Capital Improvement Account Sample Clauses

Capital Improvement Account. The Company Accounts will include a Capital Improvement Account, as further described and governed by the terms set forth in Section 2 of the Permitted Capital Improvement Addendum attached hereto as Annex V (and references in the Transaction Documents to this Section 12.13 will be deemed to include such Section 2 of the Permitted Capital Improvement Addendum).
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Capital Improvement Account. (a) Pursuant to the LLC Operating Agreement and the Custodial and Paying Agency Agreement, the Company has established the Capital Improvement Account to be maintained with the Paying Agent, for the purposes of holding the Capital Improvement Fund and funding Permitted Capital Improvement Expenses. Except as otherwise directed by the Manager, the Servicer will not cause (and will ensure that no Subservicer causes) funds from any other source (other than interest or earnings on the amount held therein) to be commingled in the Capital Improvement Account (it being understood that deposits into such Capital Improvement Account must be made only pursuant to the Custodial and Paying Agency Agreement, the LLC Operating Agreement and the Private Owner Interest Sale Agreement, as applicable). (b) Except as otherwise directed by the Manager, any and all amounts on deposit in the Capital Improvement Account (including any interest and earnings thereon) must be disbursed stricty in accordance with this Agreement (including the additional terms and conditions set forth in the Servicing Obligations) for payment of applicable Permitted Capital Improvement Expenses.
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Capital Improvement Account. The sub-account within the Trust that is primarily used to finance anticipated and periodic capital expenditures for the Treatment Systems.
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Capital Improvement Account a. [Operator] shall establish within the Trust a sub-account designated as the Capital Improvement Account. Assets of the Capital Improvement Account may be commingled with assets of the Primary Trust Account for purposes of investment, but must be accounted for and reported separately as if they are assets of a separate and distinct fund. b. On the date of this Consent Order and Agreement the required annual balance of the Capital Improvement Account for a 75 year period shall be determined and made a part of this agreement as Exhibit E. c. To determine the required balance in the Capital Improvement Account the following methodology shall be used. i. For each planned capital replacement component or activity, the current cost of that component or the cost to complete that activity will be determined. ii. For each planned capital replacement component or activity, the estimated number of years in the life cycle of the component or the number of years between when the activity is needed will be determined. iii. If the water treatment facility has been in operation for a significant period of time, then for each planned capital replacement component or activity, the estimated number of years until the next replacement or activity is needed will be determined. iv. For each planned capital replacement component or activity, the future value of the first replacement or activity will be calculated using a Present Value equal to the current cost, a rate of 3.1 percent, the amount of payment equal to $0.00, the number of payment periods equal to the number of years from the date of this agreement until the next replacement or activity, and a beginning of period payment. v. For each planned capital replacement component or activity, the Present Value will be calculated using the Future Value calculated in paragraph 10.c.iv. above, a rate equal to the assumed net rate of return used elsewhere in this agreement, and all other variables the same as used in paragraph 10.c.iv. above. vi. For each planned capital replacement component or activity, the Future Value of the second and each subsequent capital replacement or activity will be calculated using the same values as in paragraph 10.c.iv. above except the value for the number of payment periods. The value for the number of payment periods for the second replacement or activity will be equal to the number of years until the next replacement or activity plus the number of years in the expected life cycle as determine...
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Capital Improvement Account. Each Lease Year, LESSEE shall deposit a sum equal to seventy percent (70%) of the Gross Receipts collected between three hundred thousand ($300,000) and five hundred thirty thousand dollars ($530,000) to a separate account (the “Capital Improvement Account”) to be established by and in the name of the LESSEE for the purposes of funding capital improvements, repairs and replacements at the Villa Chanticleer (not just the Villa Property), and replacement of equipment at the Villa Property and the Villa Annex as provided in Section 2.08(A), above. At the end of the first Lease Year in which there are Gross Receipts which exceed $300,000, LESSEE shall provide CITY with proof of the establishment of such account and of the deposit of the required sum to such account. The funds in the Capital Improvement Account shall only be used by the LESSEE to fund replacement of equipment at the Villa Property and the Villa Annex and to make those capital improvements repairs and replacements at the Villa Chanticleer preapproved by the CITY (an “Authorized Expenditure”). Funds in the Capital Improvement Account may also be used to reimburse LESSEE for XXXXXX’s costs, including loan proceeds, which it has obtained preapproval for from the CITY and paid toward Authorized Expenditures prior to there being sufficient funds in the Capital Improvement Account for payment of such Authorized Expenditures. Funds in the Capital Improvement Account may also be used by the CITY, at its sole discretion, to replace equipment at the Villa Annex and to make capital improvements, repairs and replacements at the Villa Chanticleer and to reimburse CITY for CITY’s cost of making capital improvements, repairs and replacements at the Villa Chanticleer which work was effected after commencement of this Lease term but prior to there being sufficient funds in the Capital Improvement Account to pay for such expenditures.
Sample 1
Capital Improvement Account. On or before Xxxxx 0, 0000 Xxxxxx shall fund --------------------------- the Capital Improvement Account in the amount of $20,833, and on or before March 5 of each subsequent Fiscal Year of the Term, Tenant shall fund the Capital Improvement Account in the amount of $125,000 for such Fiscal Year. Tenant hereby grants to Landlord a security interest in the Capital Improvement Account. Tenant shall keep the Capital Improvement Account and all funds therein separate from Tenant's other accounts and funds. Tenant, Landlord and AGC shall enter into a separate agreement among themselves and the depository bank to effectuate such security interest which agreement shall specify, among other things, that no withdrawals can be made from such account without the signatures of one representative of Landlord, one representative of Tenant and one representative of AGC. Tenant shall upon Landlord's prior written consent, execute such other documents and instruments (such as UCC-1) as are necessary or appropriate to reflect or perfect Landlord's security interest. AGC may submit an annual detailed budget for capital improvements (collectively, "Capital AGC Expenditures") ------------------------ it proposes to make to the Leased Property, which budget will be subject to approval by Landlord and Tenant not to be unreasonably withheld or delayed (the "Approved Cap Ex Budget"). The Approved Cap Ex Budget shall set forth ---------------------- maximum line item allowances for each project category within the Approved Cap Ex Budget (each, a "Line Item Allowance"). AGC may use funds from the ------------------- Capital Improvement Account only to fund Capital Expenditures to the Facility. AGC may withdraw funds from Capital Improvement Account only: (i) to the extent consistent with the Approved Cap Ex Budget and within 110% of the amount specified in each Line Item Allowance or (ii) as otherwise approved in writing by Landlord and Tenant, which approval shall not to be unreasonably withheld or delayed. Tenant may not withhold approval of any Approved Cap Ex Budget or any proposed expenditure from the Capital Improvement Account on the sole basis that any amount so budgeted or proposed to be expended will not improve the financial performance of the Facility. All amounts in the Capital Improvement
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Capital Improvement Account. The General Partner shall establish a deposit account into which the General Partner will deposit a portion of the cash receipts of the Partnership from time to time to establish a reasonable reserve from which to fund capital improvements that may be required for the Commercial Properties. The amount of such reserve deposits relating to the Commercial Properties at the US Resorts will be settled annually in the Annual Plan and the amount thereof relating to the Commercial Properties at the Canadian Resorts will be settled annually in a consolidated annual plan with respect to such Commercial Properties approved by CNL LP and Intrawest, which Approval will not be unreasonably withheld (and for such purpose, any consolidated annual plan with respect to the Commercial Properties at the Canadian Resorts prepared by an Intrawest Manager will be deemed approved by Intrawest and any such plan approved by the Trust will be deemed approved by CNL LP), provided that such amounts shall, at a minimum, be as follows: 1% of budgeted gross Partnership lease revenues (“GPLR”) for each of the Fiscal Year beginning January 1, 2005 and the Fiscal Year beginning January 1, 2006, 2% of GPLR for each of the Fiscal Year beginning January 1, 2007 and the Fiscal Year beginning January 1, 2008, and 3% of GPLR for each Fiscal Year thereafter. To the extent that such reserve relates to the Commercial Properties at the Canadian Resorts, the Partnership will distribute any amount required by the Trust to fund capital improvements or reserves for capital improvements to the Partners in proportion to their Partnership Interests, subject to the commitment of the Partners to lend such amount, or cause an equal amount to be loaned, to the Trust for such purposes. CNL VILLAGE RETAIL PARTNERSHIP, LP 60
Sample 1
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Related to Capital Improvement Account

