Common use of Capital Investment Treatment Clause in Contracts

Capital Investment Treatment. A. If a minimum capital investment in the Premises is set forth in Article 1. Concessionaire shall use due diligence to complete the approved project within the timeframe agreed upon by the Concessionaire and the Airport Concessions Department. Later remodeling shall be done as reasonably deemed necessary by the Board; however, work subsequent to that described in the first sentence hereof shall not be considered "Capital Investment" as defined in this Article, unless the project and capital dollars are first approved in writing by the Airport Concessions Department as qualifying for capital investment treatment. Capital investment cost estimates on new construction or remodeling as well as renderings of the project shall be first submitted to the Airport Concessions Department prior to construction or installation thereof. Capital investment costs shall be amortized on a straight-line basis over the remaining Term of this Lease excluding any option years. Title to all additions shall vest in the Board immediately upon installation by Concessionaire. The final cost of all items subject to amortization as defined in this Article, shall be certified to the Board by Concessionaire's Chief Financial Officer within ninety (90) days after installation on the Premises. Failure to timely file a Certification shall relieve the Board of any obligation on unamortized investments otherwise provided for in this Lease. B. Capital investment(s), and any obligation of the Board to Concessionaire for any unamortized capital investment as may be provided in this Lease, shall be defined and subject to the following conditions: Capital Investment dollars are those dollars spent in actual construction or remodeling as well as architectural and engineering fees relating thereto. Capital Investment dollars shall also include dollars paid to the Board or to a prior tenant of the space, in order to acquire a release of the space for Concessionaire's use. Capital Investment shall be reported to the Airport Concessions Department in written form provided by the Concessions Department itemizing each element of expense. Further, the report must clearly reflect the total capital investment claimed per location. The report shall be submitted within ninety (90) days of the completion of each project (each location being a separate project), and Concessionaire shall during the Term hereof and for a period of twelve (12) months following termination retain all records in support of each report. The Board shall have the right to audit each capital investment report at any time during the term of this Lease and for a period of twelve (12) months following termination. In the event of an audit, any itemization of capital investment costs not supported by proper documentation, such as invoice, receipts, canceled checks, shall be disallowed. Any obligation by the Board to pay unamortized capital investment after a termination without cause shall be based upon Concessionaire's timely submitted report as provided herein. C. Capital investment costs associated with each shop location shall be reasonable in scope and subject to Board audit. Any shop being remodeled or newly constructed shall be renovated or constructed only after Concessionaire submits to the Board the estimated cost of the capital investment.

Capital Investment Treatment. A. If a minimum capital investment in the Premises is set forth in Article 1. Concessionaire shall use due diligence to complete the approved project within the timeframe agreed upon by the Concessionaire and the Airport Concessions Department. Later remodeling shall be done as reasonably deemed necessary by the Board; however, work subsequent to that described in the first sentence hereof shall not be considered "Capital Investment" as defined in this Article, unless the project and capital dollars are first approved in writing by the Airport Concessions Department as qualifying for capital investment treatment. Capital investment cost estimates on new construction or remodeling as well as renderings of the project shall be first submitted to the Airport Concessions Department prior to construction or installation thereof. Capital investment costs shall be amortized on a straight-line basis over the remaining Term of this Lease excluding any option years. Title to all additions shall vest in the Board immediately upon installation by Concessionaire. The final cost of all items subject to amortization as defined in this Article, Article shall be certified to the Board by Concessionaire's Chief Financial Officer within ninety (90) days after installation on the Premises. Failure to timely file a Certification shall relieve the Board of any obligation on unamortized investments otherwise provided for in this Lease. B. Capital investment(s), ) and any obligation of the Board to Concessionaire for any unamortized capital investment as may be provided in this Lease, Lease shall be defined and subject to the following conditions: Capital Investment dollars are those dollars spent in actual construction or remodeling as well as architectural and engineering fees relating thereto. Capital Investment dollars shall also include dollars paid to the Board or to a prior tenant of the space, in order to acquire a release of the space for Concessionaire's use. Capital Investment shall be reported to the Airport Concessions Department in written form provided by the Concessions Department itemizing each element of the expense. Further, the report must clearly reflect the total capital investment claimed per location. The report shall be submitted within ninety (90) days of the completion of each project (each location being is a separate project), and Concessionaire shall during the Term hereof and for a period of twelve (12) months following termination retain all records in support of each report. The Board shall have the right to audit each capital investment report at any time during the term of this Lease and for a period of twelve (12) months following termination. In the event of an audit, any itemization of capital investment costs not supported by proper documentation, such as invoice, receipts, canceled checks, shall be disallowed. Any obligation by the Board to pay unamortized capital investment after a termination without a cause shall be based upon Concessionaire's timely submitted report as provided herein. C. Capital investment costs associated with each shop location shall be reasonable in scope and subject to Board audit. Any shop being remodeled or newly constructed shall be renovated or constructed only after Concessionaire submits to the Board the estimated cost of the capital investment.

