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, 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. 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 May 1, 2005 2004 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 Three Hundred Thousand Dollars ($1,000,000.00300,000.00), (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. 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 one (1) advance advances to the Borrowers of 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 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 advanceadvances, 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 maximum aggregate amount advanced hereunder for such purchases shall not exceed One Million and No/100 Dollars ($1,000,000.00), (ii) at least five ten (510) 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 to assure that Agent Lender has a first priority perfected security interest in such Equipment, and (iii) the Borrowers each advance hereunder shall have executed be in an amount not less than Two Hundred Thousand and delivered to Agent a CapEx Note in the form of Exhibit D annexed heretoNo/100 Dollars ($200,000.00). The CapEx Line Capital Expenditure Loans shall not be available for advance at any time during which a Default or Event of Default has occurred unless evidenced by the Agent in its sole discretion waives such Default or Event of Default in writingCapital Expenditure Note.”

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 one (1) advance advances 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 advanceadvances, 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 maximum aggregate amount advanced hereunder for such purchases shall not exceed One Two Million and No/100 Dollars ($1,000,000.00)2,000,000.00) during any Fiscal Year or Four Million and No/100 Dollars ($4,000,000.00) during the Original Term and Renewal Term, (ii) at least five two (52) 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 to assure that Agent Lender has a first priority perfected security interest in such EquipmentEquipment within twenty (20) days of each advance hereunder, and (iii) each advance hereunder shall be in an amount not less than Five Hundred Thousand and No/100 Dollars ($500,000.00) (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").”

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 each Lender severally and not jointly agrees to make advances to Borrowers in no event after the date which is six months prior an amount equal to the last day of the Term, Agent shall make one (1) advance to the Borrowers of its Pro Rata Share up to eighty seventy-five percent (8075%) 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 advanceadvances, which Equipment is acceptable to Agent in its reasonable discretionPermitted Discretion, and upon which Agent on behalf of Lender shall have a first priority perfected security interest; provided, that (i) the maximum aggregate amount advanced hereunder by all Lenders for such purchases shall not exceed One Two Million Five Hundred Thousand and No/100 Dollars ($1,000,000.00)2,500,000) and the aggregate amount advanced by any Lender shall not exceed its Capital Expenditure Loan Commitment, (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 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 Five Hundred Thousand and No/100 Dollars ($500,000). 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 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 writingreborrowed.”