  • Capital Improvements From and after Final Completion, Tenant shall not replace or materially alter the Project, or any part thereof (except as provided to the contrary with respect to Fixtures in Article 13), or make any addition thereto, whether voluntarily or in connection with repairs required by this Lease (collectively, “Capital Improvements”), unless Tenant shall comply with the following requirements and, if applicable, with the additional requirements set forth in Section 11.10: (a) No Capital Improvements shall be undertaken, as applicable, until Tenant shall have procured from all Governmental Authorities and paid for all permits, consents, certificates and approvals for the proposed Capital Improvements which are required to be obtained prior to the commencement of the proposed Capital Improvements (collectively, “Improvement Approvals”). The FCRHA shall not unreasonably refuse to join or otherwise unreasonably refuse to cooperate in the application for any such Improvement Approvals, provided such application is made without cost, expense or liability (contingent or otherwise) to the FCRHA. True copies of all such Improvement Approvals shall be delivered by Tenant to the FCRHA prior to commencement of the proposed Capital Improvements. (b) The Premises after completion of such Capital Improvements, shall have a value at least equal to the value of the Premises immediately before construction of such Capital Improvements. In addition, the Project shall at all times remain in substantial conformity with the original Plans and Specifications therefor (except to the extent specifically consented to by the FCRHA, in its sole but reasonable discretion). (c) All Capital Improvements shall be made with reasonable diligence and continuity (subject to Unavoidable Delays) and in a good and workmanlike manner and in compliance with (i) all Improvement Approvals, (ii) if required pursuant to Section 11.10(a) or (b), in substantial accordance with the plans and specifications for such Capital Improvements as approved by the FCRHA, and (iii) all Applicable Laws. (d) No construction of any Capital Improvement shall be commenced until Tenant shall have delivered to the FCRHA certificates of insurance and copies of the declaration page(s) for the insurance required by Exhibit D. Such insurance policies shall comply with the terms of Section 7.02 above.

  • School Improvement 1. The Board and the Association agree that employee participation in decision making is effective in providing positive results for education. 2. The provisions contained in this section shall apply to all school improvement plans, programs or processes set forth by school improvement committees established in the Xxxxxxx-Xxxxxx School District as a result of Section 1277 of the Revised School Code. 3. It is understood that participation on school improvement committees is voluntary. Further, employees who participate, or are non-participants, in such activities shall not be negatively evaluated for any conduct relative to such committees. 4. In the event that any provision(s) of a school improvement plan, program or process or application thereof violates, contradicts, or is inconsistent with this Collective Bargaining Agreement, the Collective Bargaining Agreement shall prevail.

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively, the “Tenant Improvement Allowance Items”): 2.2.1.1 Payment of the fees of the “Architect” and the “Engineers,” as those terms are defined in Section 3.1 of this Tenant Work Letter, the costs of Tenant’s project manager (if any) and payment of the fees incurred by, and the cost of documents and materials supplied by, Landlord and Landlord’s consultants in connection with the preparation and review of the “Construction Drawings,” as that term is defined in Section 3.1 of this Tenant Work Letter; 2.2.1.2 The payment of plan check, permit and license fees relating to construction of the Tenant Improvements; 2.2.1.3 The cost of construction of the Tenant Improvements, including, without limitation, contractors’ fees and general conditions, testing and inspection costs, costs of utilities, trash removal, parking and hoists, and the costs of after-hours freight elevator usage. 2.2.1.4 The cost of any changes in the Base, Shell and Core work when such changes are required by the Construction Drawings (including if such changes are due to the fact that such work is prepared on an unoccupied basis), such cost to include all direct architectural and/or engineering fees and expenses incurred in connection therewith; 2.2.1.5 The cost of any changes to the Construction Drawings or Tenant Improvements required by applicable laws and building codes (collectively, “Code”); 2.2.1.6 Sales and use taxes; 2.2.1.7 The “Coordination Fee,” as that term is defined in Section 4.2.2.2 of this Tenant Work Letter; and 2.2.1.8 All other costs to be expended by Landlord in connection with the construction of the Tenant Improvements.

