Common use of The Credit Amount Clause in Contracts

The Credit Amount. Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees to lend to Borrower, from time to time prior to the Commitment Termination Date, the Loans of an amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original principal amount of all Loans relating to the financing of Other Equipment shall not at any time exceed thirty percent (30%) of the Credit Amount; provided further, the aggregate principal amount of all Loans that relate to the financing of Other Equipment outstanding on the Commitment Termination Date shall not exceed thirty percent (30%) of the aggregate principal amount of all Loans outstanding on such date. If for any reason on the Commitment Termination Date, the aggregate principal amount of Loans outstanding applicable to Other Equipment exceeds thirty percent (30%) of the aggregate principal amount of all Loans outstanding on such date (such dollar amount shall be the "Soft Cost Differential"), then the Borrower shall either (a) pay an amount equal to the Soft Cost Differential multiplied by the Stipulated Loan Value for the Payment Date next succeeding such date for the last Loan to include Other Equipment (the "Last Loan"), (b) deposit with Lender, as cash collateral to secure the Soft Cost Differential, an amount equal to the Soft Cost Differential, or (c) cause to be issued for the benefit of Lender a letter of credit in an amount equal to the Soft Cost Differential. If a cash deposit is made to Lender, then (i) Borrower hereby grants a security interest in such cash to Lender, (ii) Lender shall have the right to apply such funds to the Obligations upon the occurrence and during the continuance of an Event of Default, and (iii) the amount of the cash deposited with Lender may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan over the same time period. If such a letter of credit is issued, then (i) it shall be issued by an institution acceptable to Lender, (ii) its form and substance shall be acceptable to Lender, (iii) Lender shall have the right to draw on such letter of credit upon the occurrence and during the continuance of any Event of Default under this Agreement, and (iv) its face value may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan over the same time period. Notwithstanding the foregoing, One Million Two Hundred Fifty Thousand Dollars ($1,250,000) of the Credit Amount is available, subject to the terms hereunder, for Loans with a Funding Date on or before June 30, 2001, and if this portion of the Credit Amount remains unused by June 30, 2001, it will no longer be available; the remaining Seven Hundred Fifty Thousand Dollars ($750,000) of the Credit Amount shall be available for Loans with a Funding Date on or before December 31, 2001. Loans may not be prepaid except in accordance with Section 2.5.

The Credit Amount. Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees Lenders agree to lend to Borrower, severally and not jointly, from time to time prior to the Commitment Termination Date, the Loans according to each Lender’s pro rata share of the Credit Amount (based upon the respective Commitment of each Lender) in an amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original principal amount of all Loans advanced to Borrower relating to the financing of Other Equipment shall not at any time exceed thirty percent (30%) of the Credit Amount; provided further, the aggregate principal amount Amount and shall not as of all Loans that relate to the financing of Other Equipment outstanding on the Commitment Termination Date shall not exceed thirty percent (30%) of the aggregate original principal amount of all Loans outstanding on such dateadvanced to Borrower under this Agreement. If for any reason on the Commitment Termination Date, the aggregate principal amount of all Other Equipment Cost Loans outstanding applicable to Other Equipment on the Commitment Termination Date exceeds thirty percent (30%) of the aggregate principal amount of all Loans outstanding on such date (such dollar amount shall be the "Soft Cost “Other Equipment Differential"”), then the at Borrower’s election, Borrower shall immediately either (a) pay down the Loan (without penalty for such payment) in an amount equal to the Soft Cost Differential multiplied by the Stipulated Loan Value for the Payment Date next succeeding such date for the last Loan to include Other Equipment (the "Last Loan")Differential, (b) deposit with LenderLenders pro rata, as cash collateral to secure the Soft Cost Other Equipment Differential, an amount equal to the Soft Cost Differential, or Other Equipment Differential (c) cause to be issued for the benefit of Lender a letter of credit in an such deposit amount equal to the Soft Cost Differential. If a cash deposit is made to Lender, then (i) Borrower hereby grants a security interest in such cash to Lender, (ii) Lender shall have the right to apply such funds to the Obligations upon the occurrence and during the continuance of an Event of Default, and (iii) the amount of the cash deposited with Lender may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan Other Equipment Differential over the same time period), or (c) cause to be issued for the benefit of Lenders a letter of credit in an amount equal to the Other Equipment Differential. If such a letter of credit is issued, then (i) it shall be issued by an institution acceptable to LenderLenders, (ii) its form and substance shall be acceptable to LenderLenders, (iii) Lender the Lenders shall have the right to draw on such letter of credit upon the occurrence and during the continuance of any Event of Default under this Agreement, and (iv) its face value may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan Other Equipment Differential over the same time period. Notwithstanding the foregoing, One Million Two Hundred Fifty Thousand Dollars ($1,250,000) of the Credit Amount is available, subject to the terms hereunder, for Loans with a Funding Date on or before June 30, 2001, and if this portion of the Credit Amount remains unused by June 30, 2001, it will no longer be available; the remaining Seven Hundred Fifty Thousand Dollars ($750,000) of the Credit Amount shall be available for Loans with a Funding Date on or before December 31, 2001. Loans may not be prepaid except in accordance with Section 2.52.5 below.

