Common use of Capitalized Expenditures Clause in Contracts

Capitalized Expenditures. Make Capitalized Expenditures (a) for the 2017 fiscal year, in an aggregate amount exceeding $5,000,000 and (b) for each fiscal year thereafter, in an aggregate amount exceeding 150% of the amount approved by Borrower’s Board of Directors for such year as set forth in the most recently approved operating plan delivered to Bank in accordance with Section 6.2(iii) hereof, as such plan may be amended, supplemented or otherwise modified from time to time by Borrower’s Board of Directors.

Capitalized Expenditures. Make Capitalized Expenditures (a) for in excess of $500,000 in the 2017 aggregate in any fiscal yearyear of Borrower; provided, however, that Borrower shall be permitted to make Capitalized Expenditures not in an aggregate amount exceeding excess $5,000,000 and (b) for each during the fiscal year thereafterending December 31, in an aggregate amount exceeding 150% of the amount approved by Borrower’s Board of Directors for such year as set forth in the most recently approved operating plan delivered to Bank in accordance with Section 6.2(iii) hereof, as such plan may be amended, supplemented or otherwise modified from time to time by Borrower’s Board of Directors2017.