  • Improvement Plan A detailed, written plan collaboratively developed between the teacher and evaluator, utilized when a teacher receives an Evaluation Rating of ineffective. The approved form for the Improvement Plan is attached to this agreement as Appendix .

  • Additional Improvements Common Area Operating Expenses shall not include Real Property Taxes specified in the tax assessor's records and work sheets as being caused by additional improvements placed upon the Industrial Center by other lessees or by Lessor for the exclusive enjoyment of such other lessees. Notwithstanding Paragraph 10.1 hereof, Lessee shall, however, pay to Lessor at the time Common Area Operating Expenses are payable under Paragraph 4.2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations, Trade Fixtures or Utility Installations placed upon the Premises by Lessee or at Lessee's request.

  • Tenant Improvement Plans Any work proposed by Tenant (the “Tenant Improvements”) shall be subject to Landlord’s reasonable prior approval and shall be subject to the other terms and conditions of this Exhibit C; provided that it will be reasonable for Landlord to withhold its approval or consent (as and when applicable under this Exhibit C) if Landlord’s Mortgagee has not consented to the matter that is the subject of such approval or consent. All architectural, engineering and other design fees shall be paid by Tenant. Tenant shall use its architect, engineers and other design professionals, all of whom shall comply with any applicable licensing or governmental requirements of the City of Seattle and the State of Washington; Tenant’s architect shall be approved by Landlord (“Tenant’s Architect”), which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall also be entitled to receive a copy of the agreement between Tenant and Tenant’s Architect (the “Architect Agreement”). Tenant shall cause Tenant’s Architect to prepare a draft space plan (the “Space Plan”) for the Tenant Improvements and shall submit the proposed Space Plan to Landlord for the latter’s approval (not to be unreasonably withheld) in a time period to allow Tenant to timely complete its Tenant Improvements under this Lease. Landlord shall deliver to Tenant any written objections, questions or comments of Landlord with regard to the Space Plan within ten (10) business days of receipt; Landlord’s consent thereto shall be deemed given if not denied in writing within said ten (10) business day period. If Landlord denies its approval, it shall specify the reasons for doing so in detail. Tenant shall cause the Space Plan to be revised to address such written comments and shall resubmit said Space Plan to Landlord for approval. Such process shall continue until Landlord has approved the Space Plan. Tenant’s Architect shall then prepare working drawings and specifications for the Tenant Improvements, including architectural, structural, plumbing, mechanical, electrical, and fire protection drawings as required, suitable for permit application (the “Working Drawings”) and shall submit the proposed Working Drawings to Landlord for the latter’s approval in a time period to allow Tenant to timely complete its Tenant Improvements under this Lease. The Space Plan and Working Drawings shall be subject to Landlord’s approval, which Landlord agrees shall not be unreasonably withheld, conditioned, or delayed. Landlord shall not be deemed to have acted unreasonably if it withholds its approval thereof because, in Landlord’s reasonable opinion, the work, as described in any such item: (i) is likely to adversely affect Building Systems, the structure of the Building or the safety of the Building and/or their occupants; (ii) might impair Landlord’s ability to furnish services to Tenant or other tenants in the Building; (iii) would materially increase the cost of operating the Building; (iv) would violate any governmental laws, rules or ordinances (or interpretations thereof); (v) contains or uses hazardous or toxic materials or substances; (vi) would negatively affect the appearance of the Building; (vii) is reasonably likely to adversely affect another tenant’s premises; or (viii) is prohibited by any ground lease affecting the Building or any mortgage, trust deed or other instrument encumbering the Building. Landlord shall deliver to Tenant any written objections, questions or comments of Landlord with regard to the Working Drawings, within ten (10) business days of Landlord’s receipt of the Working Drawings; Landlord’s consent thereto shall be deemed given if not denied in writing within said ten (10) business day period. If Landlord denies its approval, it shall specify the reasons for doing so in detail. Tenant shall cause the Working Drawings to be revised to address such written comments and shall resubmit said Working Drawings to Landlord for approval. Landlord may, when approving the Tenant Improvement Plans, elect to require Tenant to remove any Non-Standard Improvements which are made to the Premises. If Landlord so elects, Tenant shall, at its own cost, restore the Premises to the condition designated by Landlord in its election, before the last day of the Term. Such process shall continue until both parties have approved the Working Drawings. Landlord’s approval of the Space Plan and/or the Working Drawings shall not be deemed any representation or warranty that the same comply with applicable codes.

