Approved Capital Expenses. Capital Expenses incurred by Owner, provided that during a Cash Management Period, such Capital Expenses shall either be (i) included in the Approved Capital Budget for the current calendar month or (ii) approved by Lender.
Approved Capital Expenses. Capital Expenses incurred by Borrower, provided that during a Cash Management Period, such Capital Expenses shall either be (i) included in the Approved Capital Budget for the current calendar month or (ii) approved by Lender. Approved Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties that are not Affiliates of Borrower in leasing space at the Property pursuant to Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses (i) are (A) specifically approved by Lender in connection with approving the applicable Lease, (B) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, or (C) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (ii) are substantiated by executed Lease documents and brokerage agreements.
Approved Capital Expenses. Capital Expenses incurred by Borrower, provided that during a Cash Management Period, such Capital Expenses shall either be (i) included in the Approved Annual Budget for the current calendar month or (ii) approved by Lender. Approved Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties that are not Affiliates of Borrower or Guarantor in leasing space at the Property pursuant to Existing Leases or Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses (i) are required pursuant to the terms of Existing Leases, (ii) with respect to Leases entered into after the date hereof (A) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, or (B) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (iii) are substantiated by executed Lease documents and brokerage agreements. Approved Operating Expenses: during a Cash Management Period, operating expenses incurred by Borrower which (i) are included in the Approved Annual Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender.
Examples of Approved Capital Expenses in a sentence
Any such disbursement of more than $10,000 to pay (rather than reimburse) Approved Capital Expenses may, at Lender’s option, be made by joint check payable to Borrower and the payee on such Approved Capital Expenses.
Borrower shall pay to Lender on each Payment Date an amount sufficient to pay anticipated Approved Capital Expenses.
Funds held in the Capital Reserve Fund may be used for Approved Capital Expenses.
Any such disbursement of more than $10,000 to pay (rather than reimburse) Approved Capital Expenses may, at Lender's option, be made by joint check payable to Borrowers and the payee on such Approved Capital Expenses.
Any such disbursement of more than $100,000 to pay (rather than reimburse) Approved Capital Expenses may, at Lender’s option, be made by joint check payable to Borrower and the payee on such Approved Capital Expenses.
More Definitions of Approved Capital Expenses
Approved Capital Expenses means those Capital Expenses incurred by Borrower that are approved by Lender in its reasonable discretion.
Approved Capital Expenses. Capital Expenses incurred by Borrower, which Capital Expenses shall either be (i) included in the Approved Capital Budget for the current calendar year or (ii) approved by Lender in its reasonable discretion. The Capital Expenses set forth in the Capital Budget delivered to, and approved by, Lender prior to the date hereof (which Capital Budget is attached hereto as Schedule 7) shall also constitute Approved Capital Expenses hereunder. In addition, an additional $300,000 of Capital Expenses shall be deemed Approved Capital Expenses hereunder, provided such amounts are applied towards Capital Expenses incurred by Borrower which are generally consistent with the line items set forth in the Capital Budget delivered to, and approved by, Lender prior to the date hereof. Approved Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties in leasing space at the Property pursuant to Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses (i) are (A) specifically approved by Lender in connection with approving the applicable Lease, (B) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, or (C) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (ii) are substantiated by executed Lease documents and brokerage agreements.
Approved Capital Expenses. Capital Expenses incurred by Borrower or Operating Lessee which are (i) with respect to any Individual Property, no greater than one hundred and five percent (105%) of the amounts included in the approved Capital Budget for such Individual Property for the current calendar month (per line item and in the aggregate) or (ii) approved by Lender.
Approved Capital Expenses means Capital Expenses incurred by a Borrower, which Capital Expenses shall either be (i) included in the Approved Capital Expense Budget for the Property owned by such Borrower for the current calendar month or (ii) approved by Lender.
Approved Capital Expenses means Capital Expenses incurred by Borrower with respect to the Property which (i) are included in the approved Capital Budget for the Current Month for the Property, (ii) are not included in the approved Capital Budget for the Current Month but do not cause either (A) the relevant line item for the entire year covered by the approved Capital Budget for the Property to be exceeded by more than 5% or (B) the total of the approved Capital Budget for the Property for the Current Month and all prior months covered by such approved Capital Budget (i.e., year to date) to be exceeded, or (iii) have been approved by the Lender; provided, however that prior to the occurrence of a Cash Management Event, "Approved Capital Expenses" shall mean any Capital Expenses incurred by Borrower with respect to the Property in the ordinary course of business and are paid to third parties that are not Affiliates of any Owner or Banyan.
Approved Capital Expenses means any Capital Expenses incurred by Borrower with respect to the Property in the ordinary course of business and are paid to third parties that are not Affiliates of any Owner or Banyan.
Approved Capital Expenses means Capital Expenses incurred by Borrower, which Capital Expenses shall either be (i) included in the Approved Capital Expense Budget for the Property owned by Borrower for the current calendar month or (ii) approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed.