Property, Equipment and Supplies. Unless otherwise approved by FRA, the following conditions apply to property, equipment, and supplies financed under this Agreement:
Property, Equipment and Supplies. 10.1. During the term of this Agreement, BVU shall, in accordance with Usual Utility Practice, applicable state law and the governmentally approved budget, purchase, acquire, lease or otherwise obtain, for MI’s system, such property, equipment and supplies as are necessary for BVU to perform its obligations under this Agreement. All existing property, equipment and supplies of MI’s System shall be used by BVU in performing its obligations under this Agreement, including facilities. All property, equipment and supplies acquired by BVU and paid for by MI shall be the property of MI during and after the term of this contract. The Parties agree that BVU will procure all such necessary property and equipment as an agent for MI and shall issue purchase orders for the same in MI’s name, clearly showing BVU as MI’s purchasing agent. In so doing, BVU will comply with all applicable North Carolina procurement law.
Property, Equipment and Supplies. The Contractor must comply with the property, equipment and supplies management standards and procedures in 2. C.F.R. sections 200.310 through 200.316, inclusive. The Contractor may use its own management standards so long as such standards comply with 49 C.F.R. sections 19.30 through 19.37, inclusive. 20 MAINTENANCE If any Project property, equipment, or supplies are not used for the Project for the duration of its useful life, as determined by the FRA, whether by planned withdrawal, misuse or casualty loss, the Contractor agrees to notify the Authority immediately. Disposition of withdrawn property, equipment, or supplies shall be in accordance with 2 C.F.R. sections 200.310 through 200.316 inclusive. 21 FLY AMERICA The Contractor agrees to comply with 49 U.S.C. section 40118 (the “Fly America” Act) in accordance with the General Services Administration’s regulations at 41 C.F.R. Part 301-10, which provide that recipients and sub-recipients of Federal funds and their contractors are required to use U.S. flag air carriers for U.S. Government-financed international air travel and transportation of their personal effects or property, to the extent such service is available, unless travel by foreign air carrier is a matter of necessity, as defined by the Fly America Act. If a foreign air carrier was used, the Contractor shall submit an appropriate certification or memorandum adequately explaining why service by a U.S. flag carrier was not available or why it was necessary to use a foreign air carrier, and shall, in any event, provide a certificate of compliance with the Fly America requirements. The Contractor agrees to include the requirements of this section in all subcontracts that may involve international air transportation.
Property, Equipment and Supplies. A. The Contractor agrees that Project property, equipment, and supplies shall be used for the Project activity for the duration of its useful life, as determined by the FRA. Should the Contractor unreasonably delay or fail to use Project property, equipment, or supplies during its useful life, the Contractor agrees that the FRA may require the Contractor to return the entire amount of FRA assistance expended on that property, equipment, or supplies. The Contractor further agrees to notify the Authority when any Project property or equipment is withdrawn from use in the Project activity or when such property or equipment is used in a manner substantially different from the representations made by the Contractor in its justification for purchase of the property or equipment.
Property, Equipment and Supplies. 3.1 During the term of this Agreement, ISC shall, in accordance with Usual Utility Practice and applicable state law, purchase, acquire, lease or otherwise obtain for the Electric System such property, equipment and supplies as are necessary for it to perform its obligations under this Agreement. Such material acquisitions shall be purchased with proceeds from the Town’s Materials Fund (as defined in Paragraph 4.2 of this Agreement). All existing property, equipment and supplies of the Town being used for operating and maintaining the Electric System as of the date of execution of this Agreement may be used by ISC in performing its obligations under this Agreement, and such property, equipment and supplies shall remain the property of the Town. All property, equipment and supplies built, installed or added into the Electric System by ISC shall be the property of the Town upon completion of such construction.
