Maximum Capital Expenditures definition

Maximum Capital Expenditures. As of the end of any Fiscal Year, permit Capital Expenditures for such Fiscal Year to exceed the corresponding amount set forth below: -------------------------- -------------------------------------------- Fiscal Year Maximum Capital Ending Expenditures (in thousands) -------------------------- -------------------------------------------- 12/31/02 70,000 12/31/03 65,000 12/31/04 64,000 12/31/05 63,000 12/31/06 72,000 12/31/07 80,000 12/31/08 61,000 -------------------------- -------------------------------------------- ; PROVIDED, that if the Borrowers make Capital Expenditures in any Fiscal Year (other than any Fiscal Year all or a part of which was included in the Stage 1 Covenant Period) in an amount less than the amount set forth above for any such Fiscal Year (such unused amount for any single Fiscal Year, or the cumulative unused amount for any number of Fiscal Years, as applicable, referred to below as the "Stage 2 Carryover Amount"), then (i) the Borrowers may make Capital Expenditures in any succeeding fiscal year in an amount not to exceed the sum of (A) the amount set forth above for such fiscal year and (B) the Stage 2 Carryover Amount and (ii) for purposes of determining whether any Capital Expenditure exceeds the maximum amount permitted for any given Fiscal Year, the Capital Expenditure for such Fiscal Year shall be applied first to the Stage 2 Carryover Amount then outstanding.
Sample 1
Maximum Capital Expenditures. The Company would not be permitted to make any capital expenditures in excess of $1,750,000 in the aggregate in any year. In addition to these covenants, the loan agreements would contain prohibitions against assuming liabilities or obligations of others, restrictions of dividend payments, limitations on the purchase or sale of equipment and fixed assets, limitations on compensation of officers, limitations on selling assets, restrictions concerning acquisitions, consolidations, mergers, investments or similar transactions, and restrictions on changes in the Company's organizational structure or its management. The Company would also be required to obtain a life insurance policy on its Chief Executive Officer in the amount of $3,500,000 and to comply with other covenants typical for a transaction of this nature. Conditions Precedent to the Financing. The Bank's obligation to close on the financing described in the Commitment is subject to the condition that there be no material adverse change in the financial condition or business operations of the Company or its landlord, URSA, or in any of the assets of the Company or URSA, or in government regulation or monetary policy. If there is any material adverse change in the Company's business operations, assets or prospects for performance before the closing on the financing, the Bank may terminate the Commitment. Risk Factors. If we are unable to close the financing transaction with the Bank, then we will attempt to procure alternative financing for the purchase of the shares. There can be no assurance that we will be able to find alternative financing on acceptable terms or at all. We intend to repay the loan from the Bank through cash flow from operations.
Sample 1
Maximum Capital Expenditures the amount set forth in Section 6.4 (Limitation on Capital Expenditures) for the fiscal year then ending.
Sample 1

Examples of Maximum Capital Expenditures in a sentence

  • Borrower covenants and agrees with Lender that, while this Agreement is in effect, Borrower will: Maximum Capital Expenditures.

  • The Maximum Capital Expenditures Amount for fiscal year 2004 shall be reduced by $150,000 for each 100,000,000 board feet of timber sold during fiscal year 2004 and each fiscal year thereafter with any such decrease to carry over to subsequent fiscal years.

  • The act of dividing up projects, or component parts of a project that are reasonably related, for the purposes of keeping a Proposed Project below the Substantial Capital Expenditure Minimum or to decrease the Maximum Capital Expenditures.

  • The Borrower will not, and will not permit any Subsidiary to, incur or make aggregate Capital Expenditures during any period set forth below in an amount exceeding the amount set forth opposite such period: Period Maximum Capital Expenditures Borrower’s Fiscal Year $ 10,000,000.00 The unused portion of permitted Capital Expenditures in any fiscal year cannot be carried over to a subsequent fiscal year.

  • The EBITDA of Avid and its Subsidiaries for each period set forth below will not be less than the amount set forth opposite such period below:Period Minimum EBITDA 1/1/2014 to 12/31/2014 $33,800,000 7.3 Maximum Capital Expenditures.

