Capital Expenditure Clause Samples
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Capital Expenditure. (a) The Owner shall bear all expenditure of a capital nature or of a kind not expected to be incurred annually (including, but not limited to, expenses for the renovation, improvement and repair of the Building, the purchase, setting up, replacement, improvement and addition of installations systems, equipment, tools, plant and machineries for the Building and the costs of the relevant investigation works and professional services, but excluding all expenditure payable or to be borne by the lessees, tenants and licensees of the Building under the relevant leases, tenancy agreements and licence agreements) (“Capital Expenditure”) relating to the Building.
(b) On or before 16 November of every year, KWHK shall submit a budget in advance for the Capital Expenditure proposed to be incurred for the Building or any part(s) thereof for the following financial year, for approval by the Owner (such approval not to be unreasonably withheld).
(c) If any Capital Expenditure to be incurred is within the relevant amount contemplated under the approved budget, KWHK shall have the authority to incur such Capital Expenditure without having to seek further approval from the Owner. In any event, if any single item of Capital Expenditure exceeds HK$500,000 (even if a budget of greater than that amount shall have been approved by the Owner in advance), KWHK shall, subject to the exception specified in Clause 4.6(e) below, seek the Owner’s written approval before incurring such Capital Expenditure (such approval not to be unreasonably withheld).
(d) The Owner shall upon demand pay KWHK for such part(s) of the Capital Expenditure to be incurred by KWHK in connection with the Building (except in the circumstances as specified in Clause 4.6(e) below), in advance, either up front or as and when they fall due, as may be agreed in writing between the Owner and KWHK from time to time.
(e) Where as a result of fire, water leakage / overflow and/or other natural disasters or calamity, including without limitation, typhoon, tsunami, earthquake and flooding, and/or for other causes, any part(s) of the Building is/are damaged to a state that require repairs and/or reinstatement on an urgent / emergency basis, KWHK shall notify the Owner within 24 hours of KWHK becoming aware of the occurrence and may (unless instructed by the Owner not to commence or to stop otherwise) commission the repairs and/or reinstatement works to the extent reasonably required to avoid immediate property damage, ri...
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;
Capital Expenditure. Subject to being above the agreed, prevailing capitalisation threshold, as advised by the Department, all expenditure on the acquisition or creation of fixed assets shall be capitalised on an accruals basis in accordance with relevant accounting standards. Expenditure to be capitalised shall normally include the (a) acquisition, reclamation or laying out of land; (b) acquisition, construction, preparation or replacement of buildings and other structures or their associated fixtures and fittings; and (c) acquisition, installation or replacement of movable or fixed plant, machinery, vehicles and vessels.
Capital Expenditure. 14.1 If the Joint Committee shall at any time require to incur capital expenditure for:
14.1.1 the acquisition of property;
14.1.2 the construction of works;
14.1.3 any other capital purposes in connection with its powers
14.2 The Joint Committee shall, from time to time, pay the amounts of all interest and all instalments of principal and other payments that become due under any loan raised pursuant to Paragraph 14.1 above.
14.3 The Authorities expressly give delegated authority to the Joint Committee to determine the capital programme provided that the cost of funding the same can be met from revenue surpluses and any accrued repairs and renewals fund.
Capital Expenditure. The Borrower will limit its aggregate annual capital expenditure to US$5,000,000.
Capital Expenditure. 17.1 Neither Pooled Funds nor Aligned Funds shall normally be applied towards any one-off expenditure on goods and/or services, which will provide continuing benefit and would historically have been funded from the capital budgets of one of the Parties. If a need for capital expenditure is identified this must be agreed by the Parties and the capital expenditure must comply with any applicable grant conditions.
Capital Expenditure. Each Obligor (other than UPC Broadband Holdco) will not, and will procure that no member of the Borrower Group will, incur any material Capital Expenditure other than in relation to the Permitted Business.
Capital Expenditure. (i) The aggregate Capital Expenditure of the Group in respect of any financial year of the Borrower specified in the Column 1 below shall not exceed the amount (the Scheduled Capex Amount) set out in Column 2 below opposite that financial year.
Column 1 Column 2
(ii) No Capital Expenditure funded from:
(A) Disposal Proceeds (or proceeds to which Clause 20.11(b)(vii) (Disposals) applies), Insurance Proceeds, Report Proceeds or Flotation Proceeds as permitted under terms of this Agreement;
(B) Capitalised Lease Obligations;
(C) retained Excess Cashflow (including any de minimis amount which has been permitted to be deducted in calculating Excess Cashflow in a previous financial year);
(D) New Equity or Permitted Subordinated Debt; or
(E) a Utilisation of the Revolving Facility that is designated as a Revolving Capex Loan, each as defined in the Senior Facilities Agreement; shall be included for the purpose of calculating compliance with the requirements set out in (i) above.
(iii) The maximum aggregate permitted Capital Expenditure of the Covenant Group shall be increased in any financial year by an amount equal to fifty per cent. of the Unused Amount for the previous financial year. In any financial year, the original Scheduled Capex Amount for that financial year shall be treated as having been incurred after any Unused Amount carried forward into such financial year. No amount of Capital Expenditure may be carried forward otherwise than in accordance with this paragraph and no amount of Capital Expenditure may be carried forward for more than one financial year.
(iv) The Covenant Group may in any financial year spend up to 50 per cent. of the Scheduled Capex Amount for the next financial year (the “Next Financial Year”). The Scheduled Capex Amount for that Next Financial Year shall be reduced by the amount of Capital Expenditure attributable to the Next Financial Year which has already been spent in the current financial year.
(v) If the Covenant Group makes an acquisition permitted by the terms of this Agreement which increases Consolidated EBITDA by 10 per cent. or more, the Scheduled Capex Amount for each financial year shall be increased by an amount equal to 115% of the budgeted Capital Expenditure for the entities acquired pursuant to that acquisition.
Capital Expenditure. 12.1 The Financial Contributions shall be directed exclusively to revenue expenditure. Any arrangements for the sharing of capital expenditure shall be made separately and in accordance with section 256 (or section 76) of the NHS Act 2006 and Directions made thereunder.
Capital Expenditure. 4 1.16 Claim .......................................................4 1.17 Code ........................................................4 1.18 Collective Leased Properties ................................4 1.19