Bulk Equipment definition
Bulk Equipment means all Specified Equipment, all Spare Parts, and all other types of Equipment (including storage tanks, vessels and cylinders) that are (a) owned, leased, used or held for use or ordered by either of the Sellers, either of the Companies or the Operating Company (excluding cars owned or leased by the Operating Company and provided to Business Employees who are not Transferred Employees) and (b) used in or necessary for the operation of the Bulk Gas Business, including such Equipment (including applications equipment) that is located at the facilities of customers of the Bulk Gas Business. For the avoidance of doubt, “Bulk Equipment” does not include any Excluded Assets.
Examples of Bulk Equipment in a sentence
Except as set forth on Schedule 4.11(a)(ii), all tangible personal property and assets comprising any part of the Bulk Assets (other than the owned Real Property and the Leased Real Property) are, in all material respects, in operating condition and repair, normal wear and tear excepted, sufficient for the conduct of the Bulk Gas Business substantially as conducted as of the date hereof, other than Bulk Equipment under or out of repair in the Ordinary Course of Business.