Initial Expenditures Clause Samples

The Initial Expenditures clause defines the costs or payments that must be made at the outset of an agreement or project. Typically, this clause outlines which party is responsible for covering upfront expenses such as deposits, setup fees, or initial purchases necessary to commence work. By clearly allocating responsibility for these early costs, the clause helps prevent disputes and ensures that both parties understand their financial obligations from the beginning of the relationship.
Initial Expenditures. Upon the formation of the Joint Venture, each of the Optionee and the Optionor will have initial actual and deemed Expenditures as follows: (a) Optionee: Cumulative Expenditures to the date of acquisition of Initial Interest ("Optionee's amount); and (b) Optionor: Optionee's amount divided by the Initial Interest times the Optionor's initial participating interest under the Joint Venture Agreement.
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Initial Expenditures. The parties intend that each Member's initial capital of $100.00 specified in Section 4.1 hereof shall be expended, subject to the control and approval of the Board of Managers, in furtherance of the following purposes of the Company: (a) Preliminary Bid Preparation. Formulating a preliminary bid for the acquisition of American Technologies Group, Inc.'s ("ATG's") Hanford, Washington and Oak Ridge, Tennessee, waste treatment and disposal facilities within the Covered Applications of this Agreement. The preliminary bid shall include, but not be limited to, estimates, schedules and financing for an acquisition within the Covered Applications of this Agreement.
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Related to Initial Expenditures

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

  • ▇▇▇▇▇▇’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.

  • 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;

  • 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

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.