Capex Loans definition
Examples of Capex Loans in a sentence
The aggregate dollar amount of LIBOR Loans may not comprise more than 80% of the outstanding dollar amount of all Revolver Loans plus 100% of the outstanding dollar amount of all Term Loans plus 100% of the outstanding dollar amount of all Capex Loans minus any scheduled principal payments of the Term Loans to be made pursuant to Section 5.3.1 minus any scheduled principal payments of the Capex Loans to be made pursuant to Section 2.2B.3 during Interest Periods for all LIBOR Loans.
Subject to the terms and conditions of this Agreement, the Obligors and each Lender agree that on the Closing Date, the Existing Capex Loans shall be re-evidenced as Capex Loans loans under this Loan Agreement and the terms applicable thereto shall be restated in their entirety and shall be evidenced by this Agreement.
After the Mexican Project Loan Opening, further Mexican Draw Disbursements and disbursements of the Capex Loans shall be made from time to time as the Construction progresses, but no more frequently than (i) once in each calendar month with respect to the Capex Loans, and (ii) once in each calendar month with respect to the Mexican Draw Disbursements.
Each Borrower shall use the proceeds of the Capex Loans or the Mexican Loan, as applicable, solely for the payment of costs as specified in the Budget.
Concurrently with any reduction of the Revolving Commitment Amount or the Capex Loan Commitment to zero, the Loan Parties shall pay all interest on the Revolving Loans or the Capex Loans (as the case may be) all non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.