CAPEX Line Sample Clauses

CAPEX Line. At any time after the Effective Date, Borrower shall have the option to prepay outstanding debt under the Capex Line (together with all accrued but unpaid interest and the Capex Line Prepayment Fee) in whole, but not in part, upon not less than 60 days prior written notice to Lender. As used herein, the term “Capex Line Prepayment Fee” means, as of any date of determination, (i) 1.0% of the aggregate original principal amount of advances under the Capex Line, if the effective date of termination occurs during months 1-12 after the Effective Date. The Capex Line Prepayment Fee shall be due from Borrower to Lender upon any prepayment of outstanding debt under the Capex Line, 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 1Sample 2
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CAPEX Line. Subject to the terms and conditions of this Agreement ---------- and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender agrees, severally and not jointly, to lend to Borrower its Pro Rata Share of each CAPEX Advance from time to time requested by Borrower prior to March 31,1998, the aggregate amount of which shall not exceed $5,000,000; provided -------- that the principal amount of each CAPEX Advance shall not be less than $100,000. Amounts borrowed under this subsection 2.1(A) and prepaid may not be reborrowed. ----------------- The principal of the CAPEX Loan shall be repaid in equal quarterly installments based on five (5) year amortization of the outstanding CAPEX Loan on March 31, 1998 commencing on April 1, 1998, but the outstanding principal balance, together with all accrued and unpaid interest thereon, shall be due and payable in full on the Termination Date.
Sample 1
CAPEX Line. Subject to the terms and conditions of this ---------- Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, Lender agrees to lend to Borrower each CAPEX Advance from time to time requested by Borrower prior to the second anniversary of the Closing Date, the aggregate amount of which shall not exceed $3,000,000. The principal amount of each CAPEX Advance shall not (i) exceed an amount equal to one hundred percent (100%) of the Permitted CAPEX Expenditures to be paid with the proceeds of such CAPEX Advance or (ii) be less than $50,000. Amounts borrowed under this subsection ---------- 2.1(C) and prepaid may not be reborrowed. On the second anniversary of the ------ Closing Date, the then outstanding CAPEX Loan shall convert to a term loan, payable in three equal quarterly installments of principal equal to 1/12th of the outstanding principal balance of the CAPEX Loan on the second anniversary of the Closing Date, with the remaining outstanding balance due and payable on the Termination Date.
Sample 1
CAPEX Line. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender agrees, severally and not jointly, to lend to Borrower its Pro Rata Share of each CAPEX Advance from time to time requested by Borrower prior to March 31,1998, the aggregate amount of which shall not exceed $5,000,000; provided that the principal amount of each CAPEX Advance shall not be less than $100,000. Amounts borrowed under this subsection 2.1(A) and prepaid may not be reborrowed. The principal of the CAPEX Loan shall be repaid in equal quarterly installments based on five (5) year amortization of the outstanding CAPEX Loan on March 31, 1998 commencing on April 1, 1998, but the outstanding principal balance, together with all accrued and unpaid interest thereon, shall be due and payable in full on the Termination Date.
Sample 1
CAPEX Line. Subject to the terms and conditions of this ---------- Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, Lender agrees to lend to Borrower each CAPEX Advance from time to time requested by Borrower to be applied to Permitted CAPEX Expenditures, the aggregate amount of which shall not exceed $3,000,000; provided that on the Seventh Amendment Effective Date, Borrower hereby requests, and Lender agrees to lend to Borrower, CAPEX Advances in the amount of $1,250,000 such that the outstanding principal balance of the CAPEX Loan as of such Seventh Amendment Effective Date, after giving effect to such CAPEX Advances, shall be $3,000,000. Amounts borrowed under this subsection 2.1(C) and prepaid ----------------- on or after the Seventh Amendment Effective Date (after giving effect to the CAPEX Advances described in the proviso in the preceding sentence) may not be reborrowed. Interest on the outstanding principal balance of the CAPEX Advances shall be due and payable on each Interest Payment Date. The outstanding principal balance of all CAPEX Advances, together with interest accrued and unpaid on such amount, shall be due and payable on the Termination Date."
Sample 1

Related to CAPEX Line

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the "Commitment") is Twelve Million Dollars ($12,000,000).

