Common use of Capital Equipment Clause in Contracts

Capital Equipment. 10.1 Any Capital Equipment acquired with the Grant for the purposes of the Project will become Your property at the completion of the Grant Period. However, You will be fully responsible for, and bear all risks relating to, the use or disposal of all Capital Equipment from the date of acquisition or creation of such Capital Equipment. 10.2 You must not acquire any Capital Equipment with the Grant unless the Capital Equipment is specified in the Grant Proposal or the Department has provided You with prior written consent to acquiring that Capital Equipment. 10.3 You must for the term of this Agreement not sell, restrict, cease to use or otherwise dispose of any Capital Equipment acquired with the Grant without first obtaining written consent from the Department. 10.4 You must maintain an Asset Register for each item of Capital Equipment purchased or created using the Grant which is, at least, valued at $100,000 GST inclusive. The Asset Register is to record all items of Capital Equipment and be kept current at all times in accordance with Australian Accounting Standards.

Capital Equipment. ‌ 10.1 Any Capital Equipment acquired with the Grant for the purposes of the Project will become Your property at the completion of the Grant Period. However, You will be fully responsible for, and bear all risks relating to, the use or disposal of all Capital Equipment from the date of acquisition or creation of such Capital Equipment. 10.2 You must not acquire any Capital Equipment with the Grant unless the Capital Equipment is specified in the Grant Proposal or the Department has provided You with prior written consent to acquiring that Capital Equipment. 10.3 You must for the term of this Agreement not sell, restrict, cease to use or otherwise dispose of any Capital Equipment acquired with the Grant without first obtaining written consent from the Department. 10.4 You must maintain an Asset Register for each item of Capital Equipment purchased or created using the Grant which is, at least, valued at $100,000 GST inclusive. The Asset Register is to record all items of Capital Equipment and be kept current at all times in accordance with Australian Accounting Standards.

Capital Equipment. ‌ 10.1 Any Capital Equipment acquired with the Grant for the purposes of the Project will become Your your property at the completion of the Grant Period. However, You you will be fully responsible for, and bear all risks relating to, the use or disposal of all Capital Equipment from the date of acquisition or creation of such Capital Equipment. 10.2 You must not acquire any Capital Equipment with the Grant unless the Capital Equipment is specified in the Grant Proposal or the Department has provided You you with prior written consent to acquiring that Capital Equipment. 10.3 You must for the term of this Agreement not sell, restrict, cease to use or otherwise dispose of any Capital Equipment acquired with the Grant without first obtaining written consent from the Department. 10.4 You must maintain an Asset Register for each item of Capital Equipment purchased or created using the Grant which is, at least, valued at $100,000 GST inclusive. The Asset Register is to record all items of Capital Equipment and be kept current at all times in accordance with Australian Accounting Standards.