Capital Improvement Budget shall have the meaning as set forth in Section 8.02E.
Capital Improvement Budget means the budget of the capital expenditures necessary for replacement of FF&E and building repairs of the nature contemplated by Article VIII that is approved by Lessee and Landlord for each Fiscal Year.
Capital Improvement Budget shall have the meaning given such term in the Master Project Management Agreement.
Examples of Capital Improvement Budget in a sentence
Any onsite or dedicated personnel required for the direct supervision of the implementation of a Capital Improvement Budget or other renovation project will be a direct cost to, and shall be reimbursed by, the Landlord.
The Capital Improvement Budget shall not be deemed accepted by Lessee and Landlord in the absence of their respective express written approval.
Failure of Lessee and/or Landlord to deliver a CIB Objection Notice shall be deemed rejection of the Manager’s proposed Capital Improvement Budget in its entirety.
The operation of the Premises shall be under the exclusive supervision and control of Manager who, except as otherwise specifically provided in this Agreement, shall be responsible for the proper and efficient management and operation of the Premises in accordance with this Agreement, the Leases, the Franchise Agreements, the Capital Improvement Budget and the Annual Operating Budget.
Not later than thirty (30) days after receipt by Lessee and Landlord of a proposed Capital Improvement Budget (or such longer period as Lessee and Landlord may reasonably request on Notice to the Manager), Lessee and/or Landlord may deliver a Notice (a “CIB Objection Notice”) to the Manager stating that Lessee and/or Landlord objects to any information contained in or omitted from such proposed Capital Improvement Budget and setting forth the nature of such objections with reasonable specificity.
More Definitions of Capital Improvement Budget
Capital Improvement Budget of the expenditures necessary for replacement of FF&E and building repairs of the nature contemplated by Section 8.01 during the ensuing Fiscal Year and shall provide such Capital Improvement Budget to Lessee and Landlord for approval at the same time Manager submits the Annual Operating Budget. The Capital Improvement Budget shall not be deemed accepted by Lessee and Landlord in the absence of their respective express written approval. Not later than thirty (30) days after receipt by Lessee and Landlord of a proposed Capital Improvement Budget (or such longer period as Lessee and Landlord may reasonably request on Notice to the Manager), Lessee and/or Landlord may deliver a Notice (a “CIB Objection Notice”) to the Manager stating that Lessee and/or Landlord objects to any information contained in or omitted from such proposed Capital Improvement Budget and setting forth the nature of such objections with reasonable specificity. Failure of Lessee and/or Landlord to deliver a CIB Objection Notice shall be deemed rejection of the Manager’s proposed Capital Improvement Budget in its entirety. Upon receipt of any CIB Objection Notice, the Manager shall, after consultation with Lessee and Landlord, modify the proposed Capital Improvement Budget, taking into account Lessee’s and/or Landlord’s objections, and shall resubmit the same to Lessee and Landlord for Lessee’s approval within fifteen (15) days thereafter, and Lessee and/or Landlord may deliver further CIB Objection Notices (if any) within fifteen (15) days thereafter (in which event, the re-submission and review process described above in this sentence shall continue until the proposed Capital Improvement Budget in question is accepted and consented to by Lessee and Landlord). Notwithstanding anything to the contrary set forth herein, Lessee and Landlord shall have the right at any time subsequent to the acceptance and consent with respect to any Capital Improvement Budget, on Notice to the Manager, to revise, with the reasonable approval of Manager, such Capital Improvement Budget or to request that the Manager prepare for Lessee’s and/or Landlord’s approval a revised Capital Improvement Budget, taking into account such circumstances as Lessee and Landlord deem appropriate; provided, however, that the revision of a Capital Improvement Budget shall not be deemed a revocation of the Manager’s authority with respect to such actions as the Manager may have already taken prior to receipt of such revision noti...
Capital Improvement Budget means the capital improvement budget of the
Capital Improvement Budget means the breakdown of costs and expenses attached hereto as Exhibit B, as the same may be revised from time to time with the prior written approval of Lender (which consent shall not be unreasonably withheld, conditioned or delayed); provided, however, that (a) Lender’s approval shall not be required with respect to reallocations of actual demonstrated cost savings from one line item to another within such breakdown of costs and expenses, and (b) without limitation of Lender’s approval rights set forth in Section 4.14(b) below with respect to any revised breakdown delivered to Lender in connection with any required deposit of funds in the Capital Improvements Reserve Account, Lender’s approval shall not be required with respect to revisions to the working breakdown of costs and expenses then most recently approved by Lender which do not involve (i) a change of more than Fifty Thousand Dollars ($50,000) in any one line item, or (ii) together with all prior revisions, if any, to the breakdown of costs and expenses then most recently approved by Lender, changes of more than Two Hundred Thousand Dollars ($200,000) in the aggregate for all line items.
Capital Improvement Budget means the budget attached hereto as Schedule 6.01(q) that sets forth all categories of costs and expenses required in connection with the performance of capital improvements with respect to, start-up, and testing of the Project, including all construction costs, all costs under the Construction Contracts, all interest, taxes and other carrying costs, and costs related to the performance of capital improvements described under the Project Documents, as may be updated from time to time with the prior written consent of the Required Lenders.
Capital Improvement Budget means the capital budget attached hereto as part of Exhibit C.
Capital Improvement Budget of the expenditures necessary for replacement of the Premises’ fixtures, furniture, furnishings and equipment (“FF&E”) and building repairs of the nature contemplated by Section 8.01 during the ensuing Fiscal Year and shall provide such Capital Improvement Budget to Lessee and Landlord for approval at the same time Manager submits the Annual Operating Budget. The Capital Improvement Budget shall not be deemed accepted by Lessee and Landlord in the absence of their respective express written approval. Not later than thirty
Capital Improvement Budget means the capital budget attached hereto as part of Exhibit "C". "Capital Improvement Work" shall have the meaning ascribed to such term in Section 2.4(c). "Capital Improvement Work Completion date" means April 30, 2016, subject to Section 9.12 hereof.