  • Revolving Line of Credit (a) From and after the date of this Agreement to and including May 31, 2003, the Bank agrees, upon the terms and subject to the conditions of this Agreement, to lend to the Borrowers, and the Borrowers may from time to time borrow from the Bank and repay and reborrow, up to a maximum aggregate principal amount at any one time outstanding under the Revolving Line of Credit Note of $5,000,000. In no event will Advances be made at such times or in such amounts that the aggregate principal amount of all such Advances hereunder at any one time outstanding would exceed the lesser of $5,000,000 and (i) 80% of the then Eligible Accounts, plus (ii) 50% of the then Eligible Inventory. Each Advance under this Agreement will be made upon the written request or, at the option of the Bank, oral request, of the Borrowers to the Bank, which request shall, if written, be in the form of a Request for an Advance and, if oral, shall contain the same certification and information as a Request for an Advance and shall be confirmed by a facsimile of a Request for an Advance followed by the original thereof. All requests for Advances (and the facsimile concerning any oral Request for an Advance) shall be received by the Bank no later than 12:00 noon of the Business Day on which the Advance is to be made. To induce the Bank to accept oral requests for Advances, the Borrowers agree that the Bank may rely on instructions given by telephone by any person purporting to be authorized to act on behalf of the Borrowers , and the Borrowers agree to indemnify and hold harmless the Bank against all damages, losses, costs and expenses (including attorney's fees) arising out of or relating to the reliance by the Bank on any oral request for Advances. Provided the same is a Business Day, on the date of the requested Advance, upon satisfaction of the conditions specified in Article 5, the Bank shall make the amount of the Advance available to the Borrowers by crediting the proceeds thereof to the general deposit account in the name of one or more of the Borrowers, as designated in writing by certificate signed by all of the Borrowers, in the Bank. If the date of the requested Advance is not a Business Day, the Advance shall be made on the first Business Day thereafter, upon the satisfaction of the conditions specified in Article 5. No Advance shall be in an amount less than $1,000. Not more than one request for an Advance shall be made on any day.

  • Revolving Line Subject to and upon the terms and conditions of this Agreement, Borrower may request Advances in an aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base. Amounts borrowed pursuant to this Section may be repaid and reborrowed at any time prior to the Revolving Maturity Date. Whenever Borrower desires an Advance, Borrower will, (1) by no later than 2:00 pm on the Business Day that the Advance is to be made, (a) notify Bank by electronic mail, facsimile transmission or telephone and (b) deliver to Bank a Loan Advance/Paydown Request Form in substantially the form of Exhibit B and (2) by no later than three (3) Business Days prior to the Business Day on which the Advance is to be made, deliver to Bank a Loan Supplement and Borrowing Base Certificate. Bank is authorized to make Advances under this Agreement, based upon written instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s reasonable discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person listed herein as a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section 2.1(a) to the Collateral Account designated by Borrower in the Loan Advance/Paydown Request Form. Borrower shall use the proceeds of each Advance to finance the working capital of Borrower.

  • Unused Revolving Line Facility Fee A fee (the “Unused Revolving Line Facility Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one quarter of one percent (0.25%) per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder; and

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • Unused Facility Fee A quarterly Unused Facility Fee equal to one quarter of one percent (0.25%) per annum of the difference between the Revolving Line and the average outstanding principal balance of Advances during the applicable quarter, which fee shall be payable within five (5) days of the last day of each such quarter and shall be nonrefundable; and

  • Loan Amount Party A agrees, subject to the terms and conditions of this Agreement, to extend the Loan to Party B and Party C in a total amount of RMB 10,000,000, of which 80% shall be for the benefit of Party B and the remaining 20% shall be for the benefit of Party C. The Loan shall be interest-free.

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to one and one half percent (1 .50%) above the Prime Rate.

  • Line of Credit Note Xxxxxxxx's obligation to repay advances under the Line of Credit shall be evidenced by a promissory note substantially in the form of Exhibit A attached hereto ("Line of Credit Note"), all terms of which are incorporated herein by this reference.

  • The Line of Credit On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrowers from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $40,000,000.00 (the “Line of Credit”). Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used to assist with seasonal working capital needs and acquisitions.

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