Capital Asset Clause Samples

The 'Capital Asset' clause defines what constitutes a capital asset within the context of the agreement. Typically, this clause specifies that capital assets are significant, long-term items such as property, equipment, or investments that are expected to provide value over multiple years. It may outline criteria like minimum value thresholds or expected useful life to distinguish capital assets from regular inventory or consumables. The core function of this clause is to ensure clarity in financial reporting and asset management by clearly identifying which assets are subject to special accounting or contractual treatment.
Capital Asset. The term ‘‘capital asset’’ includes equipment, rolling stock, in- frastructure, and facilities for use in public transportation and owned or leased by a recip- ient or subrecipient of Federal financial as- sistance under this chapter.
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Capital Asset. If the Project includes the purchase of a capital asset, Grantee may not sell, transfer, or otherwise dispose of any capital asset paid for with Grant Funds for a period of five (5) years after the Effective Date of this Grant without prior written consent of the Agency.
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Capital Asset. Replacement Work under Audit Inspections Maintenance Contractor shall diligently perform and complete all Capital (a) Prior to the expiration of the Maintenance Term, as extended by the issuance of Maintenance NTP2 or Maintenance NTP3, as applicable; or (b) If the CMA is terminated for any reason prior to the expiration of the Maintenance Term, within 90 days after the effective date of termination. If Maintenance Contractor, despite diligent efforts, is unable to complete such Capital Asset Replacement Work prior to such period or TxDOT elects, at its sole discretion, to perform such Capital Assert Replacement Work, then in lieu of Maintenance Contractor’s completion of such Capital Asset Replacement Work, Maintenance Contractor shall reimburse TxDOT, within ten days of delivery of an invoice therefor, for TxDOT’s Recoverable Costs of completing such Capital Asset Replacement Work. In lieu of reimbursement, TxDOT may elect, in its sole discretion, to deduct such amounts from any amounts payable to Maintenance Contractor under this CMA.
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Capital Asset. Replacement Work under Audit Inspections Maintenance Contractor shall diligently perform and complete all Capital Asset Replacement Work required to be performed and completed based on the required adjustments and changes to the Capital Asset Replacement Work Submittal resulting from the Audit Inspections. Maintenance Contractor shall complete all such Capital Asset Replacement Work: (a) Prior to the expiration of the Maintenance Term, as extended by the issuance of Maintenance NTP2 or Maintenance NTP3, as applicable; or (b) If the Capital Maintenance Agreement is terminated for any reason prior to the expiration of the Maintenance Term, within 90 days after the effective date of termination. If Maintenance Contractor, despite diligent efforts, is unable to complete such Capital Asset Replacement Work prior to such period or TxDOT elects, at its sole discretion, to perform such Capital Assert Replacement Work, then in lieu of Maintenance Contractor’s completion of such Capital Asset Replacement Work, Maintenance Contractor shall reimburse TxDOT, within ten days of delivery of an invoice therefor, for TxDOT’s Recoverable Costs of completing such Capital Asset Replacement Work. In lieu of reimbursement, TxDOT may elect, in its sole discretion, to deduct such amounts from any amounts payable to Maintenance Contractor under this Capital Maintenance Agreement.
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Related to Capital Asset

  • INCOME FROM IMMOVABLE PROPERTY 1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. The term "immovable property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to immovable property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources; ships, boats and aircraft shall not be regarded as immovable property. 3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of immovable property. 4. The provisions of paragraphs 1 and 3 shall also apply to the income from immovable property of an enterprise and to income from immovable property used for the performance of independent personal services.

  • Total Assets Based on total assets at period end. Used primarily to allocate costs associated with the oversight and safeguarding of corporate assets. This would include services provided by financial management and certain finance functions, among others. Also used when the services provided are driven by the relative size and complexity of the System Companies and there is no functional relationship between the services and any other available allocation formula. Based on the number of bank accounts at period end. Used for the allocation of costs associated with daily cash management activities.

  • Lease Obligations Manager shall perform all duties of the landlord under all Leases insofar as such duties relate to operation, maintenance, and day-to-day management. Manager shall also provide or cause to be provided, at Owner’s expense, all services normally provided to tenants of like premises, including where applicable and without limitation, gas, electricity or other utilities required to be furnished to tenants under Leases, normal repairs and maintenance, and cleaning, and janitorial service. Manager shall arrange for and supervise the performance of all installations and improvements in space leased to any tenant that are either expressly required under the terms of the lease of such space or that are customarily provided to tenants.

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Capital Equipment Collaborator’s commitment, if any, to provide ICD with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to ICD the capital equipment or provides funds for ICD to purchase it, then ICD will own the equipment. If Collaborator loans capital equipment to ICD for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and ICD will not be liable for any damage to the equipment.