Equipment Debt definition

Equipment Debt means up to $5,000,000 in consolidated Indebtedness of Borrowers related to Borrowers’ equipment.
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Equipment Debt shall have the meaning set forth in Section 6.12.
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Equipment Debt means all Debt, the payment of which is secured by a Security Interest in or a lien against the Company’s equipment or motor vehicles but excludes any debt for borrowed money under that certain Revolving Credit Agreement dated May 15, 2003 by and between the Company and U.S. Bank N.A.
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Examples of Equipment Debt in a sentence

  • Schedule A accurately reflects the outstanding principal amount of and the payment dates, payment amounts, and maturity dates with respect to the Existing Equipment Debt.

  • For avoidance of doubt, taking an action permitted under the M&T Real Estate Debt and/or the M&T Equipment Debt which results in a required payment or prepayment, such as by way of example only, selling a parcel of real estate, shall not make such payment a voluntary prepayment.

  • Schedule A accurately reflects the outstanding principal amount, payment amounts, and maturity dates with respect to the Existing Equipment Debt.

  • The purchase price of the Stock shall be in United States dollars, payable in cash, check, Promissory Note secured by the Shares issued through exercise of the related Options, or in property or Corporation stock, if so permitted by the Board or the Stock Option Committee in accordance with the discretion granted in Paragraph 5 hereof, having a value equal to such purchase price.

  • Payment in full of all Existing Equipment Debt and the full and complete release and termination of all Existing Equipment Security Documents.

  • Equipment Advances, including the Existing Equipment Debt, accrue interest on the outstanding principal balance thereof at a per annum rate equal to one-half percentage point (0.50%) above the Prime Rate.

  • There shall be maintained two separate subaccounts in the Debt Service Account to be designated the "Improvements Debt Service Subaccount" and the "Equipment Debt Service Subaccount".

  • On the Closing Date, Sellers shall cause (i) the debt (as determined in accordance with GAAP) (other than debt incurred in 2001 to purchase coil tubing equipment and accessory assets (collectively, "Equipment Debt") of the Company) to not exceed $4,500,000 and (ii) Equipment Debt of the Company to not exceed $3,000,000.

  • The Existing Equipment Debt shall, for all purposes hereof, be "Equipment Advances" hereunder and be governed by all the terms and conditions of this Agreement, except that the principal of said Existing Equipment Debt shall continue to be payable as set forth on Schedule A.

  • Buyers shall have paid or satisfied, or shall -------------- have made arrangements satisfactory to Sellers to pay or satisfy, the Equipment Debt (as defined in Section 8.5).


More Definitions of Equipment Debt

Equipment Debt means Indebtedness of Seller in respect of certain Business Equipment as set forth on Schedule G attached hereto.
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Equipment Debt means that certain senior subordinated supplier debt in an original principal amount not to exceed $25.0 million in favor of one of the Company's suppliers or its designee.
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Equipment Debt means debt incurred or assumed by the Company to acquire (by lease, purchase or otherwise), and to be secured solely by, equipment, machinery, fixtures, motor vehicles and other personal property to be used in the operation of the Project.
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Equipment Debt means, as of December 20, 1997, the aggregate amount outstanding on all equipment notes and equipment leases, if any, and all accrued interest on such items.
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Equipment Debt has the meaning provided in Section 11.1 (b)(5). "Equivalent Availability Factor or EAF". Replace the first sentence of the last paragraph with the following: "For purposes of computing the Equivalent Availability Factor, the Equivalent Force Majeure Hours and the Equivalent Major Overhaul Hours will both be excluded from the Available Hours and the Period I-lours in the calculation."
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Related to Equipment Debt

  • Replacement Debt means any Refinancing Indebtedness (whether borrowed in the form of secured or unsecured loans, issued in a public offering, Rule 144A under the Securities Act or other private placement or bridge financing in lieu of the foregoing or otherwise) incurred in respect of Indebtedness permitted under Section 6.01(a) (and any subsequent refinancing of such Replacement Debt).

  • Current Debt of any Person shall mean as of the date of any determination thereof (i) all Indebtedness of such Person for borrowed money other than Funded Debt of such Person and (ii) Guaranties by such Person of Current Debt of others.

  • Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.

  • Committed Equipment Line is a Credit Extension of up to Five Million Dollars ($5,000,000).

  • Equipment Line means a Credit Extension of up to Five Million Dollars ($5,000,000).

  • 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 Room means a space intended for the operation of pool pumps, filters, heaters and controllers.

  • Related Equipment Note means, as of any date, an “Equipment Note” as defined in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture.

  • Designated Equipment means any equipment designated in the SLA, upon which the Licensed System may be used; Documentation means operating manuals and other printed materials which assist the Customer to use the Licensed System including any technical and user software material as published by Pentana Solutions; Escalation Request is as set out in the SLA;

  • Equipment is all “equipment” as defined in the Code with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing.

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

  • Purchased Equipment means any equipment, including any Software, sold by BT to the Customer.

  • Capital Equipment means machinery and equipment purchased or leased, and used in this state by the purchaser or lessee primarily for manufacturing, fabricating, mining, or refining tangible personal property to be sold ultimately at retail if the machinery and equipment are essential to the integrated production process of manufacturing, fabricating, mining, or refining. Capital equipment also includes machinery and equipment used primarily to electronically transmit results retrieved by a customer of an online computerized data retrieval system.

  • Supplier Equipment means the Supplier's hardware, computer and telecoms devices, equipment, plant, materials and such other items supplied and used by the Supplier (but not hired, leased or loaned from the Customer) in the performance of its obligations under this Call Off Contract;

  • Project Equipment means the items of machinery, equipment or other personal property used in connection with the construction and development of the Project pursuant to the provisions hereof, and all replacements thereof and substitutions therefor made pursuant to this Agreement.

  • Leased Equipment means the computers, servers, machinery and equipment and other tangible personal property leased by Seller for use in the operation or conduct of the Business.

  • Equipment Note means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture.

  • Equipment Leases has the meaning set forth in Section 2.1.9.

  • Farm equipment means equipment used directly for farming

  • Excluded Equipment means (i) defibrillators, enhanced emergency medical kits and other medical equipment, (ii) airphones and other components or systems installed on or affixed to the Airframe that are used to provide individual telecommunications or electronic entertainment to passengers aboard the Aircraft, (iii) galley carts, beverage carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley inserts, and other branded passenger convenience or service items, (iv) any items, equipment or systems leased by Company or any Permitted Lessee (other than items, equipment, or systems that are leased from Company pursuant to the applicable Lease) or owned by Company or any Permitted Lessee subject to a conditional sales agreement or a security interest (other than the security interest granted under the Indenture), and (v) cargo containers.

  • Equipment Notes means, at any time, the Series A Equipment Notes, the Series B Equipment Notes and the Series C Equipment Notes, collectively, and in each case, any Equipment Notes issued in exchange therefor or replacement thereof pursuant to the terms of the Indentures.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Performing Equipment Note “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

  • New equipment means equipment for which, by the cut-off date, neither of the following events has occurred:

  • Delinquent debt means (1) any debt owed to FCIC that has not been paid by the termination date specified in the applicable contract of insurance, or other due date for payment contained in any other agreement, or notification of indebtedness, and (2) any overdue amount owed to FCIC by a debtor which is the subject of an installment payment agreement which the debtor has failed to satisfy under the terms of such agreement.

  • Covered Equipment means, unless otherwise specified in a Schedule, Covered Property: