School Furniture, Fixtures, Equipment, and Funds Sample Clauses

School Furniture, Fixtures, Equipment, and Funds. Any property and improvements, furnishings, and equipment purchased with public funds shall automatically revert to full ownership by the Sponsor, subject to complete satisfaction of any lawful liens or encumbrances. If the School’s accounting records fail to clearly establish whether a particular asset was purchased with public funds or non-public funds, then it shall be presumed public funds were used and ownership of the assets shall automatically revert to the Sponsor. Property and assets purchased with public funds shall be defined as those goods purchased with grants and funds provided by a governmental entity. Funds provided by the School and used by the management company to purchase property and assets for the School are considered public funds.
AutoNDA by SimpleDocs
School Furniture, Fixtures, Equipment, and Funds. In the event the School 7 ceases operation or is dissolved, or this Charter is not renewed or is otherwise 8 terminated, any public unencumbered funds of the School shall revert to the 9 Sponsor, except for capital outlay funds. Capital outlay funds shall revert to the 10 FDOE. Any property, improvements, furnishings, and equipment purchased by, or 11 on behalf of, the School with public funds shall be delivered to the Sponsor and 12 automatically revert to full ownership by the Sponsor, regardless whether they 13 were purchased by the School or by a management company for the School. The 14 School shall not enter into any contract that would interfere with the right of the 15 Sponsor to assert title on its own behalf or on behalf of the State of Florida in the 16 event of termination of the Charter for any reason. The financial and auditing 17 personnel and staff of the Sponsor and the School shall cooperate in and 18 coordinate the proper identification and sources of funding for the property and 19 improvement, furnishings and equipment purchased for the School, and the 20 appropriate record keeping of same, during the term hereof or any extensions of 21 the Charter. The School shall keep a detailed inventory of all assets purchased 22 wholly with, or in part with, public funds in accordance with this Charter. If the 23 School’s accounting records fail to clearly establish whether a particular asset was 24 purchased with public funds or non­public funds, ownership of the asset will 25 automatically revert to the Sponsor. Property and assets purchased with public 26 funds shall be defined as those goods purchased with grants and funds provided 27 by a governmental entity. Funds provided by the School and used by a 28 management company to purchase property and assets for the School are 29 considered public funds.

Related to School Furniture, Fixtures, Equipment, and Funds

  • Furniture, Fixtures and Equipment Sublessee shall have the right to use during the Term the office furnishings and equipment within the Subleased Premises that are identified on Exhibit C attached hereto, as such exhibit may be adjusted by mutual agreement of the parties prior to the Third Floor Premises Delivery Date (the “Furniture”), provided Sublessee may only use the Furniture located in the Second Floor Premises after the Second Floor Commencement Date. The Furniture is provided in its “AS IS, WHERE IS” condition, without representation or warranty whatsoever. Sublessee shall insure the Furniture under the property insurance policy required under the Master Lease, as incorporated herein, and pay all taxes with respect to the Furniture. Sublessee shall maintain the Furniture in good condition and repair, reasonable wear and tear excepted, and shall be responsible for any loss or damage to the same occurring during the Term. Sublessee shall surrender the Furniture to Sublessor upon the termination of this Sublease in the same condition as exists as of the applicable Delivery Date, reasonable wear and tear excepted. Sublessee shall not remove any of the Furniture from the Subleased Premises. Notwithstanding anything to the contrary herein, Sublessee may provide Sublessor with written notice one (1) time not less than forty-five (45) days prior to the Third Floor Premises Delivery Date that lists any items of Furniture that Sublessee does not want to use and Sublessor shall, at no cost to Sublessee, remove such items from the Subleased Premises prior to the Third Floor Premises Delivery Date and such items shall no longer be considered Furniture hereunder. Notwithstanding the foregoing, provided Sublessee is not in default beyond the expiration of any applicable cure or grace period as of the date of the expiration or earlier termination of this Sublease, which condition may be waived by Sublessor in its sole discretion, then upon the expiration or earlier termination of this Sublease, the Furniture shall become the property of Sublessee, and Sublessee shall accept the same in its “AS IS, WHERE IS” condition, without representation or warranty whatsoever except as provided in the Bill of Sale referred to in the following sentence. In the event the Furniture is to become the property of Sublessee upon the expiration or earlier termination of this Sublease pursuant to the terms of the immediately preceding sentence, then Sublessor agrees to execute and deliver to Sublessee a Bill of Sale in the form of Exhibit D attached hereto conveying and transferring to Sublessee the Furniture.

  • Personal Property In addition to the real property described in Section II, the Seller shall include the following personal property: _ The real property in Section II and any personal property in Section III shall be collectively known as the “Property”.

  • Furniture Sub-Sublandlord represents and warrants that all furniture and equipment listed and described in Schedule “B” attached hereto is within the Sub-Subleased Premises (such equipment and furniture is hereinafter collectively referred to as the “Existing Furniture”). The Sub-Sublandlord warrants that the Existing Furniture is free of any financial lien or hypothec and that there are no service contracts affecting the Existing Furniture. The parties acknowledge and agree that, upon the execution and delivery of this Sub-Sublease, without the requirement of any additional consideration, all rights, title and ownership in and to the Existing Furniture shall be conveyed to and vest in Sub-Subtenant and Sub-Subtenant shall be free to maintain and/or dispose the Existing Furniture as Sub-Subtenant so elects in its sole discretion but subject to the terms hereof. The foregoing conveyance with respect to the Existing Furniture shall be self-executing and no additional documentation shall be required in order to evidence the aforementioned assignment and conveyance of the Existing Furniture to Sub-Subtenant. Sub-Sublandlord makes no representation or warranty as to the condition, fitness or suitability of such Existing Furniture for Sub-Subtenant’s purposes. Sub-Subtenant may, as it deems appropriate or necessary, reconfigure the Existing Furniture to combine with any of Sub-Subtenant’s furniture and equipment. Sub-Sublandlord shall have no obligation for the maintenance, repair or replacement of any such Existing Furniture.

  • Premises and equipment 6.1 If necessary, the Customer shall provide the Supplier with reasonable access at reasonable times to its premises for the purpose of supplying the Services. All equipment, tools and vehicles brought onto the Customer’s premises by the Supplier or the Staff shall be at the Supplier’s risk.

  • PURCHASE OF EQUIPMENT AND PERSONAL PROPERTY For valuable consideration, the sum of $1.00, receipt of which is acknowledged, Xxxxxx agrees to quitclaim, transfer, sell, waive and release any interest it has or may have, including as the beneficiary of any trust interest created by the provisions of The Book of Discipline of The United Methodist Church, and Xxxxx agrees to accept all of Seller’s title and interest, if any, in and to all of the properties and assets held by Xxxxxx United Methodist Church and relating to the Conference’s claim for itself, or on behalf of The United Methodist Church, of any beneficial right of any kind, including all proprietary rights and privileges of any kind or nature, whether arising by operation of law, trust, contract, property or other means to all tangible personal property owned as of the date of this Bill of Sale in the name of Xxxxxx United Methodist Church (including, without limitation, cash, bank accounts, accounts and notes receivable, deposits, prepaid items, contents, furnishings, equipment, tools, furniture, leasehold improvements, computer software, permits, licenses, authorizations, books, records, papers, securities, funds, goodwill, contracts, and other intangibles (hereinafter collectively, the "Personal Property") on the terms and conditions set forth in this Bill of Sale.

  • Fixtures and Alterations After taking occupancy of the Designated Space, AGENCY shall not, without the COUNTY’S prior written consent, attach any fixtures in or to the Designated Space or change, alter, or make additions to the Designated Space, nor attach or affix any article hereto, nor permit any annoying sound device, overload any floor, or deface the Designated Space. Such prior written consent shall not be unreasonably withheld. Where the COUNTY has approved AGENCY’S modifications to the Designated Space, the AGENCY shall only be required to remove its modifications and restore the Designated Space to its original condition upon the AGENCY’S vacating of the Designated Space should the COUNTY’S approval make such restoration a requirement of its approval. If, however, AGENCY elects to remove its modifications upon vacating the Designated Space, then AGENCY, at its expense, shall restore the Designated Space to its original condition, ordinary wear and tear excepted.

