Asset Management Plan Sample Clauses
Asset Management Plan. The Recipient will develop and implement an Asset Management Plan prior to December 31, 2016.
Asset Management Plan. The transit asset management plan prepared in accordance with 49 U.S.C. §5326 and certified by the department. The plan includes, at a minimum, capital asset inventories and condition assessments, decision support tools, and investment prioritization.
Asset Management Plan. The Contractor shall refer to the Federal Transit Administration’s (FTA) Final Rules, 49 CFR Parts 625 and 630. The Contractor shall provide a narrative of how it plans to collect and record asset data and must provide a sample data collection format in a spreadsheet (such as Microsoft Excel) to the Project Manager within three (3) months of the Notice to Proceed. This information shall be reviewed and approved by the Project Manager; such review by the Project Manager is for content only and not for accuracy, and the format by which the Contractor shall provide all asset data for the Project. The Project Manager will provide the Contractor the starting asset number; the Contractor shall utilize the same number format and apply number tags to assets in sequential order. The Contractor shall ensure all number tags are of durable plastic material and shall have the number as well as bar code to the tag number. A sample tag is shown below: NJ TRANSIT ASSET No. xxxxxxxxx [Bar Code] The Contractor shall provide asset data as described; all maintainable assets shall be grouped in the following Asset Class with parent/child relationship:
i. Facilities
ii. Infrastructure Systems
iii. Revenue Rolling Stock
Asset Management Plan. The Florida Administrative Code (F.A.C.) requires recipients of Construction Grants for Small Community Wastewater Facilities to develop and implement an Asset Management Plan. Grants under chapter 62-505.300(1)(d), F.A.C.: Are available at the construction phase of a Project only if the Local Government adopts and implements, prior to the final disbursement of the associated State Revolving Fund construction loan, an Asset Management Plan that meets all requirements of subsection 62-503.700(7), F.A.C. The Asset Management Plan shall include, at a minimum, the following elements: i) an inventory of all the assets within the Local Government’s system; ii) an evaluation of the current age, condition, and anticipated useful life of each asset; iii) the current value of the assets; iv) the cost to operate and maintain all assets; v) a capital improvement plan based on a survey of industry standards, life expectancy, life cycle analysis, and remaining useful life; vi) an analysis of funding needs; vii) an analysis of population growth and wastewater or stormwater flow projections, as applicable, for the sponsor’s planning area, and a model, if applicable, for impact fees; commercial, industrial and residential rate structures; industrial pretreatment fees and parameters; viii) the establishment of an adequate funding rate structure; ix) a threshold rate set to ensure the proper operation of the utility (if the sponsor transfers any of the utility proceeds to other funds, the rates must be set higher than the threshold rate to facilitate the transfer and proper operation of the utility); and x) a plan to preserve the assets, as well as the renewal, replacement, and repair of the assets as necessary (such plan should incorporate a risk-benefit analysis to determine the optimum renewal or replacement time). In order to retain the rate reduction included in this Loan, the implementation of the plan must be verified at least three months prior to the date of the first loan repayment scheduled in Article X.
Asset Management Plan. Subsection 62-552.700(7), Florida Administrative Code encourages Project Sponsors to implement an Asset Management Plan to promote long term sustainability of the Water System. To be eligible for a 0.10% Financing Rate reduction, an Asset Management Plan must be adopted by ordinance or resolution and written procedures must be in place to implement the plan. The plan must include each of the following elements: i) identification of all assets within the Project Sponsor’s system; ii) an evaluation of the current age, condition, and anticipated useful life of each asset; iii) the current value of the assets; iv) the cost to operate and maintain all assets; v) a capital improvement plan based on a survey of industry standards, life expectancy, life cycle analysis, and remaining useful life; vi) an analysis of funding needs; vii) an analysis of population growth and drinking water use projections, as applicable, for the sponsor’s planning area, and a model, if applicable, for impact fees; commercial, industrial and residential rate structures; viii) the establishment of an adequate funding rate structure; ix) a threshold rate set to ensure the proper operation of the utility (if the sponsor transfers any of the utility proceeds to other funds, the rates must be set higher than the threshold rate to facilitate the transfer and proper operation of the utility); and x) a plan to preserve the assets, renewal, replacement, and repair of the assets as necessary and a risk-benefit analysis to determine the optimum renewal or replacement time. Failure to adopt and implement such plan prior to three months before the date of the first loan repayment will increase the Financing Rate by 0.10%. The maximum Principal Forgiveness percentage for the Asset Management Plan is limited to 50% of invoiced costs.
Asset Management Plan. The first paragraph of section 5.10 (Asset Management Plan) of Schedule 2 is deleted in its entirety and is replaced with the following: The Operator shall develop an Asset Management Plan as required by the New Jersey Water Quality Accountability Act to support the long-term sustainability of the Water Supply System and the Sewer Collection System by helping the City make informed decisions on when it is most appropriate to repair, replace, or rehabilitate particular assets and by developing a long-term funding strategy.
Asset Management Plan. 8.1 Asset management plan to include: An asset management plan (“Asset Management Plan”) is prepared and published in accordance with Clause 7 of the Electricity Information Disclosure Requirements 2008.
Asset Management Plan. The Asset Management Plan shall include, at a minimum: • the inventory of assets, including description, location, cost, age, and current condition; • estimated Useful Life and projected Residual Life by asset; • criteria for determining whether rehabilitation, overhaul, or replacement will be used such that the asset meets the operational, performance, and life-remaining requirements of the asset; • specific details identifying which assets will be replaced requiring a Planned Service Interruption in the upcoming 12 months; • planned preventative maintenance of the asset over its lifecycle consistent with the approved Maintenance Plans; • planned Renewal Work, including refurbishment, major rehabilitation, overhaul, or replacement of the assets throughout the O&M Period; • process to recover asset condition as result of an accident; • projected rehabilitation, overhaul and replacement costs and anticipated replacement timing for each asset; • process for assessing and reporting on risk associated with asset failure, likelihood of occurrence, and magnitude of impact; • identification of those assets which are critical to Project performance; • method and procedures for determining condition and Residual Life of asset; • policy for asset preservation including implementation of preventative maintenance program; • estimated cost in current Fiscal Year dollars of asset management work for each year of the O&M Period; • summary of major asset rehabilitation, overhaul, and replacement completed in each previous fiscal year; and • method for recording condition, performance, and history for each asset in inventory (manual or software based). The Asset Management Plan shall include a description of the organization responsible for asset preservation and the organizational relationship to Concessionaire’s senior management. Concessionaire shall submit the Asset Management Plan for Review and Approval according to the following schedule: • a minimum of 12 months before the scheduled start of Trial Running; • at the start of Trial Running; and • annually on every anniversary of the start of Trial Running.
Asset Management Plan. Within 90 days before the beginning of the first full calendar year of the O&M Period, Developer shall prepare and submit to LAWA for review and approval an Asset Management Plan prepared in accordance with Part 2A, Section 10.1.1 (Asset Management Plan) of the Technical Provisions. No later than 90 days before the beginning of each subsequent calendar year, Developer shall update the Asset Management Plan and submit the updated plan together with Xxxxxxxxx’s proposed budget for Renewal Work to LAWA.
Asset Management Plan. The Concession Company shall provide the Authority a draft asset management plan (the “Asset Management Plan”) no later than two (2) months following the Closing Date. The Asset Management Plan shall be consistent with the terms and provisions of this Agreement, contain a detailed description of the means and methods of properly maintaining, repairing and replacing the Cruise Port Facility, and shall otherwise document procedures, practices and schedules set forth in Schedule 12. The Concession Company shall review and discuss in good faith with the Authority any aspect of the draft Asset Management Plan and will provide the Authority a final Asset Management Plan no later than four (4) months following the Closing Date. Neither the review of or comment upon, nor the failure of the Authority to comment upon, the Asset Management Plan shall relieve the Concession Company of any of its responsibilities under this Agreement, be deemed to constitute a representation by the Authority that maintaining, repairing and replacing the Cruise Port Facility pursuant to the Asset Management Plan will cause the Cruise Port Facility to be in compliance with this Agreement or applicable Law, or impose any liability upon the Authority. The Concession Company shall bear all costs and expenses of preparing the Asset Management Plan. The Concession Company shall update the Asset Management Plan to take into account the following: (i) each Cruise Pier Improvement Project, in each case after its Completion;