Excluded Capex Clause Samples

Excluded Capex. The Access Provider shall not be entitled to recover a return on capital or depreciation on the following capital expenditure: (i) The first $100,000,000 plus GST of capital expenditure by the Access Provider in the period to 30 June 2007 on replacement of the Rail Network and Network Assets (such as expenditure on life expired infrastructure). The Access Provider is deemed to have expended $13,757,498.24 of that $100,000,000 (being the amount reimbursed to Toll Rail under clause 4.2(d)(iii) of the Sale Agreement) as at the Completion Date (and to avoid doubt, the other amounts reimbursable to Toll Rail in respect of capital expenditure under clause 3.2(b)(iii) of the Sale Agreement and clause 9.2 of Schedule 10 to the Sale Agreement shall also be deemed to have been expended (and shall be deducted) from that $100,000,000. Notwithstanding the foregoing, the Access Provider shall be entitled to recover a return on capital and depreciation on any capital expenditure by the Access Provider in excess of $25,000,000 on the Midland line, in accordance with section 1.3(a); (ii) The $100,000,000 plus GST to be expended by the Access Provider under clause 14.1(a) of this Agreement in upgrading the Rail Network (whether expended by the Crown or the Access Provider); or (iii) Capital expenditure by the Access Provider that does not provide any commercial benefit for Toll Rail (such as to extend the geographic scope of the Rail Network if such expansion does not confer commercial benefits on Toll Rail), provided (to avoid doubt) that expenditure within sections 1.3(a)(i) to (iii) is not excluded capital expenditure under this section.