Second Equipment Advance definition

Second Equipment Advance is defined in Section 2.1.2.A.
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Second Equipment Advance has the meaning set forth in Section 2.1.5.
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Second Equipment Advance means an advance under the Second Committed Equipment Line.
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Examples of Second Equipment Advance in a sentence

  • 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.

  • 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.

  • When the two entities occur in the same paragraph, i.e. the same linguistic unit, their relation is tighter, which means that their Unity factor is higher.

  • Once repaid, the Second Equipment Advance Loan may not be reborrowed.

  • Except as otherwise set forth in Sections 3.7 and 3.8, there shall be no prepayment fee or charge to prepay any Second Equipment Advance on which interest accrues at the floating Prime Rate or the LIBOR Rate plus the LIBOR Rate Margin.

  • On and after the expiration of any Interest Period applicable to any LIBOR Second Equipment Advance outstanding on the date of occurrence of an Event of Default or acceleration of the Obligations, the Effective Amount of such LIBOR Second Equipment Advance shall, during the continuance of such Event of Default or after acceleration, bear interest at a rate per annum equal to the Prime Rate plus three percent (3.00%).

  • An identification of the source and operating variables that shall be monitored to detect a malfunction or failure, the normal operating range of these variables, and a description of the method of monitoring or surveillance procedures.

  • The interest rate applicable to each LIBOR Advance and LIBOR Second Equipment Advance shall be determined in accordance with Section 3.4(a) and 3.5(a) hereunder, respectively.

  • Each Second Equipment Advance must be for a minimum of $50,000 and only one Second Equipment Advance per month shall be available.

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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.

  • 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).

  • 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).

  • 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:

  • 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 is an Equipment Advance or Equipment Advances in an aggregate amount of up to One Million Dollars ($1,000,000).

  • 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", "Ratings Confirmation", "Regular Distribution Date", "Replacement Liquidity Facility", "Responsible Officer", "Scheduled Payment", "Special Payment", "S&P", "Stated Interest Rate", "Subordination Agent", "Taxes", "Threshold Rating", "Trust Agreement", "Trustee", "Underwriters", "Underwriting Agreement", "United States" and "Written Notice".

  • 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.

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

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

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

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