  • The Maximum Capital Expenditures Amount for fiscal year 2003 shall be reduced by $450,000 for each 100,000,000 board feet of timber sold during fiscal year 2003 (excluding the sale of that property known as the Inland Tree Farm) with such decrease to carry over to subsequent fiscal years.

  • FINANCIAL COVENANTS: Financial covenants shall include, but not be limited to, Asset Coverage Test (as defined below); Maximum Total Leverage Ratio; Minimum Fixed Charge Coverage and Maximum Capital Expenditures.

  • If, at any time, Excess Availability is less than $20,000,000, then Borrower shall, at all times, maintain EBITDA of not less than$100,000,000.9.14 Maximum Capital Expenditures.

  • For the purposes of establishing final rates of payment, special provisions, as defined in114.2 CMR 2.12(6), will be utilized to determine Maximum Capital Expenditures for facilities exempt from the Department of Public Health Determination of Need process pursuant to its "Guidelines For Determination of Need Exemptions for Long-Term Care Beds Constructed in Urban Underbedded Areas".

  • Maintain at all times: Maximum Capital Expenditures <$8 million $_________ Yes No Adjusted Quick Ratio 1.25:1.00 ______:1.00 Yes No Adjusted EBITDA * $_________ Yes No *As set forth in Section 6.9(c) of the Agreement.


More Definitions of Maximum Capital Expenditures

Maximum Capital Expenditures. For each Fiscal Year, permit the sum of (i) Capital Expenditures and (ii) payments made in respect of any IRU, in the aggregate, for such Fiscal Year to exceed the corresponding amount set forth below: --------------------------------------------------------------------------- Fiscal Year Maximum Capital Ending Expenditures (in thousands) --------------------------------------------------------------------------- 12/31/02 $ 35,000 12/31/03 $ 39,000 12/31/04 $ 43,000 12/31/05 $ 52,000 12/31/06 $ 59,000 12/31/07 $ 66,000 12/31/08 $ 74,000 ---------------------------------------------------------------------------
Sample 1
Maximum Capital Expenditures. Capital expenditures for any fiscal year shall be less than certain specified amounts to be determined by the Noteholder and the Company. Minimum Liquidity: To be determined. Minimum EBITDA: To be determined. Notwithstanding anything herein to the contrary, the foregoing covenants and ratios will be established by good faith negotiation between the parties, consistent with reasonable projections and the needs of the business. Covenants and Other Usual and customary for transactions of this type, Terms and Conditions: including, without limitation (all subject to exceptions to be provided in the Promissory Note Documents):
Sample 1
Maximum Capital Expenditures. The Borrowers shall not permit or suffer to exist Capital Expenditures which aggregate more than the amounts set forth below: Fiscal Year 2000: $6,500,000. Fiscal Year 2001: $7,000,000. In addition to the above referenced capital expenditures limitations, the Borrowers may spend up to $1,000,000 in fiscal year 2000 to acquire certain existing stores from a competitor, so long as it is in compliance with the Loan Documents.
Sample 1
Maximum Capital Expenditures. For any fiscal year, Capital Expenditures shall not exceed $1 million.
Sample 1
Maximum Capital Expenditures. For the period from January 1, 1999 through December 31, 1999, the Borrower shall not incur consolidated Capital Expenditures (as defined in accordance with generally accepted accounting principles) in excess of the aggregate amount $2,000,000.00, and no more than the following amounts for each of the following periods: Dates Amount ----- ------ 1/1/99 through 3/31/99 $500,000.00 4/1/99 through 6/30/99 $500,000.00 7/1/99 through 9/30/99 $500,000.00 10/1/99 through 12/31/99 $500,000.00 In addition, for the period commencing January 1, 2000 through and including March 31, 2000, the Borrowers shall not incur consolidated Capital Expenditures in excess of $250,000.00. The Borrowers may obtain lease facilities and/or purchase money financing to fund the above referenced Capital Expenditures.
Sample 1
Maximum Capital Expenditures. Permit Capital Expenditures (i) as at the end of any fiscal year, to exceed (A) $210,000,000 in the case of the fiscal year ending in September 1998, or (B) $150,000,000 in the case of any fiscal year thereafter; and (ii) as of the end of the two consecutive fiscal years ending in September 1999, to exceed $350,000,000. 1.3.20 Section 6.02 of the Credit Agreement is amended by adding at the end thereof the following:
Sample 1

Related to Maximum Capital Expenditures

  • Net Capital Expenditures means for any period the amount by which Capital Expenditures during such period exceeds reimbursements for such items during such period from any fund established pursuant to the Loan Documents.

