Capital Expenditures Budget. A capital expenditure budget setting forth a program of capital expenditures for the Corporation Centers for the next fiscal year;
Capital Expenditures Budget. The Company will furnish an annual capital expenditure budget, within 60 days after the end of each fiscal year. The Company will also furnish a revised budget if increases over the original capital expenditure budget are approved by the board of directors.
Capital Expenditures Budget. Promptly upon becoming available and in any event within thirty (30) days after the end of each fiscal year of the Company, a capital expenditure budget for the next (or present, as applicable) fiscal year setting forth all proposed Capital Expenditures to be incurred during such fiscal year.
Capital Expenditures Budget. Capital Expenditures Budget" shall mean an annual budget prepared by Operator and approved by City as provided in Section 4.6.3, reflecting the estimated costs for all Capital Expenditures planned for the next Fiscal Year which, in the reasonable opinion of Operator, are necessary to keep and maintain the DPAC during such Fiscal Year in compliance with the Operating Standards.
Capital Expenditures Budget. Promptly upon becoming available and in any event within 30 days after the end of each fiscal year of the Borrower, a capital expenditure budget for the next fiscal year setting forth all proposed capital expenditures to be incurred during such fiscal year.
Capital Expenditures Budget. On or before thirty (30) days prior to the end of each Lease Year, Tenant shall prepare a budget in the form of Schedule 5.1.3 (the “Capex Budget”) of Capital Expenditures anticipated during the ensuing Lease Year and shall submit such Capex Budget to Landlord for its approval. If Tenant does not receive Notice of Landlord’s disapproval of the Capex Budget within twenty (20) Business Days after delivery of the Capex Budget to Landlord, then Landlord shall be deemed to have approved the Capex Budget. In the event Landlord disapproves the Capex Budget, Landlord’s Notice shall identify disputed items on each line item within a Category. Items not identified as disputed in such Landlord’s Notice shall be deemed approved. In the event Landlord timely disapproves any Capex Budget or any item within any Capex Budget, then, Tenant shall promptly revise the Capex Budget until Landlord approves the Capex Budget. The Capex Budget submitted by Tenant and as approved or deemed approved by Landlord is referred to herein as the “Approved Capex Budget”. Upon the occurrence of any event that causes the Approved Capex Budget to be incorrect or inaccurate (because of, by way of example, a subsequent agreement of the partners of Landlord or any event covered by Section 10.2 or 11.2 below), Tenant shall revise the Capex Budget and submit it to the Landlord for approval. A revised Capex Budget shall not become an Approved Capex Budget until approved by Landlord.
Capital Expenditures Budget. The Approved Budget shall include a capital budget (the “Capital Budget”) for each Community outlining a program of capital expenditures (for Routine Capital Expenditures contemplated by Section 9.2.1) as may be (a) mandatory or required by applicable Legal Requirements, or (b) highly recommended in Tenant’s commercially reasonable business judgment in order for Tenant to manage and operate the applicable Community to the Tenant’s Standards, or (c) desirable in Tenant’s commercially reasonable business judgment, in each case during the Term. The Capital Budget shall designate each proposed capital expenditure as either “mandatory”, “highly recommended” or “desirable”. An expenditure shall be considered “mandatory” if such expenditure is required by applicable Legal Requirements, or if such expenditure, if not made would, in Tenant’s commercially reasonable business judgment, (i) cause any Community to lose or put at risk its Licenses; (ii) place at risk the safety of a Resident or employee of any Community; (iii) cause the issuance of a formal notice that the Licenses for any Community, or any portion thereof, will be revoked or suspended or qualified in any material adverse respect; or (iv) subject Landlord or Tenant to civil or criminal prosecution, fine or Claim. Landlord may approve or reject, in its commercially reasonable, good faith discretion, each proposed capital expenditure, except those indicated as “mandatory”, provided that, if requested by Landlord, Tenant shall demonstrate to the commercially reasonable satisfaction of Landlord the “mandatory” nature of such capital expenditure.
