Equipment Sublimit definition

Equipment Sublimit means the amount(s) set forth in Section 2(b) of Schedule A.
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Equipment Sublimit means the amount set forth on Schedule 1.40 with respect to the period set forth opposite such amount.
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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.
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Examples of Equipment Sublimit in a sentence

  • Subject to Section 2.2(b)(i)(A) and Section 3.2(a)(ii), to the extent LIBOR Rate Revolving Loans are available under the terms of this Agreement, the Borrowers shall request that the Revolving Loans outstanding under the Equipment Sublimit shall be funded as or continued as LIBOR Rate Revolving Loans with a single Interest Period of one month.

  • 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.

  • In addition, upon payment in full of the Debt evidenced by such lease, Borrowers and Bank agree to cause such Specific Equipment to be appraised and so long as such appraisal is satisfactory in all respects to Bank and no Event of Default exists, Borrowers and Bank agree to add up to eighty percent (80%) of the net orderly liquidation value of such Specific Equipment to the Equipment Sublimit.

  • All Equipment Advances issued under the Temporary Equipment Sublimit will be considered an Advance under the Committed Revolving Line until such time as Borrower has met the criteria as described in subsection (d) (ii) of Section 2.1.


More Definitions of Equipment Sublimit

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).
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Equipment Sublimit set forth in Section 1 of the Loan Agreement is amended and restated in its entirety, as follows:
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Equipment Sublimit means (a) $7,626,200, which amount shall be reduced, on the first day of each Fiscal Quarter, beginning on
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Equipment Sublimit means, as to each Borrower, at any time, the amount equal to the Equipment Cap minus the then outstanding principal amount of Loans to the other Borrower based on Eligible Equipment.
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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:
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Equipment Sublimit means, as to each Borrower, its Equipment Cap.
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Equipment Sublimit means (a) $17,500,000, which amount shall be reduced, on the first day of each Fiscal Quarter,
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