Property and Equipment. All property and equipment purchased by CONTRACTOR with funds received under this Agreement, or purchased on behalf of CONTRACTOR for the program site(s) covered under this Agreement, shall be insured by CONTRACTOR at replacement value against fire, theft, and destruction equal to the full replacement cost.
Property and Equipment. The buildings, plants, structures located at the Plant Property and the Equipment are all owned by the CCC Company free and clear of all Liens (except Permitted Liens) and are structurally sound, are in good operating condition and repair, subject to normal wear and tear, and are adequate for the uses to which they are being put, and none of such buildings, plants, structures, personal property or Equipment is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost.
Property and Equipment. (a) Section 3.9 of the Disclosure Schedule lists the fixed assets, including equipment, used in the Business as currently conducted which are owned by Company and those which are leased by Company ("Leased Property"). Section 3.9 of the Disclosure Schedule contains a correct and complete copy of the agreements for the lease of fixed assets not owned by Company. The fixed assets and the Leased Property are generally in good operating condition and repair, reasonable wear and tear excepted.
Property and Equipment. (a) The Company and the Subsidiaries have good and marketable title to, or in the case of leased property have valid leasehold interests in, all personal property and assets (whether real or personal, tangible or intangible) reflected on the Balance Sheet or acquired after the Balance Sheet Date, except for properties and assets sold since the Balance Sheet Date in the ordinary course of business consistent with past practices. None of such properties or assets is subject to any Liens, except:
Property and Equipment. Property and equipment are stated at cost, except when an impairment analysis requires use of fair value, and depreciated using the straight-line method over the estimated useful lives of the assets as follows: Computer equipment 3 to 4 years Furniture and fixtures 5 to 7 years Software 2 to 3 years Building Improvements 10 years Building 39 years Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the lease term. When assets are retired or otherwise disposed of, the cost and accumulated depreciation and amortization are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in operating expenses. Maintenance and repairs are charged to expense as incurred. Expenditures that substantially increase an asset’s useful life are capitalized. In the fourth quarter of 2013, the Company acquired an approximately 10,000 square foot Data Center facility in Phoenix, Arizona. This facility has allowed the Company to consolidate its data needs in a company-owned Data Center, and should allow for the expansion of its cloud-based offerings to its customers.
Property and Equipment. Property and equipment consisted of the following at December 31, 2014 and 2013 (in thousands): December 31, 2014 December 31, 2013 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value Computer equipment $ 1,108 $ (602 ) $ 506 $ 490 $ (244 ) $ 246 Furniture and fixtures 22 (4 ) 18 21 (1 ) 20 Software 2,733 (1,137 ) 1,596 2,962 (246 ) 2,716 Building and Leasehold improvements 541 (36 ) 505 59 (4 ) 55 Land and Buildings 797 (19 ) 778 797 (3 ) 794 Total $ 5,201 $ (1,798 ) $ 3,403 $ 4,329 $ (498 ) $ 3,831 Depreciation expense on property and equipment for the years ended December 31, 2014 and 2013, including cost of property and equipment under capital lease, was $1.4 million and $0.5 million, respectively, and is recorded in operating expenses. Equipment under capital lease totaled $0.16 million as of December 31, 2014. There was no equipment under capital lease at December 31, 2013. Depreciation expense on equipment under capital lease was $0.04 million for the year ended December 31, 2014, and accumulated depreciation on equipment under capital lease was $0.04 million as of December 31, 2014.
Property and Equipment. Property and equipment purchased with these funds shall be titled to Recipient, and Recipient shall be responsible for the custody and care of any property and equipment purchased with funds furnished for use in connection with this MOA. Grantor will not be held responsible for any property purchased under this MOA. Recipient must obtain any necessary insurance where said insurance can be reasonably obtain and provide proof of insurance as part of any Reimbursement Request or Closeout. Recipient must utilize all property and equipment as intended in their project application to Grantor. Failure to comply with these terms and conditions may result in the return of funds and any other remedy for noncompliance specified paragraph 7, Compliance, above.
Property and Equipment. 11.13. The ACT is prohibited from operating the equipment and technical facilities of the Venue without the consent of HAPPY HEART.
Property and Equipment. The property and equipment as shown on its most recent consolidated balance sheet are in good operating condition and in a state of good maintenance and repair. The use of its real property conforms in all material respects with applicable ordinances, regulations, zoning, or building codes, and other applicable laws.
Property and Equipment. A detail of property and equipment is as follows: 31/12/2020 31/12/2019 Cost US$ 16,922 14,031 Accumulated depreciation (8,106) (6,527) Total US$ 8,816 7,503 Classific ation: Land US$ 47 47 Other assets 480 702 Vehicles 1,592 2,021 Machinery and equipment 1,003 546 Furniture and fixtures 681 485 Computer equipment 1,117 263 Right- of- use asset 425 445 Equipment in transit 3,471 2,994 Total US$ 8,816 7,503 Movements in property and equipment, net, were as follows: Land and Other assets Vehicles Machinery and equipment Furniture and fixtures Computer equipment Equipment in transit Right of- use assets (1) Total Net balance at December 31, 2018 (Audited) US$ 970 2,484 266 422 35 974 - 5,151 Additions - - - - - 3,130 - 3,130 Adoption IFRS 16 (1) - - - - - - 669 669 Transfers - - 398 237 260 (895) - - Write - offs - - - (102) - - - (102) Depreciation write off - - - - - - - - intangible assets - - - - - (215) - (215) Depreciaction expense (221) (463) (118) (72) (32) - (224) (1,130) Net balance at December 31, 2019 749 2,021 546 485 263 2,994 445 7,503 Additions (2) - - - - - 2,832 274 3,106 Transfers - - 688 296 1,160 (2,144) - - Write - offs - - - - - - (1) (1) intangible assets - - - - - (211) - (211) Depreciaction expense (222) (429) (231) (100) (306) - (293) (1,581) Net balance at December 31, 2020 US$ 527 1,592 1,003 681 1,117 3,471 425 8,816 Reclassification to Reclassification to
