Movables. Surface and subsurface drilling and production tools, equipment and instruments, barges, floating craft, automotive equipment, aircraft, construction equipment, furniture and office equipment and miscellaneous equipment.
Movables. Each six months after the date hereof, the Borrower shall provide to NIB an updated current list of all of the Borrower’s movable assets, tangible and intangible, including lists of Material Agreements in compliance with Section 4.1(e) of the Security Agreement Over Movables, and shall forthwith take any other steps and actions necessary or advisable to ensure that the Secured Parties have a first ranking security interest (subject only to Permitted Liens) in respect of all of the Borrower’s movable assets, tangible and intangible present and future, under the Security Agreement Over Movables in accordance with all requirements of Romanian law.
Movables. 10.1 It is recorded that the financial statements of the Lessee reflects that the Movables are the property of the Lessee. The Lessor denies that the Movables are the property of the Lessee. This means that the ownership of the Movables are in dispute and which dispute will be dealt with after the Commencement Date. The Lessor accordingly agrees that to the extent that it is the owner of the Movables, the Movables are let to the Lessee in terms of this Lease.
10.2 Movable goods acquired by the Lessee after the Commencement Date, but during the Lease Period, to replace any of the Movable Goods and the cost of which were funded by the Replacement Reserve, will become the property of the Lessor; and
10.3 Movable goods purchased by the Lessee by using funds other than funds that form part of the Replacement Reserve will be the sole property of the Lessee.
10.4 It is also recorded that the Fixtures and Fittings in the Section belongs to the Lessor and all repairs and maintenance will be done in accordance with clause 8 of Annexure A hereto.
Movables delivery of thing plus accessories & accessions in the condition in which they were upon the perfection of the contract including the fruits
a. LESS – buyer has 2 options:
i. reject
ii. accept
(1) when accepts with knowledge that seller is not going to perform contract in full, he must pay at price stipulated
(2) when accepts & consumes before knowledge that buyer will both perform contract in full, liable only for fair value of goods delivered
b. LARGER – buyer has 2 options;
i. accepts per contract & reject the rest
ii. accept the whole – pay price stipulated
iii. reject whole if subject matter is indivisible
c. MIXED WITH GOODS OF DIFFERENT DESCRIPTION – buyer has 2 options:
i. accepts good w/c are in accordance with contract & reject the rest
ii. reject goods entirely – if indivisible
Movables. (see the appendix “Identification of movables”) The joint tenants agree to identify in an appendix the movable property provided by each, in order to facilitate the subsequent division of the property. Unless otherwise stipulated in this agreement, a joint tenant who vacates the premises before the end of the lease shall remove their movable property and personal effects. Otherwise, the other joint tenant(s) may dispose of them as provided for by law.
Movables. 10.1 It is recorded that the Movables in the Section on the Commencement Date and during the Lease Period are the property of the Lessee and that the Lessor has no claim or right thereto.
10.2 The Lessee will on termination of the Lease remove the Movables from the Section and the Lessor will have no claim in respect thereof.
10.3 It is also recorded that the Fixtures and Fittings in the Section belongs to the Lessor and all repairs and maintenance will be done in accordance with clause 8 of Annexure A hereto.
Movables. All movables shall be removed from the Property by Seller prior to Closing Date with the exception of the following item(s) which shall remain with the Property:
Movables. If the Purchased Tracts include any of the Movable Tracts, this purchase includes the particular property included with the purchased Movable Tracts, as described in Exhibit A (“Movables”). If this purchase includes Movables combined with one or more of the Real Estate Tracts, Buyer shall acquire the Movables upon completion of the Closing in accordance with Section 6 below. If this purchase includes Movables without any of the Real Estate Tracts, Buyer shall acquire the Movables in accordance with Section 7 below.
Movables. Surface and subsurface drilling and production tools, equipment and instruments, barges, floating craft, automotive equipment, aircraft, construction equipment, furniture and office equipment and miscellaneous equipment.
3.1 Depreciation Depreciation will be calculated beginning the Calendar Year in which the asset is placed into service with a full Calendar Year's depreciation allowed the initial Calendar Year. The method used to calculate each Calendar Year's allowable recover), of Capital Costs is the declining balance depreciation method. Calculation of each such Calendar Year's allowable recovery of Capital Costs should be based on the individual asset's Capital Cost at the beginning of such year multiplied by the depreciation factor as follows, for: Group 1 = 50 % Group 2 = 25 % Group 3 = 10 % For the Groups of capital assets for any Crude Oil project, apply useful lives as follows: Automobiles 1.5 years Trucks-light (13,000 pounds or less) and tractor units 2 years Trucks-heavy (more than 13,000 pounds) and trailers 3 years Buses 4.5 years Aircraft 3 years Construction Equipment 3 years Furniture and Office Equipment 5 years Group -2 Construction utilities and auxiliaries 5 years Construction housing and welfare 10 years Production facilities 5 years Railroad cars and locomotives 7.5 years Vessels, barges, tugs, similar water transportation equipment 9 years Drilling and production tools, equipment and instruments 5 years For the Groups of capital assets for any Natural Gas projects, apply fifty percent (50%) of the following useful lives: Automobiles 3 years Trucks-light (13,000 pounds or less) and tractor units 4 years Trucks-heavy (more than 13,000 pounds) and trailers 6 years Group 2 Aircraft 6 years Vessels, barges, tugs, similar water transportation equipment 18 years Drilling and production tools, equipment and instruments 8 years Construction Equipment 6 years Furniture and Office Equipment 10 years Group 3 Construction utilities and auxiliaries 8 years Construction housing and welfare 20 years Production facilities 8 years Railroad cars and locomotives 15 years
Movables. The Property is sold with all fixtures of a permanent nature.
