Initial Equipment Advance definition

Initial Equipment Advance is defined in Section 2.1.1(a).
Sample 1Sample 2Sample 3
Initial Equipment Advance means the first Equipment Advance.
Sample 1Sample 2
Initial Equipment Advance is the first Equipment Advance under the Committed Equipment Line.
Sample 1

Examples of Initial Equipment Advance in a sentence

  • Notwithstanding the foregoing, the initial Equipment Advance (the “Initial Equipment Advance”) hereunder may be used to reimburse Borrower for Eligible Equipment purchased on or after January 1, 2007; provided that, the Initial Equipment Advance is requested within thirty (30) days after the Effective Date.

  • Each Equipment Advance (other than the Initial Equipment Advance) shall immediately amortize and be payable in 0) thirty-six (36) consecutive equal monthly installments of principal plus (ii) monthly payments of accrued interest, beginning on the first (1st) day of the first (1st) month following the month in which the Funding Date occurs with respect to such Equipment Advance and continuing on the same day of each month thereafter.

  • The Initial Equipment Advance shall immediately amortize and be payable in (i) forty-eight (48) consecutive equal monthly installments of principal plus (ii) monthly payments of accrued interest, beginning on the first (1st) day of the first (1st) month following the month in which the Funding Date occurs with respect to the Initial Equipment Advance and continuing on the same day of each month thereafter.

  • Equipment Advances may only be used to finance Eligible Equipment purchased within ninety (90) days (determined based upon the applicable invoice date of such Eligible Equipment) before the date of each Equipment Advance save that the Initial Equipment Advance may be used to finance Eligible Equipment purchased at any time after 1 January 2011.

  • Borrower may only request a total of six (6) 2007 Equipment Advances (including the Initial Equipment Advance) hereunder.

  • Notwithstanding the foregoing, the initial Equipment Advance hereunder (which may be at an amount less than $50,000.00) may be used to reimburse Borrower for Eligible Equipment purchased on or after January 1, 2002 (the "Initial Equipment Advance") provided that the Initial Equipment Advance is requested on or before thirty (30) days from the Closing Date.

  • The Final Payment and all unpaid principal and interest on the Initial Equipment Advance shall be due on the applicable Equipment Maturity Date.

  • Each Initial Equipment Advance shall not exceed 100% of the invoice amount of equipment and software approved by Bank from time to time (which Borrower shall, in any case, have purchased within 360 days of the date of the corresponding Initial Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense.

  • Notwithstanding the foregoing, the initial Equipment Advance (the “Initial Equipment Advance”) hereunder may be used to reimburse Borrower for Eligible Equipment purchased within one hundred eighty (180) days (determined based upon the applicable invoice date of such Eligible Equipment) before the Effective Date, provided such Initial Equipment Advance is made within ten (10) Business Days of the Effective Date.

  • Such payments shall be payable for 30 months beginning one month following the date of the Initial Equipment Advance and all subsequent payments of principal will be due on the same day of each month thereafter through the Equipment Maturity Date.


More Definitions of Initial Equipment Advance

Initial Equipment Advance is defined in Section 2.1.6.
Sample 1
Initial Equipment Advance is defined in Section 2.1.2. "INITIAL EQUIPMENT ADVANCE REPAYMENT PERIOD" is twenty four (24) months.
Sample 1
Initial Equipment Advance has the meaning specified in Section 6.5 of the Participation Agreement.
Sample 1

Related to Initial Equipment Advance

  • Equipment Advance is defined in Section 2.1.1.

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

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

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

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Initial Term Loan Repayment Date shall have the meaning provided in Section 2.5(b).

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • 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.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

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

  • Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • 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.

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

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