Capital Expenditures Budget. A capital expenditures budget for the --------------------------- Borrower.
Capital Expenditures Budget. We expect to make investments in capital projects similar to the historical levels for Ducommun and XxXxxxx individually, as well as incremental investments in high return cost reduction projects slightly above recent historical levels. Our aggregate expected capital expenditure budget for the fiscal year ending December 31, 2011 is $18.7 million. The increase in capital expenditures in 2011 from 2010 is principally to support new contract awards at the Company, including those of XxXxxxx, offshore manufacturing expansion and integration of XxXxxxx’x operations into our business. We believe the ongoing subcontractor consolidation makes acquisitions an increasingly important component of our future growth. We will continue to make prudent acquisitions and capital expenditures for manufacturing equipment and facilities to support long-term contracts for both commercial and military aircraft programs. In addition, as part of our strategic direction in transitioning to a Tier 2 supplier additional up-front investment in tooling will be required for newer programs which have higher engineering content and higher levels of complexity in assemblies. We have made guarantees and indemnities under which we may be required to make payments to a guaranteed or indemnified party, in relation to certain transactions, including net sales transactions in the ordinary course of business. In connection with certain facility leases, we have indemnified our lessors for certain claims arising from the facility or the lease. We indemnify our directors and officers to the maximum extent permitted under the laws of the State of Delaware. However, we have a directors and officers insurance policy that may reduce our exposure in certain circumstances and may enable us to recover a portion of future amounts that may be payable, if any. The duration of the guarantees and indemnities varies and, in many cases, is indefinite but subject to statute of limitations. The majority of guarantees and indemnities do not provide any limitations of the maximum potential future payments we could be obligated to make. We estimate the fair value of our indemnification obligations as insignificant based on this history and insurance coverage and have, therefore, not recorded any liability for these guarantees and indemnities in the accompanying consolidated balance sheets. However, there can be no assurances that we will not have any future financial exposure under these indemnification obligations.
Capital Expenditures Budget. As soon as available and in any event no later than 30 days prior to each calendar quarter, (i) a budget ("Capital Expenditures Budget") of the Borrower's projected capital expenditures on a line item basis (categorized by project and including an overall amount for contingencies) for the six-month period beginning on the first day of such calendar quarter, and otherwise in a form and with amounts satisfactory to the Administrative Agent and the Majority Lenders (except that the first such report shall cover the eight-month period occurring from November 1, 2001 through June 30, 2002 and shall be delivered on the Fifth Amendment Effective Date), and (ii) a certificate of a Responsible Officer of the Borrower, which certificate shall state that such Capital Expenditures Budget was prepared in good faith and based on reasonable assumptions regarding the Borrower's capital expenditure requirements for such period."
(b) Section 8.03(a) of the Credit Agreement is hereby amended by deleting the last sentence thereof in its entirety and replacing it with the following: "The Borrower shall, within five Business Days following the Fifth Amendment Effective Date, obtain endorsements to such insurance policies naming "Union Bank of California, N.A., as Administrative Agent for the Beneficiaries" as joint loss payee and containing provisions that such policies will not be canceled without 30 days prior written notice having been given by the insurance company to the Administrative Agent."
(c) Section 8.07(a) of the Credit Agreement is hereby amended in its entirety to read as follows:
(a) As soon as available but in any event on or before June 1, September 1 and December 1 of each year, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report dated effective as of the immediately preceding April 1, July 1 or October 1, respectively, and as soon as available but in any event on or before March 15 of each year, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report dated effective as of the immediately preceding January 1. The Reserve Report dated effective as of January 1 of each year shall be prepared by Xxxxx Xxxxx Company, X.
X. Xxxxxxxx & Associates, Inc., or other certified independent petroleum engineers or other independent petroleum consultant(s) reasonably acceptable to the Administrative Agent and each of the Reserve Reports dated effective as of April 1, July 1 or October 1 shall be prepared by ...
