Capital Replacement. A. The Corporation shall certify to the Office, on an annual basis, that the Corporation’s Board of Directors has discussed current and projected funding requirements which would be necessary to appropriately maintain the Corporation’s physical plant and equipment. Such a certification shall be signed by the chief executive officer of the Corporation and by the President of the Corporation’s Board of Directors and shall include:
Capital Replacement. Notwithstanding the provisions of paragraph 10 of the Original Lease, except for the replacement of the HVAC systems (as to which Tenant shall bear all of the costs of replacement of HVAC systems that cannot be repaired or that are beyond their useful lives during the term of the Lease, including all repairs and alterations required to accommodate the new HVAC systems), and except for the Exterior Lighting Repair costs (which shall be governed by paragraph 5(c) of this Second Amendment), in the event any other single replacement under Original Lease paragraph 10(B) or 10(E) would be properly capitalized under generally accepted accounting principles, then (i) as to such a replacement under Original Lease paragraph 10(B), if Tenant’s Allocable Share of the cost of such replacement is more than Seventy Five Thousand Dollars ($75,000), then Tenant shall only be required to pay the first Seventy Five Thousand Dollars ($75,000) of Tenant’s Allocable Share of such cost plus that portion of the remaining portion of Tenant’s Allocable share of such cost equal to the product of such remaining portion multiplied by a fraction, the numerator of which is the number of years remaining in the Lease Term (prorated as to partial years), and the denominator of which is the useful life (in years, and prorated as to partial years) of the replacement; and (ii) as to such a replacement under Original Lease paragraph 10(E), if such replacement costs in excess of Seventy Five Thousand Dollars ($75,000), Tenant shall only be required to pay the first Seventy Five Thousand Dollars ($75,000) of the cost plus that portion of the remaining cost equal to the product of such total remaining cost multiplied by a fraction, the numerator of which is the number of years remaining in the Lease Term (prorated as to partial years), and the denominator of which is the useful life (in years, and prorated as to partial years) of the replacement.
Capital Replacement. By December 31st of each fiscal year, City agrees to make an annual capital replacement payment to the school district in the amount determined in Exhibit E-4.
Capital Replacement. 10.6.1 Subject to clauses 10.6.3 and 10.6.4, DLRL shall be responsible for the carrying out of any DLRL Capital Replacement which is contained within the current Annual Asset Management Plan and which has either been agreed between the parties or determined by DLRL in accordance with the provisions of paragraph 2(b) of Part 4 of Schedule 4. Where DLRL carries out or procures the carrying out of any DLRL Capital Replacement it shall ensure it is carried out in accordance with Good Industry Practice and in accordance with all Applicable Requirements.
Capital Replacement. Kneehill County and Carbon shall budget annual contributions to their own capital replacement plan at the percentages of ownership as stated above.
Capital Replacement. We intend, to the extent that the preference shares provide us with rating agency equity credit at the time of any redemption or repurchase, to redeem or repurchase (or to cause another person or entity to purchase) the preference shares with amounts that include net proceeds received by us from the sale or issuance, during the 180-day period prior to the notice date for such action, to third-party purchasers of securities that would provide at least as much equity credit as the preference shares at that time (determined in accordance with the standards as then in effect of a majority of the rating agencies). Public Offering Price: $25 per share; $300,000,000 total Joint Book Running Managers: Citigroup Global Markets Inc. Wachovia Capital Markets, LLC Co-Managers: Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated; Xxxxxx Xxxxxxx & Co. Incorporated; UBS Securities LLC; Banc of America Securities LLC; Deutsche Bank Securities Inc.; HSBC Securities (USA) Inc.
Capital Replacement. The Company intends to redeem the shares only from proceeds from the issuance of new capital offerings whose equity treatment is equal to, or greater than, the shares being redeemed.
Capital Replacement. Upon Borrower’s request, Lender may in its discretion agree that such Partial Payment may be used to pay amounts owed to any contractor and/or material supplier providing labor or materials for such Capital Replacement rather than to reimburse Borrower for such payment, in which event such disbursements shall be made by Lender either directly to such contractor or supplier on behalf of Borrower or by joint check to Borrower and such contractor or supplier, as Lender shall elect at its sole option.
Capital Replacement. In the event that during the Lease Term (i) the roof membrane requires replacement as reasonably determined by Landlord, (ii) any major component of any Building System servicing the Premises requires replacement, as reasonably determined by Landlord, and the cost of such replacement is in excess of $35,000, or (iii) any major component of any Building System servicing the Premises requires replacement during the last twelve (12) months of the Lease Term, as reasonably determined by Landlord (any such replacement under item (i), (ii), or (iii), above, a “Capital Replacement”), and provided that such Capital Replacement is not required because of any damage caused by Tenant or any failure of Tenant to properly maintain and repair such item in accordance with the terms of this Article 7, then Landlord shall make such Capital Replacement at Landlord’s expense, provided that Landlord shall have the right to include the cost of such Capital Replacement in Operating Expenses on an amortized basis in the manner provided in Section 4.2.4(xiii).
Capital Replacement. The Debentures are not subject to a Legally Binding Replacement Covenant, and in connection with the issuance of the Debentures the Company has not expressed a Replacement Capital Intention. However, it is understood that the Company will be permitted, without the consent of Holders, to provide for a Replacement Capital Obligation, or a Replacement Capital Intention, in respect of the Debentures in the future.
