Capital Expenditure Requirements Sample Clauses

Capital Expenditure Requirements. In addition to the foregoing, the Sellers shall cause the Acquired Companies to make capital expenditures in the Ordinary Course and in a manner that will allow the Acquired Companies to complete the construction described in Section 3.19 of the Disclosure Schedule and in a manner consistent with the Capital Expenditure Budget.
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Capital Expenditure Requirements. 128 Section 6.06. Contingent Liability(ies)..............................................................129 Section 6.07. Investment Restrictions................................................................129 Section 6.08. Total Liens............................................................................130 Section 6.09. Limitation on Indebtedness.............................................................130 Section 6.10. Minimum Subordinated Debt..............................................................132 Section 6.11. Restriction on Distributions and Argosy Dividends......................................132 Section 6.12. No Change of Control...................................................................132 Section 6.13. Consolidation, Merger, Sale of Assets, etc.............................................132 Section 6.14. Transactions with Affiliates...........................................................133 Section 6.15. No Transfer of Ownership...............................................................134 Section 6.16. ERISA..................................................................................134 Section 6.17. Margin Regulations.....................................................................134 Section 6.18. Limitation on Additional Subsidiaries..................................................135 Section 6.19. Limitation on Consolidated Tax Liability...............................................135 Section 6.20. Change in Accounting Principles........................................................135
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Capital Expenditure Requirements a. During each Fiscal Year, commencing with the Fiscal Year commencing January 1, 1999, the Borrower Consolidation shall make or cause to be made, Non-Financed Capital Expenditures to the Argosy Owned Facilities in a minimum aggregate amount equal to or greater than three percent (3%) of Net Gaming Revenues ("Minimum Cap Ex Requirement") derived from the Argosy Owned Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year, but in no event shall Non-Financed Capital Expenditures to the Argosy Owned Facilities during any Fiscal Year exceed a maximum aggregate amount equal to six percent (6%) of Net Gaming Revenues ("Maximum Cap Ex Limit") derived from the Argosy Owned Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year; provided, however, to the extent the Borrower Consolidation spends less than the Maximum Cap Ex Limit during any Fiscal Year, the unused amount may be expended by the Borrower Consolidation for Non-Financed Capital Expenditures to the Argosy Owned Facilities during the next occurring Fiscal Year in addition to the Maximum Cap Ex Limit required during the next occurring Fiscal Year. The amount of any such carryover shall be deemed the first expenditures made during the next such ensuing Fiscal Year.
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Capital Expenditure Requirements. Section 6.07 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
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Capital Expenditure Requirements. Unless approved in writing by the Requisite Lenders, no member of the Borrower Consolidation shall make any Capital Expenditures, except a member of the Borrower Consolidation may make a Capital Expenditure if the amount of such Capital Expenditures plus the aggregate amount of any other Capital Expenditures made by any member of the Borrower Consolidation during the Fiscal Year in which such proposed Capital Expenditure is to occur does not exceed Sixteen Million Seven Hundred Thousand Dollars ($16,700,000); provided, however, that the Borrower Consolidation may make Capital Expenditures for any Fiscal Year in excess of the Sixteen Million Seven Hundred Thousand Dollars ($16,700,000) permitted above so long as (i) such Capital Expenditures are necessary for a Borrower to comply with the rules and regulations mandated by any Gaming Authority and (ii) the total amount of Capital Expenditures does not exceed (I) for Fiscal Year 2008 and 2009, $33,400,000 and (II) for the first Fiscal Quarter of 2010, $4,175,000. In the event that Borrower Consolidation makes permitted Capital Expenditures for any Fiscal Year in excess of the Sixteen Million Seven Hundred Thousand Dollars ($16,700,000) permitted above, then the amount of permitted Capital Expenditures for the immediately following Fiscal Year shall be reduced by the amount of such excess.”
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Capital Expenditure Requirements a. During each Fiscal Year, commencing with the Fiscal Year commencing January 1, 2001, Borrowers shall make or cause to be made, Maintenance Capital Expenditures to the Hotel/Casino Facilities in a minimum aggregate amount equal to or greater than one percent (1%) of net revenues during each of the Fiscal Years ending December 31, 2001 and December 31, 2002, and during each Fiscal Year thereafter occurring equal to or greater than two percent (2%) of net revenues ("Minimum Maintenance Cap Ex Requirement") in each case determined with reference to the net revenues derived from the Hotel/Casino Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year, but in no event shall Maintenance Capital Expenditures made during any Fiscal Year be greater than a maximum aggregate amount equal to six percent (6%) of net revenues ("Maximum Maintenance Cap Ex Limit") derived from the Hotel/Casino Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year.
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Related to Capital Expenditure Requirements

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2006 and each Fiscal Year ending thereafter $ 5,000,000 (b) [Intentionally Deleted]

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year Consolidated Capital Expenditures Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Operating Budgets Manager has submitted to Owner, for Owner's approval, a proposed operating budget for the ensuing full or partial fiscal year, as the case may be ("Operating Budget"). Hereafter, Manager shall, not less than forty-five (45) days prior to the commencement of each full fiscal year, submit to Owner, for Owner's approval, a proposed Operating Budget for the ensuing full or partial fiscal year, as the case may be. Each Operating Budget shall be accompanied by, and shall include, a business plan which shall describe business objectives and strategies for the period covered by the Operating Budget. The business plan shall include, without limitation, an analysis of the market area in which the Hotel competes, a comparison of the Hotel and its business with competitive hotels, an analysis of categories of potential guests, and a description of sales and marketing activities designed to achieve and implement identified objectives and strategies. Fee Owner shall have no right to approve any Operating Budget. Owner's approval of the Operating Budget shall not be unreasonably withheld and shall be deemed given unless a specific written objection thereto is delivered by Owner to Manager within fifteen (15) days after submission. Owner shall review the Operating Budget on a line-by-line basis. To be effective, any notice which disapproves a proposed Operating Budget must contain specific objections in reasonable detail to individual line items. If the initial Operating Budget contains disputed budget item(s), said item(s) shall be deemed adopted until Owner and Manager have resolved the item(s) objected to by Owner or the Accountant(s) (hereinafter defined in Section 10.02) have resolved the item(s) objected to by Owner. Thereafter, if Owner disapproves or raises objections to a proposed Operating Budget in the manner and within the time period provided therefor, and Owner and Manager are unable to resolve the disputed or objectionable matters submitted by Owner prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget shall be deemed to be adopted and approved and the corresponding line item contained in the Operating Budget for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in lieu of the disputed items in the proposed Operating Budget. Those line items which are in dispute shall be determined by increasing the preceding fiscal year's corresponding line items by an amount determined by Manager which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1984-1986=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item is being calculated or any successor or replacement index thereto. The resulting Operating Budget obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget in effect until such time as Manager and Owner have resolved the items objected to by Owner. Manager shall revise the Operating Budget from time to time, as necessary, to reflect any unpredicted significant changes, variables or

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

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