Equipment Financing. In addition to Leasehold Mortgages obtained by Lessee in accordance with Section 15.5 above, Lessee shall have the right to obtain financing (“Equipment Financing”) for the acquisition of items of equipment and other tangible personal property for use in the Hotel (collectively, “Personal Property”), with vendors or third party lenders (“Equipment Lenders”) so long as (i) the aggregate principal amount of such financing, whether structured as a loan or a lease, shall not exceed at any time the sum of Seven Hundred Fifty Thousand Dollars ($750,000.00) (which amount shall be escalated by the percentage increase in the CPI occurring between the Term Commencement Date and the date of such Equipment Financing); (ii) the security interest provided to such Equipment Lenders, whether in the form of a loan or a lease, is limited to the Personal Property so financed and does not constitute a Leasehold Mortgage or any other lien on the leasehold estate of Lessee, including Lessee’s leasehold interest in the Improvements, and any other purported encumbrance shall be void and of no effect; (iii) the actual or imputed interest rate on such equipment financing shall be at the then current market rate for such type of financing; and (iv) Lessee shall promptly provide to Lessor a true and correct copy of the financing documents entered into by Lessee in connection with such Equipment Financing. In the event that Lessee wishes to use Equipment Financing to acquire any Personal Property other than as expressly permitted pursuant to the foregoing provisions of this Section 15.6, such Equipment Financing shall comply with the requirements of clauses (ii) and (iii) above and in addition Lessee shall first obtain Lessor’s prior written approval of such equipment financing and the amount to be financed in relation to the cost of the equipment, which approval shall not be unreasonably withheld or delayed, provided that, without limiting the grounds on which Lessor shall be entitled to reasonably withhold such consent, it shall be reasonable for Lessor to withhold its consent to any such proposed equipment financing if Lessor reasonably determines that the lack of ownership of such equipment by Lessee could materially adversely affect the continued operation of the Hotel or the Hotel Business following the termination of this Lease on account of an Event of Default or could materially increase the cost of operation of the Hotel following such termination. In connection with any Equ...
Equipment Financing. The aggregate amount of principal, interest and lease payments due from Lessee and/or Sublessee with respect to any equipment leases or financing secured by equipment utilized in the operation of the Facilities shall not at any time during the Term exceed $609,000.00 in any one Lease Year.
Equipment Financing. (a) Within nine (9) months following the Closing Date, secure a binding commitment from MedCath Incorporated or one or more third party lenders (each, in such capacity, an "Equipment Lender" and collectively, the "Equipment Lenders") to finance the purchase or lease by the Borrower of the equipment to be included within the Project (the "Equipment Loan Financing"). The terms and conditions of each such commitment shall be in form and substance satisfactory to the Administrative Agent. Such terms and conditions shall include, without limitation, the following: (a) an interest rate not to exceed the Five-Year US Treasury Yield plus 7%, (b) a term of not less than thirty-six (36) months or more than one hundred twenty (120) months and (c) an amount equal to not less than eighty percent (80%) or more than one hundred percent (100%) of the cost of the equipment.
(b) Maintain the Equipment Loan Financing (after obtaining it as required pursuant to Section 7.16(a)); provided that the terms and conditions of the Equipment Loan Financing shall not be amended, modified or changed in a manner which is adverse in any respect to the rights or interests of the Administrative Agent or the Lenders unless approved in writing by the Administrative Agent
Equipment Financing. Indebtedness of the Borrowers with respect to equipment leases or equipment chattel mortgages, including any such Indebtedness assumed in connection with an acquisition permitted under Section 7.4.
Equipment Financing. 70 SECTION 7.17 Maintenance of Licenses, Etc............................................................. 70 SECTION 7.18 Insurance................................................................................ 71 SECTION 7.19
Equipment Financing. Tenant shall have the right from time to time to pledge, encumber or grant a security interest in its equipment, inventory, merchandise, trade fixtures and personal property, but not any equipment, fixtures or leasehold improvements or alterations which belong to, inure to the benefit of, or will belong to Landlord after the expiration or earlier termination of the Lease including any Tenant Alterations (collectively, the “Collateral”) in connection with financing or refinancing thereon by Tenant. Landlord will promptly execute following written request a waiver or release of lien rights and consent instrument in form and content reasonably acceptable to Landlord; provided, however, that any such instrument shall describe the Collateral with particularity and provide that (a) any entry into the Premises by such secured party may only be accomplished by prior written notice to Landlord and Landlord’s property manager and must occur during the Term of this Lease, (b) any secured property which remains in the Premises after the expiration or earlier termination of this Lease may be disposed of by Landlord in accordance with California law, (c) the secured party may not conduct an auction or other sale at the Premises, (d) prior to entering the Premises, such secured party must provide Landlord with evidence of insurance reasonably required by Landlord, must agree to act in a manner so as to minimize interference with other tenants and to comply with Landlord’s Rules and Regulations for the Project.
Equipment Financing. During the Term, The aggregate amount of principal, interest and lease payments due from Lessee on any equipment financing shall not exceed Twenty Five Thousand Dollars ($25,000) annually per Facility.
Equipment Financing. Responsibility for any equipment financing associated with the wireless subscription/device must be assumed by the new customer. Fast Forward – Responsibility for any Fast Forward charges associated with the wireless subscription must be assumed by the new customer. Fast Forward financing is not available with a Business Wireless Flex Contract. Any Fast Forward financing must be paid in full by the transferring customer before this transfer can be effective for a new customer choosing a Business Wireless Flex Contract.
Equipment Financing i. Customer shall provide HTWC with equipment financing in the amount of Five Hundred Thousand Dollars ($500,000.00 USD) (the “Equipment Financing”). The payment for the Equipment Financing shall be made by Customer as follows:
1. Within five (5) business days of the the execution of this Agreement, Customer shall pay Fourteen Thousand Five Hundred Ninety-Five Dollars ($14,595.00 USD) directly to HTWC’s vendor, Van Der Xxxxx, for an integrated peel tester;
2. Within five (5) business days of the, Customer shall pay One Hundred Thirty-Eight Thousand Three Hundred Thirty-One Dollars and 33/100ths ($138,331.33 USD) directly to HTWC’s vendor, SP VirTis, for a freeze dryer;
3. Within five (5) business days of the, Customer shall pay Two Hundred Fifty Four Thousand Eight Hundred Fifty-Two Dollars and 77/100ths ($254,852.77 USD) to HTWC; and
4. in accordance with the invoice terms for the final installment for the purchase of the freeze dryer, Ninety-Two Thousand Two Hundred Twenty and 90/100ths ($92,220.90) to HTWC’s vendor, SP VirTis.
Equipment Financing. The aggregate amount of principal, interest and lease payments due from Lessee and/or Sublessee with respect to any equipment leases or financing secured by equipment utilized in the operation of the Facilities shall not at any time during the Term exceed $1,000,000.00 in any one Lease Year.
6. The Existing Master Lease is hereby amended to add the following new Section 8.2.5 as follows:
