Capital Expenditure Loan Sample Clauses

Capital Expenditure Loan. Subject to the terms and conditions of this Agreement, Foothill agrees to make a series of term loans to Borrower in an aggregate amount at any one time outstanding of up to Five Hundred Thousand Dollars ($500,000) (the "Capital Expenditure Loan Commitment"), to be evidenced ----------------------------------- by and repayable in accordance with the terms and conditions of a single promissory note (the "Capital Expenditure Loan Note"), dated as of even date ----------------------------- herewith, executed by Borrower in favor of Foothill. Each such term loan shall be made by Foothill at such times and in such amounts as Borrower may request in writing, shall be advanced directly to the applicable vendor or Borrower, as the case may be, and once borrowed may be repaid or prepaid without penalty and then, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement. The foregoing notwithstanding: (i) each borrowing of a Capital Expenditure Loan shall be in a minimum principal amount of One Hundred Thousand Dollars ($100,000), or such lesser amount as is the then unfunded balance of the Capital Expenditure Loan Commitment; (ii) each borrowing of a term loan shall be in an amount, as determined by Foothill, up to eighty percent (80%) of Borrower's invoice cost (net of installation and other so- called 'soft costs') of new Equipment to be purchased by Borrower, that is acceptable to Foothill in all respects and that is not to be affixed to real property or become installed in or affixed to other goods; and (iii) the aggregate amount of Capital Expenditure Loans shall not exceed the lesser of cost or fair market value, at the time of acquisition or construction, of the Equipment so acquired or constructed. All amounts evidenced by the Capital Expenditure Loan Note shall constitute Obligations.
Sample 1See All (4)
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Capital Expenditure Loan. Subject to the terms and conditions of this Agreement and the Other Agreements, absent the existence of an Event of Default upon request by Borrower, LaSalle shall make one or more Capital Expenditure Advances to Borrower for the acquisition of Eligible Capital Expenditures in the maximum aggregate principal amount outstanding at any one time of Five Hundred Thousand Dollars ($500,000.00) ("Capital Expenditure Loan"). Principal payable on account of the Capital Expenditure Loan shall be payable in accordance with the terms of the Capital Expenditure Loan Note. Notwithstanding anything hereinabove to the contrary, the entire unpaid principal balance of the Capital Expenditure Loan, and any accrued and unpaid interest thereon, shall be immediately due and payable upon the earlier to occur of (i) the last day of the Original Term or the last day of any Renewal Term, if either LaSalle or Borrower elects to terminate this Agreement as of the end of the Original or any Renewal Term, or (ii) the acceleration of the Obligations pursuant to paragraph 17 of this Agreement. Capital Expenditure Advances shall be made between the Closing Date and the date occurring six (6) months after the Closing Date, for the acquisition of Eligible Capital Expenditures. Capital Expenditure Advances shall be provided to Borrower upon the receipt by LaSalle of a written request for such advance together with invoices to evidence the cost of the capital asset for which the advance is being requested, and such other information as LaSalle may request. Each Capital Expenditure Advance shall be in a minimum amount of One Hundred Fifty Thousand Dollars ($150,000.00). LaSalle shall have no obligation to advance to Borrower more than eighty percent (80%) of the net invoice cost (less the value of all rebates, trade-ins, taxes, labor and shipping and installation charges) of any Eligible Capital Expenditure.
Sample 1
Capital Expenditure Loan. The Agent shall pay to each Formula Lender on each Interest Payment Date and date provided in the Capital Expenditure Line Notes or Capital Expenditure Line Installment Payment Schedule, as the case may be, such Formula Lender's Capital Expenditure Line Pro Rata Share of all payments received by the Agent in immediately available funds on account of the Capital Expenditure Line, net of any amounts payable by such Formula Lender to the Agent, by wire transfer of same day funds; the amount payable to each Formula Lender shall be based on the principal amount of the Capital Expenditure Line owing to such Formula Lender.
Sample 1
Capital Expenditure Loan. The Lender has made a Capital Expenditure Loan to the Borrower before the date of the Fourth Amendment, the Borrower's obligations to pay which are evidenced by the Capital Expenditure Note of the Borrower dated December 9, 1994, payable to the order of the Lender in the original principal amount of $400,000 (the "Existing Capital Expenditure Note"). As of the date hereof, the outstanding principal balance of the Existing Capital Expenditure Note is $273,333. The Lender agrees to make additional Capital Expenditure Loans to the Borrower in the amount of $200,000, which shall be used to finance capital expenditures through September 30, 1997 (the indebtedness evidenced by the Existing Capital Expenditure Note, together with all new advances made under this Section 2.2 may be referred to hereinafter collectively as the "Capital Expenditure Loan"). The Borrower's obligation to pay the Capital Expenditure Loan shall be evidenced by the Borrower's promissory note in the original principal amount of $473,333 (the "Capital Expenditure Note"), substantially in the form of Exhibit A to the Fourth Amendment and shall be secured pursuant to the Credit Agreement and the Security Documents as therein defined. The principal amount of the Capital Expenditure Loan shall be payable in thirty-six (36) consecutive monthly installments of Six Thousand Three Hundred Forty-Two Dollars ($6,342), commencing on January 1, 1997, with a payment of all unpaid principal and other Obligations on the earliest of termination of the Revolving Credit Facility, demand by the Lender or the Termination Date. The Capital Expenditure Note is issued in substitution for and replacement of, but not in payment of, the Existing Capital Expenditure Note.
Sample 1
Capital Expenditure Loan. Subject to the terms and conditions of this Agreement, the Bank agrees to lend and re-lend to the Borrower at any time and from time to time on and after the date hereof and prior to April 30, 1999 (the `Draw Period''), an aggregate principal amount not to exceed at any one time outstanding, $1,250,000 ("Maximum Capital Expenditure Loan Amount"). Funds advanced under the Capital Expenditure Loan shall be used to finance Borrower's capital expenditures. All such loans hereunder will be made from time to time in the reasonable discretion of the Bank, and neither this Agreement nor any loans or other action by the Bank shall obligate the Bank to make further loans to the Borrower. Notwithstanding the foregoing, Bank shall be required to make loans hereunder to Borrower provided that no Event of Default, as hereinafter defined, exists or is continuing. 3. Subparagraphs (a) and (c) of Section 5.15, Financial Covenants, are hereby revised and replaced in their entirety to read as follows: (a) A ratio of Consolidated Liabilities to Consolidated Net Worth of not more than 6.0 to 1.0 at the end of the fiscal quarter of Borrower ending on the last day of June 30, 1998 and at the end of each fiscal quarter thereafter.
Sample 1
Capital Expenditure Loan. 17 2.4 Overadvances................................... 18 2.5 Interest: Rates, Payments, and Calculations... 18 2.6
Sample 1
Capital Expenditure Loan. The Lender has made a capital expenditure loan to the Borrower before the date of the Fifth Amendment (the "Capital Expenditure Loan"), the Borrower's obligations to pay which are evidenced by the promissory note of the Borrower dated December 20, 1996, payable to the order of the Lender in the original principal amount of $473,333 (the "Capital Expenditure Loan Note"). The principal amount of the Capital Expenditure Loan shall be payable in thirty-six (36) consecutive monthly installments of Six Thousand Three Hundred Forty-Two Dollars ($6,342), commencing on January 1, 1997, with a payment of all unpaid principal and other obligations on the earliest of termination of the Revolving Credit Facility, demand by the Lender or the Termination Date.
Sample 1
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Related to Capital Expenditure Loan

