Adjusted CAPEX definition

Adjusted CAPEX means, in respect of a reserve for any Real Property, capital expenditures for replacements for any fiscal quarter, the greater of (a) $0.10 per square foot (calculated on an annual basis), or (b) actual expenditures for replacements (on a trailing four fiscal quarter basis), excluding, however, one-time expenditures that increase the rentable area of any Real Property, enhance the value of any Real Property (as opposed to maintaining the value of such Real Property), change the use of any Real Property, represent improvements to recently acquired Real Property contemplated at the time of the acquisition, or expenditures that are reimbursable by third parties not affiliated with any Loan Party.
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Examples of Adjusted CAPEX in a sentence

  • If the Adjusted CAPEX Reserve Deposit Amount is less than the Original CAPEX Reserve Deposit Amount, then Lender shall disburse to Borrower funds from the CAPEX Reserve Account in an amount equal to the difference between the Original CAPEX Reserve Deposit Amount and the Adjusted CAPEX Reserve Deposit Amount.

  • Upon Lender’s approval of such revised project budget, the amount required to be deposited into the CAPEX Reserve Account under this Section 16.6 shall be adjusted to be an amount equal to one hundred ten percent (110%) of the total amount of the Approved Project Budget (the “Adjusted CAPEX Reserve Deposit Amount”) and Borrower shall deposit with Lender additional funds in an amount equal to the difference between the Original CAPEX Reserve Deposit Amount and the Adjusted CAPEX Reserve Deposit Amount.

Related to Adjusted CAPEX

  • Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the Shares (including the Company's distribution reinvestment plan), less (ii) distributions to investors that represent a return of capital and amounts paid for share repurchases pursuant to the Company's share repurchase program. For purposes of computing the Incentive Fee, the calculation methodology will look through derivatives or swaps as if the Company owned the reference assets directly. Therefore, net interest, if any, associated with a derivative or swap (which represents the difference between (i) the interest income and fees received in respect of the reference assets of the derivative or swap and (ii) the interest expense paid by the Company to the derivative or swap counterparty) will be included in the calculation of quarterly pre-incentive fee net investment income for purposes of the Incentive Fee. The calculation of the Incentive Fee for each quarter is as follows: · No Incentive Fee shall be payable to the Advisor in any calendar quarter in which the Company's pre-incentive fee net investment income does not exceed the preferred return rate of 1.50% (6.0% annualized) (the "Preferred Return") on Adjusted Capital. · 100% of the Company's pre-incentive fee net investment income, if any, that exceeds the Preferred Return, but is less than or equal to 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor. This portion of the Company's pre-incentive fee net investment income is referred to as the "catch-up." The "catch-up" provision is intended to provide the Advisor with an incentive fee of 12.5% on all of the Company's pre-incentive fee net investment income in any calendar quarter when the Company's pre-incentive fee net investment income reaches 1.715% in such calendar quarter (6.86% annualized). · 12.5% of the amount of the Company's pre-incentive fee net investment income, if any, that exceeds 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor once the Preferred Return is reached and the catch-up has been achieved (12.5% of the Company's pre-incentive fee net investment income thereafter shall be allocated to the Advisor).

  • Adjusted Cash Flow means, for any period (the “calculation period”), the sum, for the Borrower and its Consolidated Subsidiaries (determined on a consolidated basis without duplication in accordance with GAAP), of the following: (a) Operating Cash Flow for the calculation period minus (b) Capital Expenditures made during the calculation period (excluding Capital Expenditures made from the proceeds of Indebtedness other than Indebtedness hereunder).

  • Total adjusted capital means the sum of:

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Adjusted Capital and Reserves means the aggregate of: