Major Capital Expenditures Sample Clauses

Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP. Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment, for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant does not receive Notice of Landlord's disapproval of the Building Estimate within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not identified as disputed in such Landlord's Notice shall be deemed approved.
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Major Capital Expenditures. (a) On or before December 1 of each Lease Year, Tenant, or Manager at the direction of Tenant, shall deliver to Landlord, for Landlord's approval, an estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing or vertical transportation elements of the Leased Improvements ("Major Capital Expenditures"). Major Capital Expenditures shall also include (i) all costs associated with any removal or remediation of Hazardous Substances (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), regardless of whether such costs are normally capitalized under GAAP, and (ii) all other Environmental Claims of third parties other than Landlord, Tenant, Manager or their agents, successors and assigns (except those treated as Tenant's sole cost and expense under Section 5.1.4(b)), provided that in the case of this clause (ii) such Environmental Claims, together with all other such Environmental Claims of the type contemplated in this clause (ii) under all of the Other Leases, exceed $250,000 and are less than $1,250,000 (it being expressly agreed that Landlord's obligation under this clause (ii) shall not exceed, in the aggregate, $1,000,000 for all of the leased properties contemplated by this Lease and the Other Leases). Landlord shall not withhold its approval to such Major Capital Expenditures as are required, in Tenant's reasonable judgment (or Manager's reasonable judgment if directed by Tenant to prepare the Building Estimate), for the Leased Property to comply with the Product Standards or for costs associated with the removal or remediation of Hazardous Substances. If Tenant or Manager, as applicable, does not receive Notice of Landlord's disapproval of the Building Estimate or any item therein, within twenty (20) Business Days after delivery of the Building Estimate to Landlord, then Landlord shall be deemed to have approved the Building Estimate or such items, as applicable. In the event Landlord disapproves the Building Estimate, Landlord's Notice shall identify disputed items on a line item basis. Items not ident...
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Major Capital Expenditures. The cost of expenditures with respect to Major Capital Improvements not otherwise provided for herein, shall be approved and borne solely by Lessee and/or Owner, and shall not be paid from Gross Revenues.
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Major Capital Expenditures. (a) On or before the Commencement Date (with respect to the first partial Fiscal Year) and December 1 of each Fiscal Year thereafter, Tenant shall deliver to Landlord, for Landlord's approval, a detailed line-item estimate (the "Building Estimate") of the expenses necessary for repairs, alterations, improvements, renewals, replacements and additions, all of which are non-routine or major, to the Leased Improvements which are not covered under Section 5.1.2(a) and which are normally capitalized under GAAP (which expenses shall include, with respect to any cost item, any customary market-rate supervisory fee, and any other fee commonly referred to as "purchasing fees", charged by Tenant, Manager or any Affiliated Person for services rendered in connection herewith) such as repairs, alterations, improvements, renewals, replacements and additions to the structure, the exterior facade, the mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the Leased Improvements ("Major Capital Expenditures") which Major Capital Expenditures Tenant believes should be made to the Leased Property for the following Lease Year, together with estimates of professionals and other appropriate backup. Major Capital Expenditures shall also include all costs associated with any removal or remediation of Hazardous Substances (except those treated at Tenant's sole cost and expense under Section 5.1.4(b) and referenced in Section 4.2). Except as provided in paragraph 5.1.3(b) below, Tenant acknowledges the provisions of 35
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Major Capital Expenditures. If Manager performs supervisory services with respect to carrying out any Major Capital Expenditures, Manager shall be paid a supervisory fee in connection therewith. Owner shall have the option of whether to utilize Manager or a third party for such Capital Expenditures execution; provided, however, any third party selected therefor shall be subject to Manager's reasonable approval. All Capital Budgets shall contain an estimate of fees for Manager's or a third party's services in connection with the same.
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Major Capital Expenditures. Major Capital Expenditures will be undertaken only at the request of Owner, whether on its own initiative or at the suggestion of Manager, and in any event shall be subject to the approval of Manager. Major Capital Expenditures shall be the responsibility of and funded by Owner.
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Related to Major Capital Expenditures

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2006 and each Fiscal Year ending thereafter $ 5,000,000 (b) [Intentionally Deleted]

  • 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 Consolidated Capital Expenditures 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.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Limitation on Capital Expenditures Make or commit to make (by way of the acquisition of securities of a Person or otherwise) any expenditure in respect of the purchase or other acquisition of fixed or capital assets (excluding any such asset acquired in connection with normal replacement and maintenance programs properly charged to current operations) except for:

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

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