Common use of Capital Repairs Clause in Contracts

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. 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. Any OMS Costs which Tenant hereby warrants and represents that it has inspected the Premises and that it knows of no capital repairs that 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"presently necessary. The cost term “Capital Repair” is agreed to mean the repair or replacement of a major component or structural part of the Premises and shall also include the rebuilding of a major component or structural part of the Premises after the end of its useful life. Based on the information acquired in its inspection, together with its historic use of the Premises, Tenant represents that it has no actual knowledge that any 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 will be required to reimburse Multilayer only for during the amortization thereof that relates Initial Term or if the Lease is renewed, during any Renewal Term. In the event any Capital Repairs to the term of this AgreementPremises are reasonably necessary during the Term and Tenant does not wish to make such Capital Repair at Tenant’s sole expense, multiplied by the applicable Allocation Ratio. Capital Repairs Tenant shall be performed by Multilayer only so advise Landlord in writing and Landlord may, in its sole discretion, elect to the extent required by lawmake, or otherwise if not to make, such Capital Repair. Notwithstanding the foregoing, Tenant agrees that whenever it determines that it is reasonably required possible to keep make a temporary repair or patch and defer 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 need for a Capital Repair, said amortization it shall make such temporary patch or replacement. In the event Landlord elects not to make any Capital Repairs, Tenant shall have the right, but not the obligation to make such repairs at its own expense. Tenant acknowledges and agrees that even if Tenant determines it is unable to occupy the Premises due to the condition of the Building or the Premises, all of its rent payments shall continue to be multiplied by non-refundable even if Tenant determines that it could occupy the applicable Allocation Ratio for such month and Building or 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 Premises if a Capital Repair was made. Notwithstanding the foregoing, Landlord and Tenant agree that in the event of a casualty loss or event (hereinafter “Casualty”) causing material physical damage to the Premises or Building for which there is insurance coverage as determined by the insurer issuing the applicable policy of insurance, that subject to and conditioned upon any requirements or conditions imposed by Landlord’s lender (including, without limitation, any restrictions or conditions on disbursement of insurance payments or proceeds), funds paid by an insurer with a respect to such Casualty shall be released to fund the cost of $100,000a Capital Repair resulting from such Casualty, a useful life upon such terms as shall be reasonably acceptable to Landlord and provided that Landlord shall not be required to make any payment 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 any kind toward such month. 11-12-08Capital Repair.

Capital Repairs. Any OMS Costs which Tenant hereby warrants and represents that it has inspected the Premises and that it knows of no capital repairs that 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"presently necessary. The cost term “Capital Repair” is agreed to mean the repair or replacement of a major component or structural part of the Premises and shall also include the rebuilding of a major component or structural part of the Premises after the end of its useful life. Based on the information acquired in its inspection, together with its historic use of the Premises, Tenant represents that it has no actual knowledge that any 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 will be required to reimburse Multilayer only for during the amortization thereof that relates Initial Term or if the Lease is renewed, during any Renewal Term. In the event any Capital Repairs to the term of this AgreementPremises are reasonably necessary during the Term and Tenant does not wish to make such Capital Repair at Tenant’s sole expense, multiplied by the applicable Allocation Ratio. Capital Repairs Tenant shall be performed by Multilayer only so advise Landlord in writing and Landlord may, in its sole discretion, elect to the extent required by lawmake, or otherwise if not to make, such Capital Repair. Notwithstanding the foregoing, Xxxxxx agrees that whenever it determines that it is reasonably required possible to keep make a temporary repair or patch and defer 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 need for a Capital Repair, said amortization it shall make such temporary patch or replacement. In the event Landlord elects not to make any Capital Repairs, Tenant shall have the right, but not the obligation to make such repairs at its own expense. Xxxxxx acknowledges and agrees that even if Xxxxxx determines it is unable to occupy the Premises due to the condition of the Building or the Premises, all of its rent payments shall continue to be multiplied by non-refundable even if Tenant determines that it could occupy the applicable Allocation Ratio for such month and Building or 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 Premises if a Capital Repair was made. Notwithstanding the foregoing, Landlord and Tenant agree that in the event of a casualty loss or event (hereinafter “Casualty”) causing material physical damage to the Premises or Building for which there is insurance coverage as determined by the insurer issuing the applicable policy of insurance, that subject to and conditioned upon any requirements or conditions imposed by Landlord’s lender (including, without limitation, any restrictions or conditions on disbursement of insurance payments or proceeds), funds paid by an insurer with a respect to such Casualty shall be released to fund the cost of $100,000a Capital Repair resulting from such Casualty, a useful life upon such terms as shall be reasonably acceptable to Landlord and provided that Landlord shall not be required to make any payment 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 any kind toward such month. 11-12-08Capital Repair.

Capital Repairs. Any OMS Costs (a) The following terms and conditions shall govern Capital Repairs required during the Term: The Tenant may provide the Landlord with a written report respecting proposed Capital Repairs from an architect, engineer or other qualified professional, 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 report will include: (i) the details of Capital Repairs that the professional recommends be made which relate to an item for which the useful lifespan shall expire after the end of the Term such that the cost of said Capital Repairs will take more time to amortize than the number of years remaining in the Term; (which shall include all ii) the estimated cost of Multilayer's out of pocket costs of performing the such Capital Repairs; and (iii) the expected economic life of the replaced or repaired unit, including soft costs and permit fees) equipment or other item, as the case may be; Provided the Landlord, acting reasonably, agrees with the recommendation of the professional in the report, within ten days from receipt of such documentation by the Landlord, the parties will prepare a schedule of monthly amortization (the “Amortization Schedule”), in such a manner that the total cost of said work shall be amortized (using an interest rate of ten percent (10%)) in a straight line, over the estimated useful life lifespan of such repairthe item in question (the “Amortization Period”), with interest on the unamortized capital cost at the Interest Rate (the annual amount of capital and Konarka interest obtained and shown in the Amortization Schedule shall be referred to collectively as the “Amortization Factor”); Thereafter the Landlord shall advance the cost of work as required to complete the Capital Repairs and the Tenant shall pay to the Landlord, as Operating Costs, the Amortization Factor, as per the schedule agreed upon between the Landlord and the Tenant, during the balance of the Term and during any period the Tenant remains on the Property or any part thereof after the expiration or other termination of the Term in accordance with Section 18.3; and The parties shall collaborate together in good faith and where the situation dictates it, they shall make all adjustments to the above process as may be required to reimburse Multilayer only for the amortization thereof that relates give force 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 spirit and intention 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. 11-12-08foregoing principles.