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 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...

Major Maintenance Budget shall have the meaning provided in Section 5.8(b).

Examples of Major Maintenance Budget in a sentence

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.
The Major Maintenance Budget shall be incorporated into and made a part of any required Approved Operating Budget for the Facility.
Except for insurance payments which may be received in respect of the same, Operator shall not be entitled to a Change Order in respect of Unscheduled Services or in connection with an addition to the Major Maintenance Budget to the extent attributable to negligence in the performance of its other obligations hereunder.
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.
If a Change in an Annual Operating Plan and Budget or a Major Maintenance Budget is required as a direct consequence of Excess Sales, Operator shall promptly notify Owner in detail of the nature and extent of such Change.
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.
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.
The minimum wage scales shall be paid Plant employees by classi fication as outlined below: Classification Eff.
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.
Demonstrating adherence to best practices also attracts grant funding and private investment, further bolstering financial resources.

More Definitions of Major Maintenance Budget

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”).

Major Maintenance Budget means a five year budget for the major maintenance requirements of the Project.

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.