Maintenance Capital Project definition

Maintenance Capital Project means any (a) addition to or improvement or replacement of the capital assets owned by any Group Member, (b) acquisition (through an asset acquisition, merger, stock acquisition or other form of investment) of existing, or the construction of new, capital assets (including gathering systems, pipelines, storage facilities and related or similar midstream assets) or (c) capital contribution by a Group Member to a Person that is not a Subsidiary in which a Group Member has, or after such capital contribution will have, directly or indirectly, an equity interest to fund such Group Member’s pro rata share of the cost of the addition to or improvement or replacement of such Person’s capital assets, or the acquisition (through an asset acquisition, merger, stock acquisition or other form of investment) of existing, or the construction of new, capital assets (including gathering systems, pipelines, storage facilities and related or similar midstream assets) by such Person, in each case if and to the extent such addition, improvement, replacement, acquisition or construction is made to maintain the long-term operating capacity or operating income of the Partnership Group, in the case of clauses (a) and (b), or such Person, in the case of clause (c).
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Maintenance Capital Project means a Capital Project with respect to --------------------------- the Plant Facilities or an Infrastructure Asset as to which the primary purpose is, in the Operator's reasonable judgment, to maintain the Plant Facilities or an Infrastructure Asset within either Complex in Exhibit A - 12 their respective condition and performance levels existing as of the Closing Date. The restoration of the Plant Facilities or an Infrastructure Asset following a Casualty shall be considered a Maintenance Capital Project. The Parties acknowledge that Maintenance Capital Projects may also result in enhanced efficiency or other performance characteristics.
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Maintenance Capital Project means a Capital Project as to which the primary purpose is, in the Operator's reasonable judgement, to either (a) maintain the PO-11 Plant Facilities in their condition in accordance with the initial operating design specifications and parameters for the PO-11 Plant Facilities or (b) maintain or achieve the Key Performance Indicators. The restoration of the PO-11 Plant Facilities following a Casualty shall be considered a Maintenance Capital Project. The Parties acknowledge that Maintenance Capital Projects may also result in enhanced efficiency or other performance characteristics.
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Examples of Maintenance Capital Project in a sentence

  • For any Casualty below the foregoing threshold or above the foregoing threshold as to which the Partners timely vote to restore the Plant Facilities, the restoration shall be treated in the same manner as a Maintenance Capital Project for purposes of this Agreement and the General Partner shall diligently prosecute the restoration to completion, provided the Partners timely fund their share of Casualty Restoration Costs.

  • Where restoration of the PO-11 Plant Facilities is to take place either by agreement between the Partners or otherwise in accordance with the terms of this Article 22, such restoration shall be to the condition existing prior to the Casualty with such changes as agreed by the Partners and shall be treated as a Maintenance Capital Project.

  • For each such itemized Maintenance Capital Project and EHS Capital Project, the capital budget shall identify the PO Share of the budgeted Capital Costs for such Capital Project and the methodology used to determine the PO Share in accordance with Exhibit D of the Operating --------- Agreement.