Average Saleable Condition definition

Average Saleable Condition means that all of the Equipment is immediately available for use by a third party, other than you, without the need for any repair or refurbishment. All Equipment must be free of markings. You will pay us for any missing or defective parts or accessories.

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Average Saleable Condition means that all of the following minimum standards have been met: (i) The Equipment has been, or will be, disassembled according to manufacturer's recommendations and by a licensed rigger/erector specializing in the equipment, including the proper blueprinting, mapping, tagging and labeling of each individual part including cables, electrical components and wires, all process fluids and/or any hazardous materials have been removed from the Equipment and disposed of in accordance with Applicable Law. (ii) The Equipment is complete with all manuals, maintenance records, log books, plans, drawings and schematics, inspection and overhaul records, operating requirements or other materials pertinent to the Equipment's operation, maintenance, assembly and disassembly. (iii) There is no structural or mechanical damage, frame, and the structural members and accessories are structurally sound without breaks or cracks, in compliance with Applicable Law and the engine, hydraulics and transmission all operate properly at fully rated loads. (iv) Transmissions shift properly at full rated loads and speeds, the mechanical drive train, differentials and final drives are in good condition and operate quietly without vibrations or leaks. (v) Tires are in recappable condition and track components have at least 50% wear remaining. (vi) Equipment with predictable or scheduled replacements or overhaul lives including but not limited to tires, track components, power train assembly, transmissions, converters, engines hydraulics, axles, wheels, brakes, pumps, diggers, buckets, blades, rippers and other attachments (including cutting edges) have not less than 50% useful life remaining before the next such replacement or overhaul and all cutting edges and other wear points have at least 50% of their respective material design lives remaining. (vii) All ground engaging tools (buckets, blades, rippers) and cabs, canopies, enclosures, lights and other accessories are in good condition and appearance. ________________________________________________________________________________ (viii) Periodic adjustments and inspections have been performed, and all lubricants and hydraulic oils have been changed, Lessee has maintained written records of preventative maintenance and repairs indicating date and hour meter readings verified by parts invoices, copies of these records are available to Lessor on demand and all oil and hydraulic fluid samples are clean and with no dirt or other foreign subs...

Average Saleable Condition means that all of the Equipment is immediately available for use by a third party buyer, user or lessee, other than Lessee named in this Lease, without the need for any repair or refurbishment. Lessee will pay

Examples of Average Saleable Condition in a sentence

• Reasonable wear and tear shall mean that each item of the Equipment has been maintained by Lessee in "Average Saleable Condition" (as hereinafter defined) and that all components of the Equipment have been properly serviced, following the manufacturer's written operating and servicing procedures, such that the Equipment is eligible for a manufacturer's standard, full service maintenance contract without Lessor's incurring any expense to repair or rehabilitate the Equipment.

• Upon return of the Products they may be inspected by or on behalf of the Lessor and any and all discrepancies from the Return Conditions or (if there are no Return Conditions) any failure to meet Average Saleable Condition may be corrected by the Lessor at the Lessee’s expense.

• As applied to any unit of Equipment, "reasonable wear and tear" shall mean that such unit has been maintained by Lessee in "Average Saleable Condition".

• If you fail to: 1) return the Equipment to us in Average Saleable Condition, to a location specified by us at your expense, at the end of the Lease (or any renewal term); or 2) timely pay the purchase option granted by us to you, if any, then this Lease will automatically renew on the same terms and conditions for another 12 months.

• The Equipment must be properly packed for shipment in accordance with the manufacturer's recommendations or specifications, freight prepaid and insured, maintained in accordance with Section 10, and in "Average Saleable Condition." "Average Saleable Condition" means the System is immediately available for use by a third party buyer, user or lessee, other than yourself, without the need for any repair or refurbishment.

• Average Saleable Condition means that all of the Products are immediately available for use by a third party, other than Yourself, in good working order and condition, free from any defects and without the need for repair or refurbishment, fair wear and tear excluded.

• Average Saleable Condition means that all of the Equipment is immediately available for use by a third party buyer, user, or lessee, other than yourself, without the need for any repair or refurbishment.

• The Equipment must be properly packed for shipment in accordance with the manufacturer's recommendation or specification, freight prepaid and insured, maintained in accordance with Section 6, and in Average Saleable Condition.

• Upon expiry or termination of this Agreement and/or hiring the Products for any reason then, notwithstanding the other terms of this clause, if You do not or cannot return the Products to Us for any reason within 30 days of such expiry or termination, including but without limitation because they are a total loss, then You will pay us forthwith a sum equal to the amount We anticipated the Products would be worth at the end of the Minimum Period assuming it had been returned in Average Saleable Condition.

• If You fail to do so You will be liable for Our costs in recovering the Products and/or restoring them to Average Saleable Condition.

More Definitions of Average Saleable Condition

Average Saleable Condition means such condition that: (A) all components have at least a fifty (50%) remaining life until the next scheduled overhaul; (B) the Equipment has been properly operated and maintained in accordance with prudent industry practice; (C) the Equipment operates at its rated horsepower, temperature, pressure, fuel consumption, capacity, and efficiency and energy requirement, Reasonable Wear and Tear excepted; and (D) in accordance with any additional return requirements set forth in the applicable Schedule.

Average Saleable Condition means that all of the following minimum standards have been met: Machine Tool Equipment

Average Saleable Condition means that all of the Products are free of markings and immediately available for use by a third party user or lessee, other than the Lessee, without the need for repair or refurbishment. Upon return of the Products they may be inspected by or on behalf of the Lessor and any and all discrepancies from the Return Conditions or (if there are no Return Conditions) any failure to meet Average Saleable Condition may be corrected by the Lessor at the Lessee’s expense. In remedying the condition of the Products the Lessor may carry out such work as it reasonably considers necessary and the Lessee will in any event on demand pay for any and all costs, charges and fees which may be incurred, in connection with any restoration of the Products to the required condition or which would be incurred if the Lessor carried out such restoration. Such costs shall be calculated on the assumption that the restoration shall use only spare parts and services recommended by the manufacturer.

Average Saleable Condition means the Equipment is immediately available for use without the need of any repair. You agree to reimburse us for repair costs. If you are granted a purchase option, and you are not in default of this Lease, you may purchase the Equipment from us “WHERE IS, AS IS” for the option price at the end of the lease term. You may not pay off this Lease in full and return the Equipment prior to the end of the lease term without our consent.

Average Saleable Condition means the Equipment is immediately available for use by another customer without the need for any repairs or refurbishment. Should Customer fail to return the Equipment at the end of the Term, this Agreement shall automatically renew on a month-to-month basis until the Equipment is returned in the manner provided herein, notwithstanding any written notification from Customer to the contrary.

Average Saleable Condition means the System is immediately available for use by a third party buyer, user or lessee, other than yourself, without the need for any repair or refurbishment. All Equipment must be free of markings other than those placed at our request. You will pay us for any missing or defective parts or accessories. You will continue to pay Rent until the System is accepted by us subject to Section 6. Our acceptance of the System shall occur fifteen (15) Days after delivery unless we reject the Equipment for good cause within such fifteen (15) Day period.