Common use of Capitalized Expenditures Clause in Contracts

Capitalized Expenditures. Borrower’s unfinanced Capital Expenditures shall not exceed Five Million Dollars ($5,000,000), and Borrower’s aggregate Capitalized Expenditures for the fiscal year ending December 31, 2020 (inclusive of any unfinanced Capitalized Expenditures) shall not exceed Twenty Million Dollars ($20,000,000); the maximum aggregate Capital Expenditures for the fiscal year ending December 31, 2021 shall be reset based on the board-approved projections for the applicable fiscal year in Bank’s discretion.

Capitalized Expenditures. Borrower’s unfinanced Capital Expenditures shall not exceed Five Ten Million Dollars ($5,000,00010,000,000), and Borrower’s aggregate Capitalized Expenditures for the fiscal year ending December 31, 2020 (inclusive of any unfinanced Capitalized Expenditures) shall not exceed Twenty Twenty-Five Million Dollars ($20,000,00025,000,000); the maximum aggregate Capital Expenditures for the fiscal year ending December 31, 2021 shall be reset based on the board-approved projections for the applicable fiscal year in Bank’s discretion.