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

• The Equipment Loan Commitment shall terminate at the close of business on the Effective Date.

• Hence, the task to understand and model the varying predilection and behavior of each entity is complex.Nevertheless, when individuals are integrated as a crowd, they unconsciously alter their behavior in line with the responses of neighboring entities.

• Borrower shall pay to Agent for the ratable benefit of Lenders at the end of each month, in arrears, and on the last day of the Term an Unused Line Fee equal to one quarter of one percent (0.25%) per annum on the daily average amount by which the Revolving Loan Commitment and Equipment Loan Commitment exceeds the sum of (i) the outstanding principal balance of the Revolving Loans, (ii) the outstanding principal balance of the Equipment Loans and (iii) the outstanding Letter of Credit Obligations.

• Subject to the satisfaction of the terms and conditions of this Agreement, Bank shall make advances (each an “Equipment Loan Advance”) available to Borrower in an amount not to exceed the Equipment Loan Amount on the Effective Date through and including the Equipment Loan Commitment Termination Date.

• If the aggregate principal amount of the Equipment Loans outstanding under the Equipment Loan Notes should at any time exceed the Equipment Loan Commitment, Borrower shall immediately repay a sufficient amount of the Equipment Loans as shall be required to eliminate the excess.

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 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 is hereby added to Section 1.1 of the Credit Agreement as follows:

Equipment Loan Commitment means $1,000,000.”

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 is defined in Section 1.3 hereof.

Equipment Loan Commitment means, as the context may require, the VLL5 Equipment Loan Commitment or the VLL6 Equipment Loan Commitment. Each Lender’s Equipment Loan Commitment is several and not joint with the Equipment Loan Commitment of the other Lender.