Initial Capital Expenditures definition
Initial Capital Expenditures means Capital Expenditures incurred as part of a program of spending to improve any Properties acquired after the Closing Date; provided that such Initial Capital Expenditures are (x) identified prior to any such acquisition of Property and (y) completed within one year after the closing of such acquisition of Property.
Initial Capital Expenditures means Capital Expenditures incurred as part of a program of spending to improve any Properties acquired after the Initial Closing Date; PROVIDED that such Initial Capital Expenditures are (x) identified prior to any such acquisition of Property and (y) completed within one year after the closing of such acquisition of Property.
Initial Capital Expenditures means those actual expenditures incurred by Borrower and capitalized in accordance with GAAP, necessary for the Property to be deemed renovated and suitable to be leased to an initial Tenant and performed before the Property becomes a Stabilized Property, each as certified by a Responsible Officer of the Borrower in a Completion Certificate delivered to the Diligence Agent and the Administrative Agent, together with reasonably satisfactory evidence supporting such Initial Capital Expenditures as the Agents may request; provided that, the Administrative Agent shall have a right to, or at the direction of the Required Lenders shall, recalculate the Initial Capital Expenditures in any case where it considers the supporting evidence not reasonably satisfactory. For the avoidance of doubt, Initial Capital Expenditures do not include any fees, costs or expenses associated with any ongoing recurring repairs or maintenance to any Property.
Examples of Initial Capital Expenditures in a sentence
Modulator / Exciter Encoder Multiplexer PSIP Generator STL Equipment Host shall bear the costs for any Initial Capital Expenditures.
More Definitions of Initial Capital Expenditures
Initial Capital Expenditures means those initial capital expenditures necessary for the Contributed REO Property to be deemed renovated and suitable to be leased to an initial Tenant.