Surplus Equipment Clause Samples

The Surplus Equipment clause defines how equipment that is no longer needed or used by a party is handled under the agreement. Typically, this clause outlines the process for identifying surplus items, the method for their disposal or transfer, and any rights of first refusal or purchase that may apply to the other party. For example, it may require the owner to notify the other party before selling or discarding surplus equipment. The core function of this clause is to ensure transparency and fairness in the management and disposition of excess assets, preventing disputes and clarifying each party’s rights regarding surplus property.
Surplus Equipment. Supplier shall, at its cost, prepare surplus Kraft owned Equipment for shipment. The responsibilities of the Parties with respect to transportation and disposal of such Equipment is set forth in the applicable Supplement. If and to the extent Supplier is responsible for disposal of any Kraft-owned Equipment, Supplier shall (i) obtain Kraft’s consent to dispose of such Equipment before disposing of it; and (ii) maintain reasonable documentation regarding the disposition, including the costs of and revenues from disposal and as proof of appropriate disposal, and shall make such documentation available to Kraft upon Kraft’s request.
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Surplus Equipment shall be applicable to any salvage or disposal of structures, improvem ents, fixtures, machinery and equipment having a resale or salvage value and w hich are rendered obsolete or surplus by the construction of the Initial Capital Improvements.
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Surplus Equipment. Service Provider shall, at its cost, dispose of any surplus Equipment owned by Allegheny, consistent with the requirements of Schedule 2.8, and Service Provider shall pay Allegheny any money received from disposal of Allegheny-owned Equipment. Service Provider shall obtain Allegheny’s consent to dispose of any Allegheny-owned Equipment before disposing of such Equipment. Service Provider shall maintain reasonable documentation regarding the disposition of such surplus Equipment, including the costs of and revenues from disposal and as proof of appropriate disposal, and shall make such documentation available to Allegheny upon Allegheny’s request.
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Surplus Equipment. Upon RJRTC ceasing to be the manufacturer of Cigarettes bearing a Non-Key Brand name in accordance with Sub-Section 2.2A, the Parties shall discuss in good faith the possible acquisition by BATUS Japan, on such terms as the Parties may agree, of any Surplus Equipment used in relation to the manufacturing and/or packaging of Cigarettes bearing such Non-Key Brand name. Prior to RJRTC ceasing to be the manufacturer of Cigarettes bearing each Non-Key Brand name, RJRTC shall provide BATUS Japan with details of all Surplus Equipment used in relation to the manufacturing and/or packaging of Cigarettes bearing the relevant Non-Key Brand name.
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Surplus Equipment. Supplier shall manage the disposal of any surplus Equipment owned by Hercules and shall use commercially reasonable efforts to optimize the Net Disposal Value of such surplus Equipment for the benefit of Hercules. The “Net Disposal Value” shall mean the (i) amount received from the disposal of Hercules owned Equipment, less (ii) the Out-of-Pocket Expenses reasonably incurred by Supplier in connection with such disposal. The Net Disposal Value of any surplus Equipment disposed of pursuant to this provision shall be credited to Hercules if (i) is greater than (ii) or charged to Hercules if (ii) is greater than (i) on the invoice immediately following the date of such disposal.. Supplier shall obtain Hercules’ consent to dispose of any Hercules-owned Equipment before disposing of such Equipment. Supplier shall maintain reasonable documentation regarding the disposition of such surplus Equipment, including the costs of and revenues from disposal, and shall make such documentation available to Hercules upon Hercules’ request. THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [******] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
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Surplus Equipment. The Parties shall discuss in good faith the possible acquisition by BATUS Japan, on such terms as the Parties may agree, of any Surplus Equipment on the termination of this Agreement. By no later than (a) the date being twelve (12) months prior to the expected termination of this Agreement or (b) where the Parties have less than twelve (12) months’ advance notice of the termination of this Agreement, on the Parties becoming aware that the Agreement is expected to terminate within twelve (12) months, RJRTC shall provide BATUS Japan with details of all Surplus Equipment. The above shall apply irrespective of the reason for termination of this Agreement and irrespective of whether this Agreement is extended in accordance with Sub-Section 4.4.
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Surplus Equipment. Supplier shall as part of the Services dispose of any surplus Equipment owned by Triad, and Supplier shall pay Triad any money received from disposal of Triad -owned Equipment, after deducting the reasonable cost incurred by Supplier of disposing of such Equipment (e.g., Out-of-Pocket Expenses relating to packing and shipping). Supplier shall obtain Triad’s consent to dispose of any Triad-owned Equipment before disposing of such Equipment. Supplier shall maintain reasonable documentation regarding the disposition of such surplus Equipment, including the costs of and revenues from disposal, and shall make such documentation available to Triad upon Triad’s request.
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Related to Surplus Equipment

