Common use of Capital Expenditure Limits Clause in Contracts

Capital Expenditure Limits. Borrower shall not, and shall not permit any Subsidiary to, make or incur Capital Expenditures during each period set forth in the table below in excess of an aggregate amount equal to the applicable Capital Expenditure Limit for such period. The term "Capital Expenditure Limit" means for each period set forth in the table below, the sum of (a) the Dollar amount set forth in the table below opposite the applicable period (such Dollar amount as set forth for each such period herein the "Yearly Limit") plus (b) the lesser of (i) One Hundred percent (100%) of the Yearly Limit from the immediately preceding period which was not expended by Borrower and Subsidiaries for Capital Expenditures in such preceding period or (ii) Four Million Dollars ($4,000,000) (the amount calculated for any period under this clause (b), herein the "Carryover Amount"). Any Carryover Amount carried into either the 1998 or 1999 Fiscal Years may only used for the contemplated upgrade of Borrower's and the Subsidiaries' computer system. In calculating compliance with this Section 10.3, (a) Capital Expenditures made in a period shall first be debited against the Yearly Limit for such period then debited against the Carryover Amount carried into such period, if any, from the preceding period pursuant to this Section 10.3, and (b) the aggregate amount of all payments due under a Capital Lease Obligation for the entire term thereof (excluding, however, the interest portion of capitalized lease payments) shall be considered expended in full on the date that the Capital Lease Obligation is entered into. =============================================================== Period Amount =============================================================== Closing Date through December 31, 1997 $ 1,000,000 --------------------------------------------------------------- January 1, 1998 through December 31, 1998 $ 7,500,000 --------------------------------------------------------------- January 1, 1999 through December 31, 1999 $ 7,500,000 --------------------------------------------------------------- Each Fiscal Year thereafter $ 5,000,000 ===============================================================

Capital Expenditure Limits. The Borrower shall not, and shall not permit any Subsidiary to, make or incur Capital Expenditures during each period set forth in the table below in excess of an aggregate amount for the Borrower and all Subsidiaries equal to the applicable Capital Expenditure Limit for such period. The term "Capital Expenditure Limit" means means, for each period set forth in the table below, the sum of (a) the Dollar amount set forth in the table below opposite the applicable period (such Dollar amount as set forth for each such period herein the "Yearly Limit") plus (b) the lesser of (i) One Hundred percent (100%) of the portion of the Yearly Limit from the immediately preceding period which was not expended by the Borrower and the Subsidiaries for Capital Expenditures in such preceding period or (ii) Four Million Dollars ($4,000,000) (the amount calculated for any period under this clause (b), herein the "Carryover Amount"). Any Carryover Amount carried into either the 1998 or 1999 Fiscal Years may only used for the contemplated upgrade of Borrower's and the Subsidiaries' computer system. In calculating compliance with this Section 10.310.6, (a) Capital Expenditures made in a period shall first be debited against the Yearly Limit for such period then debited against the Carryover Amount carried into such period, if any, from the preceding period pursuant to this Section 10.310.6, and (b) the aggregate amount of all payments due under a Capital Lease Obligation for the entire term thereof (excluding, however, the interest portion of capitalized lease payments) shall be considered expended in full on the date that the Capital Lease Obligation is entered into. ====================================================== ========== Period Amount ====================================================== ========== Closing Date through Calendar year ending December 31, 1997 $ 1,000,000 --------------------------------------------------------------- January 1, 1998 through December 31, 1998 $ 7,500,000 --------------------------------------------------------------- January 1, 1999 through December 31, 1999 $ 7,500,000 --------------------------------------------------------------- 2000 $7,000,000 -------------------------------------- ---------- Each Fiscal Year thereafter $ 5,000,000 $7,500,000 ====================================== ==========================

Capital Expenditure Limits. Borrower Parent shall not, and shall not permit any Subsidiary to, make or incur Capital Expenditures during each period set forth in the table below in excess of an aggregate amount for Parent and all Subsidiaries equal to the applicable Capital Expenditure Limit for such period. The term "Capital Expenditure Limit" means means, for each period set forth in the table below, the sum of (a) the Dollar amount set forth in the table below opposite the applicable period (such Dollar amount as set forth for each such period herein the "Yearly Limit") plus (b) the lesser of (i) One Hundred percent (100%) of the portion of the Yearly Limit from the immediately preceding period which was not expended by Borrower Parent and the Subsidiaries for Capital Expenditures in such preceding period or (ii) Four Million Dollars ($4,000,000) (the amount calculated for any period under this clause (b), herein the "Carryover Amount"). Any Carryover Amount carried into either the 1998 or 1999 Fiscal Years may only used for the contemplated upgrade of Borrower's and the Subsidiaries' computer system. In calculating compliance with this Section 10.310.6, (a) Capital Expenditures made in a period shall first be debited against the Yearly Limit for such period then debited against the Carryover Amount carried into such period, if any, from the preceding period pursuant to this Section 10.310.6, and (b) the aggregate amount of all payments due under a Capital Lease Obligation for the entire term thereof (excluding, however, the interest portion of capitalized lease payments) shall be considered expended in full on the date that the Capital Lease Obligation is entered into. =================================================== =============================== Period Amount ============--------------------------------------------------- ------------------------------- Calendar year ending December 31 2000 $7,000,000 --------------------------------------------------- ------------------------------- Each Fiscal Year thereafter $7,500,000 =================================================== Closing Date through December 31, 1997 $ 1,000,000 --------------------------------------------------------------- January 1, 1998 through December 31, 1998 $ 7,500,000 --------------------------------------------------------------- January 1, 1999 through December 31, 1999 $ 7,500,000 --------------------------------------------------------------- Each Fiscal Year thereafter $ 5,000,000 ===============================================================

Capital Expenditure Limits. Borrower shall notDuring any Fiscal Year, and shall not permit any Subsidiary to, make or incur the -------------------------- aggregate amount of all Capital Expenditures during each period set forth in of the table below in excess of an aggregate amount equal to Borrower and the Subsidiaries will not exceed the applicable Capital Expenditure Limit for such periodFiscal Year; provided that, to the extent that a corresponding Equity Issuance -------- has been made by the Borrower equal to at least the amount of Internet Expenditures, those Internet Expenditures which would otherwise constitute capital expenditures will be deducted from Capital Expenditures for purposes of this Section 11.6. In addition, for the period beginning January 1, 2000 and ending June 30, 2000 the aggregate amount of all Capital Expenditures of the Borrower and the Subsidiaries will not exceed $1,500,000 unless a corresponding Equity Issuance has been made by the Borrower equal to at least the amount of such excess. The term "Capital Expenditure Limit" means the sum of the ------------------------- following: (i) for each period Fiscal Year set forth in the table below, the sum of (a) the Dollar amount Amount set forth in the table below opposite the applicable period Fiscal Year; --------------------------------------------------------------- Fiscal Year Dollar Amount --------------------------------------------------------------- 2000 $2,000,000 --------------------------------------------------------------- 2001 $1,000,000 --------------------------------------------------------------- 2002 $1,000,000 --------------------------------------------------------------- 2003 $1,000,000 --------------------------------------------------------------- 2004 $1,000,000 --------------------------------------------------------------- (such Dollar the amount as set forth determined in accordance with this clause (i) for each such period Fiscal Year is herein called the "Yearly Limit") plus (bii) the lesser of (i) One Hundred percent (100%) portion of the Yearly Limit ------------ ---- from the immediately preceding period Fiscal Year which was not expended by the Borrower and the Subsidiaries for Capital Expenditures in such preceding period or Fiscal Year (ii) Four Million Dollars ($4,000,000) (the amount calculated for any period under this clause (b), herein the "Carryover Amount"). Any In calculating the Carryover Amount carried into either for any ---------------- Fiscal Year, the 1998 or 1999 Yearly Limit applicable to the previous Fiscal Years may only used for the contemplated upgrade of Borrower's and the Subsidiaries' computer system. In calculating compliance with this Section 10.3, (a) Year shall be deemed to have been utilized first by any Capital Expenditures made in a period shall first be debited against the Yearly Limit for such period then debited against the Carryover Amount carried into such period, if any, from the preceding period pursuant to this Section 10.3, and (b) the aggregate amount of all payments due under a Capital Lease Obligation for the entire term thereof (excluding, however, the interest portion of capitalized lease payments) shall be considered expended in full on the date that the Capital Lease Obligation is entered into. =============================================================== Period Amount =============================================================== Closing Date through December 31, 1997 $ 1,000,000 --------------------------------------------------------------- January 1, 1998 through December 31, 1998 $ 7,500,000 --------------------------------------------------------------- January 1, 1999 through December 31, 1999 $ 7,500,000 --------------------------------------------------------------- Each Fiscal Year thereafter $ 5,000,000 ===============================================================Year.