Refurbishment Costs definition

Refurbishment Costs means, in respect of each Unit, all costs and expenses of the Generator, whether direct or indirect, of any nature or kind, incurred in connection with, arising from, or related to the Refurbishment Work of such Unit, determined on an accrual basis in accordance with GAAP, and including development, design, engineering, procurement, project management, construction, installation, hedging for currency relating solely to Refurbishment Costs and materials to be used in the Refurbishment Work (but, for certainty, not for speculative purposes), commissioning and inspection costs and expenses and, for greater certainty, One- Time Costs (if applicable), whether capitalized or expensed by the Generator, but excluding staff costs of employees of the Generator whose compensation has previously been included as staff costs for the purposes of determining Operating Costs, except to the extent that such employees have been replaced by one or more individuals performing substantially similar duties, and excluding other Operating Costs that would have been incurred at the same time such Refurbishment Work was undertaken irrespective of whether or not the Refurbishment Work was undertaken.
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Refurbishment Costs means costs incurred to upgrade the Premises and return the Premises to original condition or convert display advertising units to new concepts, including modernization/redesign by replacement of furnishings, fixtures and finishes and construction of Improvements, costs of architectural design and engineering fees, outside project management, installation and preparation of all assets for their intended use, general contractors, sub-contractors, franchise fees, taxes, permits, insurance and construction bonds; but excluding the costs of interest during construction and the internal costs of Agent’s employees.
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Refurbishment Costs means the actual costs of refurbishing the unit (including fixtures and fittings) along with the Trust’s chattels to the same standard or the same condition as the unit or chattels were in at the commencement date, less fair wear and tear.  Representative means a person:
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Examples of Refurbishment Costs in a sentence

  • In the event that the audit of Refurbishment Costs or Contract Price Adjustment establishes that any Refurbishment Costs or Asset Management Costs were improperly allocated, recorded or otherwise reflected in the Contract Price, then, subject to agreement of the Parties or resolution of the dispute pursuant to Section 18.2, the Contract Price shall be adjusted accordingly.

  • The Contingency provided for in this Section 2.6(e) shall not be added to the actual Refurbishment Costs of any activity comprising the Refurbishment Work of the subject Unit that has been fully completed prior to the Refurbishment Lock-in Date of such Unit.

  • If the Counterparty claims that the Generator has made an error in the scope of the Refurbishment Work to be undertaken or in the calculation of the amount of Fully-Scoped Refurbishment Costs the Counterparty shall notify the Generator together with a reasonably detailed explanation of the reasons therefor.

  • If the Refurbishment Allowance is not fully utilized by Tenant to help reimburse Tenant for such Refurbishment Costs within the Refurbishment Allowance Availability Period, then such unused amounts shall revert to Landlord and Tenant shall have no further rights with respect thereto.

  • Payment of all unamortized costs associated with this Lease, consisting of Tenant Improvements Costs, Commission Costs, Architectural Costs, Free Rent, Signage Costs, Refurbishment Costs, and any Miscellaneous Costs provided by Landlord; such amortization will be on a straight line basis over the term of the Lease.

  • Tenant shall not be entitled to receive any portion of the Refurbishment Allowance that is not used to pay for the Refurbishment Costs of the Refurbishment Work or the FF&E Costs of the purchase and installation of the FF&E performed during the Refurbishment Period, and any such unused amounts of the Refurbishment Allowance as of the end of the Refurbishment Period shall revert to Landlord and Tenant shall have no further rights with respect thereto.

  • If the Cafeteria Space Allowance is not fully utilized by Tenant to help reimburse Tenant for such Cafeteria Space Refurbishment Costs within the Cafeteria Space Allowance Availability Period, then such unused amounts shall revert to Landlord and Tenant shall have no further rights with respect thereto (including receipt of any rent credit or free rent).

  • In addition, except as otherwise provided hereinbelow, Tenant shall not be entitled to receive any portion of the Refurbishment Allowance that is not used to pay for the Refurbishment Costs of the Refurbishment Work performed during the Refurbishment Period, and any such unused amounts of the Refurbishment Allowance as of the end of the Refurbishment Period shall revert to Landlord and Tenant shall have no further rights with respect thereto.

  • Such Excess Refurbishment Costs, if any, may be estimated by Landlord from time to time prior to and/or during the design, construction, acquisition and installation of the Refurbishment Work, and Tenant shall pay such Excess Refurbishment Costs (as so estimated by Landlord) to Landlord within ten (10) days after Tenant's receipt of written invoice therefor.

  • Tenant shall be solely responsible for all such Excess Refurbishment Costs.


More Definitions of Refurbishment Costs

Refurbishment Costs means (a) the Eligible Delivered Costs but excluding (b) eighty five per cent. (85%) of the Contract Price and the Atradius Premium.
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Refurbishment Costs has the meaning ascribed to it in Exhibit 3.5. “Refurbishment Costs Tables” has the meaning ascribed to it in Exhibit 3.5.
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Refurbishment Costs mean, and shall be limited to, the costs incurred by Tenant for (i) the cost of all labor and materials and supplies incurred for the Refurbishments, and (ii) the cost of all contractor, architectural, engineering and design fees (including the costs incurred in connection with the preparation of any preliminary and final plans and construction documents) for the Refurbishments. Prior to commencement of construction of any Refurbishments, Tenant shall provide to Landlord detailed plans of such Refurbishments, including all architectural, mechanical and electrical working drawings (if applicable), prepared by licensed architects and professionals, and a construction budget for such Refurbishments detailing estimated Refurbishment Costs for such Refurbishments and a completion schedule. In connection with the Refurbishments, Tenant shall pay to Landlord a construction management fee in the amount of five percent (5%) of the total of all Refurbishment Costs (the “CM Fee”), which CM Fee shall be paid for from the Refurbishment Allowance; provided, however, that such CM Fee shall not be applicable to any Refurbishment Costs incurred by Tenant solely in connection with (A) the acquisition and installation of carpet in the Premises, and/or (B) any painting of the Premises. From time to time, but in no event more than once monthly, Tenant may submit requests to Landlord for reimbursement to Tenant for Refurbishment Costs paid by Tenant up to the then-available balance of the Refurbishment Allowance, such to be accompanied by invoices reflecting such costs and evidence of payment, including lien waivers, and such other documentation and evidence of payment as Landlord may reasonably require as a condition to reimbursement through the Refurbishment Allowance. Subject to the foregoing, Landlord shall disburse the requested amount to Tenant equal to the lesser of (a) the amount requested for disbursement, or (b) the then-available balance of the Refurbishment Allowance, within forty-five (45) days after receipt of Tenant’s request (which must include all of the requirements set forth above) and provided that Landlord shall make disbursements of the Refurbishment Allowance only for Refurbishment Costs. Landlord shall not be obligated to make any disbursement of the Refurbishment Allowance during the pendency of any of the following: (1) Landlord has received written notice of any unpaid claims relating to any portion of any Refurbishments or other work by Tenant in the...
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Related to Refurbishment Costs

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • 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;

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to: