Equipment Loan Commitment definition

Equipment Loan Commitment means, as to any Lender, the obligation of such Lender (if applicable), which obligation is subject to all the terms and conditions of this Agreement and the Other Documents, to make Equipment Loans in an aggregate principal amount not to exceed the Equipment Loan Commitment Amount (if any) of such Lender.

Equipment Loan Commitment means, with respect to each Lender, its Equipment Loan Commitment, and, with respect to all Lenders, their Equipment Loan Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 or in the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

Equipment Loan Commitment means the Bank’s Commitment to make Advances in the aggregate amount of $36,000,000.

Examples of Equipment Loan Commitment in a sentence

• Each Lender agrees to make a loan to Borrower (each such loan, an “Equipment Loan”) on the Closing Date in such Lender’s applicable Pro Rata Share of the Maximum Equipment Loan Commitment.

• Each payment (including each prepayment) by any Borrower on account of the principal of and interest on the Equipment Loans shall be applied to the applicable Equipment Loan pro rata according to the Equipment Loan Commitment Percentages of Lenders in the inverse order of maturities thereof.

• Such Equipment Unused Facility Fee shall be payable from amounts then on deposit in the Loan Collection Account, in accordance with the priority of payments set forth in Section 8.2, and shall be allocated among the Equipment Loan Noteholders pro rata in accordance with their respective shares of the Equipment Loan Commitment on such date of determination.

• The amount of the Follow-on Equipment Loan Commitment shall not exceed the lesser of (i) Six Million Dollars ($6,000,000) or (ii) thirty percent (30%) of the aggregate net cash proceeds Borrower actually receives from the issuance and sale of shares of Borrower’s Series B convertible preferred stock in one or more closings of equity financings (excluding conversion of bridge loans).

• Such interest shall be payable monthly on the first day of each calendar month, commencing on the first day of the second calendar month following the disbursement of the loan or loans and continuing on the first day of each calendar month thereafter until the expiration of the North Canton Equipment Loan Commitment Period.

More Definitions of Equipment Loan Commitment

Equipment Loan Commitment means the commitment of the Lender to make Equipment Loans of up to $5,000,000.00.

Equipment Loan Commitment means the sum of $1,000,000. "EQUIPMENT LOANS" shall have the meaning set forth in

Equipment Loan Commitment means the sum of $1,000,000.

Equipment Loan Commitment means $300,000.”

Equipment Loan Commitment means at any given time an amount equal to the lesser of Two Million Five Hundred Thousand Dollars ($2,500,000.00) or the aggregate principal amount outstanding on the Equipment Loan Notes plus 80% of the aggregate principal amount outstanding under any loan for equipment being financed under the Equipment Line of Credit by means of Bank Indebtedness and plus 100% of the total unpaid rent due under any equipment financed by a leasing arrangement with Bank or an Affiliate of Bank.

Equipment Loan Commitment means Lender's commitment to make a series of Loans prior to Conversion to fund the purchase of Eligible Equipment in an aggregate amount not to exceed $1,500,000.

Equipment Loan Commitment means $150,000.