  • Permitted Capital Expenditures has the meaning given that term in Section 9.12(b).

  • Unfinanced Capital Expenditures means, for any period, Capital Expenditures made during such period which are not financed from the proceeds of any Indebtedness (other than the Revolving Loans; it being understood and agreed that, to the extent any Capital Expenditures are financed with Revolving Loans, such Capital Expenditures shall be deemed Unfinanced Capital Expenditures).

  • Investment Capital Expenditures means capital expenditures other than Maintenance Capital Expenditures and Expansion Capital Expenditures.

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • 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.

  • Consolidated Capital Expenditures means, for any period, the aggregate of all expenditures of Company and its Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment or similar items”, or that should otherwise be capitalized, as reflected in the consolidated statement of cash flows of Company and its Subsidiaries.

  • Capital Expenditures means, with respect to any Person for any period, the aggregate amount of all expenditures (whether paid in cash or accrued as a liability) by such Person during that period for the acquisition or leasing (pursuant to a Capital Lease) of fixed or capital assets or additions to property, plant, or equipment (including replacements, capitalized repairs, and improvements) which should be capitalized on the balance sheet of such Person in accordance with GAAP.

  • 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.

  • Non-Financed Capital Expenditures means, for any period, Capital Expenditures during such period other than Capital Expenditures funded with the proceeds of Indebtedness (excluding ABL Revolving Loans).

  • Capital Expenditure Reserve means, on an annual basis, an amount equal to $0.15 per square foot for each property owned by a Borrower or the Parent (or a Subsidiary thereof).

  • 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.

  • Unfunded Capital Expenditures means capital expenditures made from the Borrower’s funds other than funds borrowed as term debt to finance such capital expenditures.

  • Annual Capital Expenditure Adjustment means, for any retail Property, an amount equal to the product of (a) $0.15 multiplied by (b) the aggregate net rentable area (determined on a square feet basis) of all such Properties.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • 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.

  • Capital Expenditure means expenditure on: a) the acquisition of land and buildings; b) the erection, enlargement, improvement or demolition of any building including fixed plant, installation, wall, fence or other structure, or any playground or hard standing;

  • local expenditures means expenditures in the currency of the Borrower or for goods or services supplied from the territory of the Borrower; and

  • Planned Expenditures shall have the meaning provided in the definition of the term Excess Cash Flow.

  • Uncovered expenditures means the costs to the health maintenance organization for health care services that are the obligation of the health maintenance organization, for which an enrollee may also be liable in the event of the health maintenance organization's insolvency and for which no alternative arrangements have been made that are acceptable to the commissioner.

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Capitalized Expenditures means those expenditures that (i) would be capitalized under generally accepted accounting principles, and (ii) are incurred with respect to Shared-Loss Loans, Other Real Estate, Additional ORE or Subsidiary ORE. Capitalized Expenditures shall not include expenses related to environmental conditions including, but not limited to, remediation, storage or disposal of any hazardous or toxic substances or any pollutant or contaminant.

  • Emergency Expenditures means any of the eligible expenditures set forth in the CERC Manual referred to in Section I.F of Schedule 2 to this Agreement and required for the Contingent Emergency Response Part.

  • Qualified expenditures means capital expenditures that qualify, or would qualify except that the taxpayer entered into an agreement under subsection (13), for a rehabilitation credit under section 47(a)(2) of the internal revenue code if the taxpayer is eligible for the credit under section 47(a)(2) of the internal revenue code or, if the taxpayer is not eligible for the credit under section 47(a)(2) of the internal revenue code, the qualified expenditures that would qualify under section 47(a)(2) of the internal revenue code except that the expenditures are made to an historic resource that is not eligible for the credit under section 47(a)(2) of the internal revenue code that were paid. Qualified expenditures do not include capital expenditures for nonhistoric additions to an historic resource except an addition that is required by state or federal regulations that relate to historic preservation, safety, or accessibility.

  • Independent expenditure means an expenditure by a person: