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.
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Excluded Capex. TrackCo shall not be entitled to recover a return on capital or depreciation on the following capital expenditure: (1) The first $100,000,000 plus GST of capital expenditure by TrackCo in the period to 30 June 2007 on replacement of the Rail Network and Network Assets (such as expenditure on life expired infrastructure); (2) The $100,000,000 plus GST to be expended by TrackCo under clause 2.5 of this Agreement in upgrading the Rail Network (whether expended by the Crown or TrackCo); (3) Capital expenditure by TrackCo that does not provide any commercial benefit for Opco (such as to extend the geographic scope of the Rail Network if such expansion does not confer commercial benefits on Opco), provided (to avoid doubt) that expenditure within sections (1) to (3) of section 8(b)(i) is not excluded capital expenditure under this section.
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Related to Excluded Capex

  • Excluded Costs The following items are considered general overhead items and shall not be billed to the District: 2.1.6.1 Salaries and other compensation of Developer’s personnel stationed at Developer’s principal office or offices other than the Project Field Office, except as specifically provided in Subparagraphs 2.1.3.2. and 2.1.3.4. 2.1.6.2 Expenses of Developer’s principal office and offices other than the Project Field Office. 2.1.6.3 Overhead and general expenses, except as may be expressly included in this Section 2. 2.1.6.4 Developer’s capital expenses, including interest on Developer’s capital employed for the Work. 2.1.6.5 Costs that would cause the Guaranteed Maximum Price (as adjusted by Change Order) to be exceeded.

  • Excluded Contracts All of Seller's right, title and interest in, to and under the Contracts listed on Schedule 1.2(b) attached hereto (the "Excluded Contracts");

  • Excluded Collateral Notwithstanding the foregoing provisions of this ss.2, such grant of security interest shall not extend to, and the term "Collateral" shall not include, any chattel paper and general intangibles which are now or hereafter held by the Company as licensee, lessee or otherwise, to the extent that (i) such chattel paper and general intangibles are not assignable or capable of being encumbered as a matter of law or under the terms of the license, lease or other agreement applicable thereto (but solely to the extent that any such restriction shall be enforceable under applicable law), without the consent of the licensor or lessor thereof or other applicable party thereto and (ii) such consent has not been obtained; provided, however, that the foregoing grant of security interest shall extend to, and the term "Collateral" shall include, (1) any and all proceeds of such chattel paper and general intangibles to the extent that the assignment or encumbering of such proceeds is not so restricted and (2) upon any such licensor, lessor or other applicable party consent with respect to any such otherwise excluded chattel paper or general intangibles being obtained, thereafter such chattel paper or general intangibles as well as any and all proceeds thereof that might have theretofore have been excluded from such grant of a security interest and the term "Collateral."

  • Excluded Claims This Section shall not apply to any action or claim that cannot be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as amended, to the extent such claims are not permitted by applicable law to be submitted to mandatory arbitration and such applicable law is not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded Claims”). In the event you intend to bring multiple claims, including one of the Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration.

  • 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 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. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).