Capex Loans Sample Clauses

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. 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 Amendment No.5 Closing 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 Loans are hereby re-evidenced as Capex Loans loans under this Loan Agreement and the terms applicable thereto are restated 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 of August 8, 2023 or the Capex Loan Termination Date, as requested by Borrowers in the manner set forth in Section 2.2B.2.; provided, however, that Borrowers shall not request, and no Lender shall be obligated to advance, any Capex Loans during the Temporary

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. With respect to Capex Loans issued, on the Amendment No. 1 Effective Date and/or at any time thereafter, in addition to the conditions specified in clauses (a) and (b) above as applicable, (i) no Capex Loan shall be issued if after giving effect to the issuance of such proposed Capex Loan, the aggregate amount of all Capex Loans would exceed the Capex Sublimit; (ii) each Capex Loan issued shall be in a principal amount not less than $5,000,000 or the remaining availability of the Capex Sublimit (if less); (iii) any principal amounts repaid in respect of the Capex Loans may not be reborrowed; (iv) the proceeds of each Capex Loan shall be used solely to reimburse Borrowers for the cash payments previously paid by Borrowers for the purchase price for the Eligible New Equipment specified in the Capex Loan Request applicable to such Capex Loan; provided, that no Capex Loan Request shall include any Eligible New Equipment that supports any other Capex Loan, except for additional progress payments for a particular piece of Eligible New Equipment, (v) a single Capex Loan may be used to reimburse Borrowers for the purchase price of one or more items constituting Eligible New Equipment specified in the Capex Loan Request required to be delivered to Agent. (vi) Agent shall have received from Borrowers not less than five (5) Business Days and not more than 45 days prior written notice of the proposed Capex Loan (each such notice being a “Capex Loan Request”), which notice shall specify and include the following, to the extent available (provided that information not available as of the date of the Capex Loan Request will be provided as soon as possible, but in no event later than, on or prior to the date of the applicable Capex Loan): (A) the proposed date and amount of the Capex Loan, (B) a list and description of the Eligible New Equipment (by model, make, manufacturer, serial number and/or such other identifying information as may be reasonably requested by Agent), (C) the Hard Costs and total purchase price for such Eligible New Equipment (and the terms of payment of such purchase price), (D) an itemized invoice from the applicable manufacturer or seller (to include the purchase price of the Eligible New Equipment, installation costs and taxes for such Equipment), (E) a signed bill of lading or similar documentation evidencing the delivery of such Eligible New Equipment to a location of Borrowers, (F) evidence satisfactory to Agent of the delivery and installation...

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. (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. 56 ----------- Section 4.4 Acquisition Loans.............................................. 57 ----------------- Section

Capex Loans. Subject to the terms and conditions set forth herein, the Lender agrees to make loans (each such loan, a “CapEx Loan”) to the Borrower in Dollars from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the CapEx Commitment; provided, however, that after giving effect to any Borrowing of CapEx Loans, the Total CapEx Outstanding shall not exceed the CapEx Commitments. Amounts repaid on the CapEx Loans may not be reborrowed.

Capex Loans. Lender's obligation to make Capex Loans is subject ----------- to the fulfillment of each of the following additional conditions prior to or contemporaneously with the making of each such Loan: With respect to all Eligible Purchased Equipment to be financed by such Capex Loan, Lender shall have received, prior to Lender's funding of any such Loan, (i) a purchase order, invoice or other written evidence of the description and purchase price of such Eligible Purchased Equipment, and such other information as may be requested by Agent with respect thereto and (ii) evidence satisfactory to Lender that, after giving effect to such Capex Loan, such Eligible Purchased Equipment will be free and clear of all Liens other than the Security Interest.

Capex Loans. Subject to the terms and conditions of this Agreement, on or after the Closing Date and up to the third anniversary of the Closing Date each Lender with a Capex Loan Commitment agrees (severally, not jointly or jointly and severally) to make capex loans (each, a "Capex Loan", and collectively, the "Capex Loans") to Borrower in an amount equal to such Lender's Pro Rata Share of the Capex Loan Amount. The Capex Loans shall be repaid in equal monthly installments of principal based on a five (5) year amortization schedule, such installments to be due and payable on the first day of each month commencing on the first day of the first month following the funding of each Capex Loan and continuing until the Maturity Date. The outstanding unpaid principal balance and all accrued and unpaid interest under the Capex 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 Capex Loan shall constitute Obligations.