Equipment Sublimit definition

Equipment Sublimit means the amount set forth on Schedule 1.49 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 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.

• It is further agreed that the Equipment Sublimit and the Real Estate Sublimit are reducing components of the Borrowing Base as provided by SECTION 4.3, and that the Borrowers are not entitled to any subsequent additional advances thereunder.

• 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.

• If Borrower's Obligations under Section 2.1.1 exceed the lesser of either (i) the Committed Revolving Line or (ii) the Borrowing Base, minus in each case, the outstandings under the Temporary Equipment Sublimit, Borrower must immediately pay Bank the excess.

• 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 2.1.2. At such time as Borrower has met such criteria the Temporary Equipment Sublimit shall be deleted and all outstanding Equipment Advances thereunder will be considered Equipment Advances under the Committed Equipment Line.

More Definitions of Equipment Sublimit

Equipment Sublimit set forth in Section 1 of the Loan Agreement is amended and restated in its entirety, 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, as of any date of determination, the Pre-Petition M&E Loan Balance, PLUS the Post-Petition M&E Loan Balance (which together total $31,000,000 as of the Closing Date), MINUS the Equipment Sublimit Reduction.

Equipment Sublimit shall have the meaning set forth in the definition of Fixed Asset Amount.

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

Equipment Sublimit means, as of any date of determination, the lesser of (a) $30,000,000 minus the Equipment Sublimit Reduction or (b) in the Agent's reasonable discretion, fifty percent (50.0%) of the most recent Orderly Liquidation Value appraisal of the Borrower's Equipment received by the Agent pursuant to Section 6.5, minus the portion of the Equipment Sublimit Reduction for the period from the date of such appraisal through the date of determination.

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