Common use of Minimum Capital Investment Clause in Contracts

Minimum Capital Investment. Tenant shall expend not less than ($ ) construction and installation of the Initial Leasehold Improvements (the “Minimum Capital Investment”). Capital expenditure costs that may be counted toward the Minimum Capital Investment shall include all costs paid for work performed, services rendered and materials furnished for the construction of the Initial Leasehold Improvements, subject to the following terms, conditions and limitations: (1) The cost of design (subject to the limitations set forth herein), construction and acquisition of the Initial Leasehold Improvements; bonds; construction insurance; and building, impact and concurrency fees shall be included in the Minimum Capital Investment. (2) No more than twelve percent (12%) of the Minimum Capital Investment for payments made by Tenant to independent contractors for engineering and architectural design work may be included in the Minimum Capital Investment. (3) Only true third party costs and payments made by Tenant shall be included in the Minimum Capital Investment. Costs incurred by any sublessee, licensee or other occupant of the Premises, or any portion thereof, other than Tenant shall not be included in the Minimum Capital Investment. (4) Costs for consultants (other than engineering and design consultants, as provided above) shall not be included in the Minimum Capital Investment. Legal fees and accountant fees shall not be included in the Minimum Capital Investment. (5) Finance and interest expenses shall not be included in the Minimum Capital Investment. (6) Administrative, supervisory and overhead or internal costs of Tenant shall not be included in the Minimum Capital Investment. (7) Costs associated with acquisition or installation of personalty, such as furnishings, trade fixtures and equipment, not permanently affixed to the Premises, or any other personalty whatsoever, shall not be included in the Minimum Capital Investment. (8) Any costs associated with any improvements other than the Initial Leasehold Improvements shall not be included in the Minimum Capital Investment unless Tenant has obtained written approval from the Department prior to incurring such costs.

Minimum Capital Investment. Tenant shall expend not less than Dollars ($ ) on the design, construction and installation of the Initial Leasehold Improvements (the “"Minimum Capital Investment”"). Capital expenditure costs that may be counted toward the Minimum Capital Investment shall include all costs paid for work performed, services rendered and materials furnished for the construction of the Initial Leasehold Improvements, subject to the following terms, conditions and limitations: (1) The cost of design (subject to the limitations set forth herein), construction and acquisition of the Initial Leasehold Improvements; bonds; construction insurance; and building, impact and concurrency fees shall be included in the Minimum Capital Investment. (2) No more than twelve percent (12%) of the Minimum Capital Investment for payments made by Tenant to independent contractors for engineering and architectural design work may be included in the Minimum Capital Investment. (3) Only true third party costs and payments made by Tenant shall be included in the Minimum Capital Investment. Costs incurred by any sublessee, licensee or other occupant of the Premises, or any portion thereof, other than Tenant shall not be included in the Minimum Capital Investment. (4) Costs for consultants (other than engineering and design consultants, as provided above) shall not be included in the Minimum Capital Investment. Legal fees and accountant fees shall not be included in the Minimum Capital Investment. (5) Finance and interest expenses shall not be included in the Minimum Capital Investment. (6) Administrative, supervisory and overhead or internal costs of Tenant shall not be included in the Minimum Capital Investment. (7) Costs associated with acquisition or installation of personalty, such as furnishings, trade fixtures and equipment, not permanently affixed to the Premises, or any other personalty whatsoever, shall not be included in the Minimum Capital Investment. (8) Any costs associated with any improvements other than the Initial Leasehold Improvements shall not be included in the Minimum Capital Investment unless Tenant has obtained written approval from the Department prior to incurring such costs.