Maximum Capital Expenditure Sample Clauses

Maximum Capital Expenditure. In respect of each of the annual Accounting Periods ending on or about the dates set out in column (1) below (each an “Expenditure Period”) the Group taken as a whole will not make Capital Expenditure (excluding: (a) Capital Expenditure to the extent paid out of disposal or insurance proceeds received in respect of a damaged or destroyed asset; (b) Capital Expenditure to the extent paid out of the Excess Cash Flow for such period that is not prepaid under Subclause 11.6 (Mandatory Prepayment - Excess Cash Flow) or from Permitted Equity Injections; (c) to the extent it has been included in Capital Expenditure, the amount of consideration for the Target Shares and related costs and expenses to the extent provided for in the Structure Memorandum and/or Funds Flow Statement and/or the Financial Model; and (d) Capital Expenditure financed by hire purchase or a finance lease to the extent permitted under this Agreement) on assets in excess of the amount set out in column (2) below against the relevant date: (1) (2) 31/12/06 440.0 31/12/07 410.0 31/12/08 365.0 31/12/09 345.0 31/12/10 360.0 31/12/11 435.0 31/12/12 435.0 31/12/13 395.0 31/12/14 395.0 (a) up to fifty per cent. (50%) of any such Capital Expenditure limit not utilised in any Expenditure Period may be carried forward for one Expenditure Period only and added (otherwise than for the purposes of the further application of this proviso) to the Capital Expenditure limit for the next Expenditure Period; and (b) in any Expenditure Period up to fifty per cent. (50%) of the Capital Expenditure limit for the next Expenditure Period may be utilised in the current Expenditure Period (the “Brought Forward Amount”), with the Capital Expenditure for the next Expenditure Period being reduced by an amount equal to the Brought Forward Amount. Any amount carried forward from one Expenditure Period to the next shall be deemed to be spent before all of the other capital expenditure permitted to be spent in such Expenditure Period has been spent.
Sample 1
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Maximum Capital Expenditure. It will not, and will procure that no other member of the Group will, undertake any, or enter into any financial commitments with respect to, Capital Expenditure in any financial year if the total Capital Expenditure of all members of the Group in such financial year would exceed the Budgeted Capital Expenditure for such financial year but so that, during the Finance Period, the Borrower can incur additional Capital Expenditure which is not otherwise permitted under this paragraph 1.4 not exceeding, in aggregate, (pound)10,000,000 (or its equivalent at the date of expenditure).
Sample 1
Maximum Capital Expenditure. In respect of each period set out in column (1) below (each an Expenditure Period), the Company will procure that the Group taken as a whole will not make Capital Expenditure in excess of the amount (each a Capital Expenditure Limit) set out in column (2) below opposite the relevant period: (1) Expenditure Period (2) Capital Expenditure Limit (USD) (i) for the purposes of this Subclause, Capital Expenditure funded by cash contributed by the Investor will be excluded in determining whether or not a Capital Expenditure Limit has been exceeded; (ii) up to fifty per cent. (50 per cent.) of any such Capital Expenditure Limit not utilised in any Expenditure Period may be carried forward for one Expenditure Period only and added (otherwise than for the purposes of the further application of this proviso) to the Capital Expenditure Limit for the next Expenditure Period. Any amount carried forward from one Expenditure Period to the next shall only be utilised after the original Capital Expenditure Limit for such next Expenditure Period has been utilised in full and if not utilised within such next Expenditure Period shall lapse; and (iii) the Company shall procure that the Group will not make Capital Expenditure if doing so would result in a breach of the Fixed Charges Coverage Ratio.
Sample 1
Maximum Capital Expenditure. The Beneficiary undertakes to procure that, on each Test Date indicated under Table 3 below, the aggregate amount of the Capital Expenditures incurred during the Test Period ending on the relevant date, shall be lower than the amount indicated in such Table 3 in front of the relevant Test Date. Compliance with the following financial covenants on a Test Date shall be calculated with reference to the Test Period ending on such Test Date and on the basis of the accounting documentation delivered, or, as the case may be, to be delivered to the Lending Party pursuant to Article 1(A) points (1) and (2) of Annex 14 of the Loan Agreement. 31 March 2010 USD 16,100,000.00 31 March 2011 USD 28,750,000.00 31 March 2012 USD 34,500,000.00
