Capital Expenditures Covenant. The Consolidated Entities shall not make Capital Expenditures, exclusive of curriculum development costs, in excess of (i) $11,000,000.00 for Borrower’s fiscal year ending on August 31, 2007 and (ii) $8,000,000.00 for each fiscal year of Borrower thereafter. Maximum Capital Expenditures for Reporting Period: $ Actual Capital Expenditures for Reporting Period: $ In Compliance: Yes ¨ No ¨ N/A ¨
Capital Expenditures Covenant. The Borrower and its Subsidiaries shall not make or incur, or permit to be made or incurred, Consolidated Capital Expenditures in aggregate exceeding $250,000,000 in any fiscal year, provided, however, that to the extent that actual Consolidated Capital Expenditures for any such fiscal year shall in the aggregate be less than $250,000,000 for such fiscal year (without giving effect to the carryover permitted by this proviso), 100% of the difference between $250,000,000 and such actual Consolidated Capital Expenditures shall, in addition, be available for incurrence of Consolidated Capital Expenditures in the next succeeding fiscal year. In addition, the Borrower and its Subsidiaries shall be permitted to make or incur Consolidated Capital Expenditures in an aggregate amount not to exceed $175,000,000 solely for the purposes of providing facilities which are necessary to the fulfillment by the Borrower and its Subsidiaries of new or additional services to be provided under any contract entered into by the Borrower or any of its Subsidiaries with the Centers for Medicare and Medicaid Services (or another equivalent federal governmental agency, or its designee) on or after the Closing Date to provide prescription drug benefit management services for Medicare eligible persons. For the purposes of calculating Consolidated Capital Expenditures under this paragraph (c), the following shall not be included: (i) Consolidated Capital Expenditures to the extent financed with the Net Cash Proceeds of Asset Sales and proceeds of casualty insurance policies and condemnation awards (in each case to the extent permitted to be so applied pursuant to Section 2.10(b)) and (ii) Investments constituting acquisitions of any Acquired Business made pursuant to Section 6.04(p).
Capital Expenditures Covenant. The text of §11.3 of the Credit Agreement is hereby amended to read as follows: "The Borrowers will not make, or permit any Non-Excluded Subsidiary of a Borrower to make, Capital Expenditures in any fiscal quarter of the Company ending on any fiscal quarter end date listed in the table set forth below to exceed the maximum amount set forth opposite such fiscal quarter end date in such table (for each such fiscal quarter, the "Basic Quarterly Amount"): Fiscal Quarter Ending Maximum Amount April 30, 2002 $ 6,000,000 July 31, 2002 $ 3,500,000 October 31, 2002 $ 3,000,000 January 31, 2003 $ 2,000,000 ; provided, however, that Capital Expenditures in respect of the U.S. Logistics Project made during the fiscal year ending January 31, 2003 shall be excluded from the determination of compliance with the foregoing limitation on Capital Expenditures to the extent actually financed by permitted Indebtedness incurred pursuant to §10.1(g) hereof; and further provided, if during any such fiscal quarter the permitted Basic Quarterly Amount of Capital Expenditures is not so utilized, such unutilized amount (each being referred to as an "Unspent Quarterly Amount") may be utilized in (but only in) the period of the immediately subsequent two fiscal quarters and not thereafter (and in any event not beyond the fiscal quarter ending January 31, 2003); in any such applicable subsequent fiscal quarter into which such Unspent Quarterly Amount is so carried, actual Capital Expenditures made in such fiscal quarter shall be deemed to have been made first from (and to utilize) the applicable Unspent Quarterly Amounts carried over into such fiscal quarter from the applicable prior fiscal quarter(s), and then to have been made from (and to utilize) the applicable Basic Quarterly Amount for such fiscal quarter permitted by the foregoing table; and in any event the applicable Unspent Quarterly Amount to be carried over from any fiscal quarter listed in the table above shall not exceed the Basic Quarterly Amount for the applicable fiscal quarter in which such Unspent Quarterly Amount arises. The Borrowers will not make, or permit any Non-Excluded Subsidiary of a Borrower to make, Capital Expenditures in any fiscal year of the Company ending on or after January 31, 2004 that exceed, in the aggregate (for the Borrowers and all Non-Excluded Subsidiaries), the amount (for each fiscal year, the "Basic Amount") equal to $25,000,000; provided, however, that (i) the foregoing limitation on Capit...
