Equipment Line Sample Clauses

Equipment LineThe Equipment Line Early Termination Fee when due pursuant to the terms of Clause 2.1.2(d).
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Equipment LineSubject to Section 2.3(b), at Borrower’s election, the principal amount outstanding for each Equipment Advance shall accrue interest at either: (i) the greater of (x) a floating per annum rate equal to one percentage point (1.0%) above the Prime Rate, or (y) six and three-quarters of one percent (6.75%), or (ii) a fixed per annum rate equal to eight and one-quarter of one percent (8.25%), determined by Bank as of the applicable Funding Date, which interest shall be payable monthly in accordance with Section 2.3(f).” and inserting in lieu thereof the following:
Equipment Line. The maximum availability under the Equipment Line is hereby increased to $1,000,000 as of the Amendment Date. All Advances under the Equipment Line shall be limited to 100% of the face amount of equipment invoices (excluding taxes, shipping and installation) submitted with any Advance Request.
Equipment Line. Thirty-six (36) months from the date of the final -------------- draw under the Equipment Line. Borrower shall make no more than five (5) draws under the Equipment Line, which draws must be requested and made within the twelve (12) month period immediately following the Closing Date (the "Equipment Line Expiration Date").
Equipment Line. On or prior to a draw under the Equipment Line, the Borrower shall deliver to the Bank invoices supporting the invoice cost amount included in the calculation of the first draw in accordance with Exhibit B.
Equipment LineThe principal amount from time to time outstanding under the Equipment Line prior to the Conversion Date, and the principal amount outstanding on the Equipment Line from and after the Conversion Date, shall bear interest at a rate per annum equal to the sum of the Base Rate and 0.75%, but in no event greater than the maximum rate permitted by law. Interest will be computed on the basis of a 360 day year and for the actual days elapsed.
Equipment LineAccrued interest will be due and payable on -------------- the 15th day of each month. From and after each respective Tranche A Conversion Date or Tranche B Conversion Date (as each is hereinafter defined), advances under the Equipment Line made during the corresponding Tranche A Borrowing Period or Tranche B Borrowing Period (as each is hereinafter defined) shall be due and payable in thirty-six (36) equal consecutive monthly installments, commencing on the 15th day of the month following the respective Tranche A Conversion Date or Tranche B Conversion Date, and continuing on the 15th day of each month thereafter until paid in full. Each principal payment shall be in an amount determined by dividing (i) the principal amount of advances made during the respective Tranche A Borrowing Period or Tranche B Borrowing Period and outstanding under the Equipment Line on the respective Tranche A Conversion Date or Tranche B Conversion Date, by (ii) thirty-six (36). The outstanding balance of any tranche and any accrued but unpaid interest thereon shall be due and payable on the 15th day of the 36th month following the respective Tranche A Conversion Date or Tranche B Conversion Date, but in no event later than June 30, 2005.
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Equipment Line. The following Section 2.7 is hereby added to the Original Agreement:
Equipment LineSection 2.1 3(c) of the Loan Agreement is hereby deleted in its entirety and the following is inserted in substitution thereof:
Equipment LineAll advances under the Equipment Line must be requested and made within the three hundred sixty four (364) day period immediately following the Closing Date (the "EQUIPMENT LINE EXPIRATION DATE"). Six months from the Closing Date (the "FIRST TERM LOAN CONVERSION DATE") all Equipment Line advances then outstanding will convert into a term loan (the "FIRST TERM LOAN"). On the Equipment Line Expiration Date, all Equipment Line advances made since the First Term Loan Conversion Date shall be converted into a second term loan (the "SECOND TERM LOAN"). Each of the First Term Loan and the Second Term Loan shall provide for repayment of principal and interest in twenty four (24) equal monthly installments.
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