Maximum Annual Capital Expenditures. The Borrower hereby covenants and agrees that the Loan Parties and their Subsidiaries will not exceed $33,000,000 in Capital Expenditures during any four (4) fiscal quarter period ending on the last day of the fiscal quarter most recently ended; provided that this Section 9.2 will not apply if the Net Leverage Ratio is less than or equal to 4.00 to 1.00 as of the end of the second and fourth fiscal quarter of such calendar year.
Maximum Annual Capital Expenditures. The Borrower shall not at any time permit the Borrower's Capital Expenditures (excluding Capital Expenditures funded by contributions to Paid in Capital other than contributions required to maintain the Borrower's compliance with the covenants contained in Sections 8.3(a) and 8.3(b)) for the calendar years set forth below, to exceed the amount set forth opposite such year: ------------------------------- -------------------------------------------------------------- CALENDAR YEAR MAXIMUM CAPITAL EXPENDITURES ------------------------------- -------------------------------------------------------------- 1999 US$115,000,000 ------------------------------- -------------------------------------------------------------- 2000 US$147,000,000 ------------------------------- -------------------------------------------------------------- 2001 US$24,000,000 ------------------------------- -------------------------------------------------------------- 2002 US$33,000,000 ------------------------------- -------------------------------------------------------------- 2003 US$45,000,000 ------------------------------- -------------------------------------------------------------- 2004 US$46,000,000 ------------------------------- -------------------------------------------------------------- 2005 US$47,000,000 ------------------------------- -------------------------------------------------------------- 2006 US$47,000,000 ------------------------------- -------------------------------------------------------------- -56- 58 provided, however, that Capital Expenditures permitted in any period which are not used in such period may be carried forward to, and expended in, the next period.
Maximum Annual Capital Expenditures. For each fiscal year identified below, make Capital Expenditures for the Borrower and all Subsidiaries on a consolidated basis in excess of the following: Measured as of the fiscal year ending Maximum Amount FYE 12/31/98 $22,500,000 FYE 12/31/99 $15,000,000 FYE 12/21/00 $16,500,000 FYE 12/31/01 $20,250,000
Maximum Annual Capital Expenditures. Borrower will not make any capital expenditure, or any commitment therefore, or obtain equipment subject to a purchase money security interest, trust deed or lease, in an amount exceeding $500,000 in the aggregate in any calendar year, without the written consent of Bank in its sole discretion. .
(p) Section 5, Subsection 5.18 is hereby added to the Agreement as follows:
Maximum Annual Capital Expenditures. Commencing with the year ending December 31, 2008, capital expenditures of the Borrower and its Subsidiaries, measured and reported on a consolidated basis as of each fiscal year end, shall not for such fiscal year exceed the sum of (i) $6,000,000 plus (ii) the excess, if any, of $6,000,000 over the actual amount of capital expenditures for the immediately preceding fiscal year if the Total Leverage Ratio for the fiscal quarter in which such capital expenditure is made or for any succeeding fiscal quarter for the fiscal year in which any capital expenditure is made is equal to or greater than 3.00:1.00 on a pro forma basis.
Maximum Annual Capital Expenditures. Permit Capital Expenditures in ----------------------------------- the aggregate for THT and its Subsidiaries to exceed $400,000 in any fiscal year, provided, that the Borrowers may make additional Capital Expenditures -------- until the first anniversary of the date of this Agreement in an aggregate amount not to exceed $750,000 which relates to the expansion by Setterstix of its plant located at 000 Xxxxx Xxxx Xxxxxx, Xxxxxxxxxxx, Xxx Xxxx 00000. "Capital ------- Expenditures" means, for any period, any expenditures (whether paid in cash or ------------ accrued as liabilities and including in all events all amounts expended or capitalized under Capital Leases) by any Person during that period that, in conformity with GAAP, are or are required to be included in the property, plant or equipment reflected in the balance sheet of such Person, provided that the -------- term Capital Expenditures in any event shall include (i) all cash expenditures in connection with the acquisition of all or any portion of the business of another Person or the acquisition of the capital stock of another Person (and not just the portion allocated or allocable to property, plant or equipment), but shall exclude the portion reasonably allocable to the purchase of inventory and receivables and (ii) the principal amount of all Indebtedness issued in connection with any such acquisition.
Maximum Annual Capital Expenditures. (Section 8.6). As of the Computation Date, the aggregate Capital Expenditures of Borrowers during the current Fiscal Year, which are required to be not more than (i) $6,000,000 in the aggregate per Fiscal Year for the Fiscal Years ending December 31, 2008 and December 31, 2009 and (ii) $3,000,000 in the aggregate per Fiscal Year for each Fiscal Year ending December 31, 2010 and thereafter, totaled $______________, as computed in the supporting documents attached hereto as Schedule 4.
Maximum Annual Capital Expenditures. During the Fiscal Years listed below, make Capital Expenditures for the Borrower and all Subsidiaries on a consolidated basis in excess of Fiscal Year Ending ------------------ September 30, 1999 $ 5,000,000 September 30, 2000 $10,000,000 September 30, 2001 $12,000,000
(16) SECTION 5.2 (a) of the Credit Agreement is amended by the deletion of subsection (v) thereto.
(17) SECTION 5.2(d)(v) of the Credit Agreement is restated in its entirety to read as follows:
Maximum Annual Capital Expenditures. Capital Expenditures of Borrowers and their Subsidiaries on a Consolidated basis during any fiscal year shall not exceed 4% of sales during such fiscal year, plus 50% of the unused amount of allowable Capital Expenditures carried over from the immediately prior fiscal year, provided that such unused Capital Expenditures for any fiscal year shall only be carried forward for one (1) year. For the purposes of this Section 6.5 only and only for the 1999 fiscal year, the determination of Capital Expenditures shall not include (A) up to $7,400,000.00 used to acquire the Premises and up to $4,600,000.00 used to initially rehabilitate the Premises and (B) up to $3,000,000.00 incurred prior to December 31, 1999 by CGII to acquire Equipment and other assets of Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx.
Maximum Annual Capital Expenditures. During any Fiscal Year, make Capital Expenditures for the Borrower and all Subsidiaries on a consolidated basis in excess of $4,000,000.
