The purchase cost of durable equipment Sample Clauses

The purchase cost of durable equipment. Only equipment purchased for the purposes of carrying out the action can be charged as direct costs. To be considered as eligible, a cost must be determined according to the beneficiary's usual accounting practice and each beneficiary must apply its usual depreciation system for durable equipment. Depreciation is charged in each relevant periodic report. Depreciated costs of equipment can never exceed the purchase price of the equipment. It is expected that the beneficiary calculates depreciation on the durable equipment that it purchases. Depreciation cannot be spread over a period exceeding the useful life of the equipment. Beneficiaries should be aware that not doing so and charging the full price of an asset in one single year might be considered an "excessive" cost, as referred to in Art. II.14.3 (g) of the ECGA, and therefore be considered ineligible. 14.1 of ECGA above. Only the portion of the equipment used on the project may be charged. The amount of use (percentage used and time) must be auditable. In some cases (e.g. Infrastructure) cost for equipment can include all those costs necessary for the asset to be in working condition for its intended use (site preparation, delivery and handling, installation, etc.). A particular regime applies to all projects financed under the Programme "Research Potential", which is part of the FP7 Specific Programme "Capacities". The acquisition of research equipment is one of the core activities of the Research Potential Programme. Consequently, the EU will bear up to the total cost of the research equipment (except VAT), regardless of the depreciation used by the beneficiary29. In this specific context, the beneficiary could therefore charge up to the full price of equipment identified in Annex I. In any event the equipment cannot be charged to any other EU project. This exception, having been established from the outset in the Specific Programme "Capacities", shall apply to all projects of the Research Potential Programme financed as of the beginning of FP7. An explicit reference to this specificity shall be introduced in all future Work Programmes of the "Capacities" Programme as of 2011. a) The cost must be economic and necessary. b) Only the portion of the equipment used on the project may be charged. The amount of use (percentage used and time) must be auditable. Thus, if the equipment is used for other projects, and/or for other activities, part of the equipment cost will be charged to these projects/activ...
Sample 1
AutoNDA by SimpleDocs

Related to The purchase cost of durable equipment

  • Required Equipment Employees are expected to be at their individual work stations with required equipment in operable condition at the scheduled shift starting time.

  • Metering Equipment 13.01. Utility will furnish, install, own and maintain metering equipment capable of measuring the flow of kilowatt-hours (kWh) of energy. The Customer's service associated with the CRG will be metered at a single metering point. The metering equipment will measure energy delivered by Utility to Customer and also measure energy delivered by Customer to Utility. Customer agrees to provide safe and reasonable access to the premises for installation of this equipment and its future maintenance or removal.

  • Equipment Use Lessee agrees that the Equipment will be operated by competent, qualified personnel in connection with Lessee's business for the purpose for which the Equipment was designed and in accordance with applicable operating instructions, laws, and government regulations, and that Lessee shall use all reasonable precautions to prevent loss or damage to the Equipment from fire and other hazards. Lessee shall procure and maintain in effect all orders, licenses, certificates, permits, approvals, and consents required by federal, state, or local laws or by any governmental body, agency, or authority in connection with the delivery, installation, use, and operation of the Equipment.

  • Office Equipment The Client must not install any cabling, IT or telecom connections without the Provider’s consent, which the Provider may refuse at its absolute discretion.

  • 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

  • Stored equipment We accept no responsibility for any stored equipment or other property brought on to or left at the premises, and all liability for loss or damage is hereby excluded. All equipment and other property (other than stored equipment) must be removed at the end of each hiring or we will charge fees each day or part of a day at the hire fee per hiring until the same is removed. We may, in our discretion, dispose of any items referred to below by sale or otherwise on such terms and conditions as we think fit, and charge you any costs we incur in storing and selling or otherwise disposing of the same, in any of the following circumstances: (i) your failure either to pay any charges in respect of stored equipment due and payable or to remove the same within seven days after the agreed storage period has ended (ii) your failure to dispose of any property brought on to the premises for the purposes of the hiring.

  • Leased Equipment The risk of loss or damage to leased equipment, goods or property shall not transfer to the University except as provided in §680.219, Florida Statutes. Any security interest in the leased equipment, goods or property granted to the Contractor contrary to AGO 79-72 and AGO 80-9 is null and void. Limitations of remedies provisions, which are unconscionable under applicable Florida law, are void. MATERIAL SAFETY DATA SHEET (MSDS). In compliance with Florida Statutes, Ch. 442, a Material Safety Data Sheet (MSDS) must accompany any applicable item delivered under this Agreement.

