Minimum Capital Expenditures. (i) Intentionally omitted.
Minimum Capital Expenditures. During the second Lease Year, Tenant shall make at least Three Hundred Dollars ($300) per-licensed-bed of Qualified Capital Expenditures, and thereafter throughout the Term, Tenant shall in each Lease Year make Qualified Capital Expenditures in an amount equal to the amount of such expenditures required for the immediately preceding Lease Year, multiplied by the percentage increase in the Cost of Living Index from the first day of the prior Lease Year to the first day of the current Lease Year. The amount of Qualified Capital Expenditures per-licensed-bed may never be less in any Lease Year than the amount established in the prior Lease Year.
Minimum Capital Expenditures. During the first Lease Year, Tenant shall make at least Three Hundred Dollars ($300.00) per-licensed-bed of Qualified Capital Expenditures, and thereafter throughout the Term, Tenant shall in each Lease Year make Qualified Capital Expenditures in such amount increased annually in proportion by the increase in the Cost of Living Index from the first day of the prior Lease Year to the first day of the current Lease Year. The amount of Qualified Capital Expenditures per-licensed-bed may never be less in any Lease Year than the amount established in the prior Lease Year.
Minimum Capital Expenditures. Collectively with all Credit Parties, make Capital Expenditures, measured on a Fiscal Year-end basis for the 12-month period ending December 31, 2003, of at least $10,000,000.
Minimum Capital Expenditures. Lessees shall make Qualified Capital Expenditures of at least Three Hundred ($300.00) Dollars per-licensed-bed for the improvement of each Facility during the Lease Year beginning January 1, 1999, and thereafter throughout the Term, in each Lease Year Lessees shall make Qualified Capital Expenditures for the improvement of each Facility of at least such amount increased annually in proportion to increases in the CPI. At least annually, at the request of Lessor, Lessor and Lessees shall review capital expenditures budgets and mutually agree on modifications, if any, to such budgets as may be required by changed circumstances and the changed conditions of the Leased Property. If Lessor and Lessees are unable to come to agreement on such modifications., the parties shall resolve any such dispute in accordance with Article XXXVII hereof.
Minimum Capital Expenditures. Beginning with the 2001 Lease Year and during the remainder of the Initial Term and any and all Extended Terms, Tenant agrees that during each Lease Year it will on average incur repair and maintenance costs for the Facility ("Capital Expenditures") (exclusive of the categories of costs set out below) which must be accounted for as capitalized expenditures under generally accepted accounting principles in the minimum amount of $300.00 per unit per year. In meeting the required amount of Capital Expenditures, Tenant shall not include amounts incurred for any of the following purposes:
Minimum Capital Expenditures. During each Accounting Year, Tenant shall expend or escrow for Reserve Expenditures with respect to the Facilities an aggregate amount equal to the Applicable Reserve Amount. This obligation is satisfied by Tenant’s monthly transfers into the Reserve Account of one-twelfth (1/12th) of the Applicable Reserve Amount as provided in Section 5.2.3, and any initial deposit required by Section 5.2.2 as of the Effective Date. “Reserve Expenditures” qualify as such whether or not paid out of the Reserve. Deposits into the Reserve are deemed to be escrow payments for purposes of this covenant. Nothing in this Section 17.8.2 shall in any manner limit the obligations of Tenant under Article 5 of this Lease. 70 Master Lease
Minimum Capital Expenditures. At all times for each calendar year while any obligations owed to Lender by Borrowers or Guarantor remains outstanding, Borrowers shall expend, or cause to be expended, a Minimum Annual Capital Expenditure of Four Hundred Dollars ($400) (increased annually to reflect increases in the CPI) per bed on Qualified Capital Expenditures with respect to the Facilities.
Minimum Capital Expenditures. Borrowers and Their Subsidiaries on a consolidated basis shall not make Capital Expenditures in excess of (i) $600,000 in the aggregate during Fiscal Year 2001, and (ii) $1,500,000 during any Fiscal Year after Fiscal Year 2001.
Minimum Capital Expenditures. Each year, Tenant agrees that Tenant will incur expenditures (“Capital Expenditures”) at each Leased Property in the amount of Five Hundred Dollars ($500) per licensed bed (the “Targeted Expenditure Amount”) on an aggregate basis, which expenditures are either (a) accounted for as capitalized expenditures under generally accepted accounting principles and in accordance with Tenant’s capitalization policy or (b) made for capital equipment at the Leased Property. With respect to the final calendar year during which this Lease expires or is terminated, Tenant shall pay to Landlord any shortage in required Capital Expenditures based upon the Targeted Expenditure Amount; provided, however, the Targeted Expenditure Amount shall be prorated on a daily basis for any period of less than a full calendar year. The Targeted Expenditure Amount shall also be prorated on a daily basis for the first year this Section applies. Notwithstanding any provision contained herein to the contrary, Tenant may incur amounts in any calendar year in excess of the Targeted Expenditure Amount and the excess shall be credited in reduction of the Targeted Expenditure Amount measured on a rolling three (3) year basis; compliance shall be measured on a rolling three (3) year basis.
