Annual Capital Expenditure Budget Sample Clauses

Annual Capital Expenditure Budget. On or prior to January 31 of each calendar year, Tenant shall deliver to Landlord, at Tenant’s expense, a budget (the “Annual Capital Expenditure Budget”) setting forth Tenant’s reasonable estimate of the capital repairs, replacements and improvements to the Premises that Tenant anticipates will be necessary in such calendar year to comply with the maintenance, repair and replacement obligations contained in Section 9 hereof and maintain the Leased Properties in a high quality condition, and, on or prior to the December 15 preceding the commencement of such calendar year, Tenant shall deliver to Landlord, at Tenant’s expense, a preliminary draft of the aforesaid Annual Capital Expenditure Budget for such calendar year. Tenant shall perform any and all capital repairs, replacements or improvements contemplated by the Annual Capital Expenditure Budget within twenty-four (24) months after the commencement of the calendar year to which such Annual Capital Expenditure Budget relates. If Tenant has not completed such capital repairs, replacements or improvements within such twenty-four (24) month period, Landlord may, but shall not be obligated to, complete such capital repairs, replacements or improvements, in which case Landlord may reimburse itself for the cost of any such work by withdrawing funds from the Capital Expenditures Account sufficient to pay for such capital repairs, replacements or improvements, and Tenant shall, within ten (10) days following demand therefor by Landlord, (i) restore to the Capital Expenditures Account any amount so withdrawn therefrom and paid to Landlord and (ii) to the extent there were insufficient funds in the Capital Expenditures Account fully to reimburse Landlord for the cost of such work, pay to Landlord any remaining unreimbursed amount. In the event of any payment by Tenant pursuant to subsection (i) and/or (ii) above, Tenant shall be entitled to include the amount thereof in its next Capital Expenditures Report.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Annual Capital Expenditure Budget. Approve the capital expenditure budget for any fiscal year of the Company.
Sample 1Sample 2Sample 3
Annual Capital Expenditure Budget. No later than 45 days after the end of the calendar year during the Term, Guarantor shall deliver to Landlord, at Guarantor’s expense, a Capital Budget setting forth Guarantor’s reasonable estimate of the capital repairs, replacements and improvements to the Premises, and each Facility included therein, that Guarantor anticipates will be necessary in such calendar year to comply with the maintenance, repair and replacement obligations contained in this Lease.
Sample 1Sample 2
Annual Capital Expenditure Budget. When used in these By-Laws, the term "Annual Capital Expenditure Budget" shall mean an annual capital expenditure budget, which shall be approved by the Board of Directors not later than the last day of the preceding fiscal year (or at such later time determined by the Board pursuant to Section 2.1).
Sample 1Sample 2
Annual Capital Expenditure Budget. Within thirty (30) days prior to the commencement of each calendar year, Tenant shall deliver to Landlord, at Tenant's expense, a budget (the "Annual Capital Expenditure Budget") setting forth Tenant's reasonable estimate of the capital repairs, replacements and improvements to the Premises that Tenant anticipates will be necessary in such calendar year to comply with the maintenance, repair and replacement obligations contained in Section 9 hereof and maintain the Leased Properties in the Required Condition. The Annual Capital Expenditure Budget shall be subject to Landlord's approval (which approval shall not be unreasonably withheld) for purposes of determining and confirming that the capital repairs, replacements and improvements are sufficient to satisfy Tenant's obligations pursuant to Section
Sample 1
Annual Capital Expenditure Budget. Within ninety (90) days after the commencement of each calendar year, Tenant shall deliver to Landlord, at Tenant's expense, a budget (the "ANNUAL CAPITAL EXPENDITURE BUDGET") setting forth Tenant's reasonable estimate of the capital repairs, replacements and improvements to the Premises that Tenant anticipates will be required to be made in such calendar year pursuant to the terms of this Lease; provided, however, that failure by Tenant to make, or to cause to be made, in any year, any capital repairs, replacements or improvements included in the Annual Capital Expenditure Budget for such year shall not, in and of itself, be a default or Event of Default under this Lease.
Sample 1
Annual Capital Expenditure Budget. Within ninety (90) days prior to the commencement of each calendar year, Tenant shall deliver to Landlord, at Tenant's expense, a budget (the "ANNUAL CAPITAL EXPENDITURE BUDGET") setting forth Tenant's reasonable estimate of the repairs, replacements and capital improvements to the Premises that Tenant anticipates will be necessary in such calendar year to comply with the maintenance, repair and replacement obligations contained in SECTION 9 hereof and maintain the Leased Properties in the condition required under SECTION 9. The Annual Capital Expenditure Budget shall be subject to Landlord's approval (which approval shall not be unreasonably withheld) for purposes of determining and confirming that the repairs, replacements and capital improvements are sufficient to satisfy Tenant's obligations pursuant to SECTION 9 hereof; provided, however, that the grant by Landlord of its approval to any Annual Capital Expenditure Budget shall not be deemed a consent, acknowledgement or agreement on Landlord's part that such repairs, replacements or capital improvements are sufficient to satisfy Tenant's obligations pursuant to SECTION 9 hereunder.
Sample 1
AutoNDA by SimpleDocs
Annual Capital Expenditure Budget. Following approval of the Board of Directors of Brookdale Senior Living Inc. (but not later than January 31), at Tenant’s expense, Tenant shall deliver to Landlord a budget for the calendar year setting forth Tenant’s reasonable estimate of the capital repairs, replacements and improvements to the Premises, and each Facility included therein, including a designation of any capital expenditure projects with respect to which Tenant anticipates requesting Landlord Funded Upgrade Expenditures pursuant to Section 6.3.5.
Sample 1

Related to Annual Capital Expenditure Budget

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

Time is Money Join Law Insider Premium to draft better contracts faster.