Owned Equipment Sample Clauses
The Owned Equipment clause defines the rights and responsibilities related to equipment that is owned by one party and used in the course of performing a contract. Typically, this clause clarifies which party retains ownership of specific tools, machinery, or devices, and may outline requirements for maintenance, insurance, or return of the equipment at the end of the agreement. Its core function is to prevent disputes over ownership and ensure that both parties understand their obligations regarding the care and use of the owned equipment during and after the contractual relationship.
Owned Equipment. (Used directly on the Work and by the Subcontractor’s own forces). Daily rate is not to exceed 3% of the monthly rental rate as identified by a nationally recognized construction cost estimating guide or service.
Owned Equipment. All charges for certain heavy or specialized equipment owned by the Contractor or the Subcontractor performing the Work at up to 100 percent of the cost listed by the current edition of the Associated Equipment DealersDistributors’ AED Green Book heavy equipment rental rates and specifications for construction equipment. No recovery shall be allowed for hand tools, minor equipment, simple scaffolds, etc. The longest period of time that the equipment is to be required for the Work shall be the basis for the pricing. Downtime due to repairs, maintenance, and weather delays shall not be allowed.
Owned Equipment. Schedule 3.16(e) hereto sets forth a list of all material machinery, equipment, motor vehicles (other than inventory), furniture and fixtures owned by the Corporation (collectively, the "Owned Equipment").
Owned Equipment. Schedule 3.16(g) hereto sets forth a list of all material machinery, equipment, motor vehicles, furniture and fixtures owned by the Corporation (collectively, the "OWNED EQUIPMENT").
Owned Equipment. The Owned Equipment is in normal working condition, has been maintained in accordance with normal industry standards.
Owned Equipment. Schedule 4.6(a) sets forth a list of each piece of Equipment (other than any piece of Equipment which has a net book value of less than $10,000) that is owned by the Operating Company (the “Owned Equipment”). The Operating Company has good and marketable title to the Owned Equipment owned by it. As used in this Section 4.6(a), “good and marketable title” shall mean title which is free and clear of all Liens other than Permitted Liens. Jacob does not own any Equipment.
Owned Equipment. Any cost or credit arising from a change in the quantity of heavy or specialized equipment owned by the CM or Subcontractor performing the Work shall be based on the cost listed by the current edition of the Associated Equipment Distributors’ AED Green Book heavy equipment rental rates, but shall not exceed 100 percent of that documented cost. No recovery shall be allowed for hand tools, minor equipment, simple scaffolds, etc. The longest period of time that the equipment is to be required for the Work shall be the basis for the pricing. Downtime due to repairs, maintenance, and weather delays shall not be allowed.
Owned Equipment. We understand that the third party will retain ownership and support of all equipment placed on the campus of Union County Schools; however, if removing or changing the equipment is required for any reason, the third party will notify Union County School’s agreement contacts 30 days in advance of the change out unless the replacement is in direct result of a downtime situation. In that case this requirement will be waived.
Owned Equipment. In the case of Equipment owned by CSC or its Affiliates purchased by Sears, CSC shall grant to the Eligible Recipients a warranty of title and a warranty that such Equipment is free and clear of all liens and encumbrances. Such conveyance by CSC to the Sears shall be at the then-current net book value as stated in CSC’s or its Affiliates accounting records; provided, however, that for such purpose net book value shall be calculated in accordance with generally accepted accounting principles, using the depreciation methods used by CSC in preparing its federal income tax returns.
Owned Equipment for certain owned heavy or specialized equipment (defined as tools and equipment with an individual purchase cost of more than Ten Thousand Dollars ($10,000)) brought on to the job site specifically for change order work shall be valued at 75 percent of the monthly rental divided by 176 to arrive at a maximum hourly rate to be applied to the hours the equipment is used performing the change order work. Fuel and an operator necessary to utilize the equipment will be considered as a separate direct cost associated with the change order work. No recovery will be allowed for heavy or specialized equipment that is already on the jobsite and is necessary to complete work of the original contract. No recovery will be allowed for hand tools, power tools, minor equipment, work vehicles (including pickup trucks and cargo vans), simple scaffolds, etc. The longest period of time that the equipment is to be required for the work will be the basis for pricing. Downtime due to repairs, maintenance and weather delays will not be allowed.