Obsolete Equipment means any machinery, equipment, furniture, apparatus, tools or implements or other similar property that may be defective or may have become worn out or obsolete or no longer used or useful in the operations of the Borrower or its Subsidiaries.
Obsolete Equipment means Equipment which is reasonably determined by a Borrower to be obsolete or unusable by such Borrower.
Obsolete Equipment means Equipment that has reached End of Support (EOS) according to the Vendor’s published statements.
Examples of Obsolete Equipment in a sentence
The Obsolete Equipment will be supported only during Business Hours, and no additional Obsolete Equipment will be installed or will receive Incident Management Services.
Obsolete Equipment: This pertains mainly to old elevators or elevator manufacturers that are no longer in business.
During Phase 1, all current levels of service will remain in place, and new installations will be undertaken only on the express agreement that these will be included in the withdrawal process at the end of the Initial Notice Period.During Phase 2 (the "Reduced Support Period"), Obsolete Equipment will be supported on a "labor only" basis, and Customer will be responsible for the provision of Spares.
In addition, any such written notice of objection must be accompanied within ten (10) Business Days by payment in full for the items of Initial Obsolete Equipment or Subsequent Obsolete Equipment which are not subject to such written notice of objection.
After 3 months of the Reduced Support Period, all formal support will be withdrawn on such Equipment.Notwithstanding the foregoing, for Cobranded Maintenance Services, if Spares are provided by Avaya for the Cobranded Maintenance Services, the Maintenance Services provided by Orange for any Obsolete Equipment (including Software) will be provided in accordance with Avaya’s policy for the relevant Equipment and Software.
More Definitions of Obsolete Equipment
Obsolete Equipment means vessels and other equipment, property or assets that, in the ordinary course of each of the Company’s and its Restricted Subsidiaries’ business as presently conducted, are damaged, obsolete, surplus, at the end of their useful life or no longer required or useful in the business, in each case as reasonably determined by the Company.
Obsolete Equipment means Equipment at the applicable Closing Date that is used exclusively for discontinued Product (as the term "discontinued" is determined in accordance with the Amended and Restated Master Contract Manufacturing Services Agreement).
Obsolete Equipment means equipment that cannot operate or do the job it was originally purchased for efficiently and economically;
Obsolete Equipment means (1) Equipment (i) that is no longer necessary for the operation of Tenant’s business at the Leased Premises or for the compliance of the Leased Premises with all Legal Requirements and Insurance Requirements (and does not need to be replaced with updated equipment to bring the Leased Premises in compliance with all Legal Requirements and Insurance Requirements) and (ii) the removal of which from the Leased Premises does not materially adversely affect the value or utility of the Leased Premises as a Facility or (2) Racking that is no longer necessary for the operation of Tenant’s business at the Leased Premises.
Obsolete Equipment means (a) Vessels and other Equipment that are damaged, obsolete or at the end of their useful life, (b) Real Estate and other assets (not including any Accounts, Inventory or Vessels) that are obsolete or no longer useful in the Ordinary Course of Business as reasonably determined by the Grantors and (c) Vessels and other Equipment that are surplus in the Ordinary Course of Business (provided, however, that such surplus Vessels and other Equipment under this clause (c) shall be limited to Vessels and other Equipment having a fair market value of $5,000,000 in the aggregate in any calendar year (plus any unused amounts from any prior calendar year up to $1,000,000) or $20,000,000 in the aggregate during the term of this Agreement; provided further, however, that the foregoing limitations shall not apply to such surplus Vessels and other Equipment under this clause (c), the proceeds of the sale or other Disposition of which are applied, within 180 days after the sale or other Disposition thereof, to the costs of replacement of such surplus Vessels and other Equipment or the cost of purchase or construction of other assets useful in the business of Grantors and their Subsidiaries).
Obsolete Equipment means (a) barges, towboats, vessels and other equipment that, in the ordinary course of each of the Loan Parties’ business as presently conducted, are damaged, obsolete or at the end of their useful life, (b) assets (not including any Accounts, Inventory, Vessels or Real Property) that are obsolete or no longer useful in the ordinary course of each of the Loan Parties’ business as presently conducted, in each case as reasonably determined by the Loan Parties and (c) barges, towboats, vessels and other equipment that are surplus in the ordinary course of each of the Loan Parties’ business as presently conducted (provided, however, that such surplus equipment under this clause (c) shall be limited to (i) surplus equipment with a value (as determined in good faith by the applicable Loan Party’s board of directors or analogous body) of $50,000,000 in the aggregate during the term of this Agreement; provided, however, that the foregoing limitations shall not apply to such surplus equipment under this clause (c), the proceeds of the sale or other disposition of which are applied, (x) from the Closing Date until the first Anniversary Date, within 360 days after the sale or other disposition thereof, or (y) at all times on or after the first Anniversary Date, within 180 days after the sale or other disposition thereof, to the costs of replacement of such surplus equipment or the cost of purchase or construction of other assets useful in the business of Borrowers and their Subsidiaries) and (ii) surplus equipment in an amount not to exceed $50,000,000 so long as the net proceeds received in connection with the sale or disposition of such surplus equipment is greater than or equal to 85% of the Net Forced Liquidation Value of such surplus equipment.
Obsolete Equipment means (a) barges, towboats, vessels and other equipment that, in the ordinary course of each of the Obligated Parties’ business as presently conducted, are damaged, obsolete or at the end of their useful life, (b) Real Estate and other assets (not including any Accounts, Inventory or Vessels) that are obsolete or no longer useful in the ordinary course of each of the Obligated Parties’ business as presently conducted, in each case as reasonably determined by the Obligated Parties and (c) barges, towboats, vessels and other equipment that are surplus in the ordinary course of each of the Obligated Parties’ business as presently conducted (provided, however, that such surplus equipment under this clause (c) shall be limited to $10,000,000 in the aggregate in any calendar year (plus any unused amounts from any prior calendar year up to $5,000,000) or $30,000,000 in the aggregate during the term of this Agreement; provided, further, however, that the foregoing limitations shall not apply to such surplus equipment under this clause (c), the proceeds of the sale or other disposition of which are applied, within 180 days after the sale or other disposition thereof, to the costs of replacement of such surplus equipment or the cost of purchase or construction of other assets useful in the business of Borrowers and their Subsidiaries).