Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP. Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment, for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant does not receive Notice of Landlord's disapproval of the Building Estimate within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not identified as disputed in such Landlord's Notice shall be deemed approved. (b) In the event Major Capital Expenditures are required as a result of the receipt by Tenant of an order from a Government Agency or other circumstances described in subsection (ii) of Section 5.1.2(c) (including costs associated with the removal or remediation of Hazardous Substances), Tenant shall be authorized to take appropriate remedial action without first receiving Landlord's approval (i) due to an emergency threatening the Leased Property, its guests, invitees or employees, or (ii) if the continuation of a given condition will subject Tenant or Landlord to civil or criminal liability. Major Capital Expenditures made pursuant to this Section 5.1.3(b) shall be deemed approved by Landlord. (c) The cost of all approved, deemed approved or non-approvable Major Capital Expenditures shall be b...

Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant, or Manager at the direction of Tenant, shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing or vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include (i) all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP, and (ii) all other Environmental Claims of third parties other than Landlord, Tenant, Manager or their agents, successors and assigns (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), provided that in the case of this clause (ii) such Environmental Claims, together with all other such Environmental Claims of the type contemplated in this clause (ii) under all of the Other Leases, exceed $250,000 and are less than $1,250,000 (it being expressly agreed that Landlord's obligation under this clause (ii) shall not exceed, in the aggregate, $1,000,000 for all of the leased properties contemplated by this Lease and the Other Leases). Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment (or Manager's reasonable judgment if directed by Tenant to prepare the Building Estimate), for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant or Manager, as applicable, does not receive Notice of Landlord's disapproval of the Building Estimate or any item therein, within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate or such items, as applicable. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not ident...

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Major Capital Expenditures. If Manager performs supervisory services with respect to carrying out any Major Capital Expenditures, Manager shall be paid a supervisory fee in connection therewith. Owner shall have the option of whether to utilize Manager or a third party for such Capital Expenditures execution; provided, however, any third party selected therefor shall be subject to Manager's reasonable approval. All Capital Budgets shall contain an estimate of fees for Manager's or a third party's services in connection with the same.

Major Capital Expenditures. (a) On or before the Commencement Date (with respect to the first partial Fiscal Year) and December 1 of each Fiscal Year thereafter, Tenant shall deliver to Landlord, for Landlord's approval, a detailed line-item estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP (which expenses shall include, with respect to any cost item, any customary market-rate supervisory fee, and any other fee commonly referred to as "purchasing fees", charged by Tenant, Manager or any Affiliated Person for services rendered in connection herewith) such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures") which Major Capital Expenditures Tenant believes should be made to the Leased Property for the following Lease Year, together with estimates of professionals and other appropriate backup. Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated at Tenant's sole cost and expense under Section 5.1.4(b) and referenced in Section 4.2). Except as provided in paragraph 5.1.3(b) below, Tenant acknowledges the provisions of 35

Major Capital Expenditures. The cost of expenditures with respect to Major Capital Improvements not otherwise provided for herein, shall be approved and borne solely by Lessee and/or Owner, and shall not be paid from Gross Revenues. A. On or before December 1st of each Fiscal Year, Lessee shall cause Owner to prepare and submit for Lessee’s and Manager’s information only a preliminary Building Estimate of the Major Capital Improvements anticipated for the following Fiscal Year, with input and cooperation from Manager. Then, on or before January 1st of each Fiscal Year, Lessee shall cause Owner to prepare and submit for Lessee’s and Manager’s information only a final Building Estimate, which shall be subject to approval of the board of trustees of Innkeepers, of the Major Capital Improvements anticipated for the following Fiscal Year, with input and cooperation from Manager. Such preliminary and final Building Estimates shall take into account those Major Capital Improvements necessary to comply with the Franchise Agreement. Manager shall consider the preliminary and final Building Estimates in preparing the projections of revenues and expenses contained in the Annual Operating Projection. Except as provided in Section 10.03, all work necessary to perform Major Capital Improvements shall be performed by Lessee or Owner or persons employed by Lessee or Owner to perform such Major Capital Improvements, and Manager shall cooperate with Lessee and persons retained by Lessee to perform such Major Capital Improvements. Manager shall not make any Major Capital Improvements without the prior written consent of Lessee, which may be granted or withheld in its sole discretion, except as provided in Subsection B below. B. Notwithstanding the foregoing, Manager shall be authorized to take appropriate remedial action (including making any necessary capital expenditures) without receiving Lessee’s prior approval if (i) there is an emergency imminently threatening the Hotel, or the life or property of its guests, invitees or employees or (ii) the continuation of the given condition would subject Manager, Lessee or Owner to criminal or material civil liability. Manager shall notify Lessee as promptly as reasonably possible in either case, and before making such expenditures, or if prior notice to Lessee is not practically possible, then Manager shall notify Lessee as promptly as reasonably possible after the making of any such expenditures, and shall adhere to all reasonable instructions of Lessee in ...

