Unfinanced Capital Expenditures. Borrower’s unfinanced capital expenditures, measured as of the last day of each calendar quarter and calculated on a cumulative year-to-date basis, shall not exceed the amounts set forth in the table immediately below for the corresponding reporting periods, For subsequent reporting periods, Bank and Borrower hereby agree that, on or before February 1 of each year during the term of this Agreement, Borrower shall provide Bank with a budget for the upcoming calendar year, which shall be approved by Borrower’s board of directors, and Bank shall use that budget to establish the unfinanced capital expenditures amounts for the upcoming year, with such amounts being incorporated herein by an amendment, which Borrower hereby agrees to execute. June 30, 2016 $ 4,000,000 September 30, 2016 $ 5,000,000 December 31, 2016 $ 6,000,000
Unfinanced Capital Expenditures. The aggregate amount of Capital Expenditures made during such Reference Period (to the extent not financed with Indebtedness (other than Revolving Loans), an issuance of Equity Interests or capital contributions, or proceeds of asset sales, or the proceeds of casualty insurance used to replace or restore assets): $__________
Unfinanced Capital Expenditures. No Loan Party will, nor will it permit any Subsidiary to, make or become legally obligated to make any Unfinanced Capital Expenditures, except for Unfinanced Capital Expenditures in the ordinary course of business not exceeding, in the aggregate for the Borrower and its Subsidiaries $4,000,000 during any fiscal year (such amount, the “Annual Limit”). Notwithstanding the foregoing and so long as no Default or Event of Default has occurred and is continuing, or would result from any such expenditure, 50% of any portion of the Annual Limit, if not expended in the fiscal year for which it is permitted, may be carried over for expenditure in the next following fiscal year; provided that, if any such amount is so carried over, (a) to the extent such capital expenditures are paid in cash, they will be deemed used in the applicable subsequent fiscal year after the Annual Limit for such fiscal year and (b) it may not be carried over to any subsequent fiscal year.
Unfinanced Capital Expenditures. An unfinanced capital expenditures in the aggregate amount not to exceed $3,000,000 for 2014 fiscal year.
2. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement.
3. Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct in all respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all respects as of such date).
4. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.
5. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:
(a) this Amendment, duly executed by Borrower;
(b) payment of all Bank Expenses, including Bank’s expenses for the documentation of this Amendment and any related documents, and any UCC, good standing and intellectual property search or filing fees, which may be debited from any of Borrower’s accounts; and
(c) such other documents and completion of such other matters, as Bank may reasonably deem necessary or appropriate.
Unfinanced Capital Expenditures. Borrower’s unfinanced capital expenditures shall not exceed (i) Ten Million Dollars ($10,000,000) in the aggregate for Borrower’s fiscal year ending December 31, 2010, and (ii) Twenty-Five Million Three Hundred Twenty-Three Thousand Dollars ($25,323,000.00) in the aggregate for Borrower’s fiscal year ending December 31, 2011. In addition, commencing with Borrower’s fiscal year beginning January 1, 2012, and for each fiscal year thereafter, Borrower’s unfinanced capital expenditures shall not exceed one hundred twenty percent (120%) of the unfinanced capital expenditures projected for each such fiscal year pursuant to Borrower’s Board of Directors’ approved projections, which projections shall be acceptable to Bank in its reasonable discretion.” and inserting in lieu thereof the following:
Unfinanced Capital Expenditures. The Borrower hereby covenants and agrees that the Loan Parties and their Subsidiaries will not exceed $20,000,000 in Unfinanced Capital Expenditures during any calendar year (such amount, the “Maximum Annual Capital Expenditures”); 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; provided, further, that the Loan Parties and their Subsidiaries may exceed the Maximum Annual Capital Expenditures in amounts acceptable to and subject to the written consent of Corre (as long as the Corre Affiliates which are Lenders constitute the Required Lenders hereunder).
Unfinanced Capital Expenditures. An unfinanced capital expenditures in the aggregate amount not to exceed $2,000,000 for 2014 fiscal year.
Unfinanced Capital Expenditures. Borrower’s unfinanced capital expenditures shall not exceed Ten Million Dollars ($10,000,000) in the aggregate for Borrower’s fiscal year ending December 31, 2010. In addition, commencing with Borrower’s fiscal year beginning January 1, 2011, and for each fiscal year thereafter, Borrower’s unfinanced capital expenditures shall not exceed one hundred twenty percent (120%) of the unfinanced capital expenditures projected for each such fiscal year pursuant to Borrower’s Board of Directors’ approved projections, which projections shall be acceptable to Bank in its reasonable discretion.
Unfinanced Capital Expenditures. The unfinanced Capital Expenditures of the Loan Parties during fiscal year 2019 shall be limited to $3,000,000; provided that, the vehicle leases shall be excluded from this limit; provided however that, no unfinanced Capital Expenditures, including for vehicle leases, shall be permitted on and after any quarter end date on which the Loan Parties fail to achieve the required Fixed Charge Coverage Ratio for such date.
Unfinanced Capital Expenditures. The Borrower hereby covenants and agrees that, for the CapEx Test Period ending on December 31, 2023, and for each CapEx Test Period thereafter, the Loan Parties and their Subsidiaries will not exceed $15,000,000 in Unfinanced Capital Expenditures during any such CapEx Test Period (such amount, the “Maximum Annual Capital Expenditure Limit”); provided that, notwithstanding the foregoing, the Loan Parties and their Subsidiaries shall be permitted to make up to $25,000,000 in Unfinanced Capital Expenditures in the aggregate in any CapEx Test Period if the Total Leverage Ratio would be less than or equal to 2.00 to 1.00 on a pro forma basis immediately after giving effect to each such Unfinanced Capital Expenditures in excess of the Maximum Annual Capital Expenditure Limit.