Capital Investment Treatment. A. If a minimum capital investment in the Premises is set forth in Article 1. Concessionaire shall use due diligence to complete the approved project within the timeframe agreed upon by the Concessionaire and the Airport Concessions Department. Later remodeling shall be done as reasonably deemed necessary by the Board; however, work Work subsequent to that described in the first sentence hereof shall not be considered "Capital Investment" as defined in this Article, unless the project and capital dollars are first approved in writing by the Airport Concessions Department as qualifying for capital investment treatment. Capital investment cost estimates on new construction or remodeling as well as renderings of the project shall be first submitted to the Airport Concessions Department prior to construction or installation thereof. Capital investment costs shall be amortized on a straight-line basis over the remaining Term of this Lease Agreement excluding any option years. Title to all additions shall vest in the Board immediately upon installation by Concessionaire. The final cost of all items subject to amortization as defined in this Article, shall be certified to the Board by Concessionaire's Chief Financial Officer within ninety (90) days after installation on the PremisesAirport. Failure to timely file a Certification shall relieve the Board of any obligation on unamortized investments otherwise provided for in this LeaseAgreement. B. Capital investment(s), and any obligation of the Board to Concessionaire for any unamortized capital investment as may be provided in this LeaseAgreement, shall be defined and subject to the following conditions: Capital Investment dollars are those dollars spent in actual construction or remodeling as well as architectural and engineering fees relating thereto. Capital Investment dollars shall also include dollars paid to the Board or to a prior tenant of the space, in order to acquire a release of the space for Concessionaire's use. Capital Investment shall be reported to the Airport Concessions Department in written form provided by the Concessions Department itemizing each element of expense. Further, the report must clearly reflect the total capital investment claimed per location. The report shall be submitted within ninety (90) days of the completion of each project (each location being a separate project), and Concessionaire shall during the Term hereof and for a period of twelve (12) months following termination retain all records in support of each report. The Board shall have the right to audit each capital investment report at any time during the term of this Lease Agreement and for a period of twelve (12) months following termination. In the event of an audit, any itemization of capital investment costs not supported by proper documentation, such as invoice, receipts, canceled checks, shall be disallowed. Any obligation by the Board to pay unamortized capital investment after a termination without cause shall be based upon Concessionaire's timely submitted report as provided herein. C. Capital investment costs associated with each shop location shall be reasonable in scope and subject to Board audit. Any shop being remodeled or newly constructed shall be renovated or constructed only after Concessionaire submits to the Board the estimated cost of the capital investment.

