Routine Capital Improvements definition

Routine Capital Improvements means all maintenance, repairs, alterations, improvements, replacements, renewals and additions to the Managed Facility (including replacements and renewals of FF&E, exterior and interior painting, resurfacing of walls and floors, resurfacing parking areas and replacing folding walls) that are capitalized under GAAP and not depreciated as real property. For avoidance of doubt, Routine Capital Improvements expressly exclude Building Capital Improvements and ROI Capital Improvements.
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Routine Capital Improvements shall have the meaning set forth in the Mortgage Loan Agreement.
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Routine Capital Improvements means (i) all routine and ordinary course maintenance, repairs, alterations and replacements of or to the Properties (including to the existing structures or exterior façades, and the mechanical, electrical, plumbing, HVAC, vertical transport and similar components of, any of the Properties), such as exterior and interior painting, resurfacing of walls and floors, resurfacing parking areas and replacing folding walls, and (ii) replacements of FF&E and supplies, all to the extent that the same are capitalized under GAAP. For the avoidance of doubt, “Routine Capital Improvements” shall not include expansion or “growth” projects.
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Examples of Routine Capital Improvements in a sentence

  • Manager, at Tenant’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved in writing by Tenant.

  • It is specifically understood and agreed that amounts expended on account of FF&E and on account of any Routine Capital Improvements from the FF&E Reserve Fund shall not be included in any deductions required pursuant to subclause (2) of the preceding sentence and, in addition, that any FF&E that is purchased and any Routine Capital Improvements that are paid for using funds from the FF&E Reserve Fund may not be subsequently financed by Mortgage Borrower or Operating Company.

  • Manager, at Owner’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved in writing by Owner.

  • If any repairs or Routine Capital Improvements and Capital Improvements shall be made necessary by any condition against the occurrence of which the builder of any renovation or construction or any supplier of labor or materials for the Condo-Hotel or any other party has provided a guaranty or warranty, then Operator shall use all commercially reasonable efforts to enforce such guaranty or warranty, and Owner will reasonably cooperate with Operator in such efforts.

  • For avoidance of doubt, Routine Capital Improvements expressly exclude Building Capital Improvements and ROI Capital Improvements.

  • Manager, at Owner’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved by Owner.

  • It is critical that you do not disclose or distribute that information except as authorized by ALCHEMY and that you follow all ALCHEMY and your employer’s safeguards for protecting that information.

  • Except as otherwise expressly set forth in this Agreement or the Financing Documents, the Reserve Fund shall be used solely for the purpose of funding Routine Capital Improvements (and not, for avoidance of doubt, Building Capital Improvements or ROI Capital Improvements).

  • It is specifically understood and agreed that amounts expended on account of FF&E and on account of any Routine Capital Improvements from the FF&E Reserve Fund shall not be included in any deductions required pursuant to subclause (2) of the preceding sentence and, in addition, that any FF&E that is purchased and any Routine Capital Improvements that are paid for using funds from the FF&E Reserve Fund may not be subsequently financed by Borrower or Operating Company.

  • Manager shall cause to be performed all Routine Capital Improvements in accordance with the approved Business Plan for the applicable Fiscal Year and as otherwise specifically required by this Agreement, or as otherwise approved by Owner to (i) keep the Managed Facilities in good working order and condition and in compliance with the Standards as provided for in the Business Plan; or, (ii) comply with, and cure or prevent the violation of, any Applicable Laws or the Investment Certificate.


More Definitions of Routine Capital Improvements

Routine Capital Improvements means (i) Alteration to the Equipment and (ii) certain routine repairs and maintenance to the Condo-Hotel which are normally capitalized and classified as “capital expenditures” under GAAP (e.g., interior repainting, resurfacing interior walls, floors and ceilings and resurfacing parking areas), but expressly excluding Capital Improvements.
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