Capital Replacements

Capital Replacements. Means capital improvements to the Hotel, determined in accordance with GAAP, to (A) the external walls and internal load-bearing walls (other than windows and plate glass) of the Hotel; (B) the roof of the Hotel; (C) private roadways, parking areas, sidewalks and curbs appurtenant thereto (other than cleaning, patching and striping); (D) mechanical, electrical and plumbing systems that service common areas, entire wings of the Hotel or the entire Hotel, including ... conduit and ductware connected thereto; and (E) items of the types contained on Schedule IV. View More

Capital Replacements. Means the furnishings and equipment and other items, the cost of which for accounting purposes may not be expensed but must be capitalized over a useful life of greater than one year according to generally acceptable accounting principles.