Second Equipment Advance definition

Second Equipment Advance is defined in Section 2.1.4.
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Second Equipment Advance means an advance under the Second Committed Equipment Line.
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Second Equipment Advance has the meaning set forth in Section 2.1.5.
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Examples of Second Equipment Advance in a sentence

  • The Second Equipment Advances may only be used to finance or refinance Equipment purchased prior to January 15, 2006 and on or after 90 days before the date of such Second Equipment Advance and may not exceed 100% of the equipment invoice excluding taxes, shipping, warranty charges, freight discounts and installation expense.

  • Each Second 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 120 days of the date of the corresponding Second Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense.

  • Second Equipment Advances are payable in 36 equal monthly installments of principal, plus accrued interest, beginning on the first day of the month following the date such Second Equipment Advance is made and on the first day of each month thereafter until paid.

  • After the Second Equipment Advance has been repaid, it may not be reborrowed.

  • No Second Equipment Advances shall be deemed made to Borrower, and no interest shall accrue on any such Second Equipment Advance, until the related funds have been deposited in the Designated Deposit Account.

  • All invoices for Eligible Equipment purchased before 90 days after the date of the Second Equipment Advance must be funded with the initial Second Equipment Advance.

  • Commencing on the first Payment Date following the Effective Date, and continuing on each Payment Date thereafter, Borrower shall repay the Second Equipment Advance Loan in (i) twenty-eight (28) consecutive equal installments of principal, plus (ii) monthly payments of accrued interest at the effective rate of interest as set forth in Section 2.3(a)(iv) (each a “Second Equipment Advance Loan Payment”).

  • Borrower shall elect the floating or fixed rate options on or before the date of each Second Equipment Advance, and if Borrower fails to make an election with respect to any Second Equipment Advance, including without limitation, any election after termination of any Interest Period, then the interest rate for the outstanding principal of such Second Equipment Advance shall be the floating Prime Rate.

  • Unless otherwise agreed to by Bank, not more than 75% of any Second Equipment Advance may be used to finance Eligible Equipment comprised of software licenses, mask sets, foreign domiciled equipment, leasehold improvements, sales tax, shipping, warranty charges, freight, and installation expenses (“Soft Costs”).

  • The Second Equipment Advances may only be used to finance or refinance Equipment purchased on or after 90 days before the date of each Second Equipment Advance, except that the initial Second Equipment Advance, which must be requested by Borrower and advanced by Bank on or before thirty days after the Effective Date, may be used to finance or refinance Equipment purchased on or after January 1, 2005.

Related to Second Equipment Advance

  • Equipment Advance is defined in Section 2.1.1.

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

  • 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.

  • 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).

  • 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.

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

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

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

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

  • Incremental Auction Revenue Rights means the additional Auction Revenue Rights, not previously feasible, created by the addition of Incremental Rights-Eligible Required Transmission Enhancements, Merchant Transmission Facilities, or of one or more Customer- Funded Upgrades.

  • 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.

  • 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:

  • The Advance Work Order or “Letter of Intent” means the intention of Purchaser to place the Work Order on the bidder.

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

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

  • 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.

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

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

  • 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.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • 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”.

  • Payment/Advance Form is that certain form attached hereto as Exhibit B.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • 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.

  • Initial Advance means the first Advance made pursuant to Article II.