Capital Expenditure Loans. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to each Borrower up to eighty percent (80%) of the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of Equipment to be purchased with the proceeds of such advances, which Equipment is acceptable to Lender in its sole discretion, and upon which Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced for such purchases shall not exceed Five Hundred Thousand and No/100 Dollars ($500,000.00), (ii) at least three (3) Business Days prior to any such advance hereunder, such Borrower shall have furnished to Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender shall require to assure that Lender has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Fifty Thousand and No/100 Dollars ($50,000.00). Amounts repaid with respect to the Capital Expenditure Loans may not be reborrowed.
Capital Expenditure Loans. Each Lender agrees, severally on a Pro Rata Capital Expenditure Loan basis up to its Capital Expenditure Loan Commitment, on the terms set forth herein, to make Capital Expenditure Loans to Borrowers from time to time through the Capital Expenditure Commitment Termination Date.
Capital Expenditure Loans. Subject to the terms and conditions of this Agreement and the Other Agreements, after the initial Loans are advanced hereunder, but in no event after the date which is six months prior to the last day of the Term, Agent shall make one (1) advance to the Borrowers of up to eighty percent (80%) of the purchase price (exclusive of sales taxes, delivery charges and other “soft” costs related to such purchase) of Equipment which (i) has been purchased by either Borrower on or after June 1, 2005 with the working capital of such Borrower or (ii) is to be purchased with the proceeds of such advance, which Equipment is acceptable to Agent in its reasonable discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the maximum amount advanced hereunder for such purchases shall not exceed One Million Dollars ($1,000,000.00), (ii) at least five (5) Business Days prior to any such advance hereunder, the Borrowers shall have furnished to Agent an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Agent shall required to assure that Agent has a first priority perfected security interest in such Equipment, and (iii) the Borrowers shall have executed and delivered to Agent a CapEx Note in the form of Exhibit D annexed hereto. The CapEx Line shall not be available for advance at any time during which a Default or Event of Default has occurred unless the Agent in its sole discretion waives such Default or Event of Default in writing.”
Capital Expenditure Loans. (a) In addition to the other credit provided under this Agreement, during the availability period set forth below, unless a Default or Event of Default exists under this Agreement, Borrower may request Capital Expenditure Loans from Bank in an aggregate principal amount not to exceed $6,000,000. The availability period for such loans is from the date of this Agreement through January 30, 2001. Any amount repaid with respect to Capital Expenditure Loans may not be reborrowed.
Capital Expenditure Loans. The Borrowers shall repay the principal amount of each Capital Expenditure Loan in consecutive monthly installments commencing on the first day of the calendar month immediately succeeding the calendar month in which such Capital Expenditure Loan was made, and continuing on the first day of each calendar month thereafter, until the earlier of payment in full of such Capital Expenditure Loan or the Termination Date, with all outstanding principal and accrued interest on such Capital Expenditure Loan due on the Termination Date. Each monthly installment for each Capital Expenditure Loan (other than a final installment in the amount of the then outstanding principal balance thereof, together with accrued interest thereon, due on the Termination Date), shall be in a principal amount equal to (a) the original principal amount of such Capital Expenditure Loan divided by (b) the lesser of (1) thirty-six (36) or (2) the number of calendar months remaining prior to the Stated Termination Date at the time such Capital Expenditure Loan is made. The Borrowers may prepay Capital Expenditure Loans at any time. In the event that any of the Capital Expenditure Loan Equipment that served as the basis, in whole or in part, on which any Capital Expenditure Loan was made, shall be sold or otherwise disposed of by the applicable Borrower (which sale or other disposition shall be made in accordance with the terms of Section 5.11), such Borrower shall prepay such Capital Expenditure Loan in an amount equal to the portion of the outstanding principal amount of such Capital Expenditure Loan allocable to the Capital Expenditure Loan Equipment to be sold or otherwise disposed of. In the event that any such sale or other disposition shall be made of Capital Expenditure Loan Equipment with respect to a Capital Expenditure Loan (A) that had been paid in full prior to such sale or other disposition, or (B) with respect to which the outstanding principal balance is less than the proceeds of such sale or other disposition, the prepayment described in the immediately preceding sentence (or the excess amount following prepayment in full of a Capital Expenditure Loan with respect to which the outstanding principal balance is less than the proceeds of the applicable sale or other disposition) shall be applied to the Capital Expenditure Loan made most recently prior to the date of such sale or other disposition. Any prepayment of any Capital Expenditure Loan shall be applied to the principal i...