  • Capital Equipment Collaborator’s commitment, if any, to provide ICD with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to ICD the capital equipment or provides funds for ICD to purchase it, then ICD will own the equipment. If Collaborator loans capital equipment to ICD for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and ICD will not be liable for any damage to the equipment.

  • Contractor’s Equipment The Contractor shall be responsible for all Contractor’s Equipment. The Contractor’s Equipment shall be deemed to be exclusively intended for the execution of the Works.

  • New Equipment Where new types of equipment and/or operations, for which rates of pay are not established by this Agreement, are put into use after the ratification date of this Agreement within operations covered by this Agreement, rates governing such operations shall be subject to negotiations between the parties. This paragraph shall apply to all new types of equipment including office and clerical equipment. In the event an agreement cannot be reached within sixty (60) days after the date such equipment is put into use, the matter may shall be submitted to the National Grievance Committee for final disposition. Rates agreed upon or awarded shall be effective as of the date equipment is put to use

  • Rental Equipment 7.1 We will at all times own all Rental Equipment supplied to you. You will not let, sell, charge, assign, sub-license or allow a third party to use the Rental Equipment nor remove any labels, and shall not prejudice our rights in the Rental Equipment in any way. We may replace the Rental Equipment from time to time either with your prior consent or provided that the replacement Rental Equipment is of a specification that is at least equal to the Rental Equipment originally supplied and such change does not materially disrupt the provision of the Services. 7.2 Subject to the other terms of this paragraph 7, we (or our authorised representative) shall, during our usual working hours: 7.2.1 where necessary install the Rental Equipment at your premises at a time and date agreed with you; and 7.2.2 use our reasonable endeavours to repair any faults to the Rental Equipment in accordance with our standard procedures (which are available on request). 7.3 It is your responsibility to look after the Rental Equipment that is in your possession or custody and you agree to pay for the Rental Equipment to be replaced or repaired if it is lost, stolen or damaged. 7.4 You will notify us promptly of any faults which occur, any repairs which become necessary, and of any loss, theft or damage to the Rental Equipment. 7.5 You agree that you will only use the Rental Equipment in conjunction with the relevant Services and shall comply with our reasonable instructions in relation to its use. 7.6 You shall be responsible for maintaining adequate cover in place to insure the Rental Equipment while it remains in your possession and custody. You will also be responsible for obtaining and, where appropriate, paying for all necessary licenses, consents and approvals required for the installation and use of the Rental Equipment. 7.7 You will not (and you will ensure that no-one else will) repair, alter, modify or maintain, or make any additions or attachments to, or otherwise alter, the Rental Equipment without our prior written consent. We will not be liable for any costs or charges incurred, faults caused by, or repairs required as a result of, installation or programming of Rental Equipment that is carried out by any other person (other than our employees or agents). You agree to indemnify us for all losses, damages and expenses that are brought against or incurred by us, arising as a result of the same. 7.8 On expiry or termination of the Agreement or the relevant Service, all Rental Equipment must be returned to us in reasonable condition, subject to reasonable wear and tear. If you fail to return or make available for collection the Rental Equipment in a reasonable condition or at all we may, at our option, invoice you for a sum equal to the original cost of the Rental Equipment less any depreciation together with any costs reasonably incurred by us. 7.9 In the event that you return Rental Equipment to us and it is not received by us, in the absence of reasonable evidence that the Rental Equipment has been delivered to us you accept that you shall remain liable for the Rental Equipment.

  • Office Space, Equipment and Facilities Provide such office space, office equipment and office facilities as are adequate to fulfill the Adviser’s obligations hereunder.