Unfunded Capital Expenditures Sample Clauses
The Unfunded Capital Expenditures clause defines how costs for capital improvements or replacements that are not covered by reserve funds or other designated sources are handled. Typically, this clause outlines the process for identifying, approving, and allocating responsibility for such expenditures, often specifying whether the landlord or tenant must pay for these costs and under what circumstances. Its core function is to clarify financial responsibility for significant property investments that arise unexpectedly, thereby preventing disputes and ensuring both parties understand their obligations regarding major, unbudgeted expenses.
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Unfunded Capital Expenditures. Make any Unfunded Capital Expenditures, except that the Borrowers may make aggregate Unfunded Capital Expenditures in each Fiscal Year during the term hereof in an amount not to exceed, (a) $60,000,000 less (b) the sum of (i) all payments made or scheduled to be made by any Borrower during such Fiscal Year on or with respect to Purchase Money Indebtedness, Operating Lease Obligations and (without duplication) Indebtedness for Money Borrowed which, in each case, was incurred by a Borrower prior to the commencement of such Fiscal Year, and (ii) the aggregate amount of all Purchase Money Indebtedness and Operating Lease Obligations incurred by any of the Borrowers during such Fiscal Year.
Unfunded Capital Expenditures. Contract for, purchase or make any expenditure or commitments for Unfunded Capital Expenditures in an aggregate amount for all Borrowers not to exceed $3,000,000 in any fiscal year; provided, however, in the event Capital Expenditures during any fiscal year are less than the amount permitted for such fiscal year, then the unused amount (the “Carryover Amount”) may be carried over and used in the immediately succeeding fiscal year; provided, further, that any Carryover Amount shall be deemed to be the last amount spent in such succeeding fiscal year.
Unfunded Capital Expenditures. Not have Capital Expenditures (to be tested as of any day), on a consolidated basis with respect to Borrower and its Subsidiaries, in excess of (i) Thirty Million Dollars ($30,000,000.00) for Borrower’s fiscal year ending December 31, 2015, and (ii) Twenty Five Million Dollars ($25,000,000.00) per fiscal year for each fiscal year thereafter through and including September 30, 2016; provided, however, that any Permitted Indebtedness incurred in excess of Ten Million Dollars ($10,000,000.00) under subsection (e) of the definition of Permitted Indebtedness shall reduce the amount of Capital Expenditures permitted during the year such Indebtedness is incurred on a dollar for dollar basis.
Unfunded Capital Expenditures. The Borrower shall not incur Unfunded Capital Expenditures in excess of $5,500,000 during the fiscal year ending December 31, 1998.
Unfunded Capital Expenditures. During the Fiscal Year of the Borrower ending on September 30, 2011, Borrower shall not incur Unfunded Capital Expenditures in excess of $2,000,000.00 in the aggregate (tested as of the last day of each fiscal quarter of such Fiscal Year on a year-to-date basis). During each Fiscal Year of the Borrower ending after September 30, 2011, Borrower shall not incur Unfunded Capital Expenditures in excess of $1,700,000.00 in the aggregate (tested as of the last day of each fiscal quarter ended after September 30, 2011 on a year-to-date basis).
Unfunded Capital Expenditures. Make Unfunded Capital Expenditures which, in the aggregate, as to Borrower and its Subsidiaries, exceed $1,500,000 during any fiscal year of Borrower, provided, however, that if during the period from the Effective Date to June 30, 2005 Unfunded Capital Expenditures exceeds $1,500,000, the excess may be offset by the Equity Injection during such period.
Unfunded Capital Expenditures. Section 7.6 of the Loan Agreement shall be amended and restated in its entirety as follows: 7.6
Unfunded Capital Expenditures. Section 7.6 of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
Unfunded Capital Expenditures. Borrower shall not make or otherwise incur Unfunded Capital Expenditures in excess of $375,000 for the period commencing October 2, 1999 and ending January 1, 2000. For purposes of this section, "Unfunded Capital Expenditures" means amounts paid or indebtedness incurred by Borrower or any of its subsidiaries in connection with the purchase or lease by the Borrower or any of its subsidiaries of Capital Assets that would be required to be capitalized and shown on Borrower's or its subsidiaries balance sheet in accordance with GAAP and which amounts paid or indebtedness incurred is not funded by any of the Loans (excluding the Revolving Loan). For purposes of this section, "Capital Assets" means fixed assets, both tangible (such as land, buildings, fixtures, machinery and equipment) and intangible (such as patents, copyrights,
Unfunded Capital Expenditures. The Definitions Schedule to the Loan Agreement is hereby amended by the addition of a new definition “Unfunded Capital Expenditures” in the appropriate alphabetical order to read as follows: