Equipment definitions Clause Samples
The Equipment Definitions clause establishes clear and precise meanings for terms related to equipment used or referenced in the agreement. It typically lists and describes each piece of equipment, including model numbers, specifications, or unique identifiers, ensuring all parties understand exactly what is covered. By providing these definitions, the clause eliminates ambiguity and helps prevent disputes over what equipment is included or excluded under the contract.
Equipment definitions. Wherever the term equipment miscellaneous property is used, the following definitions shall apply:
Equipment definitions. Wherever the term equipment and/or miscellaneous property is used, the following definitions shall apply:
(1) Major equipment: A tangible or intangible item having a base unit cost of $5,000 or more with a life expectancy of one year or more and is either furnished by DHS or the cost is reimbursed through this agreement. Software and videos are examples of intangible items that meet this definition.
(2) Minor equipment: A tangible item having a base unit cost of less than $5,000 with a life expectancy of one (1) year or more that is listed on the DHS Asset Management Unit's Minor Equipment List and is either furnished by DHS or the cost is reimbursed through this agreement. Contractors may obtain a copy of the Minor Equipment List by making a request through the DHS program contract manager.
Equipment definitions. (a) Light Equipment
Equipment definitions. Wherever the term equipment and/or miscellaneous property are used, the following definitions shall apply:
(a) Major equipment: A tangible or intangible item having a base unit cost of $5,000 or more and greater than the Contractor’s or Subcontractor’s capitalization level with a life expectancy of one (1) year or more and is either furnished by the State or the cost is reimbursed through this agreement. Software and videos are examples of intangible items that meet this definition. Major equipment shall be recovered only through straight line depreciation over the class life of the property, as specified in the “Table of Class Lives and Recovery Periods” in federal IRS Publication 946, “How to Depreciate Property,” which is available from any office of the IRS.
(b) Minor equipment: A tangible item having a base unit cost of less than $5,000 and less than the Contractor’s or Subcontractor’s capitalization level, with a life expectancy of one (1) year or more, and is either furnished by the State or the cost is reimbursed through this Contract. Minor equipment may be reimbursed as allowable costs in the fiscal year incurred.
Equipment definitions. Wherever the term equipment /property is used, the following definitions shall apply:
(1) Major equipment/property: A tangible or intangible item having a base unit cost of $5,000 or more with a life expectancy of one (1) year or more and is either furnished by CDPH or the cost is reimbursed through this Agreement. Assets over $5000.00 will receive a numbered GREEN tag.
(2) Minor equipment/property: A tangible item having a base unit cost of less than receive a numbered BLUE tag. The parties hereby agree as follows:
Equipment definitions. Wherever the term equipment and/or miscellaneous property is used, the following definitions shall apply:
(a) Major equipment: A tangible or intangible item having a base unit cost of $5,000 or more with a life expectancy of one (1) year or more and is either furnished by ADP or the cost is reimbursed through this agreement. Software and videos are examples of intangible items that meet this definition.
(b) Minor equipment: A tangible item having a base unit cost of less than $5,000 with a life expectancy of one (1) year or more. and is either furnished by ADP or the cost is reimbursed through this agreement.
(c) Miscellaneous property: A specific tangible item with a life expectancy of one (Iy)ear or more that is either furnished by ADP or the cost is reimbursed through this agreement. Examples include, but are not limited to: furniture (excluding modular furniture), cabinets, typewriters, desktop calculators, portable dictators, non-digital cameras, etc.
Equipment definitions. Wherever the term equipment and/or miscellaneous property is used, the following definitions shall apply:
(a) Major equipment: A tangible or intangible item having a base unit cost of $5,000 or more and greater than the Contractor’s or Subcontractor’s capitalization level with a life expectancy of one (1) year or more and is either furnished by ADP or the cost is reimbursed through this agreement. Software and videos are examples of intangible items that meet this definition. Major equipment shall be recovered only through straight line depreciation over the class life of the property, as specified in the “Table of Class Lives and Recovery Periods” in federal IRS Publication 946, “How to Depreciate Property,” which is available from any office of the IRS.