Equipment Loan Limit definition

Equipment Loan Limit means One Million Five Hundred Thousand ($1,500,000) Dollars; provided, that, commencing April 1, 2004 and on the first (1st) day of each successive July, October, January and April thereafter, the Equipment Loan Limit shall be reduced by One Hundred Twenty-Five Thousand ($125,000) Dollars.
Sample 1
Equipment Loan Limit means $1,000,000.
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Equipment Loan Limit means $5,000,000 as reduced by the amount of payments of principal required to be made after the date hereof in respect of Term Loans.
Sample 1

Examples of Equipment Loan Limit in a sentence

  • Borrowers further confirm that (x) Equipment Loans made after the date hereof shall not exceed the Reduced Equipment Loan Limit and (y) Lender shall have no obligation to make any Equipment Loan at any time if an Event of Default is then outstanding.

  • Except in Lender’s discretion, the outstanding aggregate principal amount of the Term Loans shall not exceed, at any time, the lower of (i) the aggregate amount of (A) eighty (80%) percent of the Hard Costs of all Eligible New Equipment purchased by Borrowers pursuant hereto plus (B) eighty (80%) percent of the Net Orderly Liquidation Value of Eligible Existing Equipment or (ii) the Equipment Loan Limit.

  • Utilities and Equipment Rental/Maintenance budget line items will be reallocated to Building/Grounds Maintenance, Resident Food, Facility Supplies and Program Supplies.

  • If at any time the outstanding aggregate principal amount of all Equipment Loans shall exceed the Equipment Loan Limit, as reduced by the amount of all principal payments in respect - 53 - 6597425.v16 0000-0000-0000 v2 of Equipment Loans, then in any such case, Lender may require that Borrowers promptly repay to Lender the entire amount of such excess(es).


More Definitions of Equipment Loan Limit

Equipment Loan Limit means an amount determined by Agent on the Fixed Asset Funding Date, not to exceed $7,839,000, which amount shall be reduced from time to time pursuant to Section 2.1(d) hereof.
Sample 1
Equipment Loan Limit the Loans in the maximum principal amount of $5,000,000 by Lxxxxx to Borrowers under Section 2.3 of this Agreement.
Sample 1

Related to Equipment Loan Limit

  • 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.

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • 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).

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Replacement Loans has the meaning specified in Section 10.01.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Total loan amount means the principal of the loan minus those

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Equipment Advance is defined in Section 2.1.1.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • 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.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.