Capital Expenditure Fund Sample Clauses

Capital Expenditure Fund. Commencing in Lease Year twenty (20) and extending through Lease Year twenty-five (25), Lessee shall set aside an amount equal to twenty percent (20%) per year of Average Repair Costs into a separate reserve account (until 100% of Average Repair Costs is deposited), in order to fund capital expenditures for the Premises (“CapEx Fund”), which is required to be capitalized as an improvement to the Premises. The CapEx Fund may be used beginning in Lease Year twenty-one (21). The CapEx Fund shall be applied toward major repairs and improvements, including, but not limited to, substantial mechanical and structural purchases, upgrades, improvements, or repairs; the CapEx Fund shall not be applied to minor repairs due to regular wear and tear. The CapEx Fund accrued from Lease Years twenty (20) through twenty-five (25) must be spent in the manner specified above on or before Lease Year forty (40). In the event Lessee exercises its First Renewal Term, commencing in Lease Year forty (40) and extending through Lease Year forty-five (45), the CapEx Fund shall be replenished in the manner specified above. The CapEx Fund accrued from Lease Years forty (40) through forty-five (45) must be spent in the manner specified above on or before Lease Year sixty (60). In the event Lessee exercises its Second Renewal Term, commencing in Lease Year sixty (60) and extending through Lease Year sixty-five (65), the CapEx Fund shall be replenished in the manner specified above. The CapEx Fund accrued from Lease Years sixty (60) through sixty-five (65) must be spent in the manner specified above on or before the termination of the Lease. Lessee shall maintain financial accounting and “scope of work” records together with any corresponding documentation of amounts placed and amounts used from the CapEx Fund, which shall be subject to review by Lessor, in the manner specified above in sections 4.6 and 4.7 of this Lease.
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Capital Expenditure Fund. (a) SPE shall lend to the Partnership ("Capital Expenditure Commitment"), up to an aggregate amount of $7.5 million, to finance expenditures for capital assets or acquisitions of properties which the Partnership (with the consent of both Partners) proposes to acquire or develop ("Capital Expenditure Loans"), and for no other purposes. The Partnership shall not be entitled to reborrow the Capital Expenditure Loans when repaid. Capital Expenditure Loans shall bear interest at the rate of 1/2% above the prime rate from time to time as established by Bank of America or such other bank as may be determined by the Management Committee. Each Capital Expenditure Loan shall be repayable in 120 equal consecutive monthly installments together with interest with the first such installment of principal and interest due on the first day of the month next following the date that the Theatre Property which is the subject of such loan is opened (in the case of new construction or other development) or acquired (in the case of an acquisition). In the event S&J ceases to be a Partner, the Capital Expenditure Commitment shall automatically terminate at the time of such cessation, and SPE shall not be obligated to make any future Capital Expenditure Loans.
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Capital Expenditure Fund. (a) On the Series F Closing Date, $14,946,000 shall be delivered to the Depositary Agent and deposited in the Capital Expenditure Fund from the net proceeds of the sale of the Series F Securities. All Equity Contributions received by the Depositary Agent pursuant to Section 2(d) of the Equity Commitment Agreement shall be deposited into the Capital Expenditure Fund.
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Capital Expenditure Fund. 17 3.8 Application of Capital Expenditure Fund........................................ 18 3.9 Unbudgeted Capital Expenditures................................................ 18 3.10 Agent Method for Purchases of Capital Expenditures........................................................ 18 ARTICLE IV........................................................................................... 20
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Capital Expenditure Fund. Lessor shall establish and maintain an account to provide a reserve for the Capital Expenditures costs at the Facility and each other facility covered by a Percentage Lease. Such Account shall be funded with an initial balance of _____________________ and 00/100 Dollars ($_________) upon or prior to the execution of this Percentage Lease Agreement. In addition, Lessor shall deposit in such account a quarterly amount equal to four percent (4%) of the Room and Other Revenues for each such Facility.
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Capital Expenditure Fund. 19 3.9 Application of Capital Expenditure Fund............19
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Capital Expenditure Fund. Lessor shall establish and maintain an account to provide a reserve for the Capital Expenditures costs at the Facility and each other facility covered by a Percentage Lease. Such Account shall be funded with an initial balance of $3,500,000 upon or prior to the execution of this Percentage Lease Agreement. In addition, Lessor shall deposit in such account a quarterly amount equal to four per cent (4%) of the sum of (i) the Room and Other Revenues plus (ii) the Food and Beverage Revenues for each such Facility. Subject to the provisions of Section 19.1(a), such account shall be used to defer the costs of Capital Expenditures at all such Facilities; provided that Lessor, in its reasonable discretion, shall be entitled to use such funds for other purposes if adequate reserves remain for the purpose of Capital Expenditures at all such Facilities.
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Capital Expenditure Fund 
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Related to Capital Expenditure Fund

