Approved Capital Expenses Sample Clauses
The 'Approved Capital Expenses' clause defines which capital expenditures are authorized under an agreement. It typically outlines the types of investments or purchases that qualify as approved, such as major equipment, facility upgrades, or technology systems, and may specify a process for obtaining approval, like requiring written consent from certain parties. This clause ensures that only agreed-upon, necessary capital investments are made, thereby controlling costs and preventing unauthorized spending.
Approved Capital Expenses. Capital Expenses incurred by Borrower, provided that during a Cash Trap Period, such Capital Expenses shall either be (i) included in the total Approved Capital Budget or (ii) approved by Lender.
Approved Capital Expenses. Capital Expenses incurred by Borrower which are (i) included in the Approved Capital Budget (without duplication of Capital Expenses included in the Predevelopment Budget), (ii) included in the Predevelopment Budget (without duplication of Capital Expenses included in the Approved Capital Budget), or (iii) approved by Lender.
Approved Capital Expenses. Capital Expenses incurred by a Borrower, which Capital Expenses shall either be (i) included in the Approved Capital Budget for the Property owned by such Borrower for the current calendar month or (ii) approved by Lender in its reasonable discretion. Approved Leasing Expenses: actual out-of-pocket expenses incurred by a Borrower and payable to third parties that are not Affiliates of any Borrower or Guarantor (or payable to third parties that are Affiliates of any Borrower or Guarantor but only to the extent such expenses are on market terms at market rates comparable with expenses that would have been incurred in an arm’s length transaction) in leasing space at a Property pursuant to Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses are (A) specifically approved by Lender, in its reasonable discretion in connection with approving the applicable Lease, or (B) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, and Lender shall have received (and approved, if applicable, in its reasonable discretion) a budget for such tenant improvement costs and a schedule of leasing commission payments payable in connection therewith or (C) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed. Approved Leasing Expenses shall in its reasonable discretion be substantiated by executed Lease documents and/or brokerage agreements, as applicable.
Approved Capital Expenses. Capital Expenses incurred by any Borrower, which Capital Expenses shall either be (i) included in the Initial Budget or the Approved Capital Budget for the current calendar month or (ii) approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed.