Purpose of Loans definition

Purpose of Loans. As more fully set forth in Section 2.2, the proceeds of the Subordinated Loan and the Senior Loan shall be used only for restructuring the Indebtedness owed to JEDI II under the terms of the Original Loan Agreement and for the reasonable fees, expenses, and financing costs incurred by the Borrower in connection with the foregoing. The proceeds of the Subordinated Loan shall not be used for any purpose which violates applicable Requirements of Law, including laws regulating investments in foreign jurisdictions.
Sample 1
Purpose of Loans. For the acquisition of one (1) new 100LC Analog Teradyne mixed signal tester with bolt-on handlers, two multitest quad site handlers, one ATM lead conditioner, two tape and reel inspection systems, CAD software and leasehold improvements. Lender will finance soft costs in amounts not in excess of twenty (20%) percent of the aggregate principal amount of the Loans outstanding at any time. Such soft costs to include, but not be limited to leasehold improvements (up to maximum of $125,000), delivery, installation, sales tax and software. All items financed with the proceeds of the Loan are subject to final review and acceptance by the Lender.
Sample 1
Purpose of Loans. For the acquisition of Equipment on Schedule A and new laboratory, office, production, research and development and additional equipment. Lender at its sole option may finance used equipment and/or equipment older than 90 days from the date of supplier's invoice. Lender will finance soft costs in amounts not in excess of twenty-five percent (25%) of each Loan, but shall not exceed a maximum of $500,000 in total. Notwithstanding the foregoing, the soft costs on the first Loan may be a maximum of 55% of that Loan, but in no case exceed the maximum. Such soft costs to include leasehold improvements, delivery, installation, sales tax and software. All items financed with the proceeds of the Loan are subject to final review and acceptance by the Lender.
Sample 1

Examples of Purpose of Loans in a sentence

  • Section 6.8 Purpose of Loans Section 6.9 Maintenance of Status Article 7.

  • Liens 45 6.9 Intellectual Property 45 6.10 [Reserved] 45 6.11 Taxes 45 6.12 Federal Regulations 46 6.13 ERISA 46 6.14 Investment Company Act; Other Regulations 47 6.15 Subsidiaries 47 6.16 Accuracy and Completeness of Information 47 6.17 Purpose of Loans; Commitments 47 6.18 Environmental Matters 48 SECTION 7.

  • Section 6.1 Financial Statements and Other Information 4042 Section 6.2 Notice of Material Events 4144 Section 6.3 Legal Existence 4144 Section 6.4 Insurance 4144 Section 6.5 Payment of Indebtedness and Performance of Obligations 4244 Section 6.6 Observance of Legal Requirements 425 Section 6.7 Books and Records; Visitation 425 Section 6.8 Purpose of Loans 425 Section 6.9 Maintenance of Status 435 Section 6.10 Post-closing Obligations 435 ARTICLE 7.

  • Purpose of Loans.................................................................................

  • Purpose of Loans and Letters of Credit 48 i Table of Contents (continued) Page SECTION 3.12.

  • AFFIRMATIVE COVENANTS 45 Section 6.1 Financial Statements and Other Information 46 Section 6.2 Notice of Material Events 47 Section 6.3 Legal Existence 47 Section 6.4 Insurance 47 Section 6.5 Payment of Indebtedness and Performance of Obligations 47 Section 6.6 Observance of Legal Requirements 48 Section 6.7 Books and Records; Visitation 48 Section 6.8 Purpose of Loans 48 Section 6.9 Maintenance of Status 48 ARTICLE 7.

  • RATE NOTE AMOUNT DATE DATE ------------- -------- ------------ -------- ---- Line of Credit MNB Prime $5,000,000.00 9/22/97 9/21/96 or 225 b.p. (2.25%) in excess of 1-month LIBOR Purpose of Loans listed above: Working capital, Letters of Credit, real estate investments and bridge facility to Line of Credit Facility.

  • Section 6.1 Financial Statements and Other Information 34 Section 6.2 Notice of Material Events 36 Section 6.3 Legal Existence 36 Section 6.4 Insurance 36 Section 6.5 Payment of Indebtedness and Performance of Obligations 37 Section 6.6 Observance of Legal Requirements 37 Section 6.7 Books and Records; Visitation 37 Section 6.8 Purpose of Loans 37 Section 6.9 Maintenance of Status 38 ARTICLE 7.

  • Purpose of Loans: For the acquisition of new production equipment, environmental chambers, office furniture, tenant improvements and software.

  • Business Purpose of Loans..................................................................


More Definitions of Purpose of Loans

Purpose of Loans. As more fully set forth in Section 2.2, the proceeds of the Subordinated Loan and the loans under the CITBC Financing Agreement shall be used only for restructuring the Indebtedness owed to the Subordinated Lenders under the terms of the Original Loan Agreement, for the reasonable fees, expenses, and financing costs incurred by the Borrower in connection with the foregoing and for the general corporate purposes of the Borrower and its Subsidiaries. The proceeds of the Subordinated Loan shall not be used for any purpose which violates applicable Requirements of Law, including laws regulating investments in foreign jurisdictions.
Sample 1

Related to Purpose of Loans

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans and (iii) the Letter of Credit Usage.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Existing Revolving Loans has the meaning specified in Section 2.7(a).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Existing Revolving Credit Class shall have the meaning provided in Section 2.14(g)(ii).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Term B Loans means (a) the term loans made by the Lenders to the Borrower pursuant to Section 2.01(a), and (b) any Incremental Term Loans in the form of Term B Loans made by the Incremental Term Lenders to the Borrower pursuant to Section 2.01(c).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

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

  • Type of Loan means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a Base Rate Loan.

  • Refinancing Revolving Commitments means one or more Classes of commitments in respect of Revolving Loans hereunder that result from a Refinancing Amendment.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Existing Revolving Commitments has the meaning assigned to such term in Section 2.27(a).

  • Notice of Revolving Credit Advance has the meaning ascribed to it in Section 1.1(a).

  • Existing Revolving Credit Agreement means that certain Revolving Credit Agreement, dated as of August 29, 2018, among the Borrower, the other borrowers party thereto, the lenders and letter of credit issuers from time to time party thereto and Xxxxx Fargo Bank, National Association, as administrative agent (as amended, restated, supplemented or otherwise modified from time to time).

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.