Net Maintenance Lease definition

Net Maintenance Lease means any Lease identified as a “Net Maintenance” Lease.
Sample 1Sample 2Sample 3

Examples of Net Maintenance Lease in a sentence

  • Each Lease will be identified as either a Standard Maintenance Lease or a Net Maintenance Lease.

  • Under a Net Maintenance Lease, Customer shall, at Customer’s sole expense, maintain the Equipment in good operating order and in the same condition and appearance as noted on the Outbound Inspection (including, without limitation, preventive maintenance, emergency service and damage repairs and replacements), Normal Wear excepted.

  • Any Lease not expressly identified as a Standard Maintenance Lease or a Net Maintenance Lease will be deemed a Standard Maintenance Lease (subject to Section 7(c) below).

  • If Customer returns Net Maintenance Lease Equipment with a remaining brake pad depth of less than 100% of the Initial Pad Depth, Customer agrees to pay XxXxxxxx the Brake Wear Charge per drum for every 1/8th inch that the brake pad depth has decreased from the Initial Pad Depth.

  • Except as otherwise provided in the Lease or any Schedule thereto, Xxxxxxxx shall be solely responsible for all preventive maintenance servicing and repairs to any refrigeration unit attached to any Equipment, regardless of whether the Lease is identified as a Standard Maintenance Lease or a Net Maintenance Lease.

Related to Net Maintenance Lease

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Software Maintenance means the process of modifying software after delivery to correct faults, improve performance or other attributes, or adapt to a changed environment. (Reference ISO/IEC 14764:2006, as amended or superseded.) Software maintenance does not include any customization or configuration.

  • Monthly Maintenance Statement shall have the meaning set forth in Clause 19.6;

  • Maintenance Term means the period of time for which Customer has purchased Maintenance Services, as evidenced by the Purchase Order delivered by Customer in connection therewith, together with all renewals effected in accordance with Section 4 of this Agreement.

  • Maintenance agreement means a document recorded in the land records that acts as a property deed restriction, and which provides for long-term maintenance of stormwater management practices.

  • Finance Lease means any lease or hire purchase contract which would, in accordance with the Accounting Principles, be treated as a finance or capital lease.