Capex Loans Clause Samples

Capex Loans. (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Term Loan Commitment may, in its sole discretion, make term loans (collectively, the “Term Loan”) to Borrowers, in an aggregate principal amount at any one time outstanding not to exceed such Lender’s Pro Rata Share of the Term Loan Amount. The proceeds of each Term Loan shall be used by a Borrower solely to fund a portion of the purchase price of assets (“Capital Assets”) acquired by such Borrower that, in accordance with GAAP, are or should be included in “property, plant and equipment” or in a similar fixed asset account on such Borrower’s balance sheet. The maximum principal amount of each Term Loan shall not exceed 70% of the Hard Cost of the Capital Assets to be acquired by the Borrowers with a portion of the proceeds of such Term Loan. Each Term Loan shall be made in a minimum amount of $50,000. The outstanding unpaid principal balance and all accrued and unpaid interest under the Term Loan shall be due and payable on the date of termination of this Agreement, whether by its terms, by prepayment, or by acceleration. All amounts outstanding under the Term Loan shall constitute Obligations. Any principal amount of the Term Loan which is repaid or prepaid by Borrowers may be reborrowed pursuant to the terms hereof. Borrowers may, at any time, prepay all or a portion of the Term Loan without penalty or premium. (b) Notwithstanding anything to the contrary contained in this Section 2.2, the Borrowers hereby acknowledge, confirm and agree that (i) immediately prior to the Restatement Effective Date, the outstanding principal amount of the Term Loan under and as defined in the Original Loan Facility is equal to $[0.00] (such Indebtedness being hereinafter referred to as the “Original Term Loan Indebtedness”), (ii) such Original Term Loan Indebtedness shall not be repaid on the Restatement Effective Date, but rather shall be reevidenced by this Agreement as a portion of the Term Loan outstanding hereunder, (iii) for all purposes of this Agreement and the other Loan Documents, the Original Term Loan Indebtedness on the Restatement Effective Date shall constitute the Term Loan outstanding on the Restatement Effective Date.

Capex Loans. The Borrowers shall, on the first Business Day of each calendar month following the making of each CapEx Loan, make a scheduled repayment of the aggregate outstanding principal amount thereof in an amount equal to 1/72 of the original principal amount of each such CapEx Loan.

Capex Loans. Interest shall accrue on the CapEx Loans in accordance with the terms of the CapEx Notes.

Capex Loans. (a) The Lenders agree, subject to Section 2.5 and the other terms and conditions of this Agreement, to make loans to the Borrower to finance the purchase by the Borrower of Equipment (the "CapEx Loans"), from time to time from the Closing Date to but excluding the date that is six months before the Expiration Date, at the Borrower's request to the Agent, the aggregate principal amount at any time outstanding which shall not exceed the lesser of (i) $15,000,000 and (ii) 80% of the cost of such Equipment (excluding the cost of any software, warranties or other intangible assets related thereto). (b) Each CapEx Loan shall be in a minimum principal amount of $3,000,000, and no more than five CapEx Loans may be outstanding at any time. (c) The CapEx Loans shall be evidenced by a promissory note payable to the order of each Lender, substantially in the form of Exhibit B (as amended, supplemented or otherwise modified from time to time, the "CapEx Notes"), executed by the Borrower and delivered to each Lender on the Closing Date. The CapEx Note payable to the order of a Lender shall be in a stated maximum principal amount equal to such Lender's Pro Rata Share of $15,000,000. (d) The principal amount of each CapEx Loan shall be payable in equal and consecutive monthly installments each in an amount equal to 1.67% of the amount of such CapEx Loan on the first Business Day of each month commencing on the first Business Day following the first anniversary of the Closing Date or, if such CapEx Loan is made after the first anniversary of the Closing Date, on the first Business Day of the month following the month in which such CapEx Loan is made, provided that the entire unpaid principal balance of each CapEx Loan shall be payable in full, with all interest accrued thereon, on the Expiration Date. Amounts repaid on account of a CapEx Loan may not be reborrowed as a CapEx Loan, provided that, (i) to the extent a repayment or prepayment, in whole or in part, of a CapEx Loan creates availability to borrow Revolving Credit Loans, such amounts may be reborrowed as Revolving Credit Loans; and (ii) to the extent any CapEx Loan is repaid or prepaid in full (and not in part), such amounts may be reborrowed as CapEx Loans to finance a different item of Equipment.

Capex Loans. Upon the request of a Lender, to evidence the obligation of Core Molding to repay the Capex Loans made by such Lender and to pay interest thereon, Core Molding shall execute a Capex Note, payable to the order of such Lender in the principal amount of its Commitment Percentage of the Capex Commitment; provided that the failure of a Lender to request a Capex Note shall in no way detract from Core Molding’s obligations to such Lender hereunder.

