Excess personal property definition

Excess personal property means any personal property under the control of a Federal agency that the agency head determines is not required for its needs or for the discharge of its responsibilities.

Excess personal property means any and all Personal Property that cumulatively exceeds the amount of property that could fit in a 60- gallon container with the lid closed.

Excess personal property. As defined in Section 18.1.

Examples of Excess personal property in a sentence

• If Lessor reasonably anticipates that the Personal Property Limitation will be exceeded with respect to the Leased Property for any Lease Year, Lessor shall notify Lessee, and Lessee shall purchase items of personal property anticipated by Lessor to be in excess of the Personal Property Limitation ("Excess Personal Property Items") either from Lessor or a third party.

• If the Excess Personal Property Items are purchased from Lessor, the purchase prices of such Excess Personal Property Items shall be equal to the adjusted tax bases of such Excess Personal Property Items in the hands of Lessor as of the closing of the purchase.

• Notwithstanding anything to the contrary set forth above, Tenant shall not be responsible in any way for determining whether Tenant has exceeded or will exceed the Personal Property Limitation and shall not be liable to Landlord or any of its shareholders in the event that the Personal Property Limitation is exceeded, as long as Tenant meets its obligation to acquire or lease any Excess Personal Property as provided above.

• If Landlord reasonably anticipates that the Personal Property Limitation will be exceeded with respect to the leased property for any Lease Year, Landlord shall notify Tenant, and Tenant either (i) shall purchase at fair market value any personal property anticipated to be in excess of the Personal Property Limitation (“Excess Personal Property”) either from Landlord or a third party or (ii) shall lease the Excess Personal Property from third party.

• If Landlord reasonably anticipates that the Personal Property Limitation will be exceeded with respect to the leased property for any year, Landlord shall notify Tenant, and Tenant either (i) shall purchase at fair market value any personal property anticipated to be in excess of the Personal Property Limitation (“Excess Personal Property”) either from Landlord or a third party or (ii) shall lease the Excess Personal Property from a third party.

• If Landlord reasonably anticipates that the Personal Property Limitation will be exceeded with respect to the leased property for any Lease Year, Landlord shall notify Tenant, and Tenant either (i) shall purchase at fair market value any personal property anticipated to be in excess of the Personal Property Limitation ("Excess Personal Property") either from Landlord or a third party or (ii) shall lease the Excess Personal Property from third party.

• Notwithstanding anything to the contrary set forth above, Tenant shall not be responsible in any way for determining whether or not Tenant has exceeded or will exceed the Personal Property Limitation, and shall not be liable to Landlord or any of Landlord's shareholders in the event that the Personal Property Limitation is exceeded, as long as Tenant meets Tenant's obligation to acquire or lease any Excess Personal Property as provided above.

• The Contract Property Administrator in conjunction with HHS property management will issue an SF-120 (Report of Excess Personal Property), and SF-126 (Report of Personal Property for Sale) or an SF-15 (Sale of Government Property) for government property, regardless of value, that is not required for further use by the Department.

• CLOSEOUT REPORTING [X] DOE F 2050.11, Patent Certification [ ] NETL F 580.1-9, Property Certificate [ ] SF-120, Report of Excess Personal Property V.

• Trade-in of Information Technology (FIP) Equipment When an agency determines that FIP equipment will be replaced, the agency shall follow the contracting policies and procedures in the Federal Acquisition Regulation (FAR), the policies and procedures regarding Disposition of Information Technology Excess Personal Property in the Federal Property Management Regulations (FPMR)(41 CFR 101-43.6), and the policies and procedures on exchange/sale contained in FPMR 41 CFR part 101-46.

More Definitions of Excess personal property

Excess personal property means any personal property under the control of any Federal agency which is not re­ quired for its needs and the discharge of its responsibilities, as determined by the head thereof.

Excess personal property means the items of personal property at one or more Bristol Hotels that are subject to a particular New Lease that would cause the adjusted tax basis of all of the personal property of such Bristol Hotel(s) to exceed 15% of the aggregate adjusted tax basis of the real and personal property located at such Bristol Hotel(s) on the Spin-Off Date.

Excess personal property means any personal property under the control of any Federal agency that is no longer required for that agency's needs, as determined by the agency head or designee.

Excess personal property means property which cannot be stored in the designated storage in the patient’s room or personal storage space on the unit.

Excess personal property means Authority property other than real property which is not needed at the present location, but may be of use at other locations.

Excess personal property means personal property that no longer meets Agency needs, as determined by the agency head or designee, but has not yet been demolished or disposed of. In the case of NSF owned property, this property should be included on the deferred maintenance list and categorized as ‘non-functional’. (GSA Federal Management Regulation, Subchapter B – Personal Property, Section 102-36.40).