Common use of Limitation on Borrowings Clause in Contracts

Limitation on Borrowings. Notwithstanding any other provision of this Agreement, the aggregate amount of all outstanding borrowings under the Term Commitment shall not at any time exceed a maximum of eighty percent (80%) of the cost of each item of new equipment purchased with the proceeds thereof, as evidenced by the seller's invoice.

Limitation on Borrowings. Notwithstanding any other provision of this Agreement, the aggregate amount of all outstanding borrowings under the Term Commitment shall not at any time exceed a maximum of eighty percent (80%) of the cost of each item of new equipment purchased with the proceeds thereof or seventy-five percent (75%) of the cost of each item of used equipment purchased with proceeds thereof, as evidenced by the seller's invoice.

Limitation on Borrowings. Notwithstanding any other provision of this Agreement, the aggregate amount of all outstanding borrowings under the Term Commitment shall not at any time exceed a maximum of eighty percent (80%) of the cost of each item of new equipment purchased with the proceeds thereof or seventy-five percent (75%) of the cost of each item of used equipment purchased with proceeds thereof, as evidenced by the seller's seller s invoice.