Equipment Credit definition

Equipment Credit means the Equipment Credit loans to be advanced to the Company by the Equipment Credit Lenders pursuant to Article 2.A hereof, in an aggregate amount (subject to the terms hereof), not to exceed, at any one time outstanding, the Equipment Credit Aggregate Commitment.
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Equipment Credit means the credit facility in the maximum principal amount of Three Million Eight Hundred Thousand Dollars ($3,800,000) established by Lender for Borrowers pursuant to Section 2.3 under which, subject to the terms and conditions set forth in Sections 2.3, 8.1 and 8.2, Lender may make one or more Equipment Loans to Borrowers.
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Equipment Credit shall have the meaning assigned to such term in Section 2.012.
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Examples of Equipment Credit in a sentence

  • Any partial prepayments of an Equipment Credit Advance shall be applied to principal payments in the inverse order of their maturities.

  • The Equipment Credit shall be the ** x payment due, and the Equipment Credit shall be reduced by a like amount.

  • If any such proceeds have not been Reinvested at the end of the Reinvestment Period, Borrower shall promptly pay such proceeds to Agent, to be applied to repay the Term Loan and the Equipment Credit Advances in accordance with clauses (e) and (f) hereof.

  • The obligation of any Equipment Credit Lender to make any Advance of the Equipment Credit hereunder shall not be affected by the failure of any other Equipment Credit Lender to make any Advance hereunder, and no Equipment Credit Lender shall have any liability to the Borrower or any of its Subsidiaries, the Agent, any other Equipment Credit Lender, or any other party for another Equipment Credit Lender’s failure to make any loan or Advance hereunder.

  • If any such proceeds have not been Reinvested at the end of the Reinvestment Period or if for any reason Agent does not have a first priority Lien on the replacement assets, Borrower shall promptly pay such proceeds to Agent, to be applied to repay the Term Loan and the Equipment Credit Advances in accordance with clauses (e) and (f) hereof.

  • Section 1: The following benefits are available to bargaining unit members during the life of this Agreement: Uniforms & Equipment Credit Union Membership $50,000 Life Insurance Prescription Drug Plan Vision Care Plan Dental Plan Medical Insurance * Payroll deducted benefit.

  • Customer may at any time choose to apply less than the above stated maximum Equipment Credit amount or the above stated maximum Additional Equipment Credit amount to any order and increase the cash portion.

  • If Agent has received the aforesaid written approvals of such Request from each of the Lenders, then, effective upon the date of Agent’s receipt of all such written approvals from the Lenders, as aforesaid, the Equipment Credit Maturity Date shall be so extended for an additional one year period, the term Equipment Credit Maturity Date shall mean such extended date and Agent shall promptly notify the Borrower that such extension has occurred.

  • The Equipment Credit or the Additional Equipment Credit shall be the EBTS percentage x payment due, and the Equipment Credit or the Additional Equipment Credit shall be reduced by a like amount.

  • Each Lender shall, not later than four weeks after the date such notice is given by Borrower to Agent, give written notice to the Agent stating whether such Lender is willing to extend the Equipment Credit Maturity Date as requested.

Related to Equipment Credit

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Equipment Advance has the meaning set forth in Section 2.1.2.

  • First draw sample means a one−liter sample of tap water that has been standing in plumbing pipes at least 6 hours and is collected without flushing the tap.

  • Equipment Schedule means (a) each Equipment Schedule attached to the applicable Requisition and (b) each Equipment Schedule attached to the applicable Lease Supplement.

  • Facility Production Limit means the production limit placed on the main product(s) or raw materials used by the Facility that represents the design capacity of the Facility and assists in the definition of the operations approved by the Director.