Major Maintenance Budget definition

Major Maintenance Budget means the major maintenance budget as further described in Section 5C. of this Agreement.
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Major Maintenance Budget means a five year budget for the major maintenance requirements of the Project.
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Major Maintenance Budget means the major maintenance budget for the relevant Operating Year itemized on a monthly basis for all Major Maintenance included in the operating plan for such Operating Year.
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Examples of Major Maintenance Budget in a sentence

  • The Major Maintenance Budget shall be incorporated into and made a part of any required Approved Operating Budget for the Facility.

  • The Major Maintenance Budget shall consist of an itemization of each maintenance project equal to or in excess of $50,000 (large projects) and a combined total of all items less than $50,000 each (small projects) for the following calendar year.

  • Operator shall also prepare and deliver to Owner by October 1 of each Operating Year a proposed Major Maintenance Budget that shall include a plan and budget for major maintenance tasks (including major Project and Leased Equipment repairs) for the five-year period commencing with the subsequent Operating Year.

  • If a Change in an Annual Operating Plan and Budget or a Major Maintenance Budget is required as a direct consequence of either a Change in Law or a Change in Project Agreements, Operator shall promptly notify Owner in detail of the nature and extent of such Change.

  • If a Change in an Annual Operating Plan and Budget or a Major Maintenance Budget is required as a direct consequence of (i) the replacement of Millennium's existing Boilers 5 and 6, or (ii) a breaking of or accident to equipment, Operator shall promptly notify Owner in detail of the nature and extent of such Change.

  • If Owner and Operator cannot agree on a Major Maintenance Budget by the start of the first year of such Major Maintenance Budget, the Major Maintenance Budget shall be as determined by Owner.

  • The Major Maintenance Budget shall consist of an itemization of each maintenance project equal to or in excess of $ 25,000 (large projects) and a combined total of all items less than $ 25,000 each (small projects) for the following calendar year.

  • The Parties acknowledge that Changes may be required during the term of this Agreement to an Annual Operating Plan and Budget or a Major Maintenance Budget.

  • The Major Maintenance Budget, which is a subsection of the Capital Improvement Budget, is a five-year budget.

  • No Change to an Annual Operating Plan and Budget or a Major Maintenance Budget shall be undertaken by Operator prior to the execution by Owner of a written Change Order approving such change; provided, however, that Operator shall be entitled to implement a proposed Change without the prior approval of Owner if such Change is required due to an Emergency.


