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.

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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

• You will receive compensation on the basis of the value of replacement by equivalent objects of the same kind, Obsolescence and Wear and Tear.

• The Owner Lessor may irrevocably elect to retain, rather than sell, the Undivided Interest by giving notice to the Facility Lessee at least 90 days prior to the Obsolescence Termination Date.

• The Contractor shall submit Product Recall, DMSMS, Obsolescence Identification & Vendor Change Notices in accordance with CDRL A027.

• Delivery dates for any Last PO shall be limited to three (3) months from the Obsolescence Effective Date.

• Buyer may purchase any obsolete Product and (to the extent Datalogic has authorized Buyer to purchase spare parts) any of its spare parts and accessories by placing a non-cancellable last buy order (“Last PO”) until the Obsolescence Effective Date occurs.

More Definitions of Obsolescence

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.

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.