Equipment Loan Advances Sample Clauses

Equipment Loan Advances. Each Lender agrees to make a loan to Borrower (each such loan, an “Equipment Loan”) on the Closing Date in such Lender’s applicable Pro Rata Share of the Maximum Equipment Loan Commitment. The Commitments of Lenders to make Equipment Loans shall expire concurrently with the making of the Equipment Loans on the Closing Date.
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Equipment Loan Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Equipment Loan Advance set forth in this Agreement, to obtain an Equipment Loan Advance, Borrower must notify Bank (which notice shall be irrevocable) by electronic mail or facsimile no later than 12:00 p.m. Pacific time one (1) Business Day before the proposed Funding Date. The notice shall be a Payment/Advance Form, must be signed by a Responsible Officer or designee, and shall include a copy of the invoice for the Equipment being financed. If Borrower satisfies the conditions of each Equipment Loan Advance, Bank shall disburse such Equipment Loan Advance by transfer to the Designated Deposit Account.
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Equipment Loan Advances. Between October 3, 2014 and the Amendment Effective Date (defined below), Secured Party made Equipment Loan Advances (defined below) to Debtor in the aggregate amount of THREE HUNDRED NINETY NINE THOUSAND EIGHT HUNDRED SEVENTY SEVEN and 00/100 Dollars ($399,877.00) (the “Existing Advances”). Subject to the terms and conditions set forth in this Agreement, Secured Party agrees to make additional advances for the purchase of Eligible Equipment (defined below) (each an “Equipment Loan Advance” and collectively, the “Equipment Loan Advances”) to Debtor from time to time on any business day during the period from October 3, 2014 up to and including May 26, 2017 (the “Drawdown Period”); provided, however, that at no time shall the aggregate amount of all Equipment Loan Advances (including the Existing Advances) exceed the lesser of (i) one hundred percent (100%) of the documented cost of the Eligible Equipment and (ii) ONE MILLION THREE HUNDRED NINETY NINE THOUSAND EIGHT HUNDRED SEVENTY SEVEN and 00/100 DOLLARS ($1,399,877.00) (the “Committed Amount”). “Eligible Equipment” for the purposes of this Agreement includes new laboratory equipment excluding shipping costs, taxes, installation costs and other soft costs. Notwithstanding anything to the contrary contained in this Agreement, (i) any and all Equipment Loan Advances must be made no later than one hundred twenty (120) days after Debtor’s purchase of Eligible Equipment, (ii) each Equipment Loan Advance must be equal to or greater than $50,000; (iii) the Equipment Loan Advances are limited to two (2) on or after the date on which that certain First Amendment to Master Security Agreement by and between Debtor and Secured Party is executed (the “Amendment Effective Date”) and (iv) any Equipment Loan Advance must be made within twelve (12) months from the Amendment Effective Date. Any amounts repaid with respect to any Equipment Loan Advance may not be reborrowed.”
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Equipment Loan Advances. Subject to the terms and conditions set forth in this Agreement, Secured Party agrees to make advances for the purchase of Eligible Equipment (defined below) (each an “Equipment Loan Advance” and collectively “Equipment Loan Advances”) to Debtor from time to time on any business day during the period from March 24, 2005 up to and including, December 31, 2005 (the “Drawdown Period”); provided, however, that at no time shall the aggregate amount of all Equipment Loan Advances exceed Five Hundred Thousand Dollars ($500,000) (the “Committed Amount”), exclusive of amounts currently outstanding under previous advances. “Eligible Equipment” for the purposes of this Agreement may include new lab and test equipment provided, however, that computer, office automation equipment and furnishings may not exceed fifteen percent (15%) of the Committed Amount. Notwithstanding anything to the contrary contained in this Agreement, (i) the initial Equipment Loan Advance may include purchases of Eligible Equipment made within ninety (90) days prior to the date of such Equipment Loan Advance, (ii) future Equipment Loan Advances, if any, will be made within sixty (60) days of Debtor’s purchase of Eligible Equipment, (iii) each Equipment Loan Advance must be equal to or greater than $50,000 and (iv) the Equipment Loan Advances are limited to five (5) in total. Any amounts repaid with respect to any Equipment Loan Advance may not be reborrowed.
Sample 1
Equipment Loan Advances. Subject to the terms and conditions set forth in this Agreement, Secured Party agrees to make advances for the purchase of Eligible Equipment (defined below) (each an “Equipment Loan Advance” and collectively “Equipment Loan Advances”) to Debtor from time to time on any business day during the period from March 21, 2011 up to and including, March 21, 2012 (the “Drawdown Period”); provided, however, that at no time shall the aggregate amount of all Equipment Loan Advances exceed the lesser of (i) one hundred percent (100%) of the documented cost of the Eligible Equipment and (ii) TWO MILLION DOLLARS and 00/100 ($2,000,000) (the “Committed Amount”). “Eligible Equipment” for the purposes of this Agreement includes new laboratory equipment excluding shipping costs, taxes, installation costs and other soft costs. Notwithstanding anything to the contrary contained in this Agreement, (i) any and all Equipment Loan Advances must be made no later than ninety (90) days prior to Debtor’s purchase of Eligible Equipment, (ii) each Equipment Loan Advance must be equal to or greater than $50,000 and (iii) the Equipment Loan Advances are limited to five (5) in total. Any amounts repaid with respect to any Equipment Loan Advance may not be reborrowed.
Sample 1
Equipment Loan Advances. Subject to the terms and conditions set forth in this Agreement, Secured Party agrees to make advances for the purchase of Eligible Equipment (defined below) (each an “Equipment Loan Advance” and collectively “Equipment Loan Advances”) to Debtor from time to time on any business day during the period from October 29, 2004 up to and including, December 31, 2004 (the “Drawdown Period”); provided, however, that at no time shall the aggregate amount of all Equipment Loan Advances exceed Two Hundred Fifty Thousand Dollars ($250,000) (the “Committed Amount”). “Eligible Equipment” for the purposes of this Agreement may include new lab and test equipment provided, however, that computer, office automation equipment and furnishings may not exceed fifteen percent (15%) of the Committed Amount. Notwithstanding anything to the contrary contained in this Agreement, (i) the initial Equipment Loan Advance may include purchases made no later than April 1, 2004 provided, that, such initial advance shall not exceed $100,000, (ii) future Equipment Loan Advances, if any, will be made within sixty (60) clays of Debtor’s purchase and (iii) any amounts repaid with respect to any Equipment Loan Advance may not be reborrowed.
Sample 1

