Affected Asset definition

Affected Asset means [— 50

Affected Asset means any machinery, plant, implement, utensil, article, aircraft or ship which has been let and in respect of which the lessor is or was entitled to an allowance under section 11(e), 12B, 12BA, 12C, 12DA or 37B(2)(a), whether in the current or a previous year of 10 assessment, but excluding any such asset let by the lessor under an operating lease or any such asset which was during the year of assessment mainly used by [him] the taxpayer in the course of any trade carried on by [him] the taxpayer, other than the letting of any such asset;’’; 15

Affected Asset shall have the meaning set forth in Section 4.2 B.3.

Examples of Affected Asset in a sentence

• If such Required Consent has not been obtained as of the Final Settlement Date, the Affected Asset shall be excluded from the sale and the Purchase Price shall be deemed to be reduced by an amount equal to the Allocated Value of the Affected Asset.

• If such Material Consent is obtained on or before the Final Settlement Date, Seller shall convey the Affected Asset to Buyer effective as of the Effective Time and Buyer shall pay Seller the Allocated Value of the Affected Asset, in accordance with the terms and conditions of this Agreement.

• If prior to Closing, Seller fails to obtain a consent to assign that would invalidate the conveyance of the Asset affected by the consent to assign or materially affect the value or use of the Asset (a “Material Consent”) and the failure to obtain such Material Consent has not been waived by Buyer, then Seller shall retain the Affected Asset and the Purchase Price shall be reduced by the Allocated Value of the Affected Asset.

• If such Material Consent is not obtained on or before the Final Settlement Date, the Affected Asset shall be excluded from the sale and the Purchase Price shall be deemed to be reduced by an amount equal to the Allocated Value of the Affected Asset.

• If physical damage is discovered to the Affected Asset after the in-survey, the Parties agree this shall be presumed to have been caused by the Installation Work, unless the Active Party can demonstrate otherwise.

More Definitions of Affected Asset

Affected Asset has the meaning set forth in Section 4.5(d) of the Transfer Agreement. “Affidavit and Assignment of Claim” means an Affidavit and Assignment of Claim in the form of Attachment D to the Transfer Agreement.

Affected Asset means an Asset in which prior to Closing Seller (i) fails to obtain a Required Consent; or (ii) is notified that a Third Party intends to exercise its Preferential Right.

Affected Asset has the meaning given that term in Section 4.5(d)(i).

Affected Asset has the meaning set forth for such term in (i) the Atlantis Contribution Agreement for Produced Water assets to be conveyed to Gatherer pursuant to such agreement, and (ii) the Poseidon Contribution Agreement for Produced Water assets to be conveyed to Gatherer pursuant to such agreement.

Affected Asset has the meaning set forth in Section 4.5(d)(i) of the Contribution Agreement.

Affected Asset has the meaning set forth in Section 2.6.

Affected Asset has the meaning set forth in Section 4.5(d) of the Transfer Agreement.