Obsolescence definition

Obsolescence means the reduction in value of property that occurs through use, technological improvements, passage of time, changes in market values, and physical deterioration or destruction.

Obsolescence means a loss in value due to factors outside the property lines of the subject property that adversely affect the usability and value of the subject property or its actual or potential income.

Obsolescence means the discontinuation of the requirement for any Product as a result of engineering or manufacturing change, which has rendered such Product no longer usable in the production of the Program Airplane or any Derivative.

Examples of Obsolescence in a sentence

• Obsolescence, destruction, theft or breakdowns of our major plants or machineries may significantly increase our machineries purchase cost and the depreciation of our plants and machineries, as well as change the way our management estimates the useful life of our plants and machineries.

• Obsolescence is also established when inventory items can no longer be utilised.

• Obsolescence is based on the physical condition of inventory items.

• Bidder is to indicate the methodology on how the Bidder intends to undertake Active Obsolescence Management through life cycle of equipment which would include upgradation of system/ subsystem/ units on completion of its fair service life.

• Obsolescence, destruction, theft or breakdowns of our major plants or equipment may significantly increase our equipment purchase cost and the depreciation of our plants and equipment, as well as change the way our management estimates the useful life of our plants and equipment.

More Definitions of Obsolescence

Obsolescence means a diminishing of a property’s desirability and usefulness brought about by either functional inadequacies or overadequacies inherent in the property itself, or adverse economic factors external to the property.

Obsolescence means that an items is out of production and there is a demand.

Obsolescence means the discontinuation of desirability, availability and/or usefulness of a Component in the production or support of the Aircraft and/ or its related Components and systems caused by new inventions, technological evolution, changes in design, improvement of production processes or external factors such as regulatory issues and environmental restrictions;

Obsolescence means that an area or facility may be determined obsolete during the Term of Public Use if (1) reasonable maintenance and repairs are not sufficient to keep the facility or equipment operating; (2) changing needs dictate a change in the type of facilities or equipment provided; (3) operating practices dictate a change in the type of facilities or equipment required; or (4) the facility or equipment is destroyed by fire, natural disaster, or vandalism. Declaring the facility obsolete means that the PROJECT SPONSOR receives a waiver of the replacement requirements. No later than 90 days after a facility or equipment is taken out of public use, the PROJECT SPONSOR may request a waiver of repayment or replacement requirements in writing. A determination of obsolescence may be made at the sole discretion of the

Obsolescence. MEANS WHEN SUPPLIER IMPOSES THE NEED FOR A PRODUCT OR PORTION OF A PRODUCT TO BE UPGRADED OR REPLACED THROUGH THE RELEASE OF A SOFTWARE UPGRADE WHICH IS NO LONGER COMPATIBLE WITH THE EXISTING PRODUCT.

Obsolescence means the discontinuation of availability or usefulness of a Component in the production or support of the Aircraft.

Obsolescence means when Goods contain components or materials which are generally no longer commercially available in regular markets or when Goods have become technically impractical to manufacture.