Sample 1
Maximum Capital Expenditure. In any Fiscal Year, permit Capital Expenditures to exceed the amounts set forth below: Fiscal Year Amount ----------- ------ 2000 42,000,000 2001 66,000,000 2002 50,500,000 2003 16,000,000 2004 16,000,000 2005 16,250,000 2006 16,250,000 2007 16,500,000 2008 16,500,000 ;provided that permitted Capital Expenditures not used in any Fiscal Year may be applied to the next succeeding Fiscal Year.
Sample 1
Maximum Capital Expenditure. The Borrower shall not in any financial year below incur Capital Expenditure in excess of the Sek 5,000,000.
Sample 1
Maximum Capital Expenditure. PES and its Restricted Subsidiaries will not allow aggregate Capital Expenditures to exceed (a) $10 million in fiscal year 2011 (which amount shall be prorated in the case of such fiscal year 2011) and (b) $30 million in each fiscal year thereafter (the “Capex Limit”); provided that, to the extent the aggregate Capital Expenditures in any one fiscal year are less than the Capex Limit, then PES and its Restricted Subsidiaries may carry forward such unused amounts to be applied in subsequent fiscal years; and provided, further, that for purposes of the Capex Limit, the following shall not be counted: (i) $160 million in anticipated expenditures for new equipment (as set forth under the “Use of Proceeds” sections in (x) the Offering Circular and (y) the offering circular as to the issuance of $50 million of Additional Notes as permitted by Section 4.09(b)(7)), (ii) additional equipment purchases permitted pursuant to Section 4.09(b)(7), (iii) the acquisition of WSB or its assets as contemplated by the Lease Purchase Agreement, and (iv) Capital Expenditures made with any Remaining Amount or the net cash proceeds of any Equity Offering. All Capital Expenditures shall first be applied to reduce the carry-forward from the previous fiscal year (or portion thereof), if any, and then to reduce the applicable Capex Limit for the current fiscal year.”
Sample 1
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Maximum Capital Expenditure. In any Fiscal Year, permit Capital Expenditures to exceed the amounts set forth below: 2006 $ 25,000,000 2007 $ 23,500,000 2008 and thereafter $ 22,000,000 provided that the maximum amount of Capital Expenditures permitted by this Section 10.4 in any Fiscal Year shall be increased by the amount of Capital Expenditures that were permitted to be made under this Section 10.4 in the immediately preceding Fiscal Year (without giving effect to any carryover amount from prior Fiscal Years) over the amount of Capital Expenditures actually made during such preceding Fiscal Year. Notwithstanding anything to the contrary in this Section 10.4, if, as of any fiscal quarter end, the Leverage Ratio is less than 3.00 to 1.00, the amount of Capital Expenditures shall not be limited provided that such Leverage Ratio remains less than 3.00 to 1.00 both before and after giving effect to such Capital Expenditure.
Sample 1
Maximum Capital Expenditure. At the end of each fiscal quarter set forth below, not permit consolidated Capital Expenditures for each consecutive four fiscal quarterly periods (except that until the fiscal quarter ending March 31, 2003 such measurements shall be made for the fiscal quarterly periods from April 1, 2002 and until the end of the fiscal quarter set forth below) to exceed the corresponding amount set forth below: Amount of Capital Period Ending In Expenditure ---------------- ----------- September 30, 2002 $43,492,000 December 31, 2002 $63,358,000 March 31, 2003 $81,052,000 June 30, 2003 $85,477,000 September 30, 2003 $72,948,000 December 31, 2003 $78,777,000 March 31, 2004 $82,755,000 June 30, 2004 $86,729,000 September 30, 2004 $90,704,000 December 31, 2004 $86,678,000 March 31, 2005 $93,123,000 June 30, 2005 $99,564,000
Sample 1

Related to Maximum Capital Expenditure

  • 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;

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • 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.

  • 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.

  • Expenditure No Borrower shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing its Ship.

  • LENDER'S EXPENDITURES If any action or proceeding is commenced that would materially affect Lender’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 Borrower. 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.

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