Examples of CapEx Term Loan in a sentence
The Borrower Representative shall notify the Lender at the time of the conversion of the CapEx Loans to a CapEx Term Loan whether the CapEx Term Loan will be a CBFR Borrowing or a Eurodollar Borrowing.
If the Borrower Representative fails to notify the Lender at the time of the conversion whether the CapEx Term Loan will be a CBFR Loans or a Eurodollar Loans, then the CapEx Term Loan will be a CBFR Loan.
The Lender is hereby authorized and directed by the Borrowers to apply the proceeds of the CapEx Term Loan to the principal and interest then owed on the CapEx Loans being converted.
On the last day of the CapEx Commitment Period, the Lenders shall convert all CapEx Loans outstanding into a CapEx Term Loan in the aggregate principal amount of such CapEx Loans.
In addition to all other rights and remedies under this Agreement, the Cap/Ex Term Loan, together with all accrued and unpaid interest thereon and the early termination fee in respect thereof, shall, at Lender's option, be immediately due and payable if this Agreement shall be terminated or not renewed for any reason whatsoever, or upon the occurrence of any Event of Default hereunder.
The Cap/Ex Term Loan shall be evidenced by and subject to the terms and conditions of a promissory note (the "Cap/Ex Note"), which Cap/Ex Note shall be in form and substance satisfactory to Lender and shall be dated as of the last day of the first calendar month next following the Cap/Ex Line Termination Date.
In the event such notice is not received by Lender within such thirty (30) day period, or such replacement Equipment is not purchased within ninety (90) days after such notice is received by Lender, said proceeds shall be immediately applied by Lender in respect of the Cap/Ex Term Loan.
Lender shall not be obligated to provide any Advances or any CapEx Term Loan during any period that an Overadvance Amount is outstanding.
Each CapEx Term Loan hereunder shall be in the principal amount of Two Hundred Fifty Thousand Dollars ($250,000) or more.
Each advance under the CapEx Term Loan Facility shall be repayable in installment payments of principal monthly (commencing on the first day of the first (1st) month after the month in which such advance was made and on the first day of each month thereafter) in an amount equal to 1/84th of the amount of the advance.