Capex Adjustment definition

Capex Adjustment means the aggregate capex adjustment for Capex Plan and Annual Capex Plan, and shall be:

Capex Adjustment means, in respect of any fiscal year for which Excess Cash Flow is required to be calculated hereunder, an amount equal to any liabilities in respect of payment for Capital Expenditures for such fiscal year that are included in the Borrower's consolidated current liabilities as of the end of such fiscal year for purposes of determining the increase or decrease in Net Working Capital for such fiscal year, but only to the extent that such liabilities are paid in cash prior to the last day of the first fiscal quarter of the immediately succeeding fiscal year; provided that the Borrower may elect, in its discretion, to exclude any such amount in calculating the Excess Cash Flow for such fiscal year, in which case the "Capex Adjustment" shall be such lesser amount (not less than zero) as the Borrower shall elect in calculating Excess Cash Flow for such fiscal year.

Capex Adjustment means an amount equal to (i) the Capex Planned Amount, minus (ii) the aggregate amount of all capital expenditures actually incurred by the Company and the Subsidiaries from and after the date of this Agreement and prior to the Closing Date; provided that, in the event clause (ii) is greater than clause (i), the Capex Adjustment shall be deemed to be zero.

Examples of Capex Adjustment in a sentence

• The Final Purchase Consideration shall mean INR 26,490,000,000 (Rupees Twenty Six Billion Four Hundred Ninety Million) (“ Purchase Consideration”) as adjusted by increase / (decrease) in Working Capital Adjustment (as computed in Schedule 1 Part A) and (increase)/ decrease in Capex Adjustment (as computed in Schedule 1 Part B) (such adjusted amount, the “Final PurchaseConsideration”).

• It is clarified that if the Capex Adjustment is a positive number, the absolute amount will be deducted from the Completion Date Payment /Final Purchase Consideration.

• Creditors for Capital Goods and Capital Advances to the extent considered in Capex Adjustment will not be considered in the above Working Capital Adjustment.

• The Completion Date Payment will consist of Purchase Consideration as adjusted by Estimated Working Capital Adjustment (i.e, if the Estimated Working Capital Amount is greater than the Target Working Capital then such Estimated Working Capital Adjustment is to be added and vice versa) and shall be further adjusted by the Estimated Capex Adjustment (as computed in Schedule 1 Part B).

• If the Capex Adjustment is a negative number, the absolute amount will be added to the Completion Date Payment/Final Purchase Consideration.It is clarified with respect to the Capex Plan that if the Transferor Company completes such capex items to a generally acceptable standard but at a lower or higher cost than the amount set out in the Capex Plan, the difference, shall be to the account of the Transferor Company.

More Definitions of Capex Adjustment

Capex Adjustment means Funded CapEx minus the CapEx Target, expressed as a positive number if positive, and as a negative number if negative, each calculated immediately before the Closing.

Capex Adjustment means (a) 50% of any capital expenditures (or portion thereof), including ELG Capital Expenditures, to the extent funded by WPCo in an amount in excess of 50% of the total amount thereof on or prior to December 31, 2028, plus (b) an amount equal to the WACC for the amounts included in clause (a), applied to all of such amounts using thethen-applicable WACC from the dates of funding through the closing date of the consummation of the Buyout Transaction.

Capex Adjustment means, for each project set forth in the Capital Expenditure Budget the amounts set forth in such Capital Expenditure Budget for each such project minus costs incurred and paid by Seller in connection with such projects prior to the earlier of (A) the Adjustment Date and (B) the Closing Date, without duplication of any items that are taken into account in Working Capital. The Capex Adjustment for each project shall not be less than $0.

Capex Adjustment means: (a) if the Capex is greater than the Target Capex by an amount exceeding 1 per cent. of Target Capex, the amount of such surplus (defined as a positive number) over 1 per cent. of Target Capex; or (b) if the Capex is less than the Target Capex by an amount exceeding 1 per cent. of the Target Capex, the amount of such deficit (defined as a negative number) over 1 per cent. of the Target Capex;

Capex Adjustment means the sum of (a) with respect to each line item of capital expenditures set forth on the CapEx Schedule other than “Routine Capex” and “IT Capex,” (as indicated on the CapEx Schedule) an amount equal to Actual CapEx minus Scheduled CapEx with respect to such line item, which amount may be positive or negative, and (b) with respect to Routine Capex and IT Capex, (x) if Actual CapEx is greater than or equal to ninety percent (90%) of Scheduled CapEx, an amount equal to zero dollars ($0), or (y) if Actual CapEx is less than ninety percent (90%) of Scheduled CapEx, the amount by which Actual CapEx is less than ninety percent (90%) of Scheduled CapEx, expressed as a negative number. In no event will lease buyouts or repurchases be considered CapEx or be included in the CapEx Adjustment.

Capex Adjustment means, with respect to any fiscal year, an amount equal to (a) an additional amount of $500,000 for each Rig above an aggregate of 17 Rigs that the Company operates during such fiscal year, plus (b) an amount equal to costs incurred to reactivate any Rig, so long as (i) the Company has a signed contract with a customer with respect to each such Rig of at least one (1) year duration providing for early termination payments consistent with past practice equal to at least the expected margin on the contract, (ii) the expected margin on such Rig contract will be equal to or exceed the reactivation Capital Expenditures subject to this CapEx Adjustment in clause (b), and (iii) the reactivation Capital Expenditures, Rig contract and the expected margin calculation are approved by the Board of Directors and (c) an amount equal to such other Capital Expenditures specifically approved by written or electronic consent by both (i) the Required Holders (which approval may, for the avoidance of doubt, be provided by the Required Holders in their sole discretion for an amount of Capital Expenditures to be committed or made by the Company or a Subsidiary of the Company within ninety (90) days after the date of such consent) and (ii) the Board of Directors of the Company.

Capex Adjustment has the meaning set forth in Section 2.05(h).