Capex Sample Clauses

Capex. Capex has the meaning as defined in Schedule 10 Definitions.

Capex. According to the financial model provided, the total Project Cost including modules and sales tax will be $[ ● ] or $[ ● ]/WDC. Total direct costs of $[ ● ] ($[ ● ]/WDC) for a PV + storage project of this characteristics, size and location can be considered normal in current market conditions.

Capex. The Capex incurred in each fiscal year over the life of the Financing, specifically excluding the amounts invested in other companies as foreseen in the Financial Model and defined therein as Investments in Related Parties, may not exceed TWELVE MILLION EUROS (€12,000,000), and the maximum aggregate amount for the entire period of time may not exceed FIFTY MILLION EUROS (€50,000,000). In any event, if in any given fiscal year the Borrower were to make investments below the annual established limit, it would be allowed to increase the Capex limit for the next fiscal year in an amount equivalent to the difference between the annual limit and the amount actually incurred, although the Borrower shall only be allowed to do this once during the life of the Financing. The amount of the Deferred Payments and any additional payments for Adjustments to the Purchase-Sale Price made by Telvent Export during the life of the Financing as stipulated in the Purchase-Sale Agreement shall count towards the Capex limit for the fiscal year in which such payments are made. Prior to making any such payments, the Borrower shall provide the Agent with a certificate signed by a duly authorised representative of the Borrower stating that there will be no breach of the Financial Ratios as a consequence of making such payments. The above notwithstanding, the Borrower shall be authorised to exceed the Capex limits established in this section provided that it will result in a breach of the Debt Ratio and the Debt Service Coverage Ratio in relation to the next to calculation periods of the Financial Ratios as a consequence of having exceeded the limits. To this end, if the Borrower decides to exceed the Capex limits, it shall be obliged to provide the Agent with a certificate, signed by a duly authorised representative of the Borrower, including a forecast of the Debt Ratio and Debt Service Coverage Ratio for the next to periods covered by the Financial Ratio calculation, certifying compliance once the total Capex figure has been recorded in the corresponding items (including the excess of the limit established herein).

Capex. Customer shall pay Flex for or obtain and consign to Flex any CAPEX as set forth in Flex’s pricing quotations, the attached Fees List, or some other agreement signed by the parties incorporated herein by reference. Preparations for providing Services will not commence until payment for the CAPEX is received by Flex.

Capex. The Borrower shall provide to the Facility Agent on an annual basis the budget outlining (i) the capital expenditure requirements for the immediately following period of twelve (12) months including commentary on any technical issues, downtime and operational record and

Capex. Except (A) as set forth in the capital budget provided to Parent, or (B) for expenditures related to operational emergencies as to which notice to and opportunity to grant approval by Parent is not practicable, make or authorize capital expenditures in excess of $2,000,000 in the aggregate;

Capex. (a) Prior to entering into any construction or professional contracts related to the applicable Cap-Ex where the total cost of such contract is over $1,000,000.00 (each, a “Cap-Ex Contract”), Borrower will deliver to Agent a draft of such Cap-Ex Contract for Lender’s review and approval, such approval not to be unreasonably withheld, denied, delayed or conditioned and to be subject to the Deemed Consent Mechanics. If requested by Agent, Borrower will deliver “will-serve” letters from applicable counterparties under the Cap-Ex Contracts in excess of $1,000,000, whereby such contract counterparties have agreed to upon a continuing Event of Default, perform the applicable work for the benefit of Agent. (b) To the extent Borrower Commences a project of Cap-Ex, Borrower shall diligently prosecute same to Completion in a good and workmanlike manner and in accordance with all Legal Requirements and the CapEx Budget. USActive 36631986.12 -107- (c) To the extent Borrower Commences any particular project that constitutes Make Ready Work, Borrower shall diligently prosecute same to Completion in a good and workmanlike manner and in accordance with all Legal Requirements and the Make Ready Budget.

Capex. ■ Details of the expected capital expenditure ("Capex") per Project Period and including a summary on the eligibility of Capex. ■ A comparison of the cumulative Capex against the cumulative public subsidy paid against Milestones.

Capex. (i) the Borrower shall provide on an annual basis the budget outlining the capex requirements for the immediately following period of 12 months including commentary on any technical issues, downtime/operational record and updates/changes to the field; and (ii) such capex shall not exceed ten million Dollars (US$10,000,000) per annum unless any excess is funded by further equity or debt provided to the Borrower in accordance with the terms of clause 12.1.24(a).

Capex. (1) The parties will invest the capital expenditure (capex) necessary to develop production capacity for the Product to be supplied in accordance with this Agreement and in the proportions set out in clause 4.1(2). (2) TearLab will pay for 65% of capex as incurred. MiniFAB will pay for the remaining 35% of capex, which will be recoverable from TearLab in accordance with clause 4.1(3). Any capex amount incurred by MiniFAB in excess of the 35% will be recoverable from TearLab by monthly invoice. The parties’ obligations with respect to contributions to the capex amount are limited to an aggregate capex of $1 million AUD for Phase 1. Total contributions to the capex amount in respect of Phase 2 are subject to agreement but anticipated to be in the vicinity of $3 million AUD. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. (3) MiniFAB will recover the cost of its capex contributions through an amortised cost component in the Price for the Product charged to TearLab. The amortised amount will become payable once the monthly card volumes reach 200,000 per month. When all capex has been recovered, that cost component will be deleted. An amortised cost component will be reintroduced to cover any future capex as and when required. (4) The total amount of capex outstanding at any time will accrue interest at the Default Rate, with interest calculated and capitalised at the end of each month. (5) While any capex is outstanding to the account of MiniFAB the amortised amount repayable by TearLab in each Quarter will be the aggregate of the ‘amortised amounts’ specified in the then-current Pricing Schedule. (6) If the project does not proceed to Phase 2 by 1 January 2020 or is terminated by TearLab, TearLab will pay to MiniFAB all capex expended by MiniFAB on the project to date. (7) Despite anything to the contrary in clause 4.1(3), if monthly card volumes have not reached 200,000 per month within three and a half years of the beginning of Phase 2, TearLab will commence payment of the amortised amount at the rate of $0.30 per card on the basis of the actual number of cards purchased from MiniFAB, unless otherwise agreed.