Examples of Equipment Line Maturity Date in a sentence
Subject to Section 5.2 and the other terms and conditions hereinafter set forth, the Lender has established the Equipment Line Facility, available in the discretion of the Lender to the Borrower from time to time during the period from the Closing Date up to but not including the Equipment Line Maturity Date, in an aggregate principal amount of $1,500,000, less the amount of Equipment Line Loans made under the Prior Agreement (the “Equipment Line Commitment”).
On the first day of each month following the date that such Equipment Line Advance is made by the Lender and until the month in which the Equipment Line Maturity Date occurs, the Borrower shall Exhibit 10.1 make interest-only payments to the Lender equal to all accrued interest on each Equipment Line Advance (calculated by applying the interest rate specified in the corresponding Equipment Line Advance Request).
Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period will not apply to payments due on the Equipment Line Maturity Date).
All Equipment Line ------------------------------------- of Credit Loans shall be repayable in installments in accordance with the terms of the Equipment Line Note, provided that all Equipment Line of Credit Loans shall mature and the total principal amount thereunder shall be payable on August 1, 1999 (the "Equipment Line Maturity Date"), at which time all amounts ---------------------------- advanced under this Section 2 shall be immediately due and payable.
Each Lender agrees severally, for so long as no Default or Event of Default exists, and at any time prior to the Equipment Line Maturity Date, to make Equipment Loans to Borrowers in an amount equal to such Lender’s Pro Rata Percentage of the requested Equipment Loan from time to time from and after the Closing Date through the Equipment Line Maturity Date, to finance Borrowers’ purchases of Qualified Assets for use in their businesses.