CAPITALIZABLE EXPENDITURES Clause Samples

CAPITALIZABLE EXPENDITURES. If the capitalizable expenditures of Virginia Honey in any fiscal year beginning January 1, 2001 ("POST FISCAL YEAR") is greater than the average capitalizable expenditures (excluding the expenditures related to the construction of manufacturing and warehouse facilities) of Virginia Honey ("HONEY AVERAGE CAPITAL EXPENDITURE") in the fiscal years 1999 and 2000, the following amounts determined by the formula below shall be deducted from the respective years Post Fiscal Year earnings in determining the First Earnout and Second Earnout.