Capital Repairs. Any OMS Costs which are customarily characterized as capital in nature under generally accepted accounting principals or which have a useful life longer than one year are referred to herein as "Capital Repairs". The cost of Capital Repairs (which shall include all of Multilayer's out of pocket costs of performing the Capital Repairs, including soft costs and permit fees) shall be amortized (using an interest rate of ten percent (10%)) over the useful life of such repair, and Konarka shall be required to reimburse Multilayer only for the amortization thereof that relates to the term of this Agreement, multiplied by the applicable Allocation Ratio. Capital Repairs shall be performed by Multilayer only to the extent required by law, or otherwise if reasonably required to keep the Thermal Energy Plant in good working order throughout the Term hereof. Multilayer shall use reasonable efforts to perform Capital Repairs at a commercially reasonable cost. Multilayer shall deliver to Konarka a statement of the cost of any Capital Repair and the amortization thereof within thirty (30) days of the date the Capital Repair was completed. During each month during the term hereof that there is outstanding amortization for a Capital Repair, said amortization shall be multiplied by the applicable Allocation Ratio for such month and the product thereof shall be paid at the same time that payments for other OMS Costs are due hereunder, commencing on the date the Capital Repair is completed, and prorated for any partial months. By way of example, assuming a Capital Repair with a cost of $100,000, a useful life of ten years, and an Allocation Ratio for a particular month during the term hereof of .8, Tenant would pay Landlord $1057.21 for that month. If the Allocation Ratio in the following month were .7, then Tenant would pay $925.06 for such month. 11-12-08
Capital Repairs. Notwithstanding anything to the contrary contained herein, if Tenant (A) determines in its reasonable, good faith discretion that (1) a component of Tenant’s maintenance and repair obligations under Section 11.3, excluding repair, maintenance or replacement of any of Tenant Changes, (a “Tenant Work Component”), is in such a condition that a repair or replacement is required and (2) such repair or replacement of an individual Tenant Work Component constitutes a capital repair or capital improvement in accordance with standard accounting principles generally followed by the commercial real estate industry in Santa Xxxxx County, CA, consistently applied (a “Tenant Work Component Capital Repair”), and (B) desires to have Landlord perform such Tenant Work Component Capital Repair, then Tenant shall provide Landlord a reasonable prior written notice (a “Capital Repair Notice”), which Capital Repair Notice shall include or otherwise be accompanied by the following: (I) a written report from a reputable third-party physical inspection firm (which firm Landlord must have reasonably approved to prepare such report prior to commencing its work), detailing the reasons that such firm believes such Tenant Work Component Capital Repair is required, and (II) a request for Landlord to perform such Tenant Work Component Capital Repair. Notwithstanding the foregoing, Landlord shall have no obligation to perform any Tenant Work Component Capital Repair that is primarily caused by Tenant’s failure to maintain the applicable Tenant Work Component in accordance with Section 11.3. Upon receipt of a Capital Repair Notice, Landlord will perform the Tenant Work Component Capital Repair with reasonable promptness and the cost incurred by Landlord shall be amortized by Landlord over the useful life of such Tenant Work Component Capital Repair as reasonably estimated by Landlord in accordance with standard accounting principles generally followed by the commercial real estate industry in Santa Xxxxx County, CA, consistently applied, and the total amortized cost for the remaining term of the Lease shall be payable in a lump sum within thirty (30) days of Tenant’s receipt of invoice from Landlord by Tenant.
Capital Repairs. Notwithstanding anything to the contrary contained in this Lease except for repairs and other work contemplated by sections 7.1(c) and (e) and Article 9, to the extent that the cost of any repair or replacement to the Premises constitute a capital cost in accordance with generally accepted accounting principles, the Landlord shall make such repairs or replacements, provided that all such repairs or replacements shall be consistent with the existing building standard and with the general standards of industrial buildings of similar age, character and location in the city in which the Building is located. The cost of such repair or replacement shall be amortized over the useful life expectancy of the asset repaired or replaced on a straight line basis and the Tenant shall pay to the Landlord in each year of the Term the amortized amount of such cost within thirty (30) days after receipt of an invoice therefor from the Landlord. Any replacement or repair to the Structure of the Building, replacement of any of the base building systems servicing the Building and replacement of asphalt or other paving shall constitute a capital cost.
Capital Repairs. Routine Maintenance shall include, but shall not be limited to, the following:
Capital Repairs. During the Term, the Lessee shall not, subject to ordinary wear and tear, do or suffer any waste or damage, disfigurement or injury to the Baseball Facility. Except as otherwise provided herein, Gateway shall perform or cause to be performed all Capital Repairs required during the Term, at Gateway's expense. All work related to any Capital Repair shall be done in a good workmanlike manner. Gateway hereby agrees to indemnify, defend and hold the Lessee harmless from and against all costs and expenses (including attorneys' fees) arising out of Gateway's failure to perform such Capital Repairs.
Capital Repairs. (xii) its proportionate share of the costs of maintenance, repairs or replacements to items of a capital or structural nature which by their nature require periodic maintenance, repair or replacement or the purpose of which is to reduce the operating costs of the Development. The Lessor may in the alternative, at its discretion exercised reasonably, amortize the costs of these hems over the estimated life of the item repaired or replaced and the Lessee shall in addition pay interest on the unamortized cost at the rate of two (2) percentage points over the prime lending rate of the Lessor’s Bank; and Administrative
Capital Repairs. 40 10.5 Lessee's Self-Help............................................ 40
Capital Repairs. Capital Repairs shall be the responsibility of the County and shall be procured through application of Applicable Law. The Company may, at the County’s request, act as the County’s agent for procurement of the Capital Repair, and, if the Company otherwise seeks to self-perform the work, may propose or bid as otherwise required pursuant to GML 103. The Company shall be responsible to notify the County of the need for any Capital Repair associated with preventative or predictive maintenance consistent with Prudent Industry Practices.
Capital Repairs i. WTC to establish a sinking fund to assist the funding of capital repairs. A minimum balance and annual contribution to the sinking fund will be agreed between WTC and SLDC.
Capital Repairs. (i) Notwithstanding anything to the contrary contained herein, if Tenant (A) determines in its reasonable, good faith discretion that (1) a component of Tenant’s maintenance and repair obligations under this Section 9, excluding repair, maintenance or replacement of Tenant’s Specialized Equipment (a “Tenant Work Component”), is in such a condition that a repair or replacement is required and (2) such repair or replacement of an individual Tenant Work Component constitutes a capital repair or capital improvement in accordance with U.S. GAAP (a “Tenant Work Component Capital Repair”), and (B) desires to have Landlord perform such Tenant Work Component Capital Repair, then Tenant shall provide Landlord a reasonable prior written notice (a “Capital Repair Notice”), which Capital Repair Notice shall include or otherwise be accompanied by the following: (I) a written report from a reputable third-party physical inspection firm (which firm Landlord must have reasonably approved to prepare such report prior to commencing its work), detailing the reasons that such firm believes such Tenant Work Component Capital Repair is required, and (II) a request for Landlord to perform such Tenant Work Component Capital Repair. Notwithstanding the foregoing, Landlord shall have no obligation to perform any Tenant Work Component Capital Repair that is primarily caused by Tenant’s failure to use or maintain the applicable Tenant Work Component in accordance with this Section 9.