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • 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 Expenditures, etc With respect to Capital Expenditures, the parties covenant and agree as follows:

  • Maximum Capital Expenditures Make or commit to make, or allow any of its Subsidiaries to make or commit to make, Capital Expenditures exceeding, in the aggregate for each Fiscal Year until the Termination Date, the greater of (A) EBITDA for such Fiscal Year, less the sum of (I) cash interest expense for such Fiscal Year, plus (II) amounts paid under Section 2.03 and all principal payments under the GECC Capital Lease and the NTFC Capital Lease (a) during Fiscal Year 2002 (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2003) or (b) during Fiscal Year 2004 or the applicable Fiscal Year thereafter (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2004 or the applicable succeeding Fiscal Year, as the case may be), or (B) $10,000,000 for Fiscal Year 2003 and $15,000,000 for each Fiscal Year thereafter. For purposes of calculating maximum Capital Expenditures, the amount calculated in item (II) above shall be deemed not to have exceeded $20,000,000 for Fiscal Year 2004 and shall be deemed not to have exceeded $30,000,000 for Fiscal Year 2005. Compliance with this Section 5.02(q)(i) shall be measured at the end of each Fiscal Year, commencing with Fiscal Year 2003. To the extent the Borrower’s actual Capital Expenditures for any Fiscal Year are less than the maximum Capital Expenditures for such Fiscal Year computed as aforesaid, the Borrower may increase Capital Expenditures for the subsequent Fiscal Year by an amount equal to the amount by which such maximum Capital Expenditures exceed such actual Capital Expenditures, but not by an amount which exceeds $5,000,000. For the purposes of this Section 5.02(q)(i) only, Capital Expenditures shall not include the Contingent Payments and any payment made in respect of that certain litigation arising from or in relating in any way to the use of rights of way granted to the Borrower by Mississippi Power Company; provided, that, to the extent that payment made in respect of such litigation is equal to or greater than $5,000,000, the Borrower shall deliver to the Agent prior to the payment thereof, a statement that the Borrower will have not less than $11,500,000 in cash and Cash Equivalents (excluding any insurance proceeds deposited with the Collateral Agent as described in clause (C) of the proviso in the definition of “Extraordinary Receipts”) after making such payment, certified by the Chief Financial Officer of the Parent.

  • Consolidated Capital Expenditures Company shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year indicated below, in an aggregate amount in excess of the corresponding amount (the “Maximum Consolidated Capital Expenditures Amount”) set forth below opposite such Fiscal Year; provided that the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased by (i) an aggregate amount equal to the Net Securities Proceeds received by Company in such Fiscal Year from the issuance of any Capital Stock of Company or any of its Subsidiaries, but solely to the extent such Net Securities Proceeds are not applied to increase the limit under subsection 7.3(vi), (ii) to the extent Company and its Subsidiaries have generated Consolidated Excess Cash Flow in any Fiscal Quarter of such Fiscal Year in excess of $12,500,000, an amount not to exceed 50% of such excess (or 100% of such excess to the extent the Consolidated Leverage Ratio is less than 2.00:1.00 at the end of the preceding Fiscal Year), but solely to the extent that such excess is not applied to increase the limit under subsection 7.5(v), and (iii) (x) if the actual amount of Consolidated Capital Expenditures made in any Fiscal Year is less than the Maximum Consolidated Capital Expenditures Amount for such Fiscal Year (before giving effect to any increase pursuant to clause (i), (ii) or (iii) of this proviso), then an amount of such shortfall may be added to the Maximum Consolidated Capital Expenditures Amount for the immediately succeeding (but not any other) Fiscal Year and (y) in determining whether any amount is available for carryover to the succeeding Fiscal Year pursuant to the preceding subclause (iii)(x), the amount expended in any Fiscal Year shall first be deemed to be from any amount carried over to such Fiscal Year from the immediately preceding Fiscal Year and any other increases pursuant to clauses (i) or (ii) of this proviso: Fiscal Year Maximum Consolidated Capital Expenditures 2009 $ 125,000,000 2010 $ 150,000,000 2011 and each Fiscal Year thereafter $ 175,000,000

  • No Expenditure of Funds No provision of this Agreement shall require Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if it shall believe in good faith that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it.

  • XXXXXX’S EXPENDITURES If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Limitation on Capital Expenditures Make or commit to make (by way of the acquisition of securities of a Person or otherwise) any expenditure in respect of the purchase or other acquisition of fixed or capital assets (excluding any such asset acquired in connection with normal replacement and maintenance programs properly charged to current operations) except for:

  • Projected Operating Budget Furnish Agent, no later than thirty (30) days prior to the beginning of Borrower’s fiscal years commencing with fiscal year 2010, a month by month projected operating budget and cash flow of Borrower on a condolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President or Chief Financial Officer of Borrower to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.

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