Existing Equipment Advances definition

Existing Equipment Advances is defined in Section 2.1.6(a).
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Existing Equipment Advances means certain Credit Extensions made by Bank to Borrower pursuant the Original Agreement which are currently amortizing.
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Existing Equipment Advances shall have the meaning ascribed to such term as is set forth in the Recitals hereto.
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Examples of Existing Equipment Advances in a sentence

  • Subject to Section 2.3(b), the outstanding principal amount of the Existing Equipment Advances shall accrue interest at a fixed per annum rate equal to seven percent (7.00%), which shall be payable monthly in accordance with Section 2.3(f) below.

  • If the aggregate amount of the outstanding Advances plus the aggregate face amount of all outstanding Letters of Credit, Term Loan Advances, Term Loan 2 Advances, and Existing Equipment Advances exceeds the lesser of (i) the Borrowing Base plus $500,000, or (ii) the Revolving Line at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

  • The Existing Equipment Advances shall continue to amortize and be repaid in accordance with the terms of the Original Agreement.

  • On the Term Loan 2 Availability End Date, if the sum of the aggregate amount of outstanding Term Loan Advances, the Term Loan 2 Advances, and Existing Equipment Advances exceeds $3,050,000, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

  • Further, Borrower acknowledges that the present unpaid principal balance of the Borrower’s indebtedness, liabilities and obligations relating to revolving advances under the Existing Loan Documents is $10,000,000 (the “Present Revolving Principal Loan Balance” and together with the Existing Equipment Advances referred to collectively as the “Total Principal Loan Balance”), and that said sum is due and owing without any defense, offset, or counterclaim of any kind.

  • As a result of this merger, the Company and Bertelsmann each retained an approximate 36 percent interest in Barnes & Noble.com.

  • Notwithstanding the foregoing or any other term or provision hereof, no new EX–IM Advances may be made if the aggregate amount of credit extensions under the Domestic Loan Agreement (other than for the Term Loan Advances and the Existing Equipment Advances, as each of such terms in defined in the Domestic Loan Agreement) plus the EX-IM Advances plus any proposed EX-IM Advance exceeds the Maximum Dollar Amount (as defined in the Domestic Loan Agreement).

  • A ratio of Quick Assets to Current Liabilities, less deferred revenue plus the long-term portion of all outstanding Existing Equipment Advances and Equipment Advances, of at least 1.50 to 1.00.

  • On the date the conditions in Section 3.1 are satisfied, the interest rate on the Existing Equipment Advances will be reduced to 6%.

  • Open space in a PD means the land area to be used for scenic or open recreational purposes within the development.


More Definitions of Existing Equipment Advances

Existing Equipment Advances. As set forth in Section 1.1 above regarding the Existing Equipment Advances.
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Existing Equipment Advances. The applicable interest rates as set forth in Section 1.1 above regarding the Existing Equipment Advances.
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Related to Existing Equipment Advances

  • Equipment Advance is defined in Section 2.1.1.

  • Existing Equipment means any items of existing plant or equipment owned or controlled by either Pur- chaser or End-User upon which Supplier is required to perform Services.

  • Performing Equipment Note “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

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

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Committed Equipment Line is a Credit Extension of up to Five Million Dollars ($5,000,000).

  • Non-Performing Equipment Note means an Equipment Note issued pursuant to an Indenture that is not a Performing Equipment Note.

  • Refinancing Equipment Notes and “Refinancing Trust” shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Permitted Intercompany Advances means loans made by (a) a Loan Party to another Loan Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • 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.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Equipment Line means a Credit Extension of up to Five Million Dollars ($5,000,000).

  • Related Equipment Note means, as of any date, an “Equipment Note” as defined in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture.

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • Outstanding Interest Advances means, as of the last day of a Collection Period with respect to a Receivable, the portion of Outstanding Advances allocable to interest.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

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

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Existing Loans has the meaning specified in Section 2.19(a).

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).