Common use of Capital Expenditure Loans Clause in Contracts

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, but in no event after the date which is six months prior to the last day of the Term, Agent shall make advances to the Borrowers 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 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 aggregate amount advanced during the Term for such purchases shall not exceed One Million Dollars ($1,000,000), (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, (iii) each advance hereunder shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000), and (iv) 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 further advances 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. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time 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 Lender shall make advances to the Borrowers 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 Agent Lender in its reasonable sole discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced during the Term for such purchases shall not exceed One Million Five Hundred Thousand and No/100 Dollars ($1,000,000500,000.00), (ii) at least five three (53) Business Days prior to any such advance hereunder, the Borrowers such Borrower shall have furnished to Agent Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Agent Lender shall required require to assure that Agent Lender has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Two Hundred Fifty Thousand and No/100 Dollars ($250,00050,000.00), and (iv) . Amounts repaid with respect to the Borrowers shall have executed and delivered to Agent a CapEx Note in the form of Exhibit D annexed hereto. The CapEx Line shall Capital Expenditure Loans may not be available for further advances 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 writingreborrowed.

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, but in no event after the date which is six months prior to the last day of the Term, Agent shall make advances 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 May 1, 2004 with the working capital of such Borrower or (ii) is to be purchased with the proceeds of such advancesadvance, 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 aggregate maximum amount advanced during the Term hereunder for such purchases shall not exceed One Million Three Hundred Thousand Dollars ($1,000,000300,000.00), (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) each advance hereunder shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000), and (iv) 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 further advances 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. Subject to the terms and conditions of this Agreement and the Other AgreementsLoan Documents, from time to time 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 Lender shall make advances to the Borrowers up to eighty percent (80%) of (i) the purchase price (exclusive of sales taxes, delivery charges and other "soft" costs related to such purchase) of new Equipment, or (ii) the orderly liquidation value of used Equipment (as determined by an appraiser acceptable to Lender in its sole discretion), to be purchased with the proceeds of such advances, which Equipment is acceptable to Agent Lender in its reasonable sole discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (iA) the aggregate amount advanced during the Term for such purchases shall not exceed One Million Dollars ($1,000,000), (iiB) at least five three (53) Business Days prior to any such advance hereunder, the Borrowers such Borrower shall have furnished to Agent Lender an invoice and acceptance letter for the Equipment being purchased and shall have purchased, executed such documents and taken such other actions as Agent Lender shall required require to assure that Agent Lender has a first priority perfected security interest in such Equipment, including, without limitation, obtaining legal title to and taking delivery of such Equipment, and (iiiC) each advance hereunder shall be in an amount of not less than Two Hundred Fifty Thousand Dollars ($250,000200,000), and (iv) . Amounts repaid with respect to the Borrowers shall have executed and delivered to Agent a CapEx Note in the form of Exhibit D annexed hereto. The CapEx Line shall Capital Expenditure Loans may not be available for further advances 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 writingreborrowed.

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, but in no event after Lender shall, absent the date which is six months prior to the last day occurrence of the Terman Event of Default, Agent shall make advances to the Borrowers 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 Agent Lender in its reasonable sole discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the aggregate amount advanced during the Term for such purchases shall not exceed One Two Million and No/100 Dollars ($1,000,0002,000,000), (ii) at least five (5) Business Days prior to any such advance hereunder, the Borrowers Borrower shall have furnished to Agent Lender an invoice and acceptance letter for the Equipment being purchased and shall have executed such documents and taken such other actions as Agent Lender shall required require to assure that Agent Lender has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Two Hundred Fifty Thousand and No/100 Dollars ($250,000200,000), and (iv) . Amounts repaid with respect to the Borrowers shall have executed and delivered to Agent a CapEx Note in the form of Exhibit D annexed hereto. The CapEx Line shall Capital Expenditure Loans may not be available for further advances 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 writingreborrowed.

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 hereunderhereunder and the Initial Syndication has been completed, but in no event after the date which is six months prior each Lender severally and not jointly agrees to the last day of the Term, Agent shall make advances to Cantar U.S. in an amount equal to the Borrowers lesser of (i) 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, and (ii) up to eighty percent (80%) of the orderly liquidation value (as determined by an appraiser reasonably acceptable to Agent) of Equipment to be purchased with the proceeds of such advances, in each case, which Equipment is acceptable to Agent in its reasonable sole discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the aggregate original amount advanced during the Term by all Lenders for such purchases shall not exceed One Five Million and No/100 Dollars ($1,000,000)5,000,000.00) and the aggregate amount advanced by any Lender shall not exceed its Capital Expenditure Loan Commitment, (ii) at least five (5) 10 Business Days prior to any such advance hereunder, the Borrowers Cantar U.S. 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 require to assure that Agent has a first priority perfected security interest in such Equipment, and (iii) each advance hereunder shall be in an amount not less than Two One Hundred Fifty Thousand and No/100 Dollars ($250,000100,000), and (iv) 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 further advances 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. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time 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 advances 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 advancesadvance, 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 aggregate maximum amount advanced during the Term hereunder for such purchases shall not exceed One Million Dollars ($1,000,0001,000,000.00), (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) each advance hereunder shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000), and (iv) 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 further advances 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.”