Common use of Application of Capital Expenditures Clause in Contracts

Application of Capital Expenditures. For the avoidance of doubt: (A) Required Capital Expenditures counted toward satisfying one of the Minimum Cap Ex Requirements also shall count (to the extent applicable) toward satisfying the other Minimum Cap Ex Requirements except to the extent otherwise provided herein; (B) expenditures with respect to any property that is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the Leased Property Tests; (C) expenditures with respect to any property acquired by CEOC, Tenant, any Other Tenants or their respective subsidiaries after the Commencement Date which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the Leased Property Tests or the All Property Tests; (D) expenditures with respect to any property (other than the London Clubs) which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” or count towards the Minimum Cap Ex Requirements for purposes of the All Property Tests; and (E) expenditures with respect to any property that is included as Leased Property (as defined in the Las Vegas Lease) under the Las Vegas Lease, other than the Leased Property (CPLV), shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of the Leased Property Tests or the All Property Tests.

Application of Capital Expenditures. For the avoidance of doubt: (A) Required Capital Expenditures counted toward satisfying one of the Minimum Cap Ex Requirements also shall count (to the extent applicable) toward satisfying the other Minimum Cap Ex Requirements except to the extent otherwise provided herein; (B) expenditures with respect to any property that is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of (HLV) or toward the Leased Property TestsMinimum Cap Ex Requirements (CPLV); (C) expenditures with respect to any property that is not included as Leased Property (CPLV) or Other Leased Property under this Lease or an Other Lease (as applicable) shall not count toward the Minimum Cap Ex Requirements (CPLV); (D) expenditures with respect to any property that is not included as Leased Property (HLV) under this Lease shall not count toward the Minimum Cap Ex Requirements (HLV); (E) expenditures with respect to any property acquired by CEOC, Tenant, any Other Tenants CEOC or their respective its subsidiaries after the Commencement Date which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” nor count toward the Minimum Cap Ex Requirements for purposes of (CPLV) or toward the Leased Property Tests or the All Property TestsMinimum Cap Ex Requirements (HLV); (DF) expenditures with respect to any property (other than the London Clubs) which is not included as Leased Property or Other Leased Property under this Lease or an Other Lease (as applicable) shall not constitute “Capital Expenditures” or ”; and (G) (x) expenditures with respect to the Leased Property (HLV) shall not count towards any of the Minimum Cap Ex Requirements for purposes of the All Property Tests; (CPLV) and (Ey) expenditures with respect to any property that is included as Leased Property (as defined in the Las Vegas Lease) under the Las Vegas Lease, other than the Leased Property (CPLV), ) shall not constitute “Capital Expenditures” nor count toward towards any of the Minimum Cap Ex Requirements for purposes of the Leased Property Tests or the All Property Tests(HLV).