Material Capital Improvement definition

Material Capital Improvement. Any single or series of related Capital Improvements that would or does (i) have a total budgeted or actual cost (as reasonably evidenced to Landlord) (excluding land acquisition costs) in excess of Fifty Million and No/100 Dollars ($50,000,000.00) and (ii) either (a) materially alter the Facility (e.g., shoring, permanent framework reconfigurations), (b) expand the Facility (i.e., construction of material additions to existing Leased Improvements) or (c) add improvements to undeveloped portion(s) of the Land.
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Material Capital Improvement. Any repair, replacement, modification or addition to any of the Remaining Transition Facilities, including any of the Personal Property located therein, which has or is reasonably estimated to have a useful life in excess of twenty four (24) months.
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Material Capital Improvement means any capital improvement, where the aggregate amount spent by the Manager to complete such capital improvement exceeds an amount equivalent to: (i) Forty-Six Million Three Hundred Twenty Thousand ($46,320,000.00) Dollars (the “Base Capital Improvement Threshold Cost”) as of the first year of the Initial Term; plus (ii) for second year of the Initial Term, 1% of the Base Capital Improvement Threshold Cost; plus (iii) for each year of the Initial Term after the second year, 1% of the amount applicable during the previous year of the Initial Term, made by or on behalf of the Manager, at its sole cost and expense, to the Event Centre in addition to its maintenance, repair and replacement obligations under this Agreement, and which is determined by the Independent Engineer to materially extend the useful life of the Event Centre, taken as a whole, in accordance with Section 6.6 hereof, including, by way of example only, alterations or improvements to the Event Centre or any part thereof, the purpose of which is intended primarily to substantially upgrade the Event Centre (including, without limitation, any Building Systems forming part thereof) or substantially upgrade, expand or enlarge its facilities or systems or any portion thereof.
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Examples of Material Capital Improvement in a sentence

  • Within thirty (30) days of receipt of Tenant’s MCI Intent Notice, Landlord shall notify Tenant in writing as to whether Landlord (or, if applicable, its Affiliate) is willing to provide financing for such proposed Material Capital Improvement and, if so, the terms and conditions upon which Landlord (or, if applicable, its Affiliate) is willing to do so in reasonable detail, in the form of a proposed term sheet (such terms and conditions, “Landlord’s MCI Financing Proposal”).

  • For purposes of clarification, Tenant may use Cash to finance any applicable Material Capital Improvement (subject to the express terms and conditions hereof, including, without limitation, Tenant’s obligation to provide Tenant’s MCI Intent Notice).

  • The Manager shall be solely responsible for all costs and expenses associated with the Material Capital Improvement Report (and any confirmatory report required in connection therewith) and The City’s review thereof including, without limitation, all costs of the Independent Engineer associated therewith.

  • Any payment to The City in respect of The City’s cost to review the Material Capital Improvement Report shall be conditional on The City delivering to the Manager for its approval, acting reasonably, an estimated budget of such reasonable costs and expenses to review the Material Capital Improvement Report prior to any such costs and expenses being incurred by The City.

  • For clarity, the Parties agree that the Manager’s option for the Capital Improvement Extension Term shall remain effective regardless of the fact that the useful life of the Event Centre exceeded the duration of the Initial Term prior to the applicable Material Capital Improvement being completed.

  • Tenant shall restore the Leased Property (excluding any Tenant Material Capital Improvement, unless such Tenant Material Capital Improvement is integrated into the Facility such that the Facility could not practically or safely be operated without restoring such Tenant Material Capital Improvement) as nearly as reasonably possible under the circumstances to a complete architectural unit of the same general character and condition as the Leased Property existing immediately prior to such Taking.

  • Tenant shall restore the Leased Property (excluding any Tenant Material Capital Improvement, unless such Tenant Material Capital Improvement is integrated into the Facility such that the Facility could not practically or safely be operated without restoring such Tenant Material Capital Improvement) as nearly as reasonably possible under the circumstances to a complete architectural unit of the same general character and condition as the Leased Property existing immediately prior to such Taking; 15.


