Functionally obsolete definition

Functionally obsolete means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity, changes in technology, deficiencies or superadequacies in design, or other similar factors that affect the property itself or the property's relationship with other surrounding property.

Functionally obsolete or “Functional Obsolescence” shall mean any FF&E or other facility, surface, structure or component of the Premises that is not dysfunctional (and thus not Physically Obsolete), but is no longer reasonably optimal for its intended purposes by reason of (i) material innovations, inventions or improvements in the design, manufacture, operation or production of comparable equipment, systems or facilities which render more efficient, more satisfactory or more technologically advanced service or (ii) business patterns or practices that require the modification or addition of equipment or facility.

Functionally obsolete means narrow clearances or sharp roadway approach angles that make passage difficult or hazardous, or with too few lanes for existing traffic needs.

Examples of Functionally obsolete in a sentence

• Eligible property, as defined by Act 381, is property that is primarily one or more of the following:• a “facility” as defined by Part 201 of P.A. 451 of 1994, as amended (contaminated);• Blighted (as determined by the local unit of government);• Functionally obsolete (as determined by the local assessor);• Historic resource• Other listed eligible property as defined by Act 381.

• Functionally obsolete bridges include those that have sub-standard geometric features such as narrow lanes, narrow shoulders, poor approach alignment or inadequate vertical under clearance.

• When it becomes known to NALMLS that a listing was withdrawn but was in fact sold, a fine will be imposed.

• Functionally obsolete bridges: old, using materials no longer in service today.

• Functionally obsolete means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity, changes in technology, deficiencies or super adequacies in design, or other similar factors that affect the property itself or the property's relationship with other surrounding property.

More Definitions of Functionally obsolete

Functionally obsolete means that term as defined in section 2 of the brownfield redevelopment financing act, 1996 PA 381, MCL 125.2652.

Functionally obsolete means that the property is unable to be used to adequately perform the

Functionally obsolete means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity,

Functionally obsolete means the classification of a highway structure indicating one or more geometric features of the structure are below the standard required for current traffic. The classification is based on criteria established by the Federal Highway Administration in the "Recording and Coding Guide for the Structure Inventory and Appraisal of the Nation's Bridges."

Functionally obsolete means that the property is

Functionally obsolete means that the property is unable

Functionally obsolete means, with respect to any FF&E or other facility, surface, structure or component of the Premises, that it is not dysfunctional (and thus not Physically Obsolete), but is no longer reasonably optimal for its intended purposes by reason of (i) material innovations, inventions or improvements in the design, manufacture, operation or production of comparable equipment, systems or facilities which render more efficient, more satisfactory or more technologically advanced service or (ii) business patterns or practices that require the modification or addition of equipment or facility.