Capital Expenditure Funding Sample Clauses

Capital Expenditure Funding. 24 6.6. CITGO Partners' Option to Increase Their Collective Participation Percentage................................... 24 6.7. Return of Capital Contributions............................ 26 6.8. Administration and Investment of Funds..................... 26

Capital Expenditure Funding. To the extent that the Partnership Governance Committee determines at any time after the Conversion Date that certain capital expenditures will be required and that funds are needed by the Partnership for such capital expenditures, the Partners shall fund the amount needed by the Partnership for such purposes. With respect to the funding required under this Section, the Partnership Governance Committee or the CEO shall inform the Partners as to the aggregate amount required to be funded, the intended use of the funds, and the due date or dates for each Partner's funding obligation. The amount required to be funded by each Partner on any given date shall equal the aggregate amount due on such date multiplied by the Partner's Participation Percentage on such date. The amounts to be funded by the Partners shall be funded with Capital Contributions, if such amounts are funded prorated in accordance with the Partners' Participation Percentage, or may be funded with loans (by unanimous consent of the Partnership Governance Committee). The amounts funded hereunder shall be used solely for the purposes set forth herein as determined by the Partnership Governance Committee.

Capital Expenditure Funding. The JVC will not require any other capital expenditure funding or outlay from the Shareholders’ for the next 5 years from the date of the JVA other than as follows: RM Preliminary cost 100,000 Plant and machinery 3,000,000 Furniture fittings and office equipment 150,000 Working capital 1,750,000 Total 5,000,000

Capital Expenditure Funding. The Museum and the City agree to work cooperatively to prepare, as part of the Museum’s annual report to the city, an updated evaluation and needs assessment for capital improvements for the facility. The Museum agrees to pay all costs incurred in connection with the construction of any new structures, facilities, and improvements, unless otherwise expressly agreed to in writing by the Museum and the City. In any case of construction, the Museum agrees to make direct payment to all materials, product, and service providers for all such costs as they are incurred. The Museum shall have no right, authority, or power to bind the City for the payment of any claim for labor or material or for any charge or expense incurred in the erection, construction, operation, or maintenance of said improvements. Museum agrees to require contractors to name the City as beneficiary of the required original performance bond and the City as additional insured in any comprehensive accident or general liability insurance; builder's risk insurance; or any other policies obtained by the Museum relating to the approved construction.

Capital Expenditure Funding. To the extent that the Partnership Governance Committee determines at any time after the Conversion Date that certain capital expenditures will be required and that funds are needed by the Partnership for such capital expenditures, the Partners shall fund the amount needed by the Partnership for such purposes. With respect to the funding required under this Section, the Partnership Governance Committee or the CEO shall inform the Partners as to the aggregate amount required to be funded, the intended use of the

Capital Expenditure Funding i. The Board and the City agree to work cooperatively to prepare, as part of the Board’s annual report to the city, an updated evaluation and needs assessment for capital improvements for the facility. ii. The Board agrees to pay all costs incurred in connection with the construction of any new structures, facilities, and improvements, unless otherwise expressly agreed to in writing by the Board and the City. In any case of construction, the Board agrees to make direct payment to all materials, product, and service providers for all such costs as they are incurred. The Board shall have no right, authority, or power to bind the City for the payment of any claim for labor or material or for any charge or expense incurred in the erection, construction, operation, or maintenance of said improvements. Board agrees to require contractors to name the City as beneficiary of the required original performance bond and the City as additional insured in any comprehensive accident or general liability insurance; builder's risk insurance; or any other policies obtained by the Board relating to the approved construction. iii. The parties agree that any construction of new structures, facilities, and improvements within the Facility property paid for by the Board shall become the property of the City upon the completion of construction of any such new structures, facilities, and improvements.