Equipment Group definition

Equipment Group shall consist of all Items of Equipment listed on a particular Equipment Schedule.

Equipment Group means collectively, the Items of Equipment subject to the Lien of the Indenture, as described in one or more Indenture Supplements to the Indenture.

Equipment Group means the Equipment listed in a particular Schedule A, Equipment to be Installed by Company. An Equipment Group may not be smaller than an auditable unit nor greater than a Facility. With respect to each Equipment Group this Contract, together with the Agency Certificate of Acceptance, and the fully executed Description of Facilities relating thereto, shall constitute a separate contract relating to such Equipment Group. With respect to any Equipment Group, the payment due from Agency to either the Company, or a Lender under any Financing Agreement, on each Payment date is shown in the Schedule D, Compensation, or Schedule L, Financing Agreement, completed for such Equipment Group.

Examples of Equipment Group in a sentence

• Each Lease with respect to an Equipment Group shall be in effect for a Lease Term commencing upon the Lease Date and ending as provided in Section 3.4.

• Prior to the addition of any Equipment Group, Lessee shall provide Lessor with a description of the equipment proposed to be subject to a Lease hereunder, including the cost and vendor of such equipment, the expected delivery date and the desired lease terms for such equipment, and such other information as the Lessor may require.

• If Lessor and Lessee agree that the cost of an Equipment Group is to be paid from an Escrow Account: (a) Lessor and Lessee shall execute an Escrow Agreement substantially in the form of Exhibit I or such other form as may be mutually agreeable by the parties thereto; (b) Lessor and Lessee shall execute an Equipment Schedule relating to such Equipment Group; and (c) Lessor shall deposit an amount equal to the cost of the Equipment Group into the Escrow Account.

• Lessee shall have quiet use and enjoyment of and peaceably have and hold each Equipment Group during the related Lease Term, except as expressly set forth in this Agreement.

• Upon receipt of the Prepayment Price in good funds with respect to any Equipment Group, the Lease with respect to such Equipment Group shall terminate and Lessee shall become entitled to such Equipment Group AS IS, WHERE IS, WITHOUT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR FITNESS FOR THE USE CONTEMPLATED BY LESSEE, except that such Equipment Group shall not be subject to any lien or encumbrance created by or arising through Lessor.

More Definitions of Equipment Group

Equipment Group means the personal property listed on any Equipment Identification Certificate.

Equipment Group means each of the three groups of Equipment so designated in Schedule 1A or 1B to the Participation Agreement.

Equipment Group means, (a) with respect to each Item of Equipment, the “Group” to which such Item of Equipment belongs as specified in Schedule A to this Second Supplemental Indenture, and (b) with respect to any Item of Equipment subjected to the Lien of the Indenture pursuant to Section 5.2 or 5.4 hereof in substitution for an Item of Equipment that shall have suffered a Casualty Occurrence or shall have become worn out or unsuitable for use, the Equipment Group of the Item of Equipment for which substitution shall then be made.

Equipment Group shall consist of all Items of Equipment listed on a particular Equipment Schedule. (j) "EQUIPMENT LOCATION" shall mean the location of the Equipment, as set forth on an Equipment Schedule, or such other location (approved by Lessor) as Lessee shall from time to time specify in writing. (k) "EQUIPMENT SCHEDULE" shall mean each equipment lease schedule from time to time executed by Lessor and Lessee with respect to an Equipment Group, pursuant to and incorporating by reference all of the terms and conditions of this Master Equipment Lease Agreement. (l) "EVENT OF DEFAULT" shall have the meaning specified in Section 22 hereof. (m) "FAIR MARKET RENTAL VALUE" or "FAIR MARKET SALE VALUE" shall mean the value of each Item of Equipment for lease or sale, unless otherwise specified herein as determined between Lessor and Lessee, or, if Lessor and Lessee are unable to agree, pursuant to the Appraisal Procedure, which would be obtained in an arms-length transaction between an informed and willing lessor or seller (under no compulsion to lease or sell) and an informed and willing lessee or buyer (under no compulsion to lease or purchase). In determining the Fair Market -------------------------------------------------------------------------------- Page 2 of 11 Rental Value or Fair Market Sale, Value of the Equipment, (a) such Fair Market Rental Value or Fair Market Sale Value shall be calculated on the assumption that the Equipment is in the condition and repair required by Sections 12 and 13 hereof, and (b) there shall be excluded from the calculation thereof the value of any upgrades and attachments made pursuant to Section 14 hereof in which the Lessor does not own an interest; PROVIDED, HOWEVER, that, unless otherwise provided in such Section 22, for purposes of Section 22 of the Lease, Fair Market Sale Value of the Equipment shall be determined based upon the actual facts and circumstances then prevailing without regard to the assumptions in clause (a) above.

Equipment Group shall consist of all Items of Equipment listed on a particular Equipment Schedule. (j) "EQUIPMENT LOCATION" shall mean the location of the Equipment, as set forth on an Equipment Schedule, or such other location (approved by Lessor) as Lessee shall from time to time specify in writing. (k) "EQUIPMENT SCHEDULE" shall mean each equipment lease schedule from time to time executed by Lessor and Lessee with respect to an Equipment Group, pursuant to and incorporating by reference all of the terms and conditions of this Master Equipment Lease Agreement. (l) "EVENT OF DEFAULT" shall have the meaning specified in Section 22 hereof. (m) "FAIR MARKET RENTAL VALUE" or "FAIR MARKET SALE VALUE" shall mean the value of each Item of Equipment for lease or sale, unless otherwise specified herein as determined between Lessor and Lessee, or, if Lessor and Lessee are unable to agree, pursuant to the Appraisal Procedure, which would be obtained in an arms-length transaction between an informed and willing lessor or seller (under no compulsion to lease or sell) and an informed and willing lessee or buyer (under no compulsion to lease or purchase). In determining the Fair Market Rental Value or Fair Market Sale Value of the Equipment, (a) such Fair Market Rental Value or Fair Market Sale

Equipment Group means Units (including Uncompleted Units) financed under the Equipment Tranche which are allocated by Lessee to an Equipment Lease Supplement and listed on the Schedule to such Lease Supplement; provided, however, an Equipment Group shall include all Turbines which under the Existing Equipment Contract or any other Equipment Contract are scheduled to be Shipped within any consecutive 90-day period following the Document Closing Date, and provided further, that the Spare Engines will be deemed together a separate Equipment Group to which no other Units will be allocated.

Equipment Group means Units of Equipment which (i) have an aggregate Equipment Purchase Price of not less than $500,000; (ii) are comprised of the type of Equipment described in items (i) or (ii) of the definition of Qualified Equipment; and (iii) are set forth on Schedule I to an Equipment Lease Supplement.