Maximum Capital Expenditure Sample Clauses
The Maximum Capital Expenditure clause sets a limit on the amount of money that can be spent on capital improvements or investments within a specified period or for a particular project. Typically, this clause outlines a monetary cap and may require prior approval from certain parties if expenditures are expected to exceed the set threshold. By establishing clear spending boundaries, the clause helps control costs, prevent unauthorized or excessive investments, and ensure that all parties are aware of and agree to significant capital outlays.
Maximum Capital Expenditure. It will not, and will procure that no other member of the Group will, undertake any, or enter into any financial commitments with respect to, Capital Expenditure in any financial year if the total Capital Expenditure of all members of the Group in such financial year would exceed the Budgeted Capital 174 Expenditure for such financial year but so that, during the Finance Period, Newco 2 can incur additional Capital Expenditure which is not otherwise permitted under this paragraph 1.4 not exceeding, in aggregate, (pound)10,000,000 (or its equivalent at the date of expenditure).
Maximum Capital Expenditure. In respect of each of the annual Accounting Periods ending on or about the dates set out in column (1) below (each an “Expenditure Period”) the Group taken as a whole will not make Capital Expenditure (excluding: (a) Capital Expenditure to the extent paid out of disposal or insurance proceeds received in respect of a damaged or destroyed asset; (b) Capital Expenditure to the extent paid out of the Excess Cash Flow for such period that is not prepaid under Subclause 11.6 (Mandatory Prepayment - Excess Cash Flow) or from Permitted Equity Injections; (c) to the extent it has been included in Capital Expenditure, the amount of consideration for the Target Shares and related costs and expenses to the extent provided for in the Structure Memorandum and/or Funds Flow Statement and/or the Financial Model; and (d) Capital Expenditure financed by hire purchase or a finance lease to the extent permitted under this Agreement) on assets in excess of the amount set out in column (2) below against the relevant date:
(1) (2) 31/12/06 440.0 31/12/07 410.0 31/12/08 365.0 31/12/09 345.0 31/12/10 360.0 31/12/11 435.0 31/12/12 435.0 31/12/13 395.0 31/12/14 395.0
(a) up to fifty per cent. (50%) of any such Capital Expenditure limit not utilised in any Expenditure Period may be carried forward for one Expenditure Period only and added (otherwise than for the purposes of the further application of this proviso) to the Capital Expenditure limit for the next Expenditure Period; and
(b) in any Expenditure Period up to fifty per cent. (50%) of the Capital Expenditure limit for the next Expenditure Period may be utilised in the current Expenditure Period (the “Brought Forward Amount”), with the Capital Expenditure for the next Expenditure Period being reduced by an amount equal to the Brought Forward Amount. Any amount carried forward from one Expenditure Period to the next shall be deemed to be spent before all of the other capital expenditure permitted to be spent in such Expenditure Period has been spent.
Maximum Capital Expenditure. (i) The Credit Parties shall not make and shall not cause or permit their Subsidiaries to make Capital Expenditures in any Fiscal Year in excess of $5,000,000.
(ii) [reserved]; provided, however, the Required Lenders may approve, in their sole discretion, additional Capital Expenditures by providing prior written consent.
3.9 Section 7.1 shall be amended by adding the following clause in the appropriate alphabetical order:
Maximum Capital Expenditure. In any Fiscal Year, permit Capital Expenditures to exceed the amounts set forth below: 2006 $ 25,000,000 2007 $ 23,500,000 2008 and thereafter $ 22,000,000 provided that the maximum amount of Capital Expenditures permitted by this Section 10.4 in any Fiscal Year shall be increased by the amount of Capital Expenditures that were permitted to be made under this Section 10.4 in the immediately preceding Fiscal Year (without giving effect to any carryover amount from prior Fiscal Years) over the amount of Capital Expenditures actually made during such preceding Fiscal Year. Notwithstanding anything to the contrary in this Section 10.4, if, as of any fiscal quarter end, the Leverage Ratio is less than 3.00 to 1.00, the amount of Capital Expenditures shall not be limited provided that such Leverage Ratio remains less than 3.00 to 1.00 both before and after giving effect to such Capital Expenditure.
Maximum Capital Expenditure. PES and its Restricted Subsidiaries will not allow aggregate Capital Expenditures to exceed (a) $10 million in fiscal year 2011 (which amount shall be prorated in the case of such fiscal year 2011) and (b) $30 million in each fiscal year thereafter (the “Capex Limit”); provided that, to the extent the aggregate Capital Expenditures in any one fiscal year are less than the Capex Limit, then PES and its Restricted Subsidiaries may carry forward such unused amounts to be applied in subsequent fiscal years; and provided, further, that for purposes of the Capex Limit, the following shall not be counted: (i) $160 million in anticipated expenditures for new equipment (as set forth under the “Use of Proceeds” sections in (x) the Offering Circular and (y) the offering circular as to the issuance of $50 million of Additional Notes as permitted by Section 4.09(b)(7)), (ii) additional equipment purchases permitted pursuant to Section 4.09(b)(7), (iii) the acquisition of WSB or its assets as contemplated by the Lease Purchase Agreement, and (iv) Capital Expenditures made with any Remaining Amount or the net cash proceeds of any Equity Offering. All Capital Expenditures shall first be applied to reduce the carry-forward from the previous fiscal year (or portion thereof), if any, and then to reduce the applicable Capex Limit for the current fiscal year.”
Maximum Capital Expenditure. In respect of each period set out in column (1) below (each an Expenditure Period), the Company will procure that the Group taken as a whole will not make Capital Expenditure in excess of the amount (each a Capital Expenditure Limit) set out in column (2) below opposite the relevant period:
(1) Expenditure Period
(2) Capital Expenditure Limit (USD)
(i) for the purposes of this Subclause, Capital Expenditure funded by cash contributed by the Investor will be excluded in determining whether or not a Capital Expenditure Limit has been exceeded;
(ii) up to fifty per cent. (50 per cent.) of any such Capital Expenditure Limit not utilised in any Expenditure Period may be carried forward for one Expenditure Period only and added (otherwise than for the purposes of the further application of this proviso) to the Capital Expenditure Limit for the next Expenditure Period. Any amount carried forward from one Expenditure Period to the next shall only be utilised after the original Capital Expenditure Limit for such next Expenditure Period has been utilised in full and if not utilised within such next Expenditure Period shall lapse; and
(iii) the Company shall procure that the Group will not make Capital Expenditure if doing so would result in a breach of the Fixed Charges Coverage Ratio.
Maximum Capital Expenditure. The Borrower shall not in any financial year below incur Capital Expenditure in excess of the Sek 5,000,000.
Maximum Capital Expenditure. The Beneficiary undertakes to procure that, on each Test Date indicated under Table 3 below, the aggregate amount of the Capital Expenditures incurred during the Test Period ending on the relevant date, shall be lower than the amount indicated in such Table 3 in front of the relevant Test Date. Compliance with the following financial covenants on a Test Date shall be calculated with reference to the Test Period ending on such Test Date and on the basis of the accounting documentation delivered, or, as the case may be, to be delivered to the Lending Party pursuant to Article 1(A) points (1) and (2) of Annex 14 of the Loan Agreement. 31 March 2010 USD 16,100,000.00 31 March 2011 USD 28,750,000.00 31 March 2012 USD 34,500,000.00
Maximum Capital Expenditure. In any Fiscal Year, permit Capital Expenditures to exceed the amounts set forth below: Fiscal Year Amount ----------- ------ 2000 42,000,000 2001 66,000,000 2002 50,500,000 2003 16,000,000 2004 16,000,000 2005 16,250,000 2006 16,250,000 2007 16,500,000 2008 16,500,000 ;provided that permitted Capital Expenditures not used in any Fiscal Year may be applied to the next succeeding Fiscal Year.
Maximum Capital Expenditure. At the end of each fiscal quarter set forth below, not permit consolidated Capital Expenditures for each consecutive four fiscal quarterly periods (except that until the fiscal quarter ending March 31, 2003 such measurements shall be made for the fiscal quarterly periods from April 1, 2002 and until the end of the fiscal quarter set forth below) to exceed the corresponding amount set forth below: Amount of Capital Period Ending In Expenditure ---------------- ----------- September 30, 2002 $43,492,000 December 31, 2002 $63,358,000 March 31, 2003 $81,052,000 June 30, 2003 $85,477,000 September 30, 2003 $72,948,000 December 31, 2003 $78,777,000 March 31, 2004 $82,755,000 June 30, 2004 $86,729,000 September 30, 2004 $90,704,000 December 31, 2004 $86,678,000 March 31, 2005 $93,123,000 June 30, 2005 $99,564,000