  • MEASURING EQUIPMENT 1. Seller will maintain and operate, atlts own, expense and atthe point of delivery of gas hereunder, a meter or meters and othernecessary equipment by which the volume of gas delivered hereunder shall be measured. Such meters and equipment shall remain the property of the Seller. 2. Buyer agrees lo furnish to Seller electricity for operating Seller's meters, at not cost to Seller. 3. Buyer hereby grants to Seller suitable rlghts-0f-way and easements necessary or Incidental for the installatioo, maintenance, operation and removal of pipeline and other facilities together with rights ofingress thereto and egress there from at all times and hereby agrees to deliver to Seller, for the sum of one dollar ($1.00), an appropriate instrument or grant defining such rights and easements located on Buyer's planlslte. 4. Buyer may install, maintain and operate such check measuring equipment, Including arecording gravltometer and calorimeter as it shall desire, provided that such equipment shall be so installed so as not to Interfere with the operation of Seller's measuring equipment at or near the point of deliver. However, all xxxxxxxx to the Buyer shall be based on the metering of the Seller, subject only to the provisions of Paragraph 8 of this Article. 5. Each party shall have the right to be present at the time of any installing, reading, cleaning, changing, repairing, Inspecting, testing, calibrating, or adjusting done In connection with the other's measuring equlpme!lt used in measuring deliveries hereunder and each party shall advise the other of any Intended major maintenance operation sufficiently in advance in order that the other party may conveniently have its representative present. 6. All installatioo of measuring equipmenL applying to or effecting deliveries hereunder, shall be rnade in such manner as to perrnit an accurate detenninalion of the quantity of gas delivered and ready verification of the accuracy of measurement Orifice meter Installations, If used, shall oonforrn lo the recommendation for design and lnstallatioo contained in the Gas Measurement Commiltee Report No. 3 to the American Gas Association published April, 1955, and any modificatioos and amendments thereof and shall include the use of flange connections. 7. Measurement on Seller's meter or meters shall be conclusive of both parties except where the meter Is defective or fails to register, or if found in E)rror, in either of which case Seller shall repair or replace the meter and the quantity of gas delivered while the meter was out of order or failed to register shall be estimated: (a) By using the registration of any check meter If installed and accurately registering, or, In the absence of (a): (b) By correcting the error If the percentage of error by calibration, test or mathematical calculation, or, in the absence of both (a) and (b) then: (c) By estimating the quantity of delivery from deliveries during periods under similar oonditions when the meter was registering actUrately; and an appropriate billing adjusbnentshall be made In accordance with the current Rules and Regulations governing gas systems issued by the Commission. 8. Seller will maintain its meters in .good order and to this end Wiii make periodic tests of its meters pursuant to the current Rules and Regulations governing gas systems issued by the Commission, or at such shorter intervals as seem to Seller desirable. lfBuyer Is dissatisfied with the accuracy at eny time, it may call upon Seller to have Iha meter tested in accordance with all regulatioos relating to such tests and results of such tesls as found in the current Rules and Regulations governing gas systems issued by the Commission. 9. Each party shall preserve all records for aperiod of at least two (2) years.

  • Testing of Metering Equipment Connecting Transmission Owner shall inspect and test all of its Metering Equipment upon installation and at least once every two (2) years thereafter. If requested to do so by NYISO or Developer, Connecting Transmission Owner shall, at Developer’s expense, inspect or test Metering Equipment more frequently than every two (2) years. Connecting Transmission Owner shall give reasonable notice of the time when any inspection or test shall take place, and Developer and NYISO may have representatives present at the test or inspection. If at any time Metering Equipment is found to be inaccurate or defective, it shall be adjusted, repaired or replaced at Developer’s expense, in order to provide accurate metering, unless the inaccuracy or defect is due to Connecting Transmission Owner’s failure to maintain, then Connecting Transmission Owner shall pay. If Metering Equipment fails to register, or if the measurement made by Metering Equipment during a test varies by more than two percent from the measurement made by the standard meter used in the test, Connecting Transmission Owner shall adjust the measurements by correcting all measurements for the period during which Metering Equipment was in error by using Developer’s check meters, if installed. If no such check meters are installed or if the period cannot be reasonably ascertained, the adjustment shall be for the period immediately preceding the test of the Metering Equipment equal to one-half the time from the date of the last previous test of the Metering Equipment. The NYISO shall reserve the right to review all associated metering equipment installation on the Developer’s or Connecting Transmission Owner’s property at any time.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!