Capital Allowance Clause Samples
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Capital Allowance. The Port shall provide Tenant with an annual allowance (the “Capital Allowance”) valued at two hundred thousand dollars and no cents ($200,000.00) per calendar year after 2015 for the repair or replacement of any furniture, fixtures, equipment or other capital items in, on or about the Terminal 91 Cruise Facility. Either party may perform work under the Capital Allowance. As such, whether the Capital Allowance is, in whole or in part, a cash allowance will depend on the party identified to do the particular work to be performed under the Capital Allowance. The parties shall consult with one another regarding potential projects towards which the Capital Allowance will be applied; provided, however, the final decisions regarding how the Capital Allowance will be applied and who will undertake the work will be made by the Port. In the event that the Port performs any work, the amount chargeable against the Capital Allowance will be determined from the costs properly charged against the project established by the Port for such work under the Port’s system of accounting. Tenant specifically acknowledges that the Port may use the Capital Allowance for the replacement of the fendering and rafts at the Terminal 91 Cruise Facility in fulfilling its responsibilities under Section 13.2. In seeking any payment under the Capital Allowance for any work performed by Tenant, Tenant shall submit to the Port a copy of the invoice for the repair or replacement of such furniture, fixtures, equipment or other capital items together with such other reasonable documentation required by the Port. The Port shall, within thirty (30) days of receipt of such documentation and verification of the eligibility of such expenditure for reimbursement under the Replacement Allowance, pay to Tenant the amount of the invoice, not to exceed (in aggregate with all previously requested reimbursements) the total dollar amount of the Allowance. Solely as an accommodation to Tenant, the Port agrees to issue two party checks made payable to Tenant and the supplier/provider retained by or contracted to Tenant for the purposes of facilitating payment by Tenant to such supplier/provider; provided, however, nothing in the Port’s agreement to issue a two party check shall create or support any liability or responsibility by the Port to such supplier/provider. Any portion of the Capital Allowance not used within a calendar year will roll forward for the remainder of the Term of this Amended and Restated A...
Capital Allowance. “Capital Allowance” shall have the meaning set forth in Section 13.4.2 below.
Capital Allowance. USF&G agrees, subject to the provisions contained herein, to fund $45,000 as reasonable restoration costs, for additional reverse osmosis water treatment equipment to be installed on the remote ion exchange equipment located in Production Area 3 at the Kingsville Dome location ("PAA3") as enumerated in Appendix A attached to and by this reference incorporated in this Agreement. Once functional, this equipment shall be used to conduct restoration in PAA3 over the term of this Agreement. PAA3 restoration shall be concurrent with the restoration operations at the remainder of the Kingsville Dome mine. The restoration operation cost of PAA3 equipment shall be included in the amounts enumerated in Appendix A and shall only be allowed in any month if the Reverse Osmosis unit at PAA3 is operational in that month.
Capital Allowance. 18.10.1 Full disclosure has been made to the Purchaser of all capital expenditure qualifying for capital allowances and all balancing adjustments pursuant to the Capital Allo▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇ respect of any accounting period (as defined in section 12 1988 Taxes Act) of the Company ended on or before the Accounts Date.
18.10.2 Save as disclosed in the Audited Accounts, since the end of the last such accounting period referred to in paragraph 18.10.1, the Company has not done, omitted to do, agreed to do or permitted to be done any act as a result of which there may be made either a balancing charge in respect of such capital expenditure or any recovery of excess relief within the provisions of the Capital Allowances Act ▇▇▇▇.
18.10.3 On the disposal by the Company of any asset owned by it at the date of this Agreement at the value at which that asset is stated in the Audited Accounts, neither a chargeable gain nor a balancing charge under the Capital Allowances Act 1990 would arise (and for the purpose of this paragraph 18.
Capital Allowance. (a) Notwithstanding anything to the contrary set forth in this Article 7, Landlord and Tenant have agreed to fund on a 50-50 basis the cost of certain repairs, renovations and alterations to the Facilities (the “RRA”) and/or the acquisition of certain furniture, fixtures and equipment for the Facilities (the “FF & E” and together with the RRA, the “Improvements”), with the aggregate amount required to be contributed by Landlord and Tenant for the Improvements not to exceed One Million Five Hundred Thousand and no/100 Dollars ($1,500,000.00) (the “Capital Allowance”), with up to Seven Hundred Fifty Thousand and No/100 Dollars ($750,000.00) of such amount being provided by Landlord (the “Landlord’s Share of the Capital Allowance”) and with up to Seven Hundred Fifty Thousand and no/100 Dollars ($750,000) of such amount being provided by Tenant (the “Tenant’s Share of the Capital Allowance”). With respect to each of the Improvements, Landlord and Tenant shall agree upon an appropriate allocation of the cost thereof between Landlord and Tenant, it being understood and agreed that Tenant may use the Tenant’s Share of the Capital Allowance to pay for the cost of any vehicles to be used in connection with the operation of the Facilities (the “Vehicles”) and that Landlord shall have no obligation to advance any portion of the Landlord’s Share of the Capital Allowance to cover any portion of the costs thereof. Accordingly, as between Landlord and Tenant, Landlord shall be required to bear a disproportionate share of the cost of a portion of the Improvements but in no event (A) shall the amount which Landlord is required to advance in the aggregate with respect to the Improvements exceed the Landlord’s Share of the Capital Allowance nor (B) shall the amount which Tenant is required to advance in the aggregate with respect to the Improvements and the Vehicles exceed the Tenant’s Share of the Capital Allowance.
(b) The Capital Allowance may be allocated by Tenant between the Facilities in such manner as Tenant deems to be necessary and appropriate to equip, repair, renovate and/or alter the Facilities; provided, however, any proposed use by Tenant of the Landlord’s Share of the Capital Allowance shall be subject to the review and prior written approval of Landlord, which approval shall not be unreasonably withheld or delayed (“Landlord’s Approval”) and which Landlord’s Approval shall be deemed to have been given unless such approval is denied in writing within thirty (...