Common use of Capital Expenditures and Investments Clause in Contracts

Capital Expenditures and Investments. The Company has no outstanding Contracts or commitments for capital expenditures and investments, except as set forth on Schedule 2.22 attached hereto, which Schedule includes a list of all disbursements on account of capital expenditures and investments by the Company since December 31, 1998. There has been no order or ruling from the VSCC or any other regulatory body and none is threatened or expected by the Company requiring or recommending that the Company undertake any capital expenditures or investments. Attached to Schedule 2.22 are copies of the Company's 1999 and 2000 fiscal years capital expenditures budgets (by project) and, with respect to the 1999 budget, a comparison of the actual expenditures to budget (by project) year to date.

Capital Expenditures and Investments. The Company has no outstanding Contracts or commitments for capital expenditures and investments, except as set forth on Schedule 2.22 attached hereto, which Schedule includes a list of all disbursements on account of capital expenditures and investments by the Company since December 31, 19982000. There has been no order or ruling from the VSCC PPUC or any other regulatory body and none is threatened or expected by the Company requiring or recommending that the Company undertake any capital expenditures or investments. Attached to Schedule 2.22 are copies of the Company's 1999 2001 and 2000 18 2002 fiscal years capital expenditures budgets (by project) and, with respect to the 1999 2001 budget, a comparison of the actual expenditures to budget (by project) year to date.

Capital Expenditures and Investments. The Company has no outstanding Contracts or commitments for capital expenditures and investments, except as set forth on Schedule 2.22 attached hereto, which Schedule includes a list of all disbursements on account of capital expenditures and investments by the Company since December 31, 19981999. There has been no order or ruling from the VSCC WUTC or any other regulatory body and none is threatened or expected by the Company requiring or recommending that the Company undertake any capital expenditures or investments. Attached to Schedule 2.22 are copies of the Company's 1999 2000 and 2000 2001 fiscal years capital expenditures budgets (by project) and, with respect to the 1999 2000 budget, a comparison of the actual expenditures to budget (by project) year to date.