Capital Replacement Sample Clauses
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Capital Replacement. Notwithstanding the provisions of paragraph 10 of the Original Lease, except for the replacement of the HVAC systems (as to which Tenant shall bear all of the costs of replacement of HVAC systems that cannot be repaired or that are beyond their useful lives during the term of the Lease, including all repairs and alterations required to accommodate the new HVAC systems), and except for the Exterior Lighting Repair costs (which shall be governed by paragraph 6(c) of this Second Amendment), in the event any other single replacement under Original Lease paragraph 10(B) or 10(E) would be properly capitalized under generally accepted accounting 23584 principles, then (i) as to such a replacement under Original Lease paragraph 10(B), if Tenant’s Allocable Share of the cost of such replacement is more than Seventy Five Thousand Dollars ($75,000), then Tenant shall only be required to pay the first Seventy Five Thousand Dollars ($75,000) of Tenant’s Allocable Share of such cost plus that portion of the remaining portion of Tenant’s Allocable share of such cost equal to the product of such remaining portion multiplied by a fraction, the numerator of which is the number of years remaining in the Lease Term (prorated as to partial years), and the denominator of which is the useful life (in years, and prorated as to partial years) of the replacement; and (ii) as to such a replacement under Original Lease paragraph 10(E), if such replacement costs in excess of Seventy Five Thousand Dollars ($75,000), Tenant shall only be required to pay the first Seventy Five Thousand Dollars ($75,000) of the cost plus that portion of the remaining cost equal to the product of such total remaining cost multiplied by a fraction, the numerator of which is the number of years remaining in the Lease Term (prorated as to partial years), and the denominator of which is the useful life (in years, and prorated as to partial years) of the replacement.
Capital Replacement. A. The Corporation shall certify to the Office, on an annual basis, that the Corporation’s Board of Directors has discussed current and projected funding requirements which would be necessary to appropriately maintain the Corporation’s physical plant and equipment. Such a certification shall be signed by the chief executive officer of the Corporation and by the President of the Corporation’s Board of Directors and shall include:
1. the minutes of the meeting at which the discussion took place;
2. a capital replacement budget covering the ensuing five year period; and
Capital Replacement. The endowment calculation for the site provides for the capital replacement of certain, mainly hard, landscape elements that have a finite lifespan. These include: • Gates and ▇▇▇▇▇▇ (20 years) • Vehicular and pedestrian entrance barriers (20 years) • Multi – user tracks and paths (30 years) • Fencing - post and rail (20 years) • Bridges (50 years) – however Staffordshire CC have this responsibility • Reedbeds - digging out (10 years) • ▇▇▇▇ ▇▇▇▇▇▇▇ (10 years) • Newt grilles (50 years) • Pipelines(100 yrs), • Outlet / inlets (50 years), Emergency outflow (50 years)
Capital Replacement. Capital Replacement," for purposes of this Lease, shall mean the replacement of a capital item (as defined in the United States Internal Revenue Code, 1984, as amended) comprising a part of Landlord's Improvements having a cost in excess of $5,000.00, which $5,000.00 amount shall be increased over the Term by the percentage by which the CPI Index published nearest to the expiration of each twelve (12) month period subsequent to the Initial Term Commencement Date is greater than the CPI Index most recently published prior to the Initial Term Commencement Date ARTICLE 7
Capital Replacement. 9.1 The City as the owner of the land and the building is responsible for the capital replacement in the future. The Service Provider must on the first anniversary of the commencement date of this Agreement and thereafter on each subsequent anniversary deposit an amount of R 20,000 into a trust account of a firm of Attorneys mutually agreed by the parties. The aforementioned amount must be escalated by C.P.I. each year. The City shall only utilize these funds to match the costs of major capital replacements for the Centre, specifically targeted to the replacement of the artificial turf pitch. The City shall keep detailed written records of all expenditure. The Service provider and sfw shall be given access to these records as and when required.
9.2 In the event of any dispute between the City, the Service Provider and sfw as to the utilisation of these funds, such dispute shall be referred to an independent firm of
Capital Replacement. The Company intends to redeem the shares only from proceeds from the issuance of new capital offerings whose equity treatment is equal to, or greater than, the shares being redeemed.
Capital Replacement. We intend, to the extent that the preference shares provide us with rating agency equity credit at the time of any redemption or repurchase, to redeem or repurchase (or to cause another person or entity to purchase) the preference shares with amounts that include net proceeds received by us from the sale or issuance, during the 180-day period prior to the notice date for such action, to third-party purchasers of securities that would provide at least as much equity credit as the preference shares at that time (determined in accordance with the standards as then in effect of a majority of the rating agencies).
Capital Replacement. Kneehill County and Carbon shall budget annual contributions to their own capital replacement plan at the percentages of ownership as stated above.
Capital Replacement. By December 31st of each fiscal year, City agrees to make an annual capital replacement payment to the school district in the amount determined in Exhibit E-4.
Capital Replacement. 10.6.1 Subject to clauses 10.6.3 and 10.6.4, DLRL shall be responsible for the carrying out of any DLRL Capital Replacement which is contained within the current Annual Asset Management Plan and which has either been agreed between the parties or determined by DLRL in accordance with the provisions of paragraph 2(b) of Part 4 of Schedule 4. Where DLRL carries out or procures the carrying out of any DLRL Capital Replacement it shall ensure it is carried out in accordance with Good Industry Practice and in accordance with all Applicable Requirements.
10.6.2 Subject to clause 10.6.3(a), DLRL shall spend a minimum of the Capital Replacement Budget on DLRL Capital Replacement on the Railway. The projects on which the Capital Replacement Budget will be spent shall be determined in accordance with paragraph 2 of Part 4 of Schedule 4.