Service life means the period of usefulness of a tangible capital asset (or group of assets) to its current owner. The period may be expressed in units of time or output. The estimated service life of a tangible capital asset (or group of assets) is a current forecast of its service life and is the period over which depreciation cost is to be assigned.
Service life means the period be- tween the date when operating prop- erty is placed in service and the date of its retirement.
Examples of Service life in a sentence
The amount of credits or payments, as applicable, due MTA for salvage and Expired Service Life Value shall be determined by mutual agreement based upon Utility's applicable books, records, documents and other data of Utility.
Where MTA performs work hereunder, MTA shall receive compensation from Utility (by credit or payments as provided below) for salvage and Expired Service Life Value of Utility Facilities as applicable, as well as for Costs incurred by MTA for Betterments, and for any.
MTA shall receive a credit against work performed by Utility under this Agreement at MTA.'s expense, for salvage, Betterments and Expired Service Life Value of Utility.
More Definitions of Service life
Service life. The life in years during which the cylinders may safely be used in accordance with the standard service conditions.
Service life means the life in years during which the cylinders may safely be used in accordance with the standard service conditions.
Service life means the time be- tween the date electric plant is includ- ible in electric plant in service, or elec- tric plant leased to others, and the date of its retirement. If depreciation is accounted for on a production basis rather than on a time basis, then serv- ice life should be measured in terms of the appropriate unit of production.
Service life means the time between the date utility plant is includible in utility plant in service, or utility plant leased to others, and the date of its retirement. If depreciation is accounted for on a production basis rather than on a time basis, then service life should be measured in terms of the appropriate unit of production.
Service life means the time be- tween the date gas plant is includible in gas plant in service, or gas plant leased to others, and the date of its re- tirement. If depreciation is accounted for on a production basis rather than on a time basis, then service life should be measured in terms of the appro- priate unit of production.
Service life means the period be- tween the date that property is placed in service and the date of its retire- ment.
Service life means the period of time that a respirator, filter or sorbent, or other respiratory equipment provides adequate protection to the wearer.