Qualified Renovations definition

Qualified Renovations shall be defined as: (i) the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Second Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the Second Additional Space Commencement Date and (ii) up to but not exceeding the sum of $111,023.00 of Landlord’s Contribution may be applied towards the Soft Costs (as defined below) incurred in connection therewith. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term “Soft Costs” shall mean the cost of architectural, planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in connection with the performance of Tenant’s Second Additional Space Alteration Work.
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Qualified Renovations shall be defined as: (A) the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Third Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the Third Additional Space Commencement Date and (B) up to but not exceeding the sum of $16,175.00 of Landlord’s Third AS Contribution may be applied towards the Soft Costs (as defined below) incurred in connection therewith. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Third AS Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term “Soft Costs” shall mean the cost of architectural, planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in connection with the performance of Tenant’s Third Additional Space Alteration Work. Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall not be required to pay Landlord any inspection or supervisory fee (other than out-of-pocket third party expenses) in connection with any Qualified Renovations to the Third Additional Space.
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Qualified Renovations shall be defined as: (A) the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Fourth Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the Fourth Additional Space Commencement Date and (B) up to but not exceeding the sum of $49,192.00 of Landlord’s Fourth AS Contribution may be applied towards the Soft Costs (as defined below) incurred in connection therewith. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Fourth AS Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term “Soft Costs” shall mean the cost of architectural, planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in connection with the performance of Tenant’s Fourth Additional Space Alteration Work. Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall not be required to pay Landlord any inspection or supervisory fee (other than out-of-pocket third party expenses) in connection with any Qualified Renovations to the Fourth Additional Space.
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Examples of Qualified Renovations in a sentence

  • TAM was originally created to examine IT/IS adoption in business organizations.

  • Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Fourth AS Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same.

  • Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall not be required to pay Landlord any inspection or supervisory fee (other than out-of-pocket third party expenses) in connection with any Qualified Renovations to the Third Additional Space.

  • Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same.

  • Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Third AS Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same.

  • A document describing proposed Qualified Renovations for which the Applicant will seek a Cranberry Bog Renovation Tax Credit in a particular CTCY.

  • Notwithstanding anything to the contrary contained in this Article, from and after the Space B Commencement Date, all or any portion of the Space A Contribution may be applied towards Qualified Renovations made in and to the portion of the Premises designated as Space B, subject to, and to be disbursed in accordance with, the applicable provisions of this Article.

  • If and so long as Tenant is not in default under the Lease, subject to and in accordance with the provisions of this Article, Landlord shall contribute up to the sum of $355,880.00 ("Landlord's Contribution") to the cost of labor and materials for the portion of the Tenant’s Initial Alteration Work which constitutes Qualified Renovations.


More Definitions of Qualified Renovations

Qualified Renovations shall be defined as the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the date hereof and prior to twelve (12) months following the Space B Commencement Date. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, equipment, professional fees, workstations, work surfaces (whether or not affixed to walls and/or convector covers), related cabinetry, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same, provided, however, that notwithstanding anything to the contrary contained in this Article, a portion of Landlord’s Contribution up to but not exceeding the sum of $76,537.50 may be applied towards the cost of architectural, planning, engineering and filing fees (“Soft Costs”), subject to and to be disbursed in accordance with the applicable provisions of this Article.
Sample 1
Qualified Renovations means the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the Commencement Date and prior to the Work Completion Date. Without limitation, for purposes of this A rticle 10, Qualified Renovations shall be deemed not to include and Landlord’s Contribution hereunder shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, equipment, workstations, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same;
Sample 1
Qualified Renovations shall be defined as the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the date hereof and prior to November 1, 2006. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, equipment, professional fees, workstations, work surfaces (whether or not affixed to walls and/or convector covers), related cabinetry, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same.
Sample 1
Qualified Renovations shall be defined as the labor and materials used by Tenant to effect Tenant’s Cooling Tower Work in compliance with this Lease after the date hereof and prior February 1, 2007. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, equipment, professional fees, workstations, work surfaces (whether or not affixed to walls and/or convector covers), related cabinetry, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. Notwithstanding anything to the contrary contained herein, in the event that Tenant shall be prevented from performing or timely completing Tenant’s Cooling Tower Work in accordance with the terms, covenants and conditions of the Lease on or before February 1, 2007, by reason of strikes, lockouts, job actions, shortage or unavailability of supplies, governmental laws or regulations, riots, terrorism, insurrections, wars, acts of war or Acts of God (collectively “Force Majeure”), then, if and so long as Tenant, in good faith, uses reasonable efforts to comply with and with due diligence proceeds to perform Tenant’s Cooling Tower Work and meet all such obligations and requirements hereof, provided that Tenant gives to Landlord prompt written notice of both (i) its inability to perform and complete Tenant’s Cooling Tower prior to February 1, 2007, and (ii) the restoration of Tenant’s ability to perform Tenant’s Cooling Tower, then the period set forth in this Agreement for the performance of Tenant’s Cooling Tower Work shall be extended by one (1) day for each day of a delay solely caused. by any such Force Majeure until Tenant is no longer so prevented to perform Tenant’s Cooling Tower Work.
Sample 1
Qualified Renovations means the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the Commencement Date and prior to the Work Completion Date. Without limitation, for purposes of this Article 10, Qualified Renovations shall be deemed not to include and Landlord’s Contribution hereunder shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, equipment, workstations, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same;
Sample 1

Related to Qualified Renovations

  • Qualified rehabilitation expenditures means capital

  • 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.

