Equipment Credit Sample Clauses

Equipment Credit. 23 2.4 Use of Loan Proceeds..................................................... 25 2.5 No Limitations as to Collateral, Etc..................................... 26 2.6
Sample 1
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Equipment Credit. (a) Lender hereby establishes the Equipment Credit pursuant to which, subject to fulfillment to Lender's satisfaction on or before the Closing Date of all conditions precedent set forth in Sections 8.1 and 8.2 and subject as to each Equipment Loan to the fulfillment to Lender's satisfaction of the additional conditions precedent set forth in clause (b) below, and subject to all other terms and conditions of this Agreement and the Related Agreements, and in reliance upon the representations and warranties of the Loan Parties and each other Obligor set forth herein and in the Related Agreements, during the period commencing on the Closing Date and ending on the Equipment Credit Termination Date, Lender agrees to make such loans (individually an "Equipment Loan" and collectively the "Equipment Loans") to either Borrower from time to time as Holdings, on behalf of such Borrower, may from time to time request to finance the purchase of Equipment by such Borrower, provided that (i) the amount of each Equipment Loan shall not exceed seventy-five percent (75%) of the invoiced purchase price (net of taxes, freight, installation charges and other "soft" costs) of the Equipment being purchased with the proceeds thereof and (ii) the aggregate amount of Equipment Loans obtained by Borrowers hereunder shall not exceed Three Million Eight Hundred Thousand Dollars ($3,800,000).
Sample 1
Equipment Credit. The Bank shall, from time to time, prior to May 31, 2002 (the "Conversion Date"), make equipment loans to the Borrower ("Equipment Credit") in an aggregate amount not to exceed Four Million ($4,000,000.00) Dollars, with the Equipment Credit evidenced by a Master Equipment Promissory Note. Each advance under the Equipment Credit shall reduce the availability under the Master Equipment Promissory Note. Not later than the Conversion Date (or earlier, for all or any portion of outstanding advances, at the Borrower's election), the remaining outstanding balance of the Master Equipment Promissory Note shall termed out for a period of not more than Sixty (60) months, said term to be selected by the Borrower. Advances which are termed out shall be evidenced by a separate commercial promissory note (each an "Equipment Installment Note" and collectively the "Equipment Installment Notes") in a form substantially identical to Exhibit A-1. Amounts borrowed prior to the Conversion Date which have not been termed out prior to the Conversion Date and which have been repaid prior to the Conversion Date shall be available for reborrowing up to the Conversion Date, but not thereafter. The Borrower shall be entitled to borrow up to 80% percent of the retail invoice cost of new equipment purchased with the Loans pursuant to the Equipment Credit, with the Bank to have a first lien on all such equipment.
Sample 1
Equipment Credit 
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Related to Equipment Credit

  • Equipment, Etc Each Grantor shall, (i) within ten (10) days after a written request by the Administrative Agent, in the case of Equipment now owned, and (ii) following a request by the Administrative Agent pursuant to subclause (i) above, within ten (10) days after acquiring any other Equipment, deliver to the Administrative Agent, any and all certificates of title, and applications therefor, if any, of such Equipment and shall cause the Administrative Agent to be named as lienholder on any such certificate of title and applications. No Grantor shall permit any such items to become a fixture to real estate or an accession to other personal property unless such real estate or personal property is the subject of a fixture filing (as defined in the UCC) creating a first priority perfected Lien in favor of the Administrative Agent.

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to one and one half percent (1 .50%) above the Prime Rate.

  • Equipment and Supplies Independent Contractor, at Independent Contractor's sole expense, shall provide all equipment, tools and supplies necessary to perform the Service.

  • Equipment Loans Section 2.3(b) of the Loan Agreement shall be amended and restated in its entirety as follows:

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

  • Office Space, Equipment and Facilities Provide such office space, office equipment and office facilities as are adequate to fulfill the Adviser’s obligations hereunder.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • LESSOR'S ACCESS; SHOWING PREMISES; REPAIRS Lessor and Lessor's agents shall have the right to enter the Premises at any time, in the case of an emergency, and otherwise at reasonable times for the purpose of showing the same to prospective purchasers, lenders, or lessees, and making such alterations, repairs, improvements or additions to the Premises or to the Building, as Lessor may reasonably deem necessary. Lessor may at any time place on or about the Premises or Building any ordinary "For Sale" signs and Lessor may at any time during the last one hundred eighty (180) days of the term hereof place on or about the Premises any ordinary "For Lease" signs. All such activities of Lessor shall be without abatement of rent or liability to Lessee.

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease. 4.2.2

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