Major Capital Improvements definition

Major Capital Improvements has the meaning given in Section 3.6.

Major Capital Improvements means work having an estimated cost of $25,000 or more. Owner acknowledges that Manager, or an affiliate of Manager, may bid on any such work, and that Manager, or an affiliate of Manager, may be selected to perform part or all of the work; provided that if Manager desires to select itself, or its affiliate to do any work, it shall first notify Owner of the terms upon which it, or its affiliate, proposes to contract for the work, and terms upon which the independent contractors have offered to perform, and shall state the reasons for preferring itself, or its affiliate, over independent contractors and Owner shall have fifteen days to disapprove Manager, or its affiliate, and to request performance by an independent contractor. Only Owner shall have the power to compromise or settle any dispute or claim arising from work performed by Manager, or its affiliate; and it is expressly understood that the selection of Manager, or its affiliate, will not affect any fee or other compensation payable to Manager hereunder.

Major Capital Improvements means Capital Improvements for which the Borrower’s allocated share of costs pursuant to the CFAA is reasonably expected to be equal to or greater than $200,000,000.

Examples of Major Capital Improvements in a sentence

• Manager shall not be obligated by this Section to perform any Major Capital Improvements.

• If Owner and Manager fail to reach an agreement for Manager’s additional compensation as provided in this Section 3.6, Owner may contract with a third party to supervise installation or construction of Major Capital Improvements.

• When requested by Owner in writing or as set forth in an Approved Business Plan, Manager or an affiliate thereof shall, at Owner’s expense and in Owner’s name or in Manager’s name as agent for Owner, supervise the installation and construction of all Major Capital Improvements to the Property where such work constitutes other than normal maintenance and repair, for additional compensation as set forth in a separate agreement.

• If Owner and Manager or its affiliate fail to reach an agreement for Manager’s additional compensation as provided in this Section 3.6, Owner may contract with a third party to supervise installation or construction of Major Capital Improvements, in which event Manager shall reasonably cooperate with such third party to provide access to the Property.

• When reasonably requested by Owner in writing or as set forth in an Annual Business Plan, Manager, in its capacity as manager pursuant to this Agreement, or an affiliate of Manager shall, at Owner’s expense, supervise the installation and construction of all Major Capital Improvements to the Property where such work constitutes other than normal maintenance and repair, for additional compensation to be set forth in a separate agreement and with the scope of responsibilities to be set forth therein.

More Definitions of Major Capital Improvements

Major Capital Improvements means work having an estimated cost of $25,000 or more. If Owner and Manager fail to reach an agreement for Manager’s additional compensation as provided in this Section 3.6, Owner may contract with a third party to supervise installation or construction of Major Capital Improvements.

Major Capital Improvements means improvements costing more than $5,000 per occurrence.

Major Capital Improvements means substitutions, replacements, refurbishments, repairs, alterations, and maintenance to the Stadium of the nature described in Section 7.03 intended to enhance the overall value of the property and increase its useful life.

Major Capital Improvements has the meaning given in Section 3.6. "l\fanngcmcnt Fee" has the meaning given in Section 4.1. "l\1anagcr" has the meaning given in the introductory paragraph. "Operating Budget" has the meaning given in Section 3.11 (a). "Owner" has the meaning given in the introductory paragraph. "Owner's Representative" has the meaning given in Section 2.2. "Pass-Through Amounts" means fees and/or reimbursements for services provided to the Property but not covered by the Management Fee, as described in Exhibit A attached hereto and made a part hereof. "Propcrtv" means the multifamily apartment project listed and described on Exhibit B attached hereto and made a part hereof. "Securitv Deposit Account" has the meaning given in Section 5.1. "fill!!!:" means the state in whlch the Property is located. ARTICLE2 APPOINTMENT OF AGENCY AND RENTAL RESPONSIBILITY Section 2.1

Major Capital Improvements means any program of capital improvements, renovation or refurbishing involving an addition to the Vessel, or renovation or refurbishing designed to substantially upgrade or change the nature or image of the Vessel (as opposed to a renovation or refurbishing which takes place as part of the normal or cyclical upkeep of the Vessel). Major Capital Improvements will be undertaken only at the request of Owner.

Major Capital Improvements has the meaning given in Section 3.6. "Management Fee" has the meaning given in Section 4.1. "Manager" has the meaning given in the introductory paragraph. "Operating Budget" has the meaning given in Section 3.1 l(a). "Owner" has the meaning given in the introductory paragraph. "Owner's Representative" has the meaning given in Section 2.2. "Pass-Through Amounts" means fees and/or reimbursements for services provided to the Property but not covered by the Management Fee, as described in Exhibit A attached hereto and made a part hereof. "Property" means the multifamily apartment project listed and described on Exhibit B attached hereto and made a part hereof. "Security Deposit Account" has the meaning given in Section 5.1. "State" means the state in which the Property is located. ARTICLE2 APPOINTMENT OF

Major Capital Improvements means and refers to any major component of the Development for which the Association has the maintenance, repair, and replacement responsibility under the Declaration. If a Major Capital Improvement has a useful life of thirty