  • Initial Improvements Subtenant may, at its option and subject to the provisions of the Prime Lease, including, without limitation, Article 8 thereof, complete certain initial improvements to prepare the Demised Premises for Subtenant’s occupancy thereof as described in the Work Letter Agreement attached hereto and made a part hereof as Exhibit B (the “Initial Improvements”), at Subtenant’s sole cost and expense without any contribution or improvement allowance from Sublandlord described in the Work Letter Agreement attached hereto and made a part hereof as Exhibit B); provided, however, Subtenant shall not make or permit anyone to make any Initial Improvements without the prior written consent of Sublandlord, which shall not be unreasonably withheld or delayed, and of Prime Landlord in accordance with the Prime Lease. In connection with the foregoing, Subtenant shall submit to Sublandlord, for prior written approval by Sublandlord, which shall not be unreasonably withheld or delayed, and Prime Landlord, complete plans and specifications for any and all Initial Improvements; including, without limitation, schematic designs and work drawings. Any and all costs and expenses associated with the acquisition of cabling, equipment, furniture, security systems, or other personal property for Subtenant or the Demised Premises or the installation or placement of any of the foregoing within the Demised Premises or with the project management for the performance of the Initial Improvements (collectively, “Subtenant’s Personal Property and Services”), shall be paid for by and be the sole responsibility of Subtenant. Sublandlord acknowledges and agrees that Subtenant shall not be required to remove any Initial Improvements upon the expiration or earlier termination of this Sublease unless the removal is required by Prime Landlord or Sublandlord is otherwise obligated to pay Prime Landlord the costs of any removal of any Initial Improvements pursuant to Section 8(e) of the Prime Lease.

  • Disbursement of the Tenant Improvement Allowance Except as otherwise set forth in this Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord (each of which disbursements shall be made pursuant to Landlord’s disbursement process, which disbursement process shall require the Architect to make field verifications and written certifications as required by Landlord in connection with Landlord’s disbursements to Contractor (as defined below)) only for the following items and costs (collectively the “Tenant Improvement Allowance Items”): (a) Payment of (i) the fees of the Architect and the Engineers (as defined below), (ii) charges for Landlord’s construction consultant and Building engineer, and (iii) the fees incurred by, and the cost of documents and materials supplied by, Landlord and Landlord’s consultants in connection with the preparation and review of the Construction Drawings (as defined below); (b) The payment of plan check, permit and license fees relating to construction of the Tenant Improvements; (c) The cost of construction of the Tenant Improvements, including, without limitation, any cost of after-hours freight elevator usage; (d) The cost of any changes in the Base, Shell, and Core when such changes are required by the Construction Drawings, such cost to include all direct architectural and/or engineering fees and expenses incurred in connection therewith; (e) The cost of any changes to the Construction Drawings or Tenant Improvements required by applicable laws and building codes (collectively, “Code”); (f) Sales and use taxes; and (g) All other costs to be expended by Landlord in connection with the construction of the Tenant Improvements. In no event shall the Tenant Improvement Allowance Items include any costs of procuring or installing in the Premises any trade fixtures, equipment, furniture, furniture partitions or systems, furnishings, telephone, telecommunications, data and security wiring, cabling and equipment, or other personal property (“Personal Property”) to be used in the Premises by Tenant, and the cost of such Personal Property shall be paid by Tenant.

  • Notice to Proceed - Site Improvements The Recipient shall not commence, or cause to be commenced, any site improvements or other work on the Land until the Director has issued a Notice to Proceed to the Recipient. Such Notice to Proceed will not be issued until the Director is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and has completed any land acquisition required by the Project. A Notice to Proceed shall be required for all Project prime contractors or direct procurement initiated by the Recipient following execution of this Agreement.

  • Disbursement of Tenant Improvement Allowance During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows.

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