More Definitions of Major Maintenance Budget

Major Maintenance Budget. The Major Maintenance Budget shall consist of an itemization of each maintenance project equal to or in excess of $100,000 (large projects) and a combined total of all items less than $100,000 each (small projects) for the following calendar year.
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Major Maintenance Budget shall have the meaning provided in Section 5.8(b).
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Major Maintenance Budget will be an annual budget, submitted no later than December 1 of each year to the Local Trustee, the Indenture Trustee and each Rating Agency, which will set forth the major maintenance expenditures for the next calendar year. The required balance of the Major Maintenance Reserve Account will be adjusted periodically so that such amount at any time will equal the sum of (a) the amount (which amount will be set forth on a schedule to the Indenture, as updated from time to time in accordance with the most recent Independent Engineering Report (as defined below under “— Principal Covenants of ICA Panama”)) scheduled to be spent over the course of the next 24 months in respect of major repair and maintenance of the Corredor Sur and (b) for any date of determination prior to December 31, 2007, US$1,000,000 (the “Required Major Maintenance Reserve Balance”).
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Major Maintenance Budget means the major maintenance budget for the relevant Operating Year itemized on a monthly basis for all Major Maintenance included in the operating plan for such Operating Year. Major Project Documents shall mean the documents listed in Schedule XVI. Major Project Parties shall mean each of the counter-parties to any Major Project Document or collectively all of them as the case may be. Management shall mean the Persons appointed by the Borrower to operate and manage the business and operations of the Borrower. Material Adverse Effect shall mean the effect or consequence of an event, circumstance, occurrence or condition which has caused, as of any date of determination, or could reasonably be expected to cause a material and adverse effect on: (i) the financial condition, business or operation of the Borrower or any person who is party to the Transaction Document including any material adverse effect on profits, production or sales; (ii) the ability of the Borrower to perform its obligations under the Financing Documents or any Project Documents, or the ability of any Material Project Participant (other than the Borrower) to perform its obligations under the Financing Documents or the Project Documents; (iii) the ability of the Borrower to exercise or enforce any right, benefit, privilege or remedy under any Project Document or approvals for the Project; (iv) the ability of the Borrower or any Material Project Participant to comply in all respects with the terms or conditions of any approvals for the Project; (v) the validity or enforceability of any of the Financing Documents (including the ability of any Secured Party to enforce any of its remedies under any thereof), the Project Documents or the approvals for the Project; (vi) the validity or enforceability of the Security Documents or Permitted Security Interest of the Secured Parties; (vii) prejudicial to the Project; or (viii) the Secured Parties’ ability to benefit from the assignment of the Borrower’s right of possession in respect of the Project which adverse effect, in the case of any such event, circumstance, occurrence or condition which has already occurred as of such date of determination, remains in effect or has not otherwise been fully remedied or alleviated as of such date. Material Project Participant shall mean the Borrower, the Sponsor, any Person which provides guarantees in respect of the performance of any operator appointed in respect of the Project or any portion thereof, the Offt...
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Related to Major Maintenance Budget

  • Major maintenance means the adjustment, repair or replacement of a component or module that could affect the accuracy of a measurement.

  • Generator Maintenance Outage means the scheduled removal from service, in whole or in part, of a generating unit in order to perform necessary repairs on specific components of the facility, if removal of the facility meets the guidelines specified in the PJM Manuals.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Research Budget has the meaning set forth in Section 2.2.

  • Development Budget has the meaning set forth in Section 3.1.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Project Year means the twelve-month period beginning from the Effective Date and ending twelve months thereafter (the First Project Year), and any twelve-month period beginning at the end of the First Project Year, or the end of subsequent Project Years;

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Maintenance Capital Expenditure means cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by a Group Member made to maintain, over the long term, the operating capacity or operating income of the Partnership Group. For purposes of this definition, “long term” generally refers to a period of not less than twelve months.

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • Corrective Maintenance means the maintenance which is required when an item has failed or worn out, to bring it back to working order, which may also include those services necessary to partially restore, renew or strengthen an existing Department facility or system, following damage caused by use or normal wear and tear.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Project area budget means a multiyear projection of annual or cumulative

  • Operation and Maintenance Costs means the costs of:

  • Maintenance Capital Expenditures means cash expenditures (including expenditures for the addition or improvement to the capital assets owned by any Group Member or for the acquisition of existing, or the construction of new, capital assets) if such expenditures are made to maintain, including over the long term, the operating capacity or revenues of the Partnership Group.

  • Preventative Maintenance means the routine, customary or regular course of procedure related to the care or upkeep of an existing Department facility or system, which may also include inspection services provided as part of a preventative maintenance program. Preventive maintenance is conducted to keep equipment working and/or extend the life of the equipment.

  • Monthly Maintenance Statement shall have the meaning set forth in Clause 19.6;

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • Consolidated Maintenance Capital Expenditures means, for any period, the aggregate amount of expenditures for additions to property, plant, and equipment that are not Consolidated Expansion Capital Expenditures.

  • Maintenance Term means the period of time for which Customer has purchased Maintenance Services, as evidenced by the Purchase Order delivered by Customer in connection therewith, together with all renewals effected in accordance with Section 4 of this Agreement.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Routine maintenance means actions performed on a regular or controllable basis or in response to uncontrollable events upon a highway, road, street, or bridge. Routine maintenance includes, but is not limited to, 1 or more of the following: