Payment for Capital Improvements Clause Samples

The Payment for Capital Improvements clause defines how costs associated with significant upgrades or additions to a property or asset are to be paid. Typically, this clause outlines which party—such as a landlord or tenant in a lease agreement—is responsible for funding capital improvements, and may specify procedures for approval, reimbursement, or cost-sharing. Its core function is to allocate financial responsibility for major improvements, thereby preventing disputes and ensuring clarity regarding who bears the expense of enhancing the property.
Payment for Capital Improvements. The actual cost of Capital Improvements shall be the sole responsibility of Owner. Operator shall not incur any expenditure in relation to any Capital Improvements without the prior written consent of Owner.
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Payment for Capital Improvements. 24 4.8 GE Equipment........................................... 25 4.9 Wage Increases in Excess of CPI........................ 25 V.
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Payment for Capital Improvements. Within the First Five Years of Agreement – In years one through five (inclusive) of the Agreement the Village shall hold the base system fees collected from each District in separate escrow accounts. The money in these accounts shall be used specifically and solely for covering Capital Improvement costs incurred in each individual District during the first five years of this agreement. The Town (District) will be responsible to reimburse the Village for the cost of the Capital Improvement, costs above what is available in the escrow account for the District in which this particular Capital Improvement was incurred, in the percentages outlined in the table below: Year 1 100% Year 2 80% Year 3 60% Year 4 40% Year 5 20% The Village shall provide annual financial reports for the escrow accounts set up for each district within 90 days of the end of the Village fiscal year.
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Payment for Capital Improvements. The funds in the Capital Expenditure Reserve Fund shall not be used for Ordinary Maintenance or Alterations, but shall be used solely for the payment of Capital Improvements as set forth herein. Subject to the terms of this Agreement, the cost of Capital Improvements shall be paid from the Capital Expenditure Reserve Fund. To the extent that funds in the Capital Expenditure Reserve Fund are not sufficient to pay for any authorized Capital Improvements, the City shall fund and pay for such shortfall. The Saints shall have no obligation to pay for Capital Improvements to the Ballpark or the Appurtenant Area except from funds made available for such purpose by the City, either from the Capital Expenditure Reserve Fund or otherwise.
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Payment for Capital Improvements. Subject to Section 4.1(f), funds for the payment of the Construction Costs incurred during the Support Term will be provided by or on behalf of the Trust in advance of the date when such funds are required by the Operator, so that the Operator will not have to advance any funds on behalf of the Trust. The foregoing shall not prevent the Trust from recovering for any claim it may have against the User under the Operative Documents. (but in no event less than thirty (30) days prior to such date).
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Payment for Capital Improvements. Beyond Year Five of the Agreement – The Village shall be responsible for 100% of all Capital Improvement costs starting on the first day of year six of this agreement for the remainder of the term of this agreement.
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Related to Payment for Capital Improvements

  • Payment for Improvements If payment is made directly to contractors, Tenant shall (i) comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and (ii) sign Landlord's standard contractor's rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay to Landlord an amount equal to five percent of the cost of such work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

  • Capital Improvements From and after Final Completion, Tenant shall not replace or materially alter the Project, or any part thereof (except as provided to the contrary with respect to Fixtures in Article 13), or make any addition thereto, whether voluntarily or in connection with repairs required by this Lease (collectively, “Capital Improvements”), unless Tenant shall comply with the following requirements and, if applicable, with the additional requirements set forth in Section 11.10: (a) No Capital Improvements shall be undertaken, as applicable, until Tenant shall have procured from all Governmental Authorities and paid for all permits, consents, certificates and approvals for the proposed Capital Improvements which are required to be obtained prior to the commencement of the proposed Capital Improvements (collectively, “Improvement Approvals”). The FCRHA shall not unreasonably refuse to join or otherwise unreasonably refuse to cooperate in the application for any such Improvement Approvals, provided such application is made without cost, expense or liability (contingent or otherwise) to the FCRHA. True copies of all such Improvement Approvals shall be delivered by Tenant to the FCRHA prior to commencement of the proposed Capital Improvements. (b) The Premises after completion of such Capital Improvements, shall have a value at least equal to the value of the Premises immediately before construction of such Capital Improvements. In addition, the Project shall at all times remain in substantial conformity with the original Plans and Specifications therefor (except to the extent specifically consented to by the FCRHA, in its sole but reasonable discretion). (c) All Capital Improvements shall be made with reasonable diligence and continuity (subject to Unavoidable Delays) and in a good and workmanlike manner and in compliance with (i) all Improvement Approvals, (ii) if required pursuant to Section 11.10(a) or (b), in substantial accordance with the plans and specifications for such Capital Improvements as approved by the FCRHA, and (iii) all Applicable Laws. (d) No construction of any Capital Improvement shall be commenced until Tenant shall have delivered to the FCRHA certificates of insurance and copies of the declaration page(s) for the insurance required by Exhibit D. Such insurance policies shall comply with the terms of Section 7.02 above.

  • PAYMENT FOR WORK The H-GAC Customer is responsible for making payment to the Contractor upon delivery and acceptance of the goods or completion of the services and submission of the subsequent invoice.

  • Payment for Project Services As full consideration for the Services to be performed by Contractor, City agrees to pay Contractor as set forth in accordance with the bid and not to exceed fee of $115,365.50 for the project. A monthly progress payment in the amount of ninety-five percent (95%) of the value of the work completed may be made every thirty (30) days upon application by the Contractor and certification by the Project Manager that such work has been completed. Partial payments will be made once each month as the work satisfactorily progresses and after acceptance by the authorized City representative. The progress estimates shall be based upon materials in place, or on the job site and invoiced, and labor expended thereon. From the total of the amount ascertained will be deducted an amount equivalent to five percent (5%) of the whole, which five percent (5%) will be retained by the City until after completion of the entire Contract in an acceptable manner. Any time after fifty percent (50%) of the value of the work has been completed, the City will make any of the remaining partial payments in full. No such estimates or payments shall be required to be made, when, in the judgment of the City Project Manager, the work is not proceeding in accordance with the provision of the Contract, or when in his judgment the total value of the work done since last estimate amounts to less than Five Hundred Dollars ($500.00). The cost of materials conforming to the plans and specifications (materials being those which are required to be contained and incorporated in a finished contract bid item) delivered to the project and not at the time incorporated in the work, may also be included in the estimate for payment. No such estimate or payment shall be construed to be an acceptance of any defective work or improper material. The Contractor shall be responsible for, and shall not remove from the project any material that has been included in the estimate for payment. Final payment shall be made upon the Project Manager certifying that the Contractor has satisfactorily completed the work in conformity with the Contract Documents.

  • Payment for Working Overtime (a) For all work done outside ordinary hours, the rates of pay will be time and a half for the first two hours and double time thereafter. (b) Except as provided in clause 8.4, in computing overtime each day’s work will stand alone. (c) To avoid doubt, overtime provisions for shift workers are contained in clause 10.7.