Rotable Spare Parts definition

Rotable Spare Parts means parts that wear over time and can be economically restored to a serviceable condition and, in the normal course of operations, can be repeatedly reconditioned to a fully serviceable condition over a period approximating the life of the flight equipment to which they are related. Examples include avionics units, landing gears, auxiliary power units and major engine accessories.
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Rotable Spare Parts means a Spare Part that wears over time and can be repeatedly restored to a serviceable condition over a period approximating the life of the flight equipment to which it relates.
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Rotable Spare Parts means those Spare Parts which can be (i) economically restored to a serviceable condition, (ii) in the normal course of operations, can be repeatedly rehabilitated to a fully serviceable condition, and (iii) are either serialized or have the capability to be serialized.
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Examples of Rotable Spare Parts in a sentence

  • Current and Quotable: Requiring Inventory Accounting for Rotable Spare Parts, Letters to IRS Office of Associate Chief Counsel, June 13, 2003, 99 TAX NOTES1711 (2003) http://www.utexas.edu/law/faculty/calvinjohnson/current.pdf .

  • Sell, lease or otherwise dispose of any of the Collateral except for dispositions of the Rotable Spare Parts for so long as no Default, Event of Default or Overadvance Condition then exists, or, after giving effect to such disposition, will exist.

  • Rotable Spare Parts The AICPA recommends clarifying the rule in Prop.

  • Borrower shall furnish to Lender reports of its Rotable Spare Parts in form and detail satisfactory to Lender at such times as Lender may request, but at least once each month, not later than the twentieth (20th) day of such month for Rotable Spare Parts of Borrower as of the end of the preceding month.

  • If the Customer breaches the restrictions under item (ii) through (v) of Section 9.2, or if the Customer is a direct competitor of the Company, the Company may terminate this Agreement immediately without any formal demand.

  • Borrower shall maintain and pay for insurance upon all of the Rotable Spare Parts wherever located and with respect to Borrower's business, covering casualty, hazard, public liability and such other risks in such amounts, with such deductibles and with such insurance companies as are reasonably satisfactory to Lender.

  • Notwithstanding anything herein to the contrary, all Rotable Spare Parts and Repairable Spare Parts that are Pledged Spare Parts and, to the extent customary, all Expendable Spare Parts and Life Limited Parts that are Pledged Spare Parts, located at Spare Parts Locations other than as excluded above, shall have a current and valid serviceable tag and shall be in compliance with such tag, in each case in compliance with applicable FAA regulations.

  • Said financing statements may contain a generic description of collateral that is broader than the collateral description contained in the security agreement set forth herein except with respect to Collateral constituting Rotable Spare Parts.

  • Borrower shall conduct a physical inventory of its Rotable Spare Parts no less frequently than annually and shall provide to Lender a report based on each such physical inventory promptly thereafter, together with such supporting information as Lender shall request.

  • Spare Engines, Expendable and Rotable Spare Parts, and Tooling; Records.

Related to Rotable Spare Parts

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