Capital Repairs. OMS Costs which are customarily characterized as capital in nature under generally accepted accounting principals are referred to herein as "Capital Repairs". The cost of Capital Repairs (which shall include all of Lxxxxxx'x out of pocket costs of performing the Capital Repairs, including soft costs and permit fees) shall be amortized (using an interest rate of the lesser of Lxxxxxx'x actual cost or ten percent (10%)) over the useful life of such repair, and Multilayer shall be required to reimburse Lxxxxxx 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 Lxxxxxx only to the extent required by law, or otherwise if reasonably required to keep the Thermal Energy Plant in the same working order as it currently is in throughout the Term hereof. Lxxxxxx shall use reasonable efforts to perform Capital Repairs at a commercially reasonable cost. Lxxxxxx shall deliver to Multilayer 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, an interest rate of ten percent (10%) and an Allocation Ratio for a particular month during the term hereof of .2, Multilayer would pay Lxxxxxx $264.30 for that month. If the Allocation Ratio in the following month were .1, then Multilayer would pay $132.15 for such month. Notwithstanding the foregoing, Multilayer shall have no obligation to pay for any amortization of Capital Repairs so long as the Lease is in effect and the owner of the fee interest in the Multilayer Property and the Thermal Energy Plant are the same. Further, so long as the Lease is in effect, Lxxxxxx shall not be permitted to perform or charge Multilayer for Capital Repairs (or Capital Repairs and Replacements, as defined in the Lease) except as permitted by the Lease.
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. 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.
Capital Repairs. The Parties agree that the Landlord shall be responsible for any capital repairs to the primary structure of the Demised Premises, including repairs to the roof, windows, exterior walls, heating systems, fire suppression systems, below ground water systems and sewer system, provided that said capital repairs are not the result of any actions or inactions by the Tenant which resulted in the need for said capital repairs to the Demised Premises. Regarding the heating system, preventative maintenance of the system shall be the responsibility of the Landlord. Tenant shall only use a contractor expressly approved by the Landlord for the required repairs of the heating system at its expense. Extensive repairs over Two Thousand Dollars ($2,000.00) or replacement of the boiler shall be considered a Landlord capital repair as stated below
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. 40 10.5 Lessee's Self-Help............................................ 40
Capital Repairs 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
Capital Repairs. If the Manager determines that a Participating Unit requires repair or replacement of Capital Items, the Manager will provide the Participating Owner with the estimated cost. If approval is not provided with two weeks of the request, the Participating Unit will be immediately withdrawn from the Rental Pool. If the capital item requiring replacement is a refrigerator or stove, the Manager is permitted to immediately replace it and advise the Participating Owner of same. The Participating Owner must pay all capital repair or replacement invoices within 2 weeks of receipt of same.
Capital Repairs. The parties acknowledge that Seller is responsible for Capital Repairs under the Leases (as such term is defined in the Leases) and that the expenses for unpaid Capital Repairs set forth and described on SCHEDULE 9.3 hereto shall be credited to Purchaser hereunder.