Capex Loans. Prior to theClosing Date, “Capex Loans” (as defined in the Existing Agreement)were made to the Borrowers under the Existing Agreement which remain outstanding as of theAmendment No.5Closing Date (each such outstanding loans being hereinafter referred to as the “Existing Capex Loans”). Subject to the terms and conditions of this Agreement, on the Closing Date, the Existing Capex Loansare herebyre-evidenced as Capex Loans under this Loan Agreement and the terms applicable theretoarerestated in their entirety and evidenced by this Agreement. Each Lender agrees, severally on a Pro Rata basis up to its Capex Loan Commitment, on the terms set forth herein, to make one or more Capex Loans to Borrowers from time to time through the earlier ofAugust8, 2023 or the Capex Loan Termination Date, as requested by Borrowers in the manner set forth inSection 2.2B.2;provided,however, that Borrowers shall not request, and no Lender shall be obligated to advance, any Capex Loans during the Temporary Revolver Commitment Increase Period. No repayment in respect of any Capex Loan may be reborrowed. Each Lender will make Capex Loans only if each of the following conditions is satisfied: (a) Borrowers shall have provided evidence to Agent, in form and substance reasonably satisfactory to Agent, that Borrowers will use the proceeds of each requested Capex Loan to purchase, or reimburse Borrowers in connection with the purchase of, new production, used or refurbished Equipment (i) used in such Borrowers’ business operations, (ii) to be located at locations in compliance with this Agreement, and (iii) subject to no Liens other than those in favor of Agent and, when such Capex Loan is made, other Permitted Liens permitted hereunder pursuant toSection 10.2.2(c),(d),(f), and(i);providedthat (A) any used or refurbished Equipment is subject to an appraisal in form and substance (and by an appraiser) reasonably satisfactory to Agent; and (B) any Capex Loans made to reimburse Borrowers shall be made within 30 days of Borrowers’ purchase. (b) Agent shall have received true copies of the invoice(s) from the seller of the Equipment evidencing the cost of the Equipment Borrowers propose to purchase or for which Borrowers are requesting reimbursement with the proceeds of each Capex Loan, and such invoice(s) disclose(s) that the original principal amount of such requested Capex Loan does not exceed(i) in the case of new Equipment, 75% of the cost of such Equipment, or (ii) in the case of used or ...

Capex Loans. (a) From and after the Closing Date, LaSalle shall make non-revolving loans and advances (collectively, the "Capex Loan") to Borrower as Borrower shall from time to time request in an aggregate amount of up to but not exceeding Five Million and 00/100 ($5,000,000.00), in accordance with the terms of this paragraph 3(a). Each request for a Capex Loan advance shall be made in writing, together with invoices and other documentation acceptable to LaSalle evidencing the hard costs of the machinery and equipment acquired or to be acquired with the proceeds of the requested Capex Loan advance ("Acquired M&E"). Each Capex Loan advance shall be in an amount not less than $100,000 (and in increments of $1,000 in excess thereof) and shall be limited to no more than 80% of the hard costs of the Acquired M&E for which such advance is requested. Borrower shall execute and deliver to LaSalle a Capex Note from time to time when the aggregate amount of Capex Loans made but not evidenced by a Capex Note equals or exceeds $500,000; provided, however, that notwithstanding the aggregate amount of Capex Loans made but not evidenced by a Capex Note, Borrower shall execute and deliver to LaSalle a Capex Note on each August 31 during the term of this Agreement in an amount equal to the then-outstanding amount of Capex Loans made but not evidenced by a Capex Note. Principal payable on account of the Capex Loan shall be payable in successive monthly installments (i) payable on the first day of each month, the first of which installments shall be due and payable on the first day of the month immediately following the date of each Capex Note and (ii) based on an amortization schedule consisting of sixty (60) equal and level payments under each Capex Note; provided, however, that the entire unpaid principal balance of the Capex Loan shall be due and payable in full upon the expiration of the Original Term of this Agreement; and, provided further, that in the event that the Original Term of this Agreement is initially or subsequently renewed in accordance with paragraph 12 hereof, then Borrower shall continue to make such equal and level monthly principal payments under each Capex Note, with a final installment equal to the unpaid principal balance of the Capex Loan and any other amounts outstanding due and payable upon the expiration of the Renewal Term. Notwithstanding anything hereinabove to the contrary, the entire unpaid principal balance of the Capex Loan, and any accrued and unpa...

Capex Loans. (i) The Borrower shall repay to the Administrative Agent for the ratable account of the CapEx Lenders the aggregate principal amount of all CapEx Loans in accordance with the terms of Section 2.10(d)(ii) (which principal amounts shall be reduced as a result of the application of prepayments in accordance with Section 2.8). (ii) The outstanding principal amount of all CapEx Loans advanced hereunder (A) during the Initial CapEx Availability Period shall convert to a term loan on the 2025 CapEx Loan Conversion Date, (B) during the Second CapEx Availability Period shall convert to a term loan on the 2026 CapEx Loan Conversion Date, and (C) during the Final CapEx Availability Period shall convert to a term loan on the 2027 CapEx Loan Conversion Date. Following each applicable CapEx Loan Conversion Date, the CapEx Loans so converted shall amortize in equal monthly installments of principal equal to the amount necessary to amortize such CapEx Loans over a five (5) year period. Each such installment shall be payable on the 10th day of each calendar month following each applicable CapEx Loan Conversion Date. The remaining principal balance of the CapEx Loans shall be repaid in full on the CapEx Loan Maturity Date. Interest.

Capex Loans. The proceeds of the Capex Loans shall be used solely to fund parts or all of the costs of, or repay existing Indebtedness of the Borrower or its Subsidiaries incurred in connection with, capital expenditure projects at FBOs operated by Subsidiaries as of the Closing Date that (i) are set forth on Schedule 2.7(b) hereto, (ii) are set forth on an amendment to Schedule 2.7(b) reasonably approved by the Administrative Agent acting at the direction of the Required Lenders (which amendments shall not be requested more than once per calendar quarter), or (iii) are not reasonably expected to cost more than $500,000 to complete.