Capital Expenditure Loans. (a) After the Partnership Note is paid in full, Star shall lend or shall arrange for loans to be made to the Partnership (“Capital Expenditure Commitment”), up to an aggregate amount of $15 million, to finance expenditures for capital assets or acquisitions of properties which the Partnership (with the consent of both partners) proposes to acquire (“Capital Expenditure Loans”). Capital Expenditure Loans shall not be used for working capital or to meet day to day obligations or trade liabilities. The Capital Expenditure Commitment shall be guaranteed by CPE. The Partnership shall not be entitled to reborrow the Capital Expenditure Loans when repaid. Capital Expenditure Loans shall bear interest at the rate of not more than 11% per annum and in the case of a Capital Expenditure Loan made by Star, the rate shall be 11% per annum. If the Partnership obtains a loan from a person other than Star to finance capital expenditures or acquisitions which bears a variable interest rate, then at such time as such interest rate exceeds 11% per annum the Partnership shall, at the request of the Xxxxx Partner, be entitled to draw upon the Capital Expenditure Commitment to the extent available to refund or refinance such loan. Each Capital Expenditure Loan shall be repayable in 120 equal consecutive installments comprising principal and interest, sufficient to repay such Capital Expenditure Loan in fixed level installments over 10 years, with the first such installment due on the first day of the month following the date the Theatre Property which is the subject of such loan is opened (in the case of new construction) or acquired (in the case of an acquisition) or the date the capital assets which are the subject of such loan are acquired. All Capital Expenditure Loans shall be evidenced by a Promissory Note of the Partnership in form satisfactory to the Partners, and will be secured by each Partner’s interest in the Partnership and by all of the assets of the Partnership but otherwise shall be without recourse to the Partners. After the Capital Expenditure Loans shall have been expended by the Partnership, the Partners shall meet to discuss in good faith the method of financing further capital expenditures and acquisitions.
Capital Expenditure Loans. Section 2(d) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
Capital Expenditure Loans. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time after the initial Loans are advanced hereunder, Lender shall make advances to Borrower up to eighty percent (80%) of the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of Equipment to be purchased with the proceeds of such advances, (including, without limitation, Equipment purchased since June 30, 2001) which Equipment is acceptable to Lender in its sole discretion, and upon which Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced for such purchases shall not exceed Four Million and No/100 Dollars ($4,000,000.00), (ii) at least five (5) Business Days prior to any such advance hereunder, Borrower shall have furnished to Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Lender shall reasonably require to assure that Lender has a first priority perfected security interest in such Equipment, and (iii) all such advances hereunder shall occur on or before the date that is six (6) months after the date hereof.
Capital Expenditure Loans. 27 2.6. Maximum Revolving Advances.....................................27 2.7.
Capital Expenditure Loans. If any of the requested Loans are Capital Expenditure Loans, the cumulative principal amount of Capital Expenditure Loans made hereunder including the requested Capital Expenditures Loans (regardless of any subsequent repayment thereof) does not exceed $50,000,000. Each Notice of Borrowing and Notice of Conversion/ Continuation submitted by the Company hereunder shall constitute a representation and warranty by the Company hereunder, as of the date of each such notice and as of each Borrowing Date or Conversion/Continuation Date as applicable, that the conditions in Section 4.2 are satisfied.