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Maximum Capital Expenditures The Parent and the Borrower will, and will cause each Consolidated Subsidiary to, not make Capital Expenditures on a consolidated basis that exceed $30,000,000 in any fiscal year (the “Base Capital Expenditure Amount”). Notwithstanding anything to the contrary, the Base Capital Expenditure Amount shall be increased by the following amounts: (i) to the extent that the aggregate amount of Capital Expenditures made by the Parent and its Consolidated Subsidiaries in any fiscal year is less than the Base Capital Expenditure Amount, the amount of such difference may be carried forward and used to make Capital Expenditures in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (i) shall in no event exceed an amount equal to 75% of the unused portion of the Base Capital Expenditure Amount for such fiscal year (without giving effect to any prior adjustments), (ii) if no Default or Event of Default has occurred and is continuing, or would result after giving effect thereto, the Parent and its Consolidated Subsidiaries may make additional Capital Expenditures to the extent that the amount of such excess is deducted from the Base Capital Expenditure Amount in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (ii) shall in no event exceed an amount equal to 25% of the Base Capital Expenditure Amount (without giving effect to any prior adjustments) and (iii) the Base Capital Expenditure Amount shall exclude any Capital Expenditures that are funded with the Available Credits; provided that, at the time of such Capital Expenditures, the Borrower shall deliver a certificate of a Financial Officer stating the portion of Capital Expenditures that is being made from the Available Credit, and setting forth a calculation of the Available Credit immediately before and immediately after such Capital Expenditures.

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT. 6.2 The Recipient shall account for the Grant on an accruals basis. This requires the cost of goods or services to be recognised when the goods or services are received, rather than when they are paid for.

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are: (a) management costs of the Programme Operator in accordance with the detailed budget in the financial plan; (b) payments to projects within this Programme in accordance with the Regulation, this programme agreement and the project contract. 2. Eligible expenditures of projects are those actually incurred by the Project Promoter or project partners, meet the criteria set in Article

  • Expenditure No Borrower shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing its Ship.

  • Limitation on Capital Expenditures Make or commit to make any Capital Expenditures except: (a) Capital Expenditures made (or deemed made) with the proceeds of any Reinvestment Deferred Amount (including Capital Expenditures made during the six-month period prior to the relevant Reinvestment Event); (b) Capital Expenditures in any Fiscal Year to finance the acquisition, construction or leasing of fixed or capital assets of the Borrower and its Class I Restricted Subsidiaries in the ordinary course of business not exceeding the Applicable Consolidated EBITDA Amount for such Fiscal Year; provided, that (x) such amounts referred to above, if not so expended in the Fiscal Year for which it is permitted, may be carried over for expenditure in the next succeeding Fiscal Year and (y) Capital Expenditures made pursuant to this paragraph (b) during any Fiscal Year shall be deemed made, first, in respect of amounts permitted for such Fiscal Year as provided above and, second, in respect of amounts carried over from the prior Fiscal Year pursuant to clause (x) above; (c) to the extent that no amounts under Section 7.7(a) and (b) are available, Capital Expenditures to finance the acquisition, construction or leasing of fixed or capital assets in an amount not to exceed the Applicable Amount at the time of, and immediately prior to the making of, such Capital Expenditure; provided that, immediately prior to and after giving effect to such Capital Expenditure under this paragraph (c), no Default or Event of Default shall have occurred and be continuing; and (d) notwithstanding anything in this Section 7.7 to the contrary, and without utilization of any amounts described in paragraphs (a) through (c) of this Section 7.7, purchases of digital projectors and other digital cinema equipment from or with DCIP.

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