Common use of CAPITAL STATEMENT Clause in Contracts

CAPITAL STATEMENT. (a) The Capital Statement shall take into account the amount of any capital cost or receipt comprised or adjusted for in any call paid or received in respect of the Assets from the Effective Date to the Adjustment Date (such amounts to be treated as property, plant and equipment). (b) In this Part, if the total of capital costs under paragraph (a) exceeds the total of capital receipts, then the amount of the difference shall be charged to the Buyer Account, otherwise the amount of the difference shall be charged to the Seller Account.