Obsolete property definition

Obsolete property means commercial property or commercial housing property, that is 1 or more of the following:
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Obsolete property any property of a Company or any of its Subsidiaries which is obsolete, outdated or worn out or the useful life of which has substantially ended, in each case in the good faith determination of such Company or any applicable Subsidiary.
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Obsolete property any property of the Borrower or any of its Subsidiaries which is obsolete, outdated or worn out or the useful life of which has ended, in each case in the good faith determination of the Borrower or any applicable Subsidiary.
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Examples of Obsolete property in a sentence

  • Obsolete property may be traded for credit on the purchase of new property.

  • Obsolete property -- restoration or sale -- removal from chapter.

  • Obsolete property is property for which there are no current plans for use in their intended purpose.

  • Obsolete property, plant and equipment:❑ Remove obsolete property, plant and equipment from the accounting records.

  • Era Report series: European Centre for Medium Range Weather Forecasts (ECWMF) (Vol.

  • Obsolete property is property for which there are no current plans for use in its intended purpose (i.e. it no longer provides service to NASA operations).


More Definitions of Obsolete property

Obsolete property means any District commodities, equipment, materials, or supplies that are obsolete, unused, not needed for a public purpose, or ineffective for current use.
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Related to Obsolete property

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Personal Property means all machinery, equipment, furniture, furnishings, movable walls or partitions, computers (and all associated software), trade fixtures and other personal property (but excluding consumable inventory and supplies owned by Tenant) used in connection with the Leased Property, together with all replacements and alterations thereof and additions thereto, except items, if any, included within the definition of Fixtures or Improvements.

  • New property means (i) the assessed value, after final