Building Capital definition

Building Capital the amount of capital which the Landlord determines is invested from time to time by the Landlord and the Owners, without duplication, in acquiring, developing and improving the Building. Building Capital will not be increased by any financing or refinancing except to the extent that the proceeds are invested directly as Building Capital. In determining Building Capital, where part of the Landlord’s or the Owners’ (or any related or associated corporations’) capital is not taxable under any statute imposing a tax in respect of corporations’ capital, the exempt capital will be apportioned by the Landlord among the assets of the Landlord, the Owner and the related or associated corporations.
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Building Capital. Expenditures" will be computed by multiplying $1.75 (the "Dollar Multiplier") times the total net rentable square feet in the buildings owned by Borrower at the end of the quarterly period being tested, using a similar measurement as used for computing the net rentable square feet reported in the December 31, 1995 annual financial statements of Borrower. On the first day of January, 1998 and annually thereafter, the Dollar Multiplier used in such calculation shall be increased by 3% over the amount of the Dollar Multiplier in effect for the immediately preceding calendar year.
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Building Capital is the amount of capital which the Landlord determines, without duplication, is invested from time to time by the Landlord, the owners, or all of them, in doing all or any of the following: acquiring, developing, expanding, redeveloping and improving the Building. Building Capital will not be increased by any financing or refinancing except to the extent that the proceeds are invested directly as Building Capital. An "Applicable Rate" is the capital tax rate specified from time to time under any statute of Canada and any statute of the Province which imposes a tax in respect of the capital of corporations. Each Applicable Rate will be considered to be the rate that would apply if none of the Landlord or the owners employed capital outside of the Province.
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Examples of Building Capital in a sentence

  • Manager, at Tenant’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved in writing by Tenant.

  • Manager, at Owner’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved in writing by Owner.

  • For avoidance of doubt, Routine Capital Improvements expressly exclude Building Capital Improvements and ROI Capital Improvements.

  • Manager, at Owner’s expense, shall perform or cause to be performed all such Routine Capital Improvements and Building Capital Improvements as are provided in the Annual Budget or otherwise approved by Owner.

  • At the end of each Operating Year, all amounts not expended from the Reserve Fund shall be carried forward to the next Operating Year; provided, that in the event Owner determines not to proceed with any previously budgeted Building Capital Improvement or ROI Capital Improvement which has been funded in whole or in part through the Reserve Fund, then the unexpended funds for such Building Capital Improvement or ROI Capital Improvement shall be transferred by Manager to the Operating Account.

  • In the discretion of Owner, the Reserve Fund may also be used for the funding of Building Capital Improvements and ROI Capital Improvements.

  • Kensington Building Limited Partnership Kensington Building Capital Corp.

  • All Building Capital Improvements shall be performed at Owner’s expense, and not from funds in the Operating Account or the Reserve Fund.

  • Except as otherwise expressly set forth in this Agreement or the Financing Documents, the Reserve Fund shall be used solely for the purpose of funding Routine Capital Improvements (and not, for avoidance of doubt, Building Capital Improvements or ROI Capital Improvements).

  • Operator shall cause to be performed all Building Capital Improvements (a) as Operator deems necessary or advisable to (i) keep the Hotel in compliance with the Operating Standard, or (ii) comply with, and cure or prevent the violation of, any Applicable Laws or to remedy any condition constituting a threat to persons or property, or (b) as provided in the applicable Operating Plan or otherwise approved by Owner.