Capital Expenditures Clause Samples
The Capital Expenditures clause defines how costs for major investments in assets, such as equipment, property improvements, or infrastructure, are managed and allocated under an agreement. Typically, this clause outlines which party is responsible for funding these expenditures, sets approval processes for large purchases, and may specify limits or thresholds for spending. By clearly delineating responsibility and procedures for significant capital investments, the clause helps prevent disputes over financial obligations and ensures that both parties understand their roles in maintaining or upgrading assets.
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Capital Expenditures. (a) Make any Capital Expenditure except for Capital Expenditures not exceeding, in the aggregate for the Borrower and the Restricted Subsidiaries during each fiscal year set forth below, the amount set forth opposite such fiscal year: Fiscal Year Amount 2010 $ 135,000,000 2011 $ 140,000,000 2012 $ 150,000,000 2013 $ 155,000,000 ; provided that the amount of Capital Expenditures permitted to be made in respect of any fiscal year (i) shall be increased after the consummation of any Permitted Acquisition in an amount equal to 10% of the pro forma aggregate consolidated revenues of the Acquired Entity or Business so acquired during the fiscal year of such Acquired Entity or Business beginning after such Permitted Acquisition (such amount, the “Acquired Annual Capital Expenditure Amount”) and (ii) may, at the option of the Borrower, be increased by up to 25% of the next succeeding fiscal year’s Capital Expenditure limit (as increased by the Acquired Annual Capital Expenditure Amount), in which case the base amount that may be expended for the next succeeding fiscal year shall be correspondingly reduced.
(b) Notwithstanding anything to the contrary contained in clause (a) above, to the extent that the aggregate amount of Capital Expenditures made by the Borrower and the Restricted Subsidiaries in any fiscal year pursuant to Section 7.15(a) is less than the maximum amount of Capital Expenditures permitted by Section 7.15(a) with respect to such fiscal year, the amount of such difference (the “Rollover Amount”) may be carried forward and used to make Capital Expenditures in the next succeeding fiscal year; provided that Capital Expenditures in any fiscal year shall be counted against any Rollover Amount available with respect to such fiscal year prior to being counted against the base amount set forth in Section 7.15(a) with respect to such fiscal year
Capital Expenditures. The Issuing Entity shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).
Capital Expenditures. The Trust Depositor shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).
Capital Expenditures. Make any Capital Expenditure in any fiscal quarter or fiscal year, except for Capital Expenditures not exceeding, in the aggregate for the Borrower and its Subsidiaries, the amounts set forth below opposite such fiscal quarter or fiscal year, as the case may be: provided, however, that (A) so long as (1) no Default has occurred and is continuing or would result from any such expenditure, and (2) after giving effect to such expenditures, total Capital Expenditures for the period from the Closing Date through the end of the current fiscal quarter are not more than 10% greater than the total projected Capital Expenditures for the same period set forth in the forecasts referenced in Section 5.05(f), the Borrower may, in such fiscal quarter, make Capital Expenditures that otherwise would have been permitted to be made in either or both of the two fiscal quarters immediately following such fiscal quarter, and in such event such additional Capital Expenditures shall reduce the amounts available in such following fiscal quarters by a like amount (allocated first to the first succeeding fiscal quarter and then to the second); provided however that notwithstanding anything to the contrary in the immediately preceding proviso, with regard to any fiscal year, the Borrower may only make such Capital Expenditures as are permitted to be made in such fiscal year and additional Capital Expenditures that otherwise would have been permitted to be made in the one fiscal quarter immediately following such fiscal year; and (B) so long as no Default has occurred and is continuing or would result therefrom, any amount allocated to any fiscal quarter in the table set forth above which is not expended in such fiscal quarter may be carried over for expenditure during the next fiscal quarter. In addition to the foregoing Capital Expenditures, and provided that no Default shall have occurred and be continuing and the Borrower shall be in compliance on a Pro Forma Basis with all of the covenants set forth in Section 7.10, the Borrower and its Subsidiaries may make additional Capital Expenditures at any time that are paid with Specified Proceeds (excluding, for the avoidance of doubt, any Specified Proceeds that are applied to Permitted Acquisitions).
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 Expenditures. Other than the purchase of Recovery Property from the Seller on each Closing Date, the Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).
Capital Expenditures. Make any capital expenditures, capital additions or capital improvements in excess of $25,000 individually or $50,000 in the aggregate;
Capital Expenditures. Make any capital expenditures other than capital expenditures in the ordinary course of business consistent with past practice in amounts not exceeding $50,000 individually or $100,000 in the aggregate.
Capital Expenditures. (a) Holdings will not, and will not permit any of its Subsidiaries to, make any Capital Expenditures, except that during any Fiscal Year of Holdings set forth below (taken as one accounting period), Holdings and its Subsidiaries may make Capital Expenditures so long as the aggregate amount of all such Capital Expenditures does not exceed in any Fiscal Year of Holdings set forth below the amount set forth opposite such Fiscal Year below: December 31, 2010 $ 350,000,000 December 31, 2011 $ 350,000,000 December 31, 2012 $ 350,000,000 December 31, 2013 $ 350,000,000 December 31, 2014 $ 350,000,000 December 31, 2015 $ 350,000,000
(b) In addition to the foregoing, in the event that the amount of Capital Expenditures permitted to be made by Holdings and its Subsidiaries pursuant to clause (a) above in any Fiscal Year of Holdings (before giving effect to any increase in such permitted Capital Expenditure amount pursuant to this clause (b)) is greater than the amount of Capital Expenditures actually made by the Borrower and its Subsidiaries during such Fiscal Year, the lesser of (x) such excess and (y) 50% of the applicable permitted scheduled Capital Expenditure amount as set forth in such clause (a) above, may be carried forward and utilized to make Capital Expenditures in the immediately succeeding Fiscal Year, provided that (x) no amounts once carried forward pursuant to this Section 11.10(b) may be carried forward to any Fiscal Year of Holdings thereafter and (y) no amounts carried forward into a subsequent Fiscal Year may be used until all Capital Expenditures permitted pursuant to clause (a) above for such subsequent Fiscal Year are first used in full.
(c) In addition to the foregoing, the Borrower and its Subsidiaries may make additional Capital Expenditures (which Capital Expenditures will not be included in any determination under Section 11.10(a) or (b)) with the amount of Net Sale Proceeds received by the Borrower or any of its Subsidiaries from any Asset Sale so long as such Net Sale Proceeds are reinvested within 540 days following the date of such Asset Sale, but only to the extent that such Net Sale Proceeds are not otherwise required to be applied as a mandatory repayment and/or commitment reduction pursuant to Section 5.02(d).
(d) In addition to the foregoing, the Borrower and its Subsidiaries may make additional Capital Expenditures (which Capital Expenditures will not be included in any determination under Section 11.10(a) or (b)) with the amoun...
Capital Expenditures. Make any capital expenditures, capital additions or capital improvements except in the ordinary course of business and consistent with past practice;