Major Capital Expenditures. Major Capital Expenditures will be undertaken only at the request of Owner, whether on its own initiative or at the suggestion of Manager, and in any event shall be subject to the approval of Manager. Major Capital Expenditures shall be the responsibility of and funded by Owner.

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Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).
Maximum Capital Expenditures The Parent and the Borrower will, and will cause each Consolidated Subsidiary to, not make Capital Expenditures on a consolidated basis that exceed $30,000,000 in any fiscal year (the “Base Capital Expenditure Amount”). Notwithstanding anything to the contrary, the Base Capital Expenditure Amount shall be increased by the following amounts: (i) to the extent that the aggregate amount of Capital Expenditures made by the Parent and its Consolidated Subsidiaries in any fiscal year is less than the Base Capital Expenditure Amount, the amount of such difference may be carried forward and used to make Capital Expenditures in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (i) shall in no event exceed an amount equal to 75% of the unused portion of the Base Capital Expenditure Amount for such fiscal year (without giving effect to any prior adjustments), (ii) if no Default or Event of Default has occurred and is continuing, or would result after giving effect thereto, the Parent and its Consolidated Subsidiaries may make additional Capital Expenditures to the extent that the amount of such excess is deducted from the Base Capital Expenditure Amount in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (ii) shall in no event exceed an amount equal to 25% of the Base Capital Expenditure Amount (without giving effect to any prior adjustments) and (iii) the Base Capital Expenditure Amount shall exclude any Capital Expenditures that are funded with the Available Credits; provided that, at the time of such Capital Expenditures, the Borrower shall deliver a certificate of a Financial Officer stating the portion of Capital Expenditures that is being made from the Available Credit, and setting forth a calculation of the Available Credit immediately before and immediately after such Capital Expenditures.
Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).
Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;
Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.
XXXXXX’S EXPENDITURES If any action or proceeding is commenced that would materially affect Xxxxxx’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.
Limitation on Capital Expenditures Make or commit to make any Capital Expenditures except: (a) Capital Expenditures made (or deemed made) with the proceeds of any Reinvestment Deferred Amount (including Capital Expenditures made during the six-month period prior to the relevant Reinvestment Event); (b) Capital Expenditures in any Fiscal Year to finance the acquisition, construction or leasing of fixed or capital assets of the Borrower and its Class I Restricted Subsidiaries in the ordinary course of business not exceeding the Applicable Consolidated EBITDA Amount for such Fiscal Year; provided, that (x) such amounts referred to above, if not so expended in the Fiscal Year for which it is permitted, may be carried over for expenditure in the next succeeding Fiscal Year and (y) Capital Expenditures made pursuant to this paragraph (b) during any Fiscal Year shall be deemed made, first, in respect of amounts permitted for such Fiscal Year as provided above and, second, in respect of amounts carried over from the prior Fiscal Year pursuant to clause (x) above; (c) to the extent that no amounts under Section 7.7(a) and (b) are available, Capital Expenditures to finance the acquisition, construction or leasing of fixed or capital assets in an amount not to exceed the Applicable Amount at the time of, and immediately prior to the making of, such Capital Expenditure; provided that, immediately prior to and after giving effect to such Capital Expenditure under this paragraph (c), no Default or Event of Default shall have occurred and be continuing; and (d) notwithstanding anything in this Section 7.7 to the contrary, and without utilization of any amounts described in paragraphs (a) through (c) of this Section 7.7, purchases of digital projectors and other digital cinema equipment from or with DCIP.
Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.
AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.
Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are: (a) management costs of the Programme Operator in accordance with the detailed budget in the financial plan; (b) payments to projects within this Programme in accordance with the Regulation, this programme agreement and the project contract. 2. Eligible expenditures of projects are those actually incurred by the Project Promoter or project partners, meet the criteria set in Article

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