Common use of Equipment Financing Clause in Contracts

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. (a) Within nine (9) months following the Closing Date, secure a binding commitment from MedCath Incorporated FinCo or one or more third party thixx xxrty 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