Related to Equipment Loan Advances

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

  • 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 0.50% above the Prime Rate.

  • Loan Advances The Lender agrees to make advances to the Borrower from time to time until December 1, 1995, subject to all of the terms and conditions of this Agreement. All requests by the Borrower for advances shall be made in such manner and form and with such prior notice to the Lender as the Lender may reasonably require from time to time. Each request for an advance shall be for a minimum amount of $50,000.00. Each such request shall contain or be accompanied by such information and documents (which shall be Certified if required by the Lender) concerning the Collateral, the Borrower's financial condition, use of the proceeds of such advance and of advances previously made and/or any other matters as the Lender may from time to time require. In no event shall the Lender be obligated to make any advance hereunder if an Event of Default has occurred under the Note or if such advance would cause the total principal amount of advances made and outstanding hereunder to exceed the Maximum Loan Amount. Even if the total principal amount of advances outstanding shall at any time and for any reason exceed the Maximum Loan Amount, the Borrower shall nonetheless be liable for the entire principal amount outstanding, with interest thereon at the rate and calculated in the manner provided in the Note, in accordance with this Agreement and the Note. If the total principal amount of advances outstanding hereunder shall at any time exceed the Maximum Loan Amount, the Borrower shall immediately pay to the Lender upon demand the amount of such excess, with interest thereon at the rate and calculated in the manner provided in the Note. The Borrower agrees that the Borrower shall be liable for, and the Collateral shall secure, the repayment of each advance made by the Lender to or for the Borrower hereunder, with interest at the rate and calculated in the manner provided in the Note, whether or not such advance was duly requested or authorized by the Borrower and whether or not any person requesting such advance was duly authorized to make such request. Subject to all of the terms and conditions of this Agreement and the other Loan Documents, the Borrower may borrow hereunder until December 1, 1995. Borrower acknowledges and agrees that on December 1, 1995, the Lender shall advance to the Borrower the balance of the Loan, should such funds not have been previously advanced by the Lender.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Agent Advances (i) Subject to the limitations set forth below and notwithstanding anything else in this Agreement to the contrary, the Administrative Agent is authorized by the Borrowers and the Lenders, from time to time in the Administrative Agent’s sole discretion, (A) at any time that a Default exists, (B) at any time that any of the other conditions precedent set forth in Article 4 have not been satisfied, or (C) at any time an Overadvance exists or would result from any Agent Advance (as defined below), to make Base Rate Advances to the Borrowers on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed (together with all other Aggregate Revolving Credit Obligations) the lesser of (y) the Revolving Loan Commitment or (z) $5,000,000, which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (3) to pay any other amount chargeable to the Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as provided under this Agreement (any of such advances are herein referred to as “Agent Advances”); provided, that (i) such amount shall not be outstanding more than 30 days and (ii) the Majority Lenders may at any time revoke the Administrative Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. The Administrative Agent shall promptly provide to the Administrative Borrower written notice of any Agent Advance.

  • The Loan Facility (a) This Loan Facility is subject to the terms and conditions of the Master Facility Agreement as varied or supplemented by these Facility Specific Terms.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

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