Replacement of Vehicle. Fleet Management will determine when a PA Purchased Vehicle has reached the end of its life cycle and should be replaced with a new motor vehicle. The annual Vehicle Replacement funds attributable to a PA Purchased Vehicle will be based on the actual cost of the motor vehicle plus an annual inflation factor divided by the preliminary life cycle years attributed to the vehicle.
Replacement of Vehicle. Fleet Management will determine when a SOE Purchased Vehicle has reached the end of its life cycle and should be replaced with a new motor vehicle. The annual Vehicle Replacement funds attributable to an SOE Purchased Vehicle will be based on the actual cost of the motor vehicle plus an annual inflation factor divided by the preliminary life cycle years attributed to the vehicle.
Replacement of Vehicle. 6.1 Where serious mechanical failures occur due to wear and tear and which cannot be repaired timeously a replacement vehicle will be supplied within specified hours of diagnosis (See Below).
Replacement of Vehicle. The Lender may at its option elect to expend such money towards repairing, reinstating or replacing the security and in such event that repaired, replaced or reinstated security shall be deemed to be the security which is secured herein and all the provisions of this Contract shall apply as if that security had been the security described herein at the date of execution of this Contract, or the Lender may elect to have such money paid in discharge or partial discharge of the balance then owing under this Contract notwithstanding that the time for payment of the amount may not have arrived.