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

  • Qualified buildings means construction of new structures,

  • 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.

  • 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).

  • 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.

  • 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.

  • Qualified building means a building built at least 30 years before the date of application, located within a designated downtown or, village center, or neighborhood development area, which, upon completion of the project supported by the tax credit, will be an income-producing building not used solely as a single-family residence. Churches and other buildings owned by religious organization may be qualified buildings, but in no event shall tax credits be used for religious worship.

  • 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.

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

  • Qualified Replacement Mortgage A Home Equity Loan substituted for another pursuant to Section 3.04, 3.05(b) or 3.06(b) hereof, which (i) has a Coupon Rate at least equal to the Coupon Rate of the Home Equity Loan being replaced, (ii) is secured by Property that is of the same or better property type as, or is a single family dwelling and the same or better occupancy status as, the Property securing the Home Equity Loan being replaced or is a primary residence, (iii) shall mature no later than the latest Final Scheduled Distribution Date with respect to the related Home Equity Loan Group, (iv) has a Loan-to-Value Ratio as of the Replacement Cut-Off Date no higher than the Loan-to-Value Ratio of the replaced Home Equity Loan at such time, (v) shall be of the same or higher credit quality classification (determined in accordance with the Seller’s credit underwriting guidelines set forth in the Seller’s underwriting manual) as the Home Equity Loan which such Qualified Replacement Mortgage replaces, (vi) shall be a First Mortgage Loan if the Home Equity Loan which such Qualified Replacement Mortgage replaces was a First Mortgage Loan and shall be a First Mortgage Loan or Second Mortgage Loan if the Home Equity Loan which such Qualified Replacement Mortgage replaces was a Second Mortgage Loan, (vii) has an outstanding principal balance as of the related Replacement Cut-Off Date equal to or less than the outstanding principal balance of the replaced Home Equity Loan as of such Replacement Cut-Off Date, (viii) shall not provide for a “balloon” payment if the related Home Equity Loan did not provide for a “balloon” payment (and if such related Home Equity Loan provided for a “balloon” payment, such Qualified Replacement Mortgage shall have an original maturity of not less than the original maturity of such related Home Equity Loan), (ix) shall be a fixed rate Home Equity Loan if the Home Equity Loan being replaced is in Group I or an adjustable rate Home Equity Loan if the Home Equity Loan being replaced is in Group II, (x) satisfies the criteria set forth from time to time in the definition thereof at Section 860G(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust, (xi) satisfies the representations and warranties set forth in Section 3.04(b) hereof, (xii) shall not be 30 days or more Delinquent and (xiii) if such Home Equity Loan being replaced is in Group II, shall adjust based on the same index as, have no lower margin than, have the same interval between adjustment dates as and have a maximum Coupon Rate no lower than, and a minimum Coupon Rate no lower than, the Home Equity Loan being replaced.

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

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

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • REIT Expenses means (i) costs and expenses relating to the formation and continuity of existence and operation of the General Partner and any Subsidiaries thereof (which Subsidiaries shall, for purposes hereof, be included within the definition of General Partner), including taxes, fees and assessments associated therewith, any and all costs, expenses or fees payable to any director, officer, or employee of the General Partner, (ii) costs and expenses relating to any public offering and registration of securities by the General Partner and all statements, reports, fees and expenses incidental thereto, including, without limitation, underwriting discounts and selling commissions applicable to any such offering of securities, and any costs and expenses associated with any claims made by any holders of such securities or any underwriters or placement agents thereof, (iii) costs and expenses associated with any repurchase of any securities by the General Partner, (iv) costs and expenses associated with the preparation and filing of any periodic or other reports and communications by the General Partner under federal, state or local laws or regulations, including filings with the Commission, (v) costs and expenses associated with compliance by the General Partner with laws, rules and regulations promulgated by any regulatory body, including the Commission and any securities exchange, (vi) costs and expenses associated with any 401(k) plan, incentive plan, bonus plan or other plan providing for compensation for the employees of the General Partner, (vii) costs and expenses incurred by the General Partner relating to any issuing or redemption of Partnership Interests, and (viii) all other operating or administrative costs of the General Partner incurred in the ordinary course of its business on behalf of or in connection with the Partnership.

  • Qualified REIT Subsidiary means any Subsidiary of the General Partner that is a “qualified REIT subsidiary” within the meaning of Section 856(i) of the Code.

  • 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:

  • Qualifying Expenditures means those expenditures for energy conservation measures that have a simple payback period of not less than one year and not more than 10 years and expenditures for the above-market costs of new renewable energy resources, provided that the Oregon Department of Energy may establish by rule a limit on the maximum above-market cost for renewable energy that is allowed as a credit.

  • Construction in Progress means each Property that is either (a) new ground up construction or (b) under renovation in which (i) greater than thirty percent (30%) of the square footage of such Property is unavailable for occupancy due to renovation and (ii) no rents are being paid on such square footage. A Property will cease to be classified as “Construction in Progress” on the earlier to occur of (A) the time that such Property has an Occupancy Rate of greater than eighty percent (80%), or (B) one hundred eighty (180) days after completion of construction or renovation of such Property, as applicable.

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

  • 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.

  • Major renovation means the renovation of a building where:

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

  • 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).

  • Qualified facility means a permanent facility within this state equipped for the production of motion pictures, television shows, or digital media production that meets all of the following requirements: