Equipment Sublimit definition

Equipment Sublimit means the amount set forth on Schedule 1.46 with respect to the period set forth opposite such amount.

Equipment Sublimit means (a) $17,500,000, which amount shall be reduced, on the first day of each Fiscal Quarter, beginning on July 1, 2021, by an amount equal to the Fixed Asset Amortization, minus (b) the value of Equipment disposed of by Borrowers following the Closing Date, but only to the extent such value exceeds, when aggregated with the value of all other Equipment disposed of by Borrowers following the Closing Date, $2,500,000.

Equipment Sublimit means a limit established by Administrative Agent in its sole discretion, exercised in a commercially reasonable manner, for the amount to be included in the Borrowing Base for machinery and equipment, which is reasonably expected to be limited to Two Million Dollars ($2,000,000).

Examples of Equipment Sublimit in a sentence

• The Borrowers will pay timely to the Lenders all amounts necessary to cause the Equipment Sublimit Reductions to be satisfied so that the Equipment Sublimit is never exceeded.

• Subject to the other provisions of this Agreement, as long as the Equipment Sublimit is greater than zero, the outstanding Revolving Loans shall be deemed to be funded first under the Equipment Sublimit, to the extent of the Equipment Sublimit.

• There is no fact known to any Obligor that could reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the other documents, certificates and other writings delivered to the Holders by or on behalf of such Obligor specifically for use in connection with the transactions contemplated hereby.

• LIBOR Rate Loans outstanding other than under the Equipment Sublimit shall not be permitted to be funded or continued as a portion of the Interest Period for the LIBOR Rate Revolving Loans outstanding under the Equipment Sublimit.

• The Equipment Sublimit (determined as of the date hereof and as adjusted pursuant to the last sentence hereof) shall be reduced on the first Business Day of each month, commencing on the first Business Day of December, 2003, by an amount sufficient (assuming a like repayment each month) to reduce such Equipment Sublimit to zero ($0) by the first Business Day of November, 2009.

More Definitions of Equipment Sublimit

Equipment Sublimit means the amount(s) set forth in Section 2(b) of Schedule A.

Equipment Sublimit set forth in Section 1 of the Loan Agreement is amended and restated in its entirety, as follows:

Equipment Sublimit means $27,937,500 provided, however, that beginning on the first day of the first calendar quarter following the Eighth Amendment Effective Date and on the first day of each calendar quarter thereafter, the Equipment Sublimit shall be reduced by $698,438.” Section 1. 55 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

Equipment Sublimit means (a) $17,500,000, which amount shall be reduced, on the first day of each Fiscal Quarter,

Equipment Sublimit means (a) $7,626,200, which amount shall be reduced, on the first day of each Fiscal Quarter, beginning on

Equipment Sublimit means (i) until the later to occur of (1) July 31, 2010, and (2) such time as Agent completes its due diligence with respect the Equipment, the results of which are satisfactory to Agent, $16,033,850.00, and (ii) at all times thereafter, the amount set forth on Schedule 1.49 with respect to the period set forth opposite such amount.” Agent will endeavor in good faith to complete its due diligence with respect to the Equipment by July 31, 2010. f. Schedule 1.49 to the Loan Agreement is hereby amended and restated to read in its entirety to read as attached to this Amendment. g. The definition of “Maximum Credit” set forth in Section 1.94 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

Equipment Sublimit means Two Million Dollars ($2,000,000.00).