Examples of CapEx Work in a sentence
CapEx Work Means: “[A]ll capital modifications, replacements, or additions to the Ballpark.” Section1.1, page 5.
The Automobile Liability insurance must include the PFD as an additional insured for all claims arising in connection with the Club’s use and management of the Leased Premises and the Club’s Operations, Maintenance and CapEx Work.
As of the Effective Date, any and all unanticipated capital costs, as referenced in such settlement agreement, shall constitute CapEx Work pursuant to this Agreement.
The PFD shall establish and fund a CapEx Fund (the “CapEx Fund”), from which costs and expenses for CapEx Work shall be paid, consistent with Section 7.4.
Pursuant to Section 2 of the Funding Agreement, the PFD shall: (a) ensure the Club identifies in its CapEx Work Plan those CapEx Expenses the Club believes are eligible expenditures from the County Tax Revenues Fund (the “County Eligible CapEx Work”); and (b) provide advance notice to the County of the same, prior to disbursing County Tax Revenues for such CapEx Work.
This is evidenced by the fact that we are moving to more hybrid courses, all course grades are required to be posted on the Intranet, students have access to and are utilizing technology to email faculty and staff.
If and to the extent the Club undertakes certain CapEx Work that would give rise to an exception in the coverage provided in Section 9.3.1, above, the Club shall purchase and keep in force Builders’ Risk insurance against all insurable risk, including earthquake and flood, in an amount equal to 100% of the completed value of such CapEx Work undertaken by the Club pursuant to the CapEx Work Plan until such time as such CapEx Work is completed.
The availability of funds in the County Tax Revenues Fund from which the PFD may pay for County Eligible CapEx Work (defined below) is subject to: (i) satisfaction of conditions precedent to the County’s obligation to transfer County Tax Revenues to the PFD, pursuant to Section 1 of the Funding Agreement; and (ii) the PFD’s actual receipt of such funds from the County.
The Club may not be reimbursed from the CapEx Fund for CapEx Work undertaken by the Club if such reimbursement would reduce the balance of the CapEx Fund below $3,000,000 (the “Minimum Balance”), nor shall funds from the CapEx Fund directly pay CapEx Expenses if such direct payment would cause the balance of the CapEx Fund to fall below the Minimum Balance.
The Club shall promptly reimburse to the CapEx Fund any amounts paid therefrom for any CapEx Work to the extent the Club receives funds from any source as reimbursement for CapEx Expenses incurred during the Term (including, but not limited to, insurance proceeds and recovery from third parties).