Facility B Equipment Advances. Except as set forth in Section 2.3(b), the Facility B Equipment Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to one half of one percent (0.50%) above the Prime Rate.
Facility B Equipment Advances. (i) Subject to and upon the terms and conditions of this Agreement, at any time from the date of this Amendment through the day prior to the first anniversary of such date, Bank agrees to make advances (each an “Facility B Equipment Advance” and, collectively, the “Facility B Equipment Advances”) to Borrower in an aggregate amount not to exceed the Facility B Equipment Line. Each Equipment Advance shall not exceed one hundred percent (100%) of the invoice amount of equipment and software on any invoice approved by Bank (which Borrower shall, in any case, have purchased within 90 days of the date of the corresponding Facility B Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense. Facility B Equipment Advances for software approved by Bank shall not exceed Seven Hundred Fifty Thousand Dollars ($750,000) in the aggregate of all Facility B Equipment Advances. Notwithstanding the foregoing, subject to and upon the terms and conditions of this Amendment and the Agreement, and subject to the limitation above on software, Bank agrees to make a single Facility B Equipment Advance on or about the date of this Amendment (the “Amendment Date Equipment Advance”) for equipment and software approved by Bank (which Borrower shall have purchased after January 1, 2004, and which may not already be financed by Bank).
Facility B Equipment Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Facility B Equipment Advances to Borrower at any time from January 31, 2008 through the earlier of (a) the Facility B Full Utilization Date, and (b) the Facility B Availability End Date. Each Facility B Equipment Advance shall not exceed (x) 100% of the invoice amount of new equipment and software approved by Bank from time to time, excluding taxes, shipping, warranty charges, freight discounts and installation expense; and (y) 100% of the invoice amount for leasehold improvements, not to exceed $2,000,000.
Facility B Equipment Advances. Section 2.1.1 of the Loan Agreement hereby is amended and restated in its entirety to read as follows:
Facility B Equipment Advances. Subject to Section 2.3(b), the principal amount outstanding under the Facility B Equipment Line shall accrue interest at a floating per annum rate equal to one quarter of one percentage point (0.25%) below the WSJ Prime Rate.”
Facility B Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through June 30, 2000, Bank agrees to make advances (each a "Facility B Equipment Advance", collectively, the "Facility B Equipment Advances", and, collectively with the Facility A Equipment Advances, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Facility B Equipment Line. The Facility B Equipment Advances shall be used only to purchase Equipment, software, and furniture approved from time to time by Bank purchased on or after ninety (90) days prior to the date hereof, and shall not exceed one hundred percent (100%) of the invoice amount of such equipment, excluding taxes, shipping, warranty charges, freight discounts and installation expense.
Facility B Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, on the date of this Amendment, Bank agrees to make an Facility B Equipment Advance to Borrower in the aggregate outstanding amount of the Facility B Equipment Line. The Facility B Equipment Advance shall not exceed one hundred percent (100%) of the invoice amount of software and corporate purposes approved by Bank (which Borrower shall, in any case, have purchased within 90 days of the date of the Facility B Equipment Advance), including taxes, shipping, warranty charges, freight discounts and installation expense.
Facility B Equipment Advances. (i) Subject to, and upon the terms and conditions of this Agreement, at any time from the date hereof through March 19, 2005, Bank agrees to make advances (each, a “Facility B Equipment Advance” and, collectively, the “Facility B Equipment Advances”) to Borrower in an aggregate amount not to exceed Two Million Dollars ($2,000,000). Each Facility B Equipment Advance shall not exceed one hundred percent (100%) of the invoice amount of new equipment, furniture, software, and leasehold improvements (which Borrower shall, in any case, have purchased within one hundred twenty (120) days of the date of the corresponding Facility B Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expenses. Facility B Equipment Advances for software and leasehold improvements will be limited to Seven Hundred Fifty Thousand Dollars ($750,000) in the aggregate (“Facility B Software Advances”). Facility B Equipment Advances for equipment and furniture are hereinafter referred to as “Standard Facility B Equipment Advances”.
Facility B Equipment Advances. (a) Subject to the terms and conditions of this Agreement, Bank agrees to lend to Borrower, from December 21, 2004 through January 1, 2006, (the “Facility B Availability End Date”), equipment advances (“Facility B Equipment Advances”) in an aggregate amount not to exceed the Facility B Committed Equipment Line. When repaid, the Facility B Equipment Advances may not be reborrowed. The proceeds of each Facility B Equipment Advance will be used solely to reimburse Borrower for 100% of the Original Stated Cost of Eligible Equipment purchased. Each Facility B Equipment Advance must be for a minimum of $500,000. The number of Facility B Equipment Advances is limited to eight.
Facility B Equipment Advances. (i) Subject to and upon the terms and conditions of this Agreement, at any time from the date of this Amendment through November 27, 2004, Bank agrees to make advances (each an “Facility B Equipment Advance” and, collectively, the “Facility B Equipment Advances”) to Borrower in an aggregate amount not to exceed the Facility B Equipment Line. Each Equipment Advance shall not exceed one hundred percent (100%) of the invoice amount of equipment on any invoice approved by Bank (which Borrower shall, in any case, have purchased within 90 days of the date of the corresponding Facility B Equipment Advance), excluding taxes, shipping, warranty charges and freight discounts. The aggregate amount of Facility B Equipment Advances used for the purchase of software or leasehold improvements approved by Bank may not exceed twenty percent (20%) of the Facility B Equipment Advances.
