Permitted Repairs definition

Permitted Repairs means, with respect to any newly acquired second-hand Vessel, repairs which, in the reasonable judgment of the Company, are required to be made to such Vessel upon acquisition and which are made within 120 days of the acquisition thereof.
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Permitted Repairs with respect to any newly acquired second-hand Vessel, repairs which, in the reasonable judgment of the Company, are required to be made to such Vessel upon acquisition and which are made within 120 days of the acquisition thereof (or commenced within 120 days of the acquisition if not capable of being completed within 120 days of the acquisition).
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Permitted Repairs means, with respect to any Substitute Vessel, repairs which, in the reasonable judgment of the Borrowers, are required to be made to such Substitute Vessel upon acquisition and which are made within 120 days of the acquisition thereof.
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Examples of Permitted Repairs in a sentence

  • The Capital Expenditure Spending Requirement shall only be satisfied by spending money on, and/or the Capital Expenditure Account shall only be used for, Permitted Repairs.

  • Tenant agrees that it shall spend annually an amount for each Leased Property equal to the product of (x) $350 (the "PER UNIT ALLOCATION"); and (y) the aggregate number of Units in such Leased Property, on Permitted Repairs (as hereafter defined)(the "ANNUAL CAPITAL EXPENDITURE SPENDING REQUIREMENT").

  • All such Permitted Repairs shall be deemed to be a part of the Premises and shall be performed subject to the terms of SECTIONS 11.1 and 11.2 hereof.


More Definitions of Permitted Repairs

Permitted Repairs means, with respect to any newly acquired second-hand Vessel, repairs which, in the reasonable judgment of the Company (which judgment shall be deemed reasonable if any such repair is required by the classification society or by any Permitted Flag Jurisdiction or any port state), are required to be made to such Vessel upon acquisition and which are made within 120 days of the acquisition thereof.
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Permitted Repairs means, with respect to any newly acquired second-hand Vessel or Container Asset, repairs which, in the reasonable judgment of the Issuer, are required to be made to such Vessel or Container Asset upon acquisition and which are made within 120 days of the acquisition thereof.
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Permitted Repairs means, with respect to any Vessel, repairs which, in the reasonable judgment of the Borrower, are necessary or required to be made to such Vessel.
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Permitted Repairs means repairs, replacements and capital and non-capital improvements to be made with respect to any Leased Property from time to time (including, without limitation, cosmetic repairs to the Leased Properties and repairs and replacements made with respect to any of Landlord's Personal Property), but in no event shall the Permitted Repairs includes repairs or additions to, or replacement of, any of Tenant's Personal Property. All such Permitted Repairs shall be deemed to be a part of the Premises and shall be performed subject to the terms of SECTIONS 11.1 and 11.2 hereof. On the express condition that no Event of Default then exists hereunder, Tenant may request, by written notice to Landlord (but not more than once per month), that Landlord disburse monies deposited in the Capital Expenditures Account for the purpose of making Permitted Repairs on any Leased Property and Landlord shall disburse monies on account of such Permitted Repairs promptly after the presentation of invoices therefor provided that: (i) such Permitted Repairs have been completed in a good, workmanlike and lien-free fashion and in compliance with all Legal Requirements and the terms of SECTION 11.2 applicable to any Alterations; and (ii) Tenant has paid for any Capital Expenditure Difference. If Tenant's capital expenditures at the Premises in any Lease Year shall exceed the Capital Expenditure Deposits for such Lease Year (such excess, the "CAPITAL EXPENDITURE DIFFERENCE"), Tenant shall pay the amount of such Capital Expenditure Difference towards the cost of such repairs, replacements and capital expenditures, before seeking funds from the Capital Expenditure Account. Any interest that accrues on the funds in the Capital Expenditure Account shall at all times remain in the Capital Expenditure Account. At the expiration of the Term, any funds remaining in the Capital Expenditure Account shall become the property of Landlord.
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Permitted Repairs shall have the meaning set forth in SECTION 11.3.1.
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Related to Permitted Repairs

  • Required Repairs shall have the meaning set forth in Section 7.1.1 hereof.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Repair or replacement means the restoration of vehicles, vessels, or outboard

  • Good repair means about eighty percent of materials and compo- nents are unbroken, have all their pieces, and can be used by children as intended by the manufacturer or builder.

  • Renovation means altering a facility or one or more facility components in any way, including the stripping or removal of RACM from a facility component. Operations in which load-supporting structural members are wrecked or taken out are demolitions.

  • Permitted Expenses means the reasonable and documented costs and expenses incurred by the Agents and the Lenders (and their respective agents or professional advisors) in connection with the preparation, administration, amendment and due diligence of this Agreement and the other Credit Documents and, which costs and expenses the Borrower shall reimburse to the Administrative Agent or shall pay or cause to be paid in accordance with the Credit Documents. “Permitted Expenses” shall include, without limitation, the expenses set forth in Sections 5.10 and 9.2 hereof.

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.

  • Major repair means either: (1) for a dispersal system, repairs required for an OWTS dispersal system due to surfacing wastewater effluent from the dispersal field and/or wastewater backed up into plumbing fixtures because the dispersal system is not able to percolate the design flow of wastewater associated with the structure served, or (2) for a septic tank, repairs required to the tank for a compartment baffle failure or tank structural integrity failure such that either wastewater is exfiltrating or groundwater is infiltrating.

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

  • refurbishment means repairing of used electrical and electronic equipment as listed in Schedule I for extending its working life for its originally intended use and selling the same in the market or returning to owner;

  • Common Areas and Facilities means collectively the Development Common Areas and Facilities and the Residential Common Areas and Facilities and all those parts and such of the facilities of the Development designated as common areas and facilities in any Sub-Deed;

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Construction-in-Process means cash expenditures for land and improvements (including indirect costs internally allocated and development costs) determined in accordance with GAAP for all Properties that are under development or will commence development within twelve months from any date of determination.

  • Permitted Occupier means if used in the Agreement, any person who is licensed or permitted by the Landlord to reside at the Property together with the Tenant and who does so as a rent free licensee of the Tenant.

  • Operating Expenditures means all Partnership Group cash expenditures (or the Partnership’s proportionate share of expenditures in the case of Subsidiaries that are not wholly owned), including taxes, compensation of employees, officers and directors of the General Partner, reimbursement of expenses of the General Partner and its Affiliates, debt service payments, Maintenance Capital Expenditures, repayment of Working Capital Borrowings and payments made in the ordinary course of business under any Hedge Contracts, subject to the following:

  • Alterations means all changes, additions, improvements or repairs to, all alterations, reconstructions, renewals, replacements or removals of and all substitutions or replacements for any of the Improvements or Equipment, both interior and exterior, structural and non-structural, and ordinary and extraordinary.

  • Excluded Expenditure means any expenditure:

  • Maintenance Capital Expenditures means, for any period, the portion of the aggregate amount of all Capital Expenditures of the Borrower for such period attributable to maintenance of property, plant or equipment of the Borrower and the Restricted Subsidiaries, as determined in good faith by a Responsible Officer of the Borrower.

  • 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.

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Emergency Repairs means repairs to a utility facility located in or adjacent to a primary city street that must be performed immediately when the necessity arises to safeguard life or property or maintain continued operation of the facility.