Capital Expenditures and Capitalized Leases. Borrower will not, and it will not cause or permit any Subsidiary to, make any Capital Expenditure or enter into any Capitalized Lease if the sum of (A) the aggregate amount of all Capital Expenditures (including the Capital Expenditure in question) made by Borrower and all of its Subsidiaries on a combined basis during any fiscal year of Borrower plus (B) the aggregate amount of all Capitalized Lease Obligations incurred by Borrower and all of its Subsidiaries on a combined basis during such fiscal year of Borrower would exceed $2,000,000.00. Notwithstanding any provision to the contrary, the calculation of the covenants set forth in this Section 5.01(o) shall exclude items of income and expense arising from the sale and leaseback of Borrower's real property in Sanford, Florida pursuant to the Permitted Real Estate Sale, and the calculation of the covenant set forth in subsection 5.01(o)(iv) shall exclude the pending purchase by Featherlite Aviation, Inc. of one business class aircraft up to the amount of $500,000.00. On or before each fiscal year-end of Borrower, commencing with the fiscal year ending December 31, 2003, Lender and Borrower shall agree on new financial covenant levels for the following fiscal year based upon the financial projections for such fiscal year to be furnished to Lender pursuant to Section 5.01 (a) (vii).

Capital Expenditures and Capitalized Leases. None of the Loan Parties shall make payments in any fiscal year exceeding the amount specified below for such fiscal year in the aggregate for the Loan Parties on account of the purchase or lease of any assets which if purchased would constitute fixed assets or which if leased would constitute a capitalized lease in accordance with GAAP (excluding all assets purchased or leased through (i) any Permitted Acquisition, (ii) reinvestment of insurance proceeds of a Casualty Event, or (iii) any Investment): December 31, 2004 $ 450,000,000 December 31, 2005 $ 550,000,000 December 31, 2006 $ 550,000,000 For Each Fiscal Year Thereafter $ 400,000,000 and all such capital expenditures and capitalized leases shall be made under usual and customary terms and in the ordinary course of business.

Capital Expenditures and Capitalized Leases. (Section 8.2.15) As of the Report Date for the fiscal year then ended, the aggregate amount of payments of the Loan Parties on account of the purchase or lease of any assets that if purchased would constitute fixed assets or that if leased would constitute a capitalized lease in accordance with GAAP (excluding all assets purchased or leased through (i) any Permitted Acquisition $ , (ii) reinvestment of insurance proceeds of a Casualty Event $ , or (iii) any Investment $ ) equals $ , which amount does not exceed the permitted amount of $ 1 for the current fiscal year in the aggregate for the Loan Parties.

Capital Expenditures and Capitalized Leases. Borrower will not, and it will not cause or permit any of its Subsidiaries to, make any Capital Expenditure or enter into any Capitalized Lease if the sum of (i) the aggregate amount of all Capital Expenditures (including the Capital Expenditure in question) made by Borrower and its Subsidiaries during any fiscal year of Borrower plus (ii) the aggregate amount of all rental and other payments in respect of Capitalized Leases (including the Capitalized Lease in question) made or required to be made by Borrower and its Subsidiaries during such fiscal year of Borrower would exceed $200,000.00.

Capital Expenditures and Capitalized Leases. Dealer will not, and it will not cause or permit any Subsidiary to, make any Capital Expenditure or enter into any Capitalized Lease if the sum of (A) the aggregate amount of all Capital Expenditure (including the Capital Expenditure in question) made by Dealer and all of its Subsidiaries on a combined basis during any fiscal year of Dealer plus (B) the aggregate amount of all Capitalized Lease Obligations incurred by Dealer and all of its Subsidiaries on a combined basis during such fiscal year of Dealer would exceed $2,000,000.00.

Related to Capital Expenditures and Capitalized Leases

Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).
Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).
Capitalized Lease Obligations Sale and Leaseback Transactions, export credit facilities with a maturity of at least one year and Purchase Money Indebtedness of, including Guarantees of any of the foregoing by, the Issuer and/or any Restricted Subsidiary, in an aggregate principal amount at any one time outstanding not to exceed U.S.$1 billion;
Lease Obligations Manager shall perform all duties of the landlord under all Leases insofar as such duties relate to operation, maintenance, and day-to-day management. Manager shall also provide or cause to be provided, at Owner’s expense, all services normally provided to tenants of like premises, including where applicable and without limitation, gas, electricity or other utilities required to be furnished to tenants under Leases, normal repairs and maintenance, and cleaning, and janitorial service. Manager shall arrange for and supervise the performance of all installations and improvements in space leased to any tenant that are either expressly required under the terms of the lease of such space or that are customarily provided to tenants.
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 Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.
Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).
Maximum Capital Expenditures The Parent and the Borrower will, and will cause each Consolidated Subsidiary to, not make Capital Expenditures on a consolidated basis that exceed $30,000,000 in any fiscal year (the “Base Capital Expenditure Amount”). Notwithstanding anything to the contrary, the Base Capital Expenditure Amount shall be increased by the following amounts: (i) to the extent that the aggregate amount of Capital Expenditures made by the Parent and its Consolidated Subsidiaries in any fiscal year is less than the Base Capital Expenditure Amount, the amount of such difference may be carried forward and used to make Capital Expenditures in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (i) shall in no event exceed an amount equal to 75% of the unused portion of the Base Capital Expenditure Amount for such fiscal year (without giving effect to any prior adjustments), (ii) if no Default or Event of Default has occurred and is continuing, or would result after giving effect thereto, the Parent and its Consolidated Subsidiaries may make additional Capital Expenditures to the extent that the amount of such excess is deducted from the Base Capital Expenditure Amount in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (ii) shall in no event exceed an amount equal to 25% of the Base Capital Expenditure Amount (without giving effect to any prior adjustments) and (iii) the Base Capital Expenditure Amount shall exclude any Capital Expenditures that are funded with the Available Credits; provided that, at the time of such Capital Expenditures, the Borrower shall deliver a certificate of a Financial Officer stating the portion of Capital Expenditures that is being made from the Available Credit, and setting forth a calculation of the Available Credit immediately before and immediately after such Capital Expenditures.
Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.
Capital Leases The Board of Visitors shall authorize the initiation of Capital Leases pursuant to the authorization process included in the Policy Governing Capital Projects adopted by the Board as part of the Management Agreement between the Commonwealth and the University.

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