Capital Expenditure Requirements Clause Samples

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Capital Expenditure Requirements. In addition to the foregoing, the Sellers shall cause the Acquired Companies to make capital expenditures in the Ordinary Course and in a manner that will allow the Acquired Companies to complete the construction described in Section 3.19 of the Disclosure Schedule and in a manner consistent with the Capital Expenditure Budget.
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Capital Expenditure Requirements. 128 Section 6.06. Contingent Liability(ies)..............................................................129 Section 6.07. Investment Restrictions................................................................129 Section 6.08. Total Liens............................................................................130 Section 6.09. Limitation on Indebtedness.............................................................130 Section 6.10. Minimum Subordinated Debt..............................................................132 Section 6.11. Restriction on Distributions and Argosy Dividends......................................132 Section 6.12. No Change of Control...................................................................132 Section 6.13. Consolidation, Merger, Sale of Assets, etc.............................................132 Section 6.14. Transactions with Affiliates...........................................................133 Section 6.15. No Transfer of Ownership...............................................................134 Section 6.16. ERISA..................................................................................134 Section 6.17. Margin Regulations.....................................................................134 Section 6.18. Limitation on Additional Subsidiaries..................................................135 Section 6.19. Limitation on Consolidated Tax Liability...............................................135 Section 6.20. Change in Accounting Principles........................................................135
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Capital Expenditure Requirements a. During each Fiscal Year, commencing with the Fiscal Year commencing January 1, 2001, Borrowers shall make or cause to be made, Maintenance Capital Expenditures to the Hotel/Casino Facilities in a minimum aggregate amount equal to or greater than one percent (1%) of net revenues during each of the Fiscal Years ending December 31, 2001 and December 31, 2002, and during each Fiscal Year thereafter occurring equal to or greater than two percent (2%) of net revenues ("Minimum Maintenance Cap Ex Requirement") in each case determined with reference to the net revenues derived from the Hotel/Casino Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year, but in no event shall Maintenance Capital Expenditures made during any Fiscal Year be greater than a maximum aggregate amount equal to six percent (6%) of net revenues ("Maximum Maintenance Cap Ex Limit") derived from the Hotel/Casino Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year. b. In no event shall the Borrower Consolidation make Expansion Capital Expenditures greater than the cumulative maximum aggregate amount of One Hundred Five Million Dollars ($105,000,000.00) during the period commencing on the Closing Date and ending as of Credit Facility Termination."
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Capital Expenditure Requirements a. During each Fiscal Year, commencing with the Fiscal Year commencing January 1, 1999, the Borrower Consolidation shall make or cause to be made, Non-Financed Capital Expenditures to the Argosy Owned Facilities in a minimum aggregate amount equal to or greater than three percent (3%) of Net Gaming Revenues ("Minimum Cap Ex Requirement") derived from the Argosy Owned Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year, but in no event shall Non-Financed Capital Expenditures to the Argosy Owned Facilities during any Fiscal Year exceed a maximum aggregate amount equal to six percent (6%) of Net Gaming Revenues ("Maximum Cap Ex Limit") derived from the Argosy Owned Facilities by the Borrower Consolidation during the immediately preceding Fiscal Year; provided, however, to the extent the Borrower Consolidation spends less than the Maximum Cap Ex Limit during any Fiscal Year, the unused amount may be expended by the Borrower Consolidation for Non-Financed Capital Expenditures to the Argosy Owned Facilities during the next occurring Fiscal Year in addition to the Maximum Cap Ex Limit required during the next occurring Fiscal Year. The amount of any such carryover shall be deemed the first expenditures made during the next such ensuing Fiscal Year. b. Notwithstanding and in addition to the provisions set forth in Section 6.05(a) hereinabove, the Borrower Consolidation may make the Capital Expenditures to the Argosy Owned Facilities which are described on the Schedule of Excluded Capital Expenditures, Schedule 6.05(b), from assets of the Borrower Consolidation and from advances under the Bank Facilities. c. During each Fiscal Year, commencing with the Fiscal Year commencing January 1, 1999, the Borrower Consolidation shall cause to be made Non- Financed Capital Expenditures to the Lawrenceburg Casino Facilities in a minimum aggregate amount equal to Five Million Dollars ($5,000,000.00) during each Fiscal Year. d. Notwithstanding anything contained to the contrary in this Section 6.05, in no event shall the Borrower Consolidation make any Capital Expenditures except to the extent permitted under the definition of Aggregate Expenditure Availability.
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Capital Expenditure Requirements. Section 6.07 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
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Capital Expenditure Requirements. Unless approved in writing by the Requisite Lenders, no member of the Borrower Consolidation shall make any Capital Expenditures, except a member of the Borrower Consolidation may make a Capital Expenditure if the amount of such Capital Expenditures plus the aggregate amount of any other Capital Expenditures made by any member of the Borrower Consolidation during the Fiscal Year in which such proposed Capital Expenditure is to occur does not exceed Sixteen Million Seven Hundred Thousand Dollars ($16,700,000); provided, however, that the Borrower Consolidation may make Capital Expenditures for any Fiscal Year in excess of the Sixteen Million Seven Hundred Thousand Dollars ($16,700,000) permitted above so long as (i) such Capital Expenditures are necessary for a Borrower to comply with the rules and regulations mandated by any Gaming Authority and (ii) the total amount of Capital Expenditures does not exceed (I) for Fiscal Year 2008 and 2009, $33,400,000 and (II) for the first Fiscal Quarter of 2010, $4,175,000. In the event that Borrower Consolidation makes permitted Capital Expenditures for any Fiscal Year in excess of the Sixteen Million Seven Hundred Thousand Dollars ($16,700,000) permitted above, then the amount of permitted Capital Expenditures for the immediately following Fiscal Year shall be reduced by the amount of such excess.”
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Related to Capital Expenditure Requirements

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • ▇▇▇▇▇▇’S EXPENDITURES If any action or proceeding is commenced that would materially affect ▇▇▇▇▇▇’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by ▇▇▇▇▇▇▇▇. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2007 $ 7,900,000 Fiscal Year ending on or about March 31, 2008 $ 9,500,000 Fiscal Year ending on or about March 31, 2009 and each Fiscal Year ending thereafter $ 3,000,000

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).