  • Fixtures All Equipment now owned, or the ownership of which is hereafter acquired, by Borrower which is so related to the Land and Improvements forming part of the Property that it is deemed fixtures or real property under the law of the particular state in which the Equipment is located, including, without limitation, all building or construction materials intended for construction, reconstruction, alteration or repair of or installation on the Property, construction equipment, appliances, machinery, plant equipment, fittings, apparatuses, fixtures and other items now or hereafter attached to, installed in or used in connection with (temporarily or permanently) any of the Improvements or the Land, including, but not limited to, engines, devices for the operation of pumps, pipes, plumbing, cleaning, call and sprinkler systems, fire extinguishing apparatuses and equipment, heating, ventilating, plumbing, laundry, incinerating, electrical, air conditioning and air cooling equipment and systems, gas and electric machinery, appurtenances and equipment, pollution control equipment, security systems, disposals, dishwashers, refrigerators and ranges, recreational equipment and facilities of all kinds, and water, gas, electrical, storm and sanitary sewer facilities, utility lines and equipment (whether owned individually or jointly with others, and, if owned jointly, to the extent of Borrower's interest therein) and all other utilities whether or not situated in easements, all water tanks, water supply, water power sites, fuel stations, fuel tanks, fuel supply, and all other structures, together with all accessions, appurtenances, additions, replacements, betterments and substitutions for any of the foregoing and the proceeds thereof (collectively, the "FIXTURES"). Notwithstanding the foregoing, "Fixtures" shall not include any property which tenants are entitled to remove pursuant to leases except to the extent that Borrower shall have any right or interest therein;

  • Equipment and Facilities For On-Site Courses, you will supply the facility and equipment as set forth at xxx.xxxxxx.xxx/xxxxxxxx/xxxxxxxxx/xxxxxxxxxxxx.xxxx. If Red Hat agrees to provide the training facilities and hardware, you will be liable for any loss or destruction of this equipment and hardware used in connection with the Training.

  • Certain Requirements as to Furniture, Equipment and Fixtures If the Assuming Institution purchases owned Bank Premises or accepts an assignment of the lease (or enters into a sublease or a new lease in lieu thereof) for leased Bank Premises as provided in Section 4.6(a) or 4.6(b), or if the Assuming Institution does not exercise such option but within twelve (12) months following Bank Closing obtains the right to occupy such premises (whether by assignment, lease, sublease, purchase or otherwise), other than in accordance with Section 4.6(a) or (b), the Assuming Institution shall (i) effective as of the date of Bank Closing, purchase from the Receiver all Furniture and Equipment and Fixtures owned by the Failed Bank at Fair Market Value and located thereon as of Bank Closing, (ii) accept an assignment or a sublease of the leases or negotiate new leases for all Furniture and Equipment and Fixtures leased by the Failed Bank and located thereon, and (iii) if applicable, accept an assignment or a sublease of any ground lease or negotiate a new ground lease with respect to any land on which such Bank Premises are located; provided, that the Receiver shall not have disposed of such Furniture and Equipment and Fixtures or repudiated the leases specified in clause (ii) or (iii).

  • Equipment and Property A. The Grantee must ensure equipment with a per-unit cost of $5,000 or greater purchased with grant funds under this award is used solely for the purpose of this Grant or is properly pro-rated for use under this Grant. Grantee must have control systems to prevent loss, damage, or theft of property funded under this Grant. Grantee shall maintain equipment management and inventory procedures for equipment, whether acquired in part or whole with grant funds, until disposition occurs.

Time is Money Join Law Insider Premium to draft better contracts faster.