Capital Expenditure Commitment Sample Clauses
A Capital Expenditure Commitment clause defines the obligations and limitations regarding significant investments in assets or infrastructure by a party, typically within a business or partnership agreement. This clause outlines the process for approving capital expenditures, such as requiring prior consent from certain stakeholders or setting monetary thresholds for automatic approval. Its core function is to ensure that large financial commitments are made transparently and with appropriate oversight, thereby protecting the interests of all parties and preventing unauthorized or excessive spending.
Capital Expenditure Commitment. Oncor shall make minimum capital expenditures equal to a budget of at least $7.5 billion over the five-year period beginning January 1, 2018, and ending December 31, 2022, subject to the following adjustments to the extent reported to the Commission in Oncor’s quarterly earnings monitor report: Oncor may reduce capital spending due to conditions not under Oncor’s control, including, without limitation, siting delays, cancellations of projects by third-parties, weaker than expected economic conditions, or if Oncor determines that a particular expenditure would not be prudent.
Capital Expenditure Commitment. During the period from the Completion Date until 31 December 2002, the Purchaser must undertake or cause to be undertaken (by the Company or a third party) Capital Expenditure totalling not less than $52,300,000. The Purchaser undertakes to ensure that any maintenance or refurbishment of locomotives and wagons is carried out by or on behalf of the Company in South Australia.
Capital Expenditure Commitment. (a) Prior to Closing, the Company shall provide Parent with a detailed budget for review and approval by Parent’s Board of Directors (the “Budget”) outlining the Surviving Corporation’s and Company Subsidiaries’ intended use of up to Ten Million and 00/100 Dollars ($10,000,000.00) (the “Capital Commitment”) for specified capital expenditures. Following the Closing, the Parent commits to make available the Capital Commitment to the Surviving Corporation for use in accordance with the Budget. To the extent any material changes to the Budget become necessary, the Selling Securityholders’ Representative, on behalf of the Surviving Corporation, shall submit to Parent a revised Budget for approval by Parent’s Board of Directors. Parent agrees that it shall make all decisions with respect to the approval of the Budget, including any requested changes, and the Capital Commitment reasonably and in good faith and shall not act in a manner that would reasonably be expected to adversely affect the ability of the Selling Securityholders to earn the maximum amount of the Earnout Payments resulting from the use of the Capital Commitment.
(b) In the event that Parent fails to expend any portion of the Capital Commitment in accordance with the Budget (the “Capital Shortfall”) when requested by the Selling Securityholders’ Representative, then the total amount of revenues set forth in the Revenue Forecast for any geographic location that relates to the Capital Shortfall shall be credited for the Fiscal Year in which such Capital Shortfall arises and for the two (2) subsequent Fiscal Years (such amount, the “Revenue Credit”) for purposes of determining what portion of any Earnout Payments have been earned in such Fiscal Year.
Capital Expenditure Commitment. 38 19.3 Audit of Capital Expenditure Commitment..........................................38 19.4 Deferral of Capital Expenditure..................................................39 19.5
Capital Expenditure Commitment. The Seller shall bear full financial responsibility for the completion of all 2006 customer program capital projects, in the amounts and for the projects set forth on Schedule 5.3.