Capital Expenditures Covenant. Effective on the Effective Date, the dollar amount which appears in section 9.9 of the Credit Agreement is changed from $1,000,000 to $2,000,000.
Capital Expenditures Covenant. Section 6.12 of the Credit Agreement is amended by (i) deleting the reference therein to “$340,000,000”, and substituting therefor a reference to “$515,000,000”; (ii) deleting the reference therein to “$400,000,000”, and substituting therefor a reference to “$525,000,000”; and (iii) inserting immediately after the words “provided that,” the following:
Capital Expenditures Covenant. Section 9.18 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
Capital Expenditures Covenant. Permit the aggregate amount of Capital Expenditures incurred in any Fiscal year to exceed $25,000,000, provided, however, that if Borrowers expend less (a “Capital Expenditures Savings”) than $25,000,000 on Capital Expenditures in any Fiscal Year, such Capital Expenditure Cap in the next Fiscal Year shall equal the lesser of (i) $25,000,000 plus the amount of the previous Fiscal Year’s Capital Expenditures Savings or (ii) $28,000,000.
Capital Expenditures Covenant. Borrower and Guarantors shall not permit the aggregate amount of all Capital Expenditures of Borrower and Guarantors during any fiscal quarter to exceed the amount indicated for such fiscal quarter set forth on Schedule 7.19 hereto; provided, that, (a) in the event that the actual amount of Capital Expenditures of Borrower and Guarantors during any fiscal quarter are less than the amount permitted hereunder for such fiscal quarter, Capital Expenditures may be made in any of the next three (3) consecutive fiscal quarters immediately thereafter in the amount of such excess, provided, that, such excess amount shall only be used for Capital Expenditures in any of such subsequent three (3) consecutive fiscal quarters, if after giving effect to the payment thereof, there is Excess Availability (as defined in the Congress Loan Agreement as in effect on the date of this Loan Agreement) of not less than $20,000,000 and (b) the limitation on the Capital Expenditures of Borrower and Guarantors shall only apply in any fiscal quarter if at any time during the immediately preceding quarter, Excess Availability (as defined in the Congress Loan Agreement as in effect on the date of this Loan Agreement) was less than $30,000,000. 60
Capital Expenditures Covenant. The Borrower and its Subsidiaries shall not make or incur, or permit to be made or incurred, Consolidated Capital Expenditures in aggregate exceeding $250,000,000 in any fiscal year, provided, however, that to the extent that actual Consolidated Capital Expenditures for any such fiscal year shall in the aggregate be less than $250,000,000 for such fiscal year (without giving effect to the carryover permitted by this proviso), 100% of the difference between $250,000,000 and such actual Consolidated Capital Expenditures shall, in addition, be available for incurrence of Consolidated Capital Expenditures in the next succeeding fiscal year. In addition, the Borrower and its Subsidiaries shall be permitted to make or incur Consolidated Capital Expenditures in an aggregate amount not to exceed $175,000,000 solely for the purposes of providing facilities which are necessary to the fulfillment by the Borrower and its Subsidiaries of new or additional services to be provided under any contract entered into by the Borrower or any of its Subsidiaries with the Centers for Medicare and Medicaid Services (or another equivalent federal governmental agency, or its
Capital Expenditures Covenant. Section 11.3 of the Credit ----------------------------- Agreement is hereby amended by deleting the caption heading and text thereof in their entirety and replacing such deleted caption heading and text with the following:
