Capex Clause Samples
The CAPEX clause defines the rules and procedures related to capital expenditures within a contract or agreement. It typically outlines what qualifies as a capital expenditure, sets approval thresholds, and may specify the process for submitting and reviewing CAPEX requests. For example, it might require that any investment in new equipment or major upgrades exceeding a certain dollar amount must receive prior written approval from designated parties. The core function of this clause is to ensure oversight and control over significant financial investments, thereby preventing unauthorized or excessive spending and aligning capital investments with the parties' strategic objectives.
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Capex. The Capex incurred in each fiscal year over the life of the Financing, specifically excluding (i) the amounts invested in other companies as foreseen in the Financial Model and defined therein as Investments in Related Parties, (in particular, including but not limited to, the sums for the acquisition of Matchmind Shares and Galian Shares), and (ii) Renting or Leasing Transactions with no Impact on Treasury (except for the instalments of the same paid within the relevant financial year), may not exceed FIFTEEN MILLION EUROS (€ 15,000,000), and the maximum aggregate amount for the entire period of time may not exceed FIFTY MILLION EUROS (€ 50,000,000). In any event, if in any given fiscal year the Borrower were to make investments below the annual established limit, it would be allowed to increase the Capex limit for the next fiscal year in an amount equivalent to the difference between the annual limit and the amount actually incurred, although the Borrower shall only be allowed to do this once during the life of the Financing. The amount of the DTN Deferred Payments and any additional payments for Adjustments to the DTN Purchase-Sale Price made by Telvent Export during the life of the Financing as stipulated in the DTN Purchase-Sale Agreement, as well as the sum for any additional payments for Matchmind/Galian Sales Agreement Adjustments which Telvent Outsourcing pays during the life of the Financing Agreement, in accordance with the stipulations contained in Matchmind/Galian Sales Agreements, respectively, shall count towards the Capex limit for the fiscal year in which such payments are made. Prior to making any such payments, the Borrower shall provide the Agent with a certificate signed by a duly authorised representative of the Borrower stating that there will be no breach of the Financial Ratios as a consequence of making such payments. The above notwithstanding, the Borrower shall be authorised to exceed the Capex limits established in this section provided that it will result in a breach of the Debt Ratio and the Debt Service Coverage Ratio in relation to the next to calculation periods of the Financial Ratios as a consequence of having exceeded the limits. To this end, if the Borrower decides to exceed the Capex limits, it shall be obliged to provide the Agent with a certificate, signed by a duly authorised representative of the Borrower, including a forecast of the Debt Ratio and Debt Service Coverage Ratio for the next two periods covered by th...
Capex. (1) The parties will invest the capital expenditure (capex) necessary to develop production capacity for the Product to be supplied in accordance with this Agreement and in the proportions set out in clause 4.1(2).
(2) TearLab will pay for 65% of capex as incurred. MiniFAB will pay for the remaining 35% of capex, which will be recoverable from TearLab in accordance with clause 4.1(3). Any capex amount incurred by MiniFAB in excess of the 35% will be recoverable from TearLab by monthly invoice. The parties’ obligations with respect to contributions to the capex amount are limited to an aggregate capex of $1 million AUD for Phase 1. Total contributions to the capex amount in respect of Phase 2 are subject to agreement but anticipated to be in the vicinity of $3 million AUD. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
(3) MiniFAB will recover the cost of its capex contributions through an amortised cost component in the Price for the Product charged to TearLab. The amortised amount will become payable once the monthly card volumes reach 200,000 per month. When all capex has been recovered, that cost component will be deleted. An amortised cost component will be reintroduced to cover any future capex as and when required.
(4) The total amount of capex outstanding at any time will accrue interest at the Default Rate, with interest calculated and capitalised at the end of each month.
(5) While any capex is outstanding to the account of MiniFAB the amortised amount repayable by TearLab in each Quarter will be the aggregate of the ‘amortised amounts’ specified in the then-current Pricing Schedule.
(6) If the project does not proceed to Phase 2 by 1 January 2020 or is terminated by TearLab, TearLab will pay to MiniFAB all capex expended by MiniFAB on the project to date.
(7) Despite anything to the contrary in clause 4.1(3), if monthly card volumes have not reached 200,000 per month within three and a half years of the beginning of Phase 2, TearLab will commence payment of the amortised amount at the rate of $0.30 per card on the basis of the actual number of cards purchased from MiniFAB, unless otherwise agreed.
Capex. 3.01 Detailed historical capital expenditures (Past 5 years)
3.02 Five year capital plan (2021-2025)
Capex. Except (A) as set forth in the capital budget provided to Parent, or (B) for expenditures related to operational emergencies as to which notice to and opportunity to grant approval by Parent is not practicable, make or authorize capital expenditures in excess of $2,000,000 in the aggregate;
Capex. According to the financial model provided, the total Project Cost including modules and sales tax will be $[ ● ] or $[ ● ]/WDC. Total direct costs of $[ ● ] ($[ ● ]/WDC) for a PV + storage project of this characteristics, size and location can be considered normal in current market conditions.
Capex. 5.1 GAMIDA will fund [*] of a conceptual engineering design study (which will be mutually agreed upon) to determine the Suite layout and cost for the build out of up to [*]. The fee for such study is estimated to be [*].
5.2 The Parties agree that for the Launch Suite no investment will be required. For the first Suite [*] will cover the CAPEX for the build out of the Suite. Notwithstanding the foregoing, however, both Parties will [*] the CAPEX to invest in the build out of Suites No. [*]. LONZA will manage the construction of the Suite and accept for all overruns and contingency costs related to the agreed upon scope of the project as defined in the Conceptual Engineering Design. The CAPEX per Suite as determined by the engineering design study is estimated in the amount of [*]. The actual CAPEX per Suite is to be determined after the completion of the engineering design study and subject to the actual market situation. All subsequent build outs of additional Suites will have to be costed subject to actual market conditions. LONZA shall provide GAMIDA immediately upon request and as needed with documentation supporting the cost of the CAPEX per each such Suite.
5.3 GAMIDA will fund all process equipment as detailed in Appendix 3. However, LONZA will be responsible for the procurement of all process equipment, including process-specific equipment provided that the purchases of such equipment will be approved and funded by GAMIDA. The installation and validation of the equipment will be performed by [*]. During the Term of this Agreement LONZA will own all process equipment. All process equipment, funded by GAMIDA, will be returned to GAMIDA upon termination of this Agreement. GAMIDA will be responsible for all fees related to crating and shipping. GAMIDA will be responsible for all fees related to maintenance, repair, upgrade, replacement and requalification of process equipment except for repair or replacement costs related to any negligence act or omission of LONZA or LONZA Personnel. LONZA will manage all activities described above and related to process equipment.
Capex. Customer shall pay Flex for or obtain and consign to Flex any CAPEX as set forth in Flex’s pricing quotation, the attached Fees List, or some other agreement signed by the parties incorporated herein by reference. Preparations for providing Services will not commence until payment for the CAPEX is received by Flex.
Capex. Capex has the meaning as defined in Schedule 10 Definitions.
Capex. (i) the Borrower shall provide on an annual basis the budget outlining the capex requirements for the immediately following period of 12 months including commentary on any technical issues, downtime/operational record and updates/changes to the field; and (ii) such capex shall not exceed ten million Dollars (US$10,000,000) per annum unless any excess is funded by further equity or debt provided to the Borrower in accordance with the terms of clause 12.1.24(a).
Capex. The Borrower shall provide to the Facility Agent on an annual basis the budget outlining (i) the capital expenditure requirements for the immediately following period of twelve (12) months including commentary on any technical issues, downtime and operational record and