Economic Life Clause Samples
The 'Economic Life' clause defines the expected useful period during which an asset, such as equipment or property, is anticipated to be economically viable and productive. This period is typically used to determine depreciation schedules, lease terms, or replacement planning, and may be specified in years or by another measurable standard. By clearly establishing the timeframe over which an asset is expected to generate value, the clause helps both parties align on financial planning and risk allocation related to the asset's longevity.
Economic Life. The information contained in the Tax Certificate and the Internal Revenue Service Form 8038, setting forth the respective cost, economic life, ADR midpoint life, if any, under Rev. Proc. 83-35, 1983-1 C.B. 745, as supplemented and amended from time to time, and guideline life, if any, under Rev. Proc. 62-21, 1962-2 C.B. 118, as supplemented and amended from time to time, of each asset constituting the 1985 Project which was financed with the proceeds of the Prior Bonds is true, accurate and complete.
Economic Life. 12 The economic life of a geothermal plant is assumed to be 30 years, limited by well field viability 13 and equipment life. 14 15 7.7.2.4 Hydropower 16 Reference Plant 17 Because of the diversity of remaining hydropower development opportunities, no single plant 18 configuration is representative. Cost and performance assumptions were based on the 19 characteristics of recently developed proposed hydropower plants in the Western Electricity 20 Coordinating Council (WECC). 21
Economic Life. 2 The economic life of a landfill gas energy recovery plant is assumed to be 20 years, limited by 3 the operating life of a reciprocating-engine generator and the productive life of a typical landfill. 4
Economic Life. 24 The economic life of a small hydropower plant is assumed to be 30 years, limited by major 25 equipment life. 26
Economic Life. 6 A new steam-electric plant can operate for 30 years or more. 7