Capex Loans. Prior to the Closing Date, “Capex Loans” (as defined in the Existing Agreement) were made to the Borrowers under the Existing Agreement which remain outstanding as of the Closing Date (each such outstanding loans being hereinafter referred to as the “Existing Capex Loans”). Subject to the terms and conditions of this Agreement, the Obligors and each Lender agree that on the Closing Date, the Existing Capex Loans shall be re-evidenced as Capex Loans loans under this Loan Agreement and the terms applicable thereto shall be restated in their entirety and shall be 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 of MayJune 30, 20172018 or the Capex Loan Termination Date as requested by Borrowers in the manner set forth in Section 2.
Capex Loans. 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, after the Eighth Amendment Effective Date, 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 after the Eighth Amendment Effective Date 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."
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. (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. (a) The CAPEX Draw Loans shall be refinanced on the CAPEX Conversion Date by the CAPEX Term Loan and the CAPEX Draw Facility Commitment shall terminate on the CAPEX Conversion Date, or the Termination Date, if earlier.
(b) The principal amount of the CAPEX Term Loan shall be payable in seventeen (17) consecutive quarter annual installments in the amount of the CAPEX Term Loan Scheduled Payment Amount, commencing on the last day of the first full calendar quarter after the CAPEX Conversion Date, and continuing on the last day of each calendar quarter thereafter, with the balance thereof payable in full on the CAPEX Term Loan Maturity Date.
Capex Loans. (i) Subject to the terms and conditions set forth herein, each Lender, severally and not jointly, agrees to make Loans to Borrower to finance Borrower's purchase of Equipment for use in Borrower's business ("Capex Loans") in the sum equal to such Lender's Commitment Percentage of an amount not to exceed eighty percent (80%) of the net invoice cost of such Equipment purchased by Borrower (which shall be exclusive of shipping, handling, taxes, installation and all other "soft" costs) provided that the total amount of all outstanding Capex Loans shall not exceed the Maximum Capex Amount. All Capex Loans must be in original principal amounts
Capex Loans. (i) The Borrower shall repay to the Administrative Agent for the account of the Capex Loan Lenders on the Maturity Date the aggregate principal amount of the Capex Loans outstanding on such date.
(ii) Principal amounts of Capex Loans repaid may not be reborrowed.
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. 2 (a) CapEx Loans........................................................ 2 (b) [Intentionally omitted]............................................ 2 1.3 Letters of Credit; LC Guaranties............................................ 2