Capital Investment Treatment. A. If a minimum capital investment in the Premises is set forth in Article 1. Concessionaire shall use due diligence to complete the approved project within the timeframe agreed upon by the Concessionaire and the Airport Concessions Department. Later remodeling shall be done as reasonably deemed necessary by the Board; however, work subsequent to that described in the first sentence hereof shall not be considered "Capital Investment" as defined in this Article, unless the project and capital dollars are first approved in writing by the Airport Concessions Department as qualifying for capital investment treatment. Capital investment cost estimates on new construction or remodeling as well as renderings of the project shall be first submitted to the Airport Concessions Department prior to construction or installation thereof. Capital investment costs shall be amortized on a straight-line basis over the remaining Term of this Lease excluding any option years. Title to all additions shall vest in the Board immediately upon installation by Concessionaire. The final cost of all items subject to amortization as defined in this Article, Article shall be certified to the Board by Concessionaire's Chief Financial Officer within ninety (90) days after installation on the PremisesthePremises. Failure to timely file a Certification shall relieve the Board of any obligation on unamortized investments otherwise provided for in this Lease. B. Capital investment(s), ) and any obligation of the Board to Concessionaire for any unamortized capital investment as may be provided in this Lease, Lease shall be defined and subject to the following conditions: Capital Investment dollars are those dollars spent in actual construction or remodeling as well as architectural and engineering fees relating thereto. Capital Investment dollars shall also include dollars paid to the Board or to a prior tenant of the space, in order to acquire a release of the space for Concessionaire's use. Capital Investment shall be reported to the Airport Concessions Department in written form provided by the Concessions Department itemizing each element of the expense. Further, the report must clearly reflect the total capital investment claimed per location. The report shall be submitted within ninety (90) days of the completion of each project (each location being is a separate project), and Concessionaire shall during the Term hereof and for a period of twelve (12) months following termination retain all records in support of each report. The Board shall have the right to audit each capital investment report at any time during the term of this Lease and for a period of twelve (12) months following termination. In the event of an audit, any itemization of capital investment costs not supported by proper documentation, such as invoice, receipts, canceled checks, shall be disallowed. Any obligation by the Board to pay unamortized capital investment after a termination without a cause shall be based upon Concessionaire's timely submitted report as provided herein. C. Capital investment costs associated with each shop location shall be reasonable in scope and subject to Board audit. Any shop being remodeled or newly constructed shall be renovated or constructed only after Concessionaire submits to the Board the estimated cost of the capital investment.

Capital Investment Treatment. A. If a minimum capital investment in the Premises is set forth in Article 1. Concessionaire shall use due diligence to complete the approved project within the timeframe agreed upon by the Concessionaire and the Airport Concessions Department. Later remodeling shall be done as reasonably deemed necessary by the Board; however, work subsequent to that described in the first sentence hereof shall not be considered "Capital Investment" as defined in this Article, unless the project and capital dollars are first approved in writing by the Airport Concessions Department as qualifying for capital investment treatment. Capital investment cost estimates on new construction or remodeling as well as renderings of the project shall be first submitted to the Airport Concessions Department prior to construction or installation thereof. Capital investment costs shall be amortized on a straight-line basis over the remaining Term of this Lease excluding any option years. Title to all additions shall vest in the Board immediately upon installation by Concessionaire. The final cost of all items subject to amortization as defined in this Article, shall be certified to the Board by Concessionaire's Chief Financial Officer within ninety (90) days after installation on the Premises. Failure to timely file a Certification shall relieve the Board of any obligation on unamortized investments otherwise provided for in this Lease. B. Capital investment(s), and any obligation of the Board to Concessionaire for any unamortized capital investment as may be provided in this Lease, shall be defined and subject to the following conditions: Capital Investment dollars are those dollars spent in actual construction or remodeling as well as architectural and engineering fees relating thereto. Capital Investment dollars shall also include dollars paid to the Board or to a prior tenant of the space, in order to acquire a release of the space for Concessionaire's use. Capital Investment shall be reported to the Airport Concessions Department in written form provided by the Concessions Department itemizing each element of expense. Further, the report must clearly reflect the total capital investment claimed per location. The report shall be submitted within ninety (90) days of the completion of each project (each location being a separate project), and Concessionaire shall during the Term hereof and for a period of twelve (12) months following termination retain all records in support of each report. The Board shall have the right to audit each capital investment report at any time during the term of this Lease and for a period of twelve (12) months following termination. In the event of an audit, any itemization of capital investment costs not supported by proper documentation, such as invoice, receipts, canceled checks, shall be disallowed. Any obligation by the Board to pay unamortized capital investment after a termination without cause shall be based upon Concessionaire's timely submitted report as provided herein. C. Capital investment costs associated with each shop location shall be reasonable in scope and subject to Board audit. Any shop being remodeled or newly constructed shall be renovated or constructed only after Concessionaire submits to the Board the estimated cost of the capital investment.ninety