Major Capital Improvement definition

Major Capital Improvement means an adjustment of legal regulated rent pursuant to 9 NYCRR § 2522.4 (a) (2).

Major Capital Improvement means any repair, replacement, improvement, alteration or addition to the T&D System or any part thereof (other than any repair, replacement, improvement, alteration or addition constituting routine maintenance of the T&D System) contained in the Major Capital Plan and Budget and that has a useful life at least equal to three years.

Major Capital Improvement means any capital improvement having a cost in excess of Two Hundred Fifty Thousand and 00/100 ($250,000.00) Dollars. Operating expenses shall not include the following:

Examples of Major Capital Improvement in a sentence

• The development of any Major Capital Improvement shall be the responsibility of Lessee and shall be paid for out of separate funds of Lessee.

• The Manager shall not make a Major Capital Improvement without notifying the Authority and receiving written consent from the Authority unless such Major Capital Improvement is included in the then current annual Major Capital Plan and Budget.

• If at any time the T&D System is damaged or destroyed due to an event for which the Manager is responsible under Section 6.10 hereof, the Manager shall pay, in addition to and not in substitution for the payments required above, all Major Capital Improvement Costs and adjustments resulting therefrom.

• To the extent that any Major Capital Improvement Costs that are incurred pursuant to this Article can be recovered by the Manager from any insurer providing the Required Construction Work Insurance or the Required Operating Period Insurance, or from another third party, the Manager shall exercise with due diligence such rights as it may have to effect such recovery.

• The Manager shall give the Authority and the Consulting Engineer written notice of, and reasonable opportunity to review and comment upon, any such proposed Major Capital Improvement.

More Definitions of Major Capital Improvement

Major Capital Improvement means any improvement, repair or replacement to the Facility, or the personal property, fixtures, machinery, equipment, systems or apparatus located therein or used in connection therewith that is: (a) capitalized by HEP in accordance with generally accepted accounting principles, (b) not included within the Work, and (c) not funded or reimbursed by Revenue as either a CSTCC Direct Cost or a HEP Operational Cost in accordance with the terms of this Agreement.

Major Capital Improvement means all capital improvements with a cost of more than $5,000.

Major Capital Improvement means a capital construction project that is designated by UBC as a major project in accordance with policies, procedures, rules or resolutions of the Board.

Major Capital Improvement means (a) any Required Capital Improvement and

Major Capital Improvement means (a) any Required Capital Improvement and (b) any other capital improvement to the Utility System (1) having an estimated cost in excess of $2,000,000, Adjusted for Inflation from the Closing Date to the date such estimate is made and (2) which, in the written opinion of an Engineering Firm, constitutes an expansion to or betterment of the Utility System and is not a renewal or replacement of existing capital assets.

Major Capital Improvement means (a) any capital improvement required to increase the treatment capacity of the Wastewater Utility System as contemplated by Section 3.21, (b) any amount required to fund a Casualty Cost in excess of net insurance proceeds under Section 13.3(a) and (c) any other capital improvement to the Utility System (1) having an estimated cost in excess of $500,000, Adjusted for Inflation from the Closing Date to the date such estimate is made and (2) which, in the written opinion of an Engineering Firm, constitutes an expansion to or renewal, replacement or betterment of the Utility System and has a useful life of at least five years. Capital improvements to the Utility System may be aggregated and treated as a single capital improvement under clause (c) of this definition:(i) without prior Approval, when such capital improvements are undertaken to replace water mains or sewer lines and construction of each such capital improvement commences in the same calendar year or (b) with prior Approval when such capital improvements are in close geographic proximity and are reasonably related to each other from an engineering, efficiency or functional perspective, even though not all project phases can be commenced and/or completed within the same calendar year. All costs associated with the design (and re-design, if consistent with the provisions of Section 4.4(c)), engineering, procurement, construction, commissioning and final completion of all work described in the Major Capital Improvement Conceptual Design shall be included in determining whether a capital improvement project satisfies the requirement of having an estimated cost of at least $500,000, Adjusted for Inflation from the Closing Date to the date such estimate is made.

Major Capital Improvement means an adjustment of legal regulated rent pursuant to 9 NYCRR § 2522.4(a)(2).