Obsolescence definition

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 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 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.

• Macey, Administrative Agency Obsolescence and Interest Group Formation: A Case Study of the SEC at Sixty, 15 CARDOZO L.

• 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.

More Definitions of Obsolescence

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 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 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. (AS DEFINED BELOW IN CLAUSE C9.2) and the loss of the Customer's competitive position through the provision of regular technology working parties which will directly assist in the Product roll out and custom Research and Development commitments for the Customer. These working parties will consist of the Consortium and technical experts from both the Supplier and the Supplier's agents (Bell Northern Research). The Supplier proposes thax xxe first such working party be established during the 1st calendar quarter 1993 and thereafter on a calendar quarterly basis. Where such system developments will be of benefit to the Customer, the Supplier will offer to the Customer an appropriate credit to upgrade the installed systems. Such appropriate credits will be determined on a case by case basis and will take into consideration a mutually agreed percentage of the audited depreciated book value of the equipment being impacted.

Obsolescence means the loss of value due to changes in technology, not physical loss or damage, whichthat render the item no longer useful.

Obsolescence means a diminishing of a property’s desirability and usefulness brought about by either functional inadequacies or super-adequacies inherent in the property itself, or adverse economic factors external to the property. (2011 Real Property Assessment Manual and Guidelines Book 2, Glossary, pg. 16)