Capital Repair and Replacement definition

Capital Repair and Replacement means capital repair and replacement and is any individual repair or replacement of the Project, or any combination of repairs or replacements resulting from the occurrence of the same event, the cost of which exceeds $50,000.
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Capital Repair and Replacement shall have the meaning defined in Exhibit E.
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Capital Repair and Replacement means the rebuilding, reconstruction 27 or replacement of any destroyed, dysfunctional or obsolete Improvement or part of the 28 Improvement so as to restore the Improvement or part to not less than its functional level prior to 29 the need for such rebuilding, reconstruction or replacement. “Capital Repair and Replacement” 30 covers items that are treated as capital costs and not as expenses under GAAP.
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Examples of Capital Repair and Replacement in a sentence

  • GBRA shall establish, as needed, a Capital Projects Fund, a Debt Service Fund, a Lake XxXxxxxxx Operating Fund, and a Lake XxXxxxxxx Capital Repair and Replacement Fund, pursuant to an approved Bond Resolution or this Contract.

  • LCZ shall set aside and restrict the amount of Five Hundred Thousand Dollars ($500,000.00) to fund a permanent Capital Repair and Replacement Endowment for management as the Lincoln Children’s Zoo Endowment Fund (“Endowment Fund”) to ensure capital repairs, replacements, and maintenance of the Zoo.

  • GBRA shall establish, as needed, a Capital Projects Fund, a Debt Service Fund, a Lake Placid Operating Fund, and a Lake Placid Capital Repair and Replacement Fund, pursuant to an approved Bond Resolution or this Contract.

  • The Capital Repair and Replacement Account shall be funded fifty percent (50%) of the budgeted amount in October and fifty percent (50%) of the budgeted in March of each fiscal year.

  • The Capital Repair and Replacement Account shall be maintained in a separate, segregated bank account into which only the Capital Repair and Replacement Funds are deposited.

  • The Concessionaire shall determine, collect, and escrow Capital Repair and Replacement Funds pursuant to the Master Concession Agreement to create the Capital Repair and Replacement Account.

  • The total amount of Capital Repair and Replacement Funds is comprised of the combined, Initial Deposit, plus Projected Costs, plus Contingency Fund.

  • If annual budget would result in the Capital Repair and Replacement Funds falling below threshold level as determined in the Master Concession Agreement, the Concessionaire shall fund additional amounts to maintain minimum required reserve.

  • The Concessionaire shall provide the BOR with quarterly statements of account with respect to such account together with a computation demonstrating that such account is funded at the level required by this Section 5.4. The Concessionaire hereby grants to the BOR a security interest in the bank account where the Capital Repair and Replacement Funds are (or will be) deposited.

  • Semi-annual Capital Repair and Replacement Account deposits will begin in year one and will accrue to amounts sufficient to meet future needs.

Related to Capital Repair and Replacement

  • Capital Replacement means the replacement of those items listed on Exhibit F.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Capital Improvements mean the purchase, renovation, rehabilitation, or construction of permanent land, buildings, structures, equipment and furnishings used directly for or in the Project, and any goods or services for the Project that are purchased and capitalized under GAAP, including any organizational costs and research and development costs incurred in Illinois. Capitalized lease costs for land, buildings, structures or equipment shall be included in “Capital Improvements” only if the lease term, including any extensions or options to extend, equals or exceeds the term of this Agreement, and provided that such lease costs are valued at their present value using the corporate interest rate prevailing at the time the Company filed its Application with the Department.

  • Renovation means rehabilitation that involves costs of 75 percent or less of the value of the building before rehabilitation.

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.

  • Repair facility Means any licensed automotive REPAIR FACILITY capable of performing repair services to a COVERED PART, approved by the ADMINISTRATOR, and at which YOU seek to acquire service under this CONTRACT.

  • Structural Alterations means any Alterations involving the structural, mechanical, electrical, plumbing, fire/life safety or heating, ventilating and air conditioning systems of the Building.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Structural alteration means an Alteration that (i) will result in a change in the footprint of the Improvements, (ii) involves the addition of one or more floors to the Improvements, (iii) affects the structural elements or any exterior walls of the Improvements, (iv) decreases the rentable square footage of the Leased Premises other than to a de minimis extent or (v) adversely affects the proper functioning and/or capacity of the building systems in the Improvements.

  • Major Alteration means change other than repair or replacement of building materials or equipment with materials and equipment of a similar type.