Maximum Equipment Loan Amount definition

Maximum Equipment Loan Amount means $10,000,000 less repayments of the Equipment Loans.

Maximum Equipment Loan Amount means $3,000,000.

Maximum Equipment Loan Amount means $750,000.

Examples of Maximum Equipment Loan Amount in a sentence

• The Respondent is licensed with the Insurance Division of the Tennessee Department of Commerce and Insurance, as an insurance producer, and holds resident producer license number 321482.

• All such Equipment Loans shall be in such amounts as are requested by Borrowing Agent, in an amount up to, at Agent’s sole discretion, 90% of the net invoice cost (excluding taxes, shipping, delivery, handling, installation, overhead and other so called “soft” costs) of the Equipment then to be purchased by Borrowers and the total amount of all Equipment Loans advanced hereunder shall not exceed, in the aggregate, the Maximum Equipment Loan Amount.

• The aggregate outstanding Equipment Loan Advances may be up to the Maximum Equipment Loan Amount.

• All such Equipment Loans shall be in such amounts as are requested by Borrower, but in no event shall any Equipment Loan exceed ninety (90%) percent of the Net Invoice Cost of any new equipment being purchased by Borrower or eighty percent (80%) of the Net Invoice Cost of any used equipment being purchased by Borrower and the total amount of all Equipment Loans outstanding hereunder shall not exceed, in the aggregate, the Maximum Equipment Loan Amount.

• With respect to insurance and condemnation proceeds relating to any Borrower's Collateral consisting of Fixed Assets, an amount equal to such proceeds may be used by the Borrowers to replace, repair, restore or rebuild the relevant Fixed Assets within one hundred twenty (120) days of the deposit thereof into a Payment Account or on the one hundred and twentieth (120th) day following the date of receipt thereof the Maximum Equipment Loan Amount shall be permanently reduced by such amount.

More Definitions of Maximum Equipment Loan Amount

Maximum Equipment Loan Amount means $1,500,000.

Maximum Equipment Loan Amount means $2,500,000 less repayments of the Equipment Loans.

Maximum Equipment Loan Amount means Ten Million and No/100 Dollars ($10,000,000).

Maximum Equipment Loan Amount set forth in Section 1.2 are deleted in their entirety and all provisions relating to the Equipment Loan, including, without limitation, Section 2.4(b) are deleted in their entirety.

Maximum Equipment Loan Amount in Section 1.2 of the Credit Agreement is hereby amended to read in its entirety as follows:

Maximum Equipment Loan Amount has the meaning specified in clause (a) of the definition of Maximum Fixed Assets Loan Amount.

Maximum Equipment Loan Amount means (x) from the Closing Date to the Commitment Date, $2,000,000 and (y) on the Commitment Date and thereafter, $4,000,000.