More Definitions of Material Capital Improvement

Material Capital Improvement. Any repair, replacement, modification or addition to any of the Remaining Transition Facilities, including any of the Personal Property located therein, which has or is reasonably estimated to have a useful life in excess of twenty four (24) months. Minimum Purchase Price: The Purchase Price for each Leased Property as set forth in Exhibit C hereto.
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Material Capital Improvement means any alteration or improvement to the Premises the cost of which (x) will exceed $100,000, and (y) is required to be capitalized under generally acceptable accounting principles, consistently applied (“GAAP”).
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Related to Material Capital Improvement

  • 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.

  • 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.

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Substantial improvement means any combination of repairs, reconstruction, rehabilitation, addition, or other improvement of a structure, taking place during any one-year period for which the cost equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed. The term does not, however, include either:

  • Maximum medical improvement means that no further material improvement would reasonably be expected from medical treatment or the passage of time;

  • Home improvement means the remodeling, altering,

  • Infrastructure improvement means permanent infrastructure that is essential for the public health and safety or that:

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

  • Material Alteration shall have the meaning set forth in Section 4.1.11.

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected.  Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Cost of Capital Improvement Projects means the costs of acquiring, constructing, reconstructing, expanding, improving and engineering Capital Improvement Projects, and related financing costs.

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Specialty Alterations means Alterations consisting of kitchens, executive bathrooms, raised computer floors, computer installations, vaults, libraries, internal staircases, dumbwaiters, pneumatic tubes, vertical and horizontal transportation systems, and other Alterations of a similar character.

  • Home improvement contractor or "contractor" means a person who sells goods and services, or agrees to furnish or render services, to a retail buyer pursuant to a home improvement installment contract, or sells goods and services to a retail buyer pursuant to a home improvement charge agreement, but not in connection with construction of new homes.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Infrastructure Improvements means a street, road, sidewalk, parking facility, pedestrian mall, alley, bridge, sewer, sewage treatment plant, property designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, waterway, waterline, water storage facility, rail line, utility line or pipeline, transit-oriented development, transit-oriented property, or other similar or related structure or improvement, together with necessary easements for the structure or improvement, owned or used by a public agency or functionally connected to similar or supporting property owned or used by a public agency, or designed and dedicated to use by, for the benefit of, or for the protection of the health, welfare, or safety of the public generally, whether or not used by a single business entity, provided that any road, street, or bridge shall be continuously open to public access and that other property shall be located in public easements or rights-of-way and sized to accommodate reasonably foreseeable development of eligible property in adjoining areas. Infrastructure improvements also include 1 or more of the following whether publicly or privately owned or operated or located on public or private property:

  • Project Improvements means site improvements and facilities that are:

  • Improvement Plan means the plan required by the Authority from the Supplier which shall detail how the Supplier will improve the provision of the Goods and/or Services pursuant to Clause 29.1.1 (Authority Remedies);

  • Commercial cannabis activity means the production, cultivation,

  • Continuous Improvement Plan means a plan for improving the provision of the Goods and/or Services and/or reducing the Charges produced by the Supplier pursuant to Framework Schedule 12 (Continuous Improvement and Benchmarking);

  • Home improvement contract means an oral or written

  • Major development means an individual “development,” as well as multiple developments that individually or collectively result in:

  • Independent expenditure means an expenditure by a person:

  • Autism spectrum disorder means a neuro-developmental condition typically appearing in the first three years of life that significantly affects a person's ability to communicate, understand relationships and relate to others, and is frequently associated with unusual or stereotypical rituals or behaviours.

  • Minimum Improvements means the acquisition of land and construction of a 64-unit market rate residential apartment building and related improvements. The Minimum Improvements are more fully depicted in Exhibit B, which is attached hereto and incorporated herein.