Capital Improvement Items definition

Capital Improvement Items means items recognized as capital improvements in accordance with generally accepted accounting practices that require an outlay of funds for acquisition or improvement of a fixed asset which can be depreciated over its useful life and extends the life or increases the productivity of the Improvements.

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Capital Improvement Items means (i) all actual documented costs, expenses, liabilities and expenditures for improvements made to the Coliseum Property that would be treated as capital expenditures under generally accepted accounting principles consistently applied (“GAAP”), including any that are funded by the ticket surcharge referred to in Section 4.3(f), by donations, or by contributions or work performed by an NFL team pursuant to Section 6.2(b), or by the NCAA, PAC-12, U.S. Olympic Committee, Special Olympics or other comparable entities and also including associated commercially reasonable general and administrative expenses of Tenant in connection with the construction of improvements (but not general operating expenses), (ii) the amount of the capital expenditure reserve described in Section 11.2, and (iii) a return on the Outstanding CapEx Balance as it exists from time to time at the Internal Lending Rate as it exists from time to time. Capital Improvement Items shall not include any costs, expenses, liabilities or expenditures (a) funded through government grants or other governmental funding, (b) reimbursed or otherwise covered by rebates, discounts, warranties or insurance proceeds (including self- insurance), or (c) funded by subtenants, concessionaires or licensees (other than the NFL, NCAA, PAC-12, U.S. Olympic Committee, Special Olympics or other comparable entities). Tenant shall be deemed to have been reimbursed for Capital Improvement Items that would have been covered by the insurance required to be carried by Tenant under this Agreement if Tenant breaches its obligation to carry such insurance, or if Tenant fails to diligently pursue any claim for insurance proceeds from its insurance carrier.

Capital Improvement Items means (i) all actual documented costs, expenses, liabilities and expenditures for improvements made to the Coliseum Property pursuant to Sections 11.1 and 11.2 (of this Agreement and of the Prior Agreement) that would be treated as capital expenditures under generally accepted accounting principles consistently applied (“GAAP”), including any that are funded by the ticket surcharge referred to in Section 4.3(f), by donations, or by contributions or work performed by an NFL team pursuant to Section 6.2(b), or by the NCAA, PAC-12, U.S. Olympic Committee, Special Olympics or other comparable entities and also including associated commercially reasonable general and administrative expenses of Tenant in connection with the construction of improvements (but not general operating expenses), (ii) the amount of the capital expenditure reserve described in Section 11.3, and (iii) a return on the Outstanding CapEx Balance as it exists from time to time at the Internal Lending Rate as it exists from time to time. Capital Improvement Items shall not include any costs, expenses, liabilities or expenditures (a) funded through government grants or other governmental funding, (b) reimbursed or otherwise covered by rebates, discounts, warranties or insurance proceeds (including self- insurance), or (c) funded by subtenants, concessionaires or licensees (other than the NFL, NCAA, PAC-12, U.S. Olympic Committee, Special Olympics or other comparable entities). Tenant shall be deemed to have been reimbursed for Capital Improvement Items that would have been covered by the insurance required to be carried by Tenant under this Agreement if Tenant breaches its obligation to carry such insurance, or if Tenant fails to diligently pursue any claim for insurance proceeds from its insurance carrier.

Examples of Capital Improvement Items in a sentence

• The amount of such ticket surcharge shall be Excluded Receipts to the extent such funds are applied to capital improvements, but the cost of any capital improvements funded by the ticket surcharge shall be included as Capital Improvement Items for the purposes of determining the Cumulative Calculated Amount.

• Each of the Capital Improvement Items shall be completed in a good and workmanlike manner using new materials and shall be undertaken in accordance with a reasonably detailed description thereof approved by Spie▇▇▇ ▇▇▇ with all applicable legal requirements.

• The applicable Contributors shall indemnify, defend and hold Spie▇▇▇ ▇▇▇mless from and against any and all Claims of mechanics or materialmen providing services or materials with respect to the Capital Improvement Items.

• Landlord shall also keep (a) the Building’s roof, (b) the Building’s associated surface parking areas, (c) the Common Area, and (d) Tenant Capital Improvement Items in good repair and shall make all needed repairs and replacements, the cost of which can be passed through to Tenant to the extent permitted by Section 4.2 above.

• Notwithstanding anything to the contrary provided herein, the applicable Contributors agree to undertake and complete as soon as reasonably possible, and at their sole cost and expense, those certain items described on Schedule 7.4 hereto (the "Capital Improvement Items").

• Notwithstanding the foregoing, if any of the foregoing repairs or replacements are Tenant Capital Improvement Items (defined below), they will be performed by Landlord pursuant to 8.1(i) above and chargeable to Tenant as Expenses pursuant to Section 4.2 above.

More Definitions of Capital Improvement Items

Capital Improvement Items shall have the meaning set forth in Section 7.4.