time and from time to time during the Availability Period (each, a “Delayed Draw Term Loan” and collectively, the “Delayed Draw Term Loans”); provided that the aggregate principal amount of all Delayed Draw Term Loan Notes shall not exceed the Maximum Delayed Draw Term Loan Principal Amount. Delayed Draw Term Loans may be funded at Xxxxxxxx’s request in multiple Advances made during the Availability Period and repaid in accordance with the terms of this Agreement and each Delayed Draw Term Loan Note. Whenever Borrower desires to incur a Delayed Draw Term Loan hereunder, Borrower shall give Administrative Agent at least five (5) Business Days’ (or such shorter period agreed to by Administrative Agent in its sole discretion) prior written notice of such Delayed Draw Term Loan to be incurred hereunder specifying the principal amount of such Delayed Draw Term Loan to be incurred and the date of such Advance (which shall be a Business Day). Each Delayed Draw Term Loan will be evidenced by a Delayed Draw Term Loan Note appropriately completed in accordance with the terms of the form of Delayed Draw Term Loan Note attached hereto as Exhibit G to include the applicable interest rate and required amortization payments; provided that the aggregate principal amount of all Delayed Draw Term Loan Notes shall not exceed the Maximum Delayed Draw Term Loan Principal Amount. Interest on each Delayed Draw Term Loan shall accrue commencing on the Delayed Draw Funding Date for such Delayed Draw Term Loan at a per annum rate equal to the Term SOFR Rate plus 5.95%. Xxxxxxxx agrees to repay the Delayed Draw Term Loans, with interest, in accordance with the Delayed Draw Term Loan Notes, this Agreement, and the other Loan Documents. The obligation of Borrower to repay the Delayed Draw Term Loans, together with interest as provided in this Agreement and in each Delayed Draw Term Loan Note, shall commence upon the funding of each Delayed Draw Term Loan on the Delayed Draw Funding Date for such Delayed Draw Term Loan and shall be unconditional. Borrower hereby accepts each Delayed Draw Term Loan requested by Borrower on the Delayed Draw Funding Date for such Delayed Draw Term Loan, subject to and upon the terms and conditions set forth herein.

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