Rental Ready definition

Rental Ready means that all required maintenance has been ------------ performed and that the equipment does not require any repairs in excess of $100,000 in the aggregate for the Company and all Related Entities.

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Rental Ready means that each item of rental equipment is fully operable and available for rental to customers, excluding items which are undergoing maintenance and repairs in the ordinary course of business and items scheduled to be sold without violation of clause (iii) of Section 4.1(i).

Rental Ready means with respect to any Rental Asset, that such asset is of a quality and condition that it can be rented and used by a customer without the need for any pre-rental or other maintenance or repairs, except for: (a) ordinary preventative or other maintenance of the type that is performed in the Ordinary Course of Business before rental to a customer; and (b) pre-rental repairs or maintenance of the type and nature performed by Seller in the Ordinary Course of Business.

Examples of Rental Ready in a sentence

The Rental and Non-Rental Asset Listing attached as Schedule 4.6 sets forth the asset description, make, model and original cost of all Equipment which, on the Closing Date, will be fully operable, accounted for and Rental Ready.
For purposes of this -------------- Agreement, an item of equipment is "Rental Ready" only if it is free of deferred maintenance and it does not require any repairs in excess of $250 per item for items with a cost of less than $5,000 or $500 per item for items with a cost greater than or equal to $5,000.
For purposes of this Agreement, an item of Equipment is "Rental Ready" only if all required maintenance has been performed and it does not require any repairs in excess of $200 per item for those items having a net book value of $5,000 or greater and $100 per item for those items having a net book value less than $5,000 per item.
The aggregate amount, if any, calculated pursuant to Section 2.08 hereof to render the Lease Units described in Section 2.08 Rental Ready and the vehicles and trailers described in Section 2.08 Road Worthy shall be deducted from the Closing Payment.
For purposes of this Agreement, an item of equipment is "Rental Ready" only if all required maintenance has been performed and it does not require any repairs in excess of $100 per item for items with a cost of less than $5,000 or $200 per item for items with a cost greater than or equal to $5,000.
Except as set forth on Schedule 3.10(b), all Rental Assets are Rental Ready.
The parties agree that the items of Equipment listed in Schedule 2.2(b)(ii) shall not give rise to an Equipment Adjustment solely by reason of their failure to be Rental Ready.
Each item of Equipment owned or leased by each Seller is merchantable, fit for the purpose for which it was procured, is usable in the Ordinary Course of Business, is in good working order and condition (normal wear and tear excepted) or, in the case of any item of Rental Equipment, each such item of Rental Equipment is Rental Ready, is in conformity with all applicable Legal Requirements, express and implied warranties, product and service specifications and quality standards customary to the Business.
The Purchase Price shall be ---------------------------------- subject to reduction for any equipment reported on the Rental and Non-Rental Asset Listing that is missing, non-operating or not Rental Ready on October 31, 1997, and is in excess of $50,000 in original cost.
Subject to adjustment on and after the Closing Date in accordance with Section 2.4.2, all of the ------------- Equipment listed on Schedule 4.13 is, and on the Closing Date will be, fully ------------- operable, accounted for and Rental Ready.

More Definitions of Rental Ready

Rental Ready means, with respect to each item of equipment held by the Company for rental, that all required maintenance (consistent with industry practices in the Company's and Subsidiaries' industry) has been performed with respect to such item and that such item does not require repairs (other than as part of routine maintenance).

Rental Ready means, with respect to each item of equipment held by Seller for rental that is an Acquired Asset, that all required maintenance has been performed with respect to such item and that such item does not require repairs, other than regular or routine repairs or scheduled maintenance costing, in the aggregate, less than $300 per item. Notwithstanding the foregoing, any Acquired Asset that is in use by an independent third party pursuant to a bona-fide rental arrangement with Seller as of the Closing Date shall be deemed to be Rental Ready.

Rental Ready means that each unit of the Lease Fleet is in good condition, without deferred maintenance and without leaks of any material kind (a leak will not be material if it occurs in the ordinary course of business and if the leak is in the process of being repaired in a timely manner consistent with the normal turnaround time of the Facilities); the determination by Buyer concerning whether a Lease Fleet unit is “Rental Ready” shall be made without regard to cosmetic or non-substantive changes to each Lease Fleet unit.

Rental Ready means, with respect to each item of Rental Equipment and each item of Equipment that is an Acquired Asset and is Related to the Business (including without limitation trucks, trailers, forklifts, machine shop and repair shop equipment, tools, office equipment and similar items), whether or not held for rental, that all maintenance has been performed in the Ordinary Course of Business with respect to such item and that such item does not require repairs; provided, however, that notwithstanding the foregoing, any Acquired Asset that is actually being rented by an independent third party pursuant to a bona fide arms-length rental agreement for which the customer actually is being charged will be deemed Rental Ready.