Nonexpendable Property and Capital Assets. 1. Nonexpendable Property is property which has a continuing use, is not consumed in use, is of a durable nature with an expected service life of one or more years, has an acquisition cost of $5,000 (Five Thousand Dollars) or more, and does not become a fixture or lose its identity as a component of other equipment or systems. 2. A Capital Asset is any personal or real property, or fixture that has an acquisition cost of $5,000 (Five Thousand Dollars) or more per unit and a useful life of more than one year.
Appears in 4 contracts
Samples: Subrecipient Agreement, Subrecipient Agreement, Subrecipient Agreement
Nonexpendable Property and Capital Assets. 1. Nonexpendable Property is property which has a continuing use, is not consumed in use, is of a durable nature with an expected service life of one or more years, has an acquisition cost of $5,000 300 (Five Thousand Three Hundred Dollars) or more, and does not become a fixture or lose its identity as a component of other equipment or systems.
2. A Capital Asset is any personal or real property, or fixture that has an acquisition cost of $5,000 (Five Thousand Dollars) or more per unit and a useful life of more than one year.
Appears in 2 contracts
Samples: Subgrantee Agreement, Subgrantee Agreement
