Capital Leases Clause Samples
The Capital Leases clause defines how leases that are classified as capital leases (now often referred to as finance leases) are treated under the agreement. It typically outlines the criteria for identifying a lease as a capital lease, such as whether the lessee assumes the risks and rewards of ownership, and may specify how such leases are reported in financial statements or how related obligations are handled. This clause ensures that both parties have a clear understanding of their financial responsibilities and reporting requirements regarding leased assets, thereby promoting transparency and preventing disputes over accounting treatment.
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Capital Leases. The board of visitors shall authorize the initiation of capital leases pursuant to the authorization process included in the Policy Governing Capital Projects (Exhibit A) adopted by the board as part of the management agreement between the Commonwealth and the University.
Capital Leases. It will comply with FTA regulations, “Capital Leases,” 49 C.F.R. part 639, and
Capital Leases. No Covered Person has an interest as a lessee under any Capital Leases other than Capital Leases that are Permitted Indebtedness.
Capital Leases. Debt under capital leases of the type described in Section 8.2.5;
Capital Leases. All Capital Leases shall be paid in full and the personal property subject thereto shall be conveyed to the Company free and clear of Encumbrances.
Capital Leases. To the extent applicable, the Recipient agrees to comply with FTA regulations, “Capital Leases,” 49 C.F.R. Part 639, and any revision thereto.
Capital Leases. For the avoidance of doubt, notwithstanding anything to the contrary contained in Section 1.03(a) or in the definition of “Capitalized Lease,” any obligations relating to a lease that is accounted for by Borrower or any of its Subsidiaries as an operating lease in accordance with GAAP (as in effect on December 31, 2018 (including the adoption of Financial Accounting Standards Board Accounting Standards Codification 842) shall not constitute Indebtedness of Borrower or such Subsidiary and all calculations and deliverables under this Agreement or any other Loan Document shall be made or delivered, as applicable, in accordance with the foregoing.
Capital Leases. Capital Leases of the Company and its Subsidiaries will not, at any time, exceed in the aggregate (i) U.S.$90,000,000 (or its equivalent in any other currency) plus (ii) at all times after the later to occur of June 30, 2012 or the Release Date pursuant to clause (b) of the definition thereof, such amounts as the Company and its Subsidiaries are permitted to have outstanding pursuant to Section 10.4 hereof.
Capital Leases. Contributor shall reduce the aggregate amount of “capitalized lease obligations” (as defined in the Partnership Debt Documents) held by Kemmerer to no more than $12,000,000 as of the Closing Date.
Capital Leases. To the extent applicable, the Grantee agrees to comply with FTA regulations, "Capital Leases," 49 C.F.R. Part 639, and any revision thereto.