Equipment Acquisition Loans definition

Equipment Acquisition Loans means the Loans described in Section 2(d) of the Schedule.
Sample 1Sample 2Sample 3
Equipment Acquisition Loans means all Equipment Acquisition Loans under, and as defined in, the Existing Credit Agreement.
Sample 1Sample 2
Equipment Acquisition Loans means loans made to the Borrowers pursuant to SECTION 2B.1.
Sample 1

Examples of Equipment Acquisition Loans in a sentence

  • CNB agrees to make loans ("Equipment Acquisition Loans") to Borrower from time to time up to, but not including, January 31, 2003, up to the amount of Two Million Dollars ($2,000,000.00) (the "Equipment Acquisition Commitment"), the proceeds of which will be used to pay up to one hundred percent (100%) of the purchase price of new machinery and equipment, excluding sales taxes, delivery and set-up charges, or other asset acquisitions.

  • Interest will be payable monthly in arrears on the f1rst day of each month, for the previous month, starting on the first such date following disbursement and on the date the Equipment Acquisition Loans are paid in full.

  • Prior to the Termination Date, and provided that no Event of Default or Potential Event of Default exists at the time of Borrower's request, CNB agrees to make loans ("Equipment Acquisition Loans") to Borrower up to the amount of the Equipment Acquisition Commitment, for the acquisition of new fixed assets consisting of new or used equipment.

  • If, after Bank's receipt and review of each Borrower's most recent fiscal year end audited financial statements, Bank desires to extend its commitment to make Revolving Loans and/or Equipment Acquisition Loans hereunder for an additional period of time, Bank will notify Borrowers of the terms upon which Bank would be willing to do so.

  • On July 26, 2021, the Company issued 500,000 shares of common stock to a consultant for services rendered.

  • Subject to the provisions of Section 2.4.3, Borrower may prepay any Equipment Acquisition Loans provided that on each prepayment, Borrower will pay the accrued interest on the prepaid principal, to the date of such prepayment.

  • Interest will be payable monthly in arrears on the first day of each month, for the previous month, starting on the first such date following disbursement and on the date the Equipment Acquisition Loans are paid in full.

  • Not later than 1:30 p.m. on the proposed borrowing date, each Lender will make available to the Agent, for the account of the Borrowers, at the Agent's Office in funds immediately available to the Agent (in Dollars in the case of U.S. Equipment Acquisition Loans, and in the Alternate Currency in the case of German Acquisition Loans), an amount equal to such Lender's Commitment Percentage of such Prime Rate Equipment Acquisition Loan or LIBOR Equipment Acquisition Loan, as the case may be.

  • Each Equipment Acquisition Loan shall be in a minimum amount of $50000 and the aggregate original principal amount of all Equipment Acquisition Loans shall not exceed $3000000, or such greater amount to which Bank, in its sole discretion, may agree upon Borrowers' request.

  • Failing such loan committee approval, this Agreement and Bank's commitment to make Revolving Loans, and Equipment Acquisition Loans, hereunder shall terminate as aforesaid on the applicable Termination Date.


More Definitions of Equipment Acquisition Loans

Equipment Acquisition Loans means the Loans described in Section [2(d)] of the Schedule.
Sample 1

Related to Equipment Acquisition Loans

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Working Capital Loans means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • Closing Date Term Loans means the Term Loans made by the Term Lenders on the Closing Date to the Borrower pursuant to Section 2.01(1).

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Non-Financed Capital Expenditures means Capital Expenditures not financed by the seller of the capital asset, by a third party lender or by means of any extension of credit by Lender other than by means of an Advance under the Revolving Credit Facility.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Refinancing Loans means any Refinancing Term Loans or Refinancing Revolving Loans.

  • Second Lien Term Loans means the “Term Loans” (or any comparable term) as defined in the Second Lien Credit Agreement.

  • Business Acquisition means (a) an Investment by the Borrower or any Restricted Subsidiary in any other Person pursuant to which such Person shall become a Subsidiary or shall be merged into or consolidated with the Borrower or any Restricted Subsidiary or (b) an acquisition by the Borrower or any Restricted Subsidiary of the property and assets of any Person (other than a Subsidiary) that constitutes substantially all of the assets of such Person or any division or other business unit of such Person.

  • Permitted Acquisition Consideration means in connection with any Permitted Acquisition, the aggregate amount (as valued at the Fair Market Value of such Permitted Acquisition at the time such Permitted Acquisition is made) of, without duplication: (a) the purchase consideration paid or payable in cash for such Permitted Acquisition, whether payable at or prior to the consummation of such Permitted Acquisition or deferred for payment at any future time, whether or not any such future payment is subject to the occurrence of any contingency, and including any and all payments representing the purchase price and any assumptions of Indebtedness and/or Guarantee Obligations, “earn-outs” and other agreements to make any payment the amount of which is, or the terms of payment of which are, in any respect subject to or contingent upon the revenues, income, cash flow or profits (or the like) of any Person or business and (b) the aggregate amount of Indebtedness incurred or assumed in connection with such Permitted Acquisition; provided, in each case, that any such future payment that is subject to a contingency shall be considered Permitted Acquisition Consideration only to the extent of the reserve, if any, required under GAAP (as determined at the time of the consummation of such Permitted Acquisition) to be established in respect thereof for the Borrower or its Restricted Subsidiaries.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • Refinancing Equipment Notes and “Refinancing Trust” shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Bridge Loans means the Loans (as defined in the Bridge Credit Agreement).

  • business acquisition report means a completed Form 51-102F4 Business Acquisition Report;

  • Acquisition Debt means any Indebtedness incurred by the Borrower or any of its Subsidiaries for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Borrower, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds of such Indebtedness to the Borrower and/or its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Borrower and/or its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Closing Date Acquisition shall have the meaning assigned to such term in the recitals hereto.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Wholesale acquisition cost means the same as that term is defined in 42 U.S.C. Sec. 1395w-3a.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.