Major Capital Expenditures Sample Clauses

Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP. Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment, for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant does not receive Notice of Landlord's disapproval of the Building Estimate within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not identified as disputed in such Landlord's Notice shall be deemed approved.
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Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant, or Manager at the direction of Tenant, shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing or vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include (i) all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP, and (ii) all other Environmental Claims of third parties other than Landlord, Tenant, Manager or their agents, successors and assigns (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), provided that in the case of this clause (ii) such Environmental Claims, together with all other such Environmental Claims of the type contemplated in this clause (ii) under all of the Other Leases, exceed $250,000 and are less than $1,250,000 (it being expressly agreed that Landlord's obligation under this clause (ii) shall not exceed, in the aggregate, $1,000,000 for all of the leased properties contemplated by this Lease and the Other Leases). Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment (or Manager's reasonable judgment if directed by Tenant to prepare the Building Estimate), for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant or Manager, as applicable, does not receive Notice of Landlord's disapproval of the Building Estimate or any item therein, within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate or such items, as applicable. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not ident...
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Major Capital Expenditures. (a) On or before the Commencement Date (with respect to the first partial Fiscal Year) and December 1 of each Fiscal Year thereafter, Tenant shall deliver to Landlord, for Landlord's approval, a detailed line-item estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP (which expenses shall include, with respect to any cost item, any customary market-rate supervisory fee, and any other fee commonly referred to as "purchasing fees", charged by Tenant, Manager or any Affiliated Person for services rendered in connection herewith) such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures") which Major Capital Expenditures Tenant believes should be made to the Leased Property for the following Lease Year, together with estimates of professionals and other appropriate backup. Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated at Tenant's sole cost and expense under Section 5.1.4(b) and referenced in Section 4.2). Except as provided in paragraph 5.1.3(b) below, Tenant acknowledges the provisions of 35
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Major Capital Expenditures. The cost of expenditures with respect to Major Capital Improvements not otherwise provided for herein, shall be approved and borne solely by Lessee and/or Owner, and shall not be paid from Gross Revenues.
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Major Capital Expenditures. If Manager performs supervisory services with respect to carrying out any Major Capital Expenditures, Manager shall be paid a supervisory fee in connection therewith. Owner shall have the option of whether to utilize Manager or a third party for such Capital Expenditures execution; provided, however, any third party selected therefor shall be subject to Manager's reasonable approval. All Capital Budgets shall contain an estimate of fees for Manager's or a third party's services in connection with the same.
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Major Capital Expenditures. Major Capital Expenditures will be undertaken only at the request of Owner, whether on its own initiative or at the suggestion of Manager, and in any event shall be subject to the approval of Manager. Major Capital Expenditures shall be the responsibility of and funded by Owner.
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Related to Major Capital Expenditures

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Maximum Capital Expenditures Make or commit to make, or allow any of its Subsidiaries to make or commit to make, Capital Expenditures exceeding, in the aggregate for each Fiscal Year until the Termination Date, the greater of (A) EBITDA for such Fiscal Year, less the sum of (I) cash interest expense for such Fiscal Year, plus (II) amounts paid under Section 2.03 and all principal payments under the GECC Capital Lease and the NTFC Capital Lease (a) during Fiscal Year 2002 (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2003) or (b) during Fiscal Year 2004 or the applicable Fiscal Year thereafter (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2004 or the applicable succeeding Fiscal Year, as the case may be), or (B) $10,000,000 for Fiscal Year 2003 and $15,000,000 for each Fiscal Year thereafter. For purposes of calculating maximum Capital Expenditures, the amount calculated in item (II) above shall be deemed not to have exceeded $20,000,000 for Fiscal Year 2004 and shall be deemed not to have exceeded $30,000,000 for Fiscal Year 2005. Compliance with this Section 5.02(q)(i) shall be measured at the end of each Fiscal Year, commencing with Fiscal Year 2003. To the extent the Borrower’s actual Capital Expenditures for any Fiscal Year are less than the maximum Capital Expenditures for such Fiscal Year computed as aforesaid, the Borrower may increase Capital Expenditures for the subsequent Fiscal Year by an amount equal to the amount by which such maximum Capital Expenditures exceed such actual Capital Expenditures, but not by an amount which exceeds $5,000,000. For the purposes of this Section 5.02(q)(i) only, Capital Expenditures shall not include the Contingent Payments and any payment made in respect of that certain litigation arising from or in relating in any way to the use of rights of way granted to the Borrower by Mississippi Power Company; provided, that, to the extent that payment made in respect of such litigation is equal to or greater than $5,000,000, the Borrower shall deliver to the Agent prior to the payment thereof, a statement that the Borrower will have not less than $11,500,000 in cash and Cash Equivalents (excluding any insurance proceeds deposited with the Collateral Agent as described in clause (C) of the proviso in the definition of “Extraordinary Receipts”) after making such payment, certified by the Chief Financial Officer of the Parent.

  • Capital Expenditures, etc With respect to Capital Expenditures, the parties covenant and agree as follows:

  • Consolidated Capital Expenditures Holdings and Company shall not, and shall not permit their Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year (or portion of a Fiscal Year set forth below) in an aggregate amount in excess of the amount set forth below opposite such Fiscal Year (the “Maximum Consolidated Capital Expenditures Amount”): Fiscal Year Maximum Consolidated Capital Expenditures Amount Portion of Fiscal Year 2007 occurring following the Closing Date $ 10,000,000 2008 $ 11,000,000 2009 $ 12,000,000 2010 $ 13,000,000 2011 $ 14,000,000 2012 $ 15,000,000 2013 $ 16,000,000 Portion of Fiscal Year 2014 occurring prior to the Term Loan Maturity Date $ 17,000,000 provided that the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased by an amount equal to the excess, if any, of the Maximum Consolidated Capital Expenditures Amount for the previous Fiscal Year (without giving effect to any adjustment in accordance with this proviso) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year (with Capital Expenditures in any Fiscal Year being deemed to have been made first from any amount carried forward from the preceding Fiscal Year), and may be further increased at the option of Company by an amount equal to 50% of the Maximum Consolidated Capital Expenditures Amount for the succeeding Fiscal Year; provided, further, that in addition to the amounts set forth above, Holdings and its Subsidiaries may make Consolidated Capital Expenditures up to the Specified Equity Amount. Any usage of the succeeding Fiscal Year’s Maximum Consolidated Capital Expenditures Amount shall be deducted from the Maximum Consolidated Capital Expenditures Amount available for such succeeding Fiscal Year. After the consummation of any Permitted Acquisition permitted hereunder, the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased in an amount equal to 110% of the average annual amount of capital expenditures made by the Person or business so acquired as reflected in the financial statements of such Person or business during the two fiscal years preceding such Permitted Acquisition.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • XXXXXX’S EXPENDITURES If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

  • Limitation on Capital Expenditures Make or commit to make (by way of the acquisition of securities of a Person or otherwise) any expenditure in respect of the purchase or other acquisition of fixed or capital assets (excluding any such asset acquired in connection with normal replacement and maintenance programs properly charged to current operations) except for:

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • Capital Budget Any amendment that is mutually agreed upon shall be set forth in writing and signed by both parties. It is acknowledged by Owner that capital expenditures required as a result of an emergency situation shall not reduce amounts available pursuant to the Capital Budget or otherwise hereunder, other than to the extent a Capital Budget item is subsumed within the capital expenditures required as a result of the occurrence of the emergency;

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