Service life definition

Service life means the expected period of viable, technical and economic life of an asset;

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 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.

Examples of Service life in a sentence

• Service life of product extends and frequently experienced problems will be reduced if it is cleaned at regular intervals.

• Mechanical Life shall be 20000 operations and Service life at rated load for In below 32A shall be 20000 and for In above 32A shall be 10000 operations.

• If the age of the insured under a Na- tional Service life insurance policy has been understated, the amount of the insurance payable under the policy shall be such exact amount as the pre- mium paid would have purchased at the correct age; if overstated, the ex- cess of premiums paid shall be refunded without interest.

• Service life is defined as the number of years before major restoration is necessary given minimal maintenance to the structure during its life.

• If the insured by notice in writing to the Department of Veterans Affairs during his lifetime has provided that a designated beneficiary shall be entitled to the proceeds of National Service life insurance only if such beneficiary shall survive him for such period (not more than 30 days), as specified by the in- sured, no right to the insurance shall vest as to such beneficiary during that period.

More Definitions of Service life

Service life means the period be- tween the date when operating prop- erty is placed in service and the date of its retirement.

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 between the date electric plant is includible in electric plant in service, or electric 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 period be- tween the date that property is placed in service and the date of its retire- ment.

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 of time that a respirator, filter or sorbent, or other respiratory equipment provides adequate protection to the wearer.

Service life means the total period during which a municipal infrastructure asset is in use or is available to be used; (“durée de vie”)