Capital Expenditure Loan definition

Capital Expenditure Loan has the meaning set forth in Section 2.3.

Capital Expenditure Loan means a Loan made pursuant to Section 2.01(a).

Capital Expenditure Loan shall have the meaning set forth in Section 2.1(c) of this Agreement.

Examples of Capital Expenditure Loan in a sentence

• If Lenders fail to commit to the full requested increase, Eligible Assignees may issue additional Revolver Commitments, Capital Expenditure Loan Commitments or Term Loan Commitments, as applicable, and become Lenders hereunder.

• Agent shall promptly notify Lenders of the requested increase and, within 10 Business Days thereafter, each Lender shall notify Agent if and to what extent such Lender commits to increase its Revolver Commitment, Capital Expenditure Loan Commitments or Term Loan Commitment, as applicable.

• Agent, Borrowers, and new and existing Lenders shall execute and deliver such documents and agreements as Agent deems appropriate to evidence the increase in and allocations of Revolver Commitments, Capital Expenditure Loan Commitments or Term Loan Commitments, as applicable.

• On the effective date of an increase, all outstanding Revolver Loans, LC Obligations, other exposures under the Revolver Commitments, Capital Expenditure Loan Commitments and Term Loan Commitments, as applicable shall be reallocated among Lenders, and settled by Agent if necessary, in accordance with Lenders’ adjusted shares of such Commitments.

• The outstanding principal balance and all accrued and unpaid interest under each Capital Expenditure Loan shall be due and payable upon the termination of this Agreement, whether by its terms, by prepayment, by acceleration, or otherwise.

More Definitions of Capital Expenditure Loan

Capital Expenditure Loan means the aggregate amount of Capital Expenditure Advances outstanding at any time.

Capital Expenditure Loan shall have the meaning specified in paragraph 3.B hereof.

Capital Expenditure Loan shall have the meaning provided in Section 1.01(b).

Capital Expenditure Loan means one or more of the term loans made, ------------------------ or to be made, by Foothill to Borrower pursuant to the terms of Section 2.3 hereof.

Capital Expenditure Loan means an advance under the Capital Expenditure Line.

Capital Expenditure Loan one or more term loans against seventy-five percent (75%) of the Borrower's hard cost of the Equipment purchased, and contingent upon covenant compliance ("Capital Expenditure Loans") in an aggregate outstanding principal amount not to exceed One Hundred Seventy Five Thousand Dollars ($175,000.00); provided, that the Capital Expenditure Loans, if any, shall be in such amounts and on such terms as are set forth on separate promissory notes of Borrower from time to time, each in form and substance satisfactory to FINOVA in its sole discretion. All Capital Expenditure Loans shall be interest only for the first year, then amortized over four years, but due and payable at the end of the second year. ============================================================================ INTEREST AND FEES: Revolving Interest Rate. Borrower shall pay FINOVA interest on the daily outstanding balance of Borrowers Revolving Credit Loans at a per annum rate of three percent (3%) in excess of the rate of interest announced publicly by Citibank, N.A., (or any successor thereto), from time to time as its "prime rate" (the "Prime Rate") which may not be such institution's lowest rate. The interest rate chargeable hereunder in respect of the Revolving Credit Loans (herein, the "Revolving Interest Rate") shall be increased or decreased, as the case may be, without notice or demand of any kind, upon the announcement of any change in the Prime Rate. Each change in the Prime Rate shall be effective hereunder on the first day following the announcement of such change. Interest charges and all other fees and charges herein shall be computed on the basis of a year of 360 days and actual days elapsed and shall be payable to FINOVA in arrears on the first day of each calendar month. Notwithstanding the foregoing, subsequent to the first anniversary date, the interest rate will be reduced to two and one- half percent (2.5%), provided that Borrower maintains the following: (i) continued profitability for the year ending December 31, 1999; (ii) meets or exceeds eighty percent (80%) of its profitability projections; (iii) no Event of Default has occurred; and (iv) FINOVA has received reviewed financial statements from a Certified Public Accountant acceptable to FINOVA.

Capital Expenditure Loan or "Capital Expenditure Loans" - the loan of Lender to Borrower evidenced by the Capital Expenditure Note.