Maintenance Cap definition

Maintenance Cap has the meaning set forth in Section 6.
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Maintenance Cap. $50,000 in any twelve-month period.
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Maintenance Cap. : means in relation to each year, the amount attributable to that year as calculated below:
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Examples of Maintenance Cap in a sentence

  • Notwithstanding anything herein contained to the contrary, during each of the 2008, 2009 and 2010 Fiscal Years, Borrower may, at its discretion, receive a credit toward the Minimum Maintenance Cap Ex Requirement for the amounts expended by Borrower on the Remodel Projects during each respective Fiscal Year; provided, however, the Maximum Maintenance Cap Ex Limit, as provided above, shall be determined exclusive of the Remodel Projects shown on the Schedule of Remodel Projects, Schedule 6.04 affixed hereto.

  • The City shall reimburse the Bulls for any amounts greater than the Repairs and Maintenance Cap incurred by the Bulls during the Term.

  • As soon as the Company reasonably believes that it is at approximately 80% of reaching the Annual Maintenance Cap, the Company shall so notify the Owner in writing and shall promptly recommend a revised Annual Maintenance Cap for the Agreement Year sufficient to accomplish Maintenance of the System through the end of the Agreement Year, subject to the Owner’s approval, which shall not be unreasonably withheld.

  • In the event the Owner shall approve a proposed expenditure by the Company which causes expenditures for Maintenance to exceed the Annual Maintenance Cap, the Company shall proceed with the work and the Owner shall reimburse the Company for the cost of all materials, supplies, equipment rental and subcontracting costs related to such work, no later than thirty-five (35) days from the date of receipt of an invoice therefore.

  • The Annual Maintenance Cap shall be increased each year by the same percentage that the Annual Fee increases each year.

  • Where the Contractor fails to provide a notice pursuant to Clause 7.2, the Contractor shall be responsible for any expenditure incurred in the provision of the Maintenance Services in excess of the Maintenance Cap.

  • Repairs and/or replacement of the HVAC system in excess of the HVAC Maintenance Cap annually shall be the responsibility of Landlord, except to the extent caused by Tenant’s negligence or willful misconduct.

  • If approved by Owner in writing, the Annual Fee shall be adjusted to reflect such revision in the Annual Maintenance Cap.

  • Landlord shall be solely responsible for all costs in excess of the Dock Maintenance Cap.

  • As soon as the Company reasonably believes that it is at approximately 50% of reaching the Annual Maintenance Cap, it will notify the Owner in writing.

Related to Maintenance Cap

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or through the 49th day after such Valuation Date in the event the then current Dividend Period will not end within 49

  • Maintenance Period shall have the meaning set forth in Clause 14.1; “Maintenance Requirements” shall have the meaning set forth in Clause 14.2;

  • Maintenance Capital Expenditure means cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by a Group Member made to maintain, over the long term, the operating capacity or operating income of the Partnership Group. For purposes of this definition, “long term” generally refers to a period of not less than twelve months.

  • Maintenance Charges means the proportionate amount of Common Expenses payable monthly by the Allottee to the Maintenance Agency;