Capital Spending Clause Samples

Capital Spending. Borrower will not make Capital Expenditures during any fiscal year from any source of funds available, which exceed $3,000,000.00 in the aggregate, except for 2014 fiscal year, when Borrower may make Capital Expenditures which do not exceed $9,000,000.00 in the aggregate. Capital Expenditures shall include capital leases.

Capital Spending. Borrower will not make Capital Expenditures during fiscal year 2008, from any source of funds available, in excess of $2,000,000.00 in the aggregate. For fiscal year 2009 and thereafter, Capital Expenditures are not to exceed $500,000.00 per year in the aggregate. Borrower hereby represents and warrants to the Lender that, after giving effect to this Amendment, (i) no Default or Event of Default exists under the Credit Agreement or any of the other Loan Documents and (ii) the representations and warranties set forth in the Credit Agreement are true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date). Borrower hereby ratifies the Credit Agreement as amended and acknowledges and reaffirms (i) that it is bound by all terms of the Credit Agreement applicable to it and (ii) that it is responsible for the observance and full performance of its respective obligations. Borrower hereby certifies that the person(s) executing this Amendment on behalf of Borrower is/are duly authorized to execute such document on behalf of Borrower and that there have been no changes in the name, ownership, control, organizational documents, or legal status of the Borrower since the last application, loan, or loan servicing action; that all resolutions, powers and authorities remain in full force and effect, and that the information provided by Borrower is and remains true and correct. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute one and the same agreement. Delivery of executed counterparts of this Amendment by telecopy shall be effective as an original and shall constitute a representation that an original shall be delivered. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEBRASKA. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

Capital Spending. Each annual budget and annual capital spending plan for FPII and the Company and for any amounts proposed to be spent in any year not included in the approved capital spending plan for such year (which shall be approved or rejected within 30 days of being provided and if no rejection shall be deemed approved).

Capital Spending. Nonresidential fixed investment in the GNP; consists of business outlays on long-lived productive facilities (plant and equipment) including office building and shopping center construction, as well as purchases of such long-lived items as trucks, office and farm equipment.