Common use of Equipment Loans Clause in Contracts

Equipment Loans. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through February 28, 2000, (the "Equipment Availability End Date"), but no more frequently than once during each calendar month, Bank agrees to make advances (each an "Equipment Loan") to Borrower in an aggregate amount not to exceed the Equipment Commitment. Borrower shall deliver to Bank, at the time of each Equipment Loan request, an invoice for the equipment to be financed by such Equipment Loan. The Equipment Loans shall be used only to purchase or refinance Equipment purchased on or after 90 days prior to the date hereof (provided, that the initial advance to Borrower under this Section 2.1.2 may be utilized to refinance Equipment purchased by Borrower at any time on or after January 1, 1998) and shall not exceed 100% of the invoice amount of such equipment approved from time to time by Bank, including sales taxes, freight, and installation expenses.