The Credit Amount. Subject to the terms and conditions of this Agreement and relying upon the representations and warranties herein set forth as and when made or deemed to be made, Lender agrees to lend to Borrower, Borrower from time to time prior to the Commitment Termination Date, the Loans of in an amount equal to (i) one hundred percent (100%) of the Stated Cost of Eligible Equipment, and (ii) one hundred percent (100%) of the Stated Cost of Other Equipment; provided that the aggregate principal amount of the Loans shall not exceed the Credit Amount at such time; provided further that the aggregate original principal amount of all Loans advanced to Borrower relating to the financing of Other Equipment shall not at any time as of the Commitment Termination Date exceed thirty twenty percent (3020%) of the Credit Amount; provided further, aggregate original principal amount of all of all Loans. If the aggregate principal amount of all Loans that relate to the financing of Other Equipment Loans outstanding on the Commitment Termination Date shall not exceed thirty exceeds twenty percent (30%) of the aggregate principal amount of all Loans outstanding on such date. If for any reason on the Commitment Termination Date, the aggregate principal amount of Loans outstanding applicable to Other Equipment exceeds thirty percent (3020%) of the aggregate principal amount of all Loans outstanding on such date (such dollar amount shall be the "Soft Cost “Other Equipment Differential"”), then the at Borrower’s election, Borrower shall immediately either (a) pay down the Loan (without penalty for such payment) in an amount equal to the Soft Cost Differential multiplied by the Stipulated Loan Value for the Payment Date next succeeding such date for the last Loan to include Other Equipment (the "Last Loan")Differential, (b) deposit with Lender, as cash collateral to secure the Soft Cost Other Equipment Differential, an amount equal to the Soft Cost Differential, or Other Equipment Differential (c) cause to be issued for the benefit of Lender a letter of credit in an such deposit amount equal to the Soft Cost Differential. If a cash deposit is made to Lender, then (i) Borrower hereby grants a security interest in such cash to Lender, (ii) Lender shall have the right to apply such funds to the Obligations upon the occurrence and during the continuance of an Event of Default, and (iii) the amount of the cash deposited with Lender may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan Other Equipment Differential over the same time period), or (c) cause to be issued for the benefit of Lender a letter of credit in an amount equal to the Other Equipment Differential. If such a letter of credit is issued, then (i) it shall should be issued by an institution acceptable to Lender, (ii) its form and substance shall be acceptable to Lender, (iii) Lender shall have the right to draw on such letter of credit upon the occurrence and during the continuance of any Event of Default under this Agreement, and (iv) its face value may be reduced from time to time (but not more frequently than semi-annually) by an amount that corresponds to the principal reduction of the last Loan Other Equipment Differential over the same time period. Notwithstanding the foregoing, One Million Two Hundred Fifty Thousand Dollars ($1,250,000) of the Credit Amount is available, subject to the terms hereunder, for Loans with a Funding Date on or before June 30, 2001, and if this portion of the Credit Amount remains unused by June 30, 2001, it will no longer be available; the remaining Seven Hundred Fifty Thousand Dollars ($750,000) of the Credit Amount shall be available for Loans with a Funding Date on or before December 31, 2001. Loans may not be prepaid except in accordance with Section 2.5.