Material Expenditure definition

Material Expenditure means any expenditure by the Company exceeding $15,000 or a total of $25,000 determined on an annual basis.
View Source

Examples of Material Expenditure in a sentence

  • Further, in the event Provider is required to make any single expenditure in excess of $25,000 (any such item and/or service, a “Material Expenditure Item”) during the Initial Term or any Renewal Term in respect of any Transitional Service, Provider will provide written notice to Recipient of such Material Expenditure Item and the cost associated therewith and within five (5) days after receipt of such notice, Recipient will either consent or reject to the incurrence of such cost by Provider.

  • If Recipient rejects such Material Expenditure Item, Provider shall have no obligation to continue to provide any Transitional Service associated with such Material Expenditure Item.

  • If Recipient consents to such cost, Recipient will be responsible for 100% of the costs and expenses associated with such Material Expenditure Item and will promptly reimburse Provider for the full amount thereof.

Related to Material Expenditure

  • Capital Expenditure means expenditure on: a) the acquisition of land and buildings; b) the erection, enlargement, improvement or demolition of any building including fixed plant, installation, wall, fence or other structure, or any playground or hard standing;

  • Capital Expenditures means, with respect to any Person for any period, the aggregate amount of all expenditures (whether paid in cash or accrued as a liability) by such Person during that period for the acquisition or leasing (pursuant to a Capital Lease) of fixed or capital assets or additions to property, plant, or equipment (including replacements, capitalized repairs, and improvements) which should be capitalized on the balance sheet of such Person in accordance with GAAP.

  • local expenditures means expenditures in the currency of the Borrower or for goods or services supplied from the territory of the Borrower; and

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • Independent expenditure means an expenditure by a person: