Examples of Renovation Capital Expenditures in a sentence
The Borrower hereby acknowledges and agrees that the $14,000,000 payment described in Section 5.1(x), shall not reduce the $90,000,000 of Renovation Capital Expenditures required to be made pursuant to this Section 7.13.
The theme of the Premises shall not be materially changed without the prior written consent of the Agent other than to the extent disclosed to the Agent in writing prior to the Closing Date, provided that the Agent and Lenders hereby consent to the re-theming of the Premises as a Planet Hollywood theme consistent with the Renovation Capital Expenditures described in Exhibit L.
In the event that there is Tolling with respect to the Renovation Capital Expenditures as set forth in Section 4.3(b), the Borrower shall use its commercially reasonable efforts to commence and complete all plans, specifications, design documents, schematic drawings and related items (the "Plans and Specifications") related to Renovation Capital Expenditures and other improvements to the Premises before the second Anniversary Date.
The Borrower shall cause the Hotel Premises to be at all times open for business as a hotel, the Retail Shops to be open for business as a retail shopping center and the Casino to be open for business as a casino, except to the extent necessary to undertake the Renovation Capital Expenditures with due diligence in accordance with the provisions of Section 7.18 hereof.
The cost of any such casing, framing, displays, installation, supervision and other services provided by PHII or PHMemo under this Section 5 shall be paid by the HOTEL JV solely from the $90 Million of 15 "Renovation Capital Expenditures" required to be made by HOTEL JV under the Loan Agreement.
The theme of the Premises shall not be materially changed without the prior written consent of the Majority Holders other than to the extent disclosed to the Noteholders in writing prior to the Funding Date, provided that the Noteholders hereby consent to the re-theming of the Premises as a Planet Hollywood theme consistent with the Renovation Capital Expenditures described in Exhibit I.
If the Borrower has not spent and paid any of the foregoing amounts on Renovation Capital Expenditures by the foregoing dates, the Borrower shall make the mandatory payments of principal in the amounts and at the times set forth in Section 4.3(b) with respect to funds not spent on Renovation Capital Expenditures.
A Historical Year shall be the twelve (12) month period ending September 30 of the year immediately preceding the filing of an Evaluation Report.
The Borrower hereby acknowledges and agrees that the $14,000,000 payment described in Section 5.1(x), shall not reduce the total $90,000,000 of Renovation Capital Expenditures required to be made pursuant to this Section 7.13.
All repairs and alterations at the Premises, including, without limitation, Significant Repairs and Improvements, the Renovation Capital Expenditures and Maintenance Capital Expenditures, shall be done in a good and workmanlike manner and shall be completed substantially in accordance with all Legal Requirements and free and clear of Liens (other than Permitted Liens) or claims for materials supplied or for labor or services performed in connection with such repairs and alterations or otherwise.