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 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.
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Average Saleable Condition means that all of the following minimum standards have been met: Machine Tool Equipment
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Examples of Average Saleable Condition in a sentence

  • Tenant shall pay all costs to repair Equipment not returned 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.

  • Upon authorization to return Equipment Tenant will properly package and return Equipment to Landlord to any location Landlord designate, insured, freight prepaid by Tenant, in good and working order and in "Average Saleable Condition".

  • 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.


More Definitions of Average Saleable Condition

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 Lessor for any missing or defective parts or accessories. Lessee will continue to pay Rent calculated on a monthly basis until the Equipment is received and accepted by Lessor.
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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.
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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.
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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.
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Average Saleable Condition means that all of the following minimum standards have been met:
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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.
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Related to Average Saleable Condition

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each day in such period (as calculated by Agent as of the end of each respective day) divided by the number of days in such period.

  • Average Net Assets means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each month while this Contract is in effect. The fee is payable for each month within 15 days after the close of the month. The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund, to the extent required by the terms and conditions of such expense limitation. If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 6.0 years.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 6.00%.

  • Weighted Average Life Test means a test that is satisfied at any such time if the Weighted Average Life as calculated on the date of determination is less than or equal to 5.5 years.

  • Average VWAP means the average of the VWAPs for each Trading Day in the relevant period.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Average Market Value is the average of the closing sale prices of the Common Stock during the thirty (30) day period immediately preceding the date before the redemption date on the Composite Tape for New York Stock Exchange Listed Stocks, or, if such stock is not quoted on the Composite Tape, on the New York Stock Exchange, or, if such stock is not listed on such Exchange, on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which such stock is listed, or, if such stock is not listed on any such exchange, the average of the closing sale prices with respect to a share of Common Stock during such thirty (30) day period, as quoted on the National Association of Securities Dealers, Inc. Automated Quotations System or any system then in use, or if no such quotations are available, the fair market value of the Common Stock as determined by the Board of Directors in good faith.

  • average consumption means the average consumption of a customer of a municipal service during a specific period, and is calculated by dividing the total measured consumption of that municipal service by that customer over the preceding three months by three;

  • Total Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Applicable Value means, as of any date, with respect to each Share, the fair value of such Share, as determined in good faith by the Board of Directors.