lease of equipment definition

lease of equipment means an agreement whereby a motor carrier obtains equipment owned by another for use by the motor carrier in the exercise of its operating authority;
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lease of equipment means an agreement whereby a motor carrier obtains equipment owned by another person for use by the motor carrier in the exercise of its operating authority, but does not include an agreement between a motor carrier and its contract driver;
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lease of equipment means an agreement whereby a motor carrier obtains equipment owned by another person for
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Examples of lease of equipment in a sentence

  • Any provision of the Master Lease to the contrary notwithstanding, Lessor and Lessee acknowledge and agree that the Lease of Equipment under this Schedule is and is intended to be a transaction which creates a security interest in personal property in favor of Lessor, and shall be construed to constitute a lease intended as security for all commercial law and federal income and state tax purposes.

  • No Borrower shall modify or agree to modify any material term of any Lease of Equipment financed or refinanced hereunder to which it is a party without the written consent of Agent, which consent will not be unreasonably withheld.

  • The term of this Lease of Equipment shall be for a period of six (6) months (the "Initial Term"), commencing on the Effective Date, and continuing thereafter in subsequent six (6) month periods (“Subsequent Terms” and collectively, with the Initial Term, the “Term”), terminable on at least sixty (60) days' written notice prior to the expiration of the then current Term.

  • Application of Funds; Purchase and Lease of Equipment.................................

  • Articles of Incorporation and By-laws of Lessee, and resolutions of the Board of Directors, each certified by the Secretary or an Assistant Secretary duly authorizing each Lease of Equipment hereunder and the execution, delivery and performance of this Agreement and each Schedule if Lessee is a corporation; B.

  • Each Lease Schedule shall constitute a separate, distinct and independent Lease of Equipment and contractual obligation of Lessee.

  • If the Schedule provides for an extension of the Lease upon expiration of its term, then Lessee may extend the Lease of Equipment, or of any item thereof, described in such Schedule from year to year by written notice to Lessor given at least 30 days prior to the expiration of the last year the Lease has been so extended.

  • The “Advance Notice Period” shall be at least ninety (90) days, but not more than 180 days, prior to Lease Termination (as defined in the Master Lease) of Equipment Schedule No. 01 to this Lease Line Schedule.

  • Notwithstanding the foregoing, the Lender shall reimburse SPE for one-half of the costs of the Uniform Commercial Code financing statements obtained pursuant to Section 5.3(c) relating to each Lease of Equipment aggregating $10,000 or more.

  • The original Lease Term for the Lease of Equipment under this Schedule consist of: (i) an “Interim Term” (if any) beginning on the Acceptance Date, and continuing through and including the day preceding the Base Date; and (ii) a “Base Term” of thirty-six (36) months, beginning on May 4, 2016 (the “Base Date”).


More Definitions of lease of equipment

lease of equipment. All references to the term "Supplement" shall mean "Schedule" for all purposes hereinafter.
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Related to lease of equipment

  • Rental Equipment means the equipment identified on the Service Agreement and Order Schedule or otherwise notified to you in writing that we will rent to you as part of our provision of the Services and which you will return to us after expiry or termination of the Agreement, subject to the provisions of this Agreement.

  • Building Equipment shall have the meaning set forth in the Security Instrument.

  • Item of Equipment means each item of the Equipment.

  • Leased Equipment means the equipment which may include but not limited to modem provided by TM on lease basis to enable usage of the Service by the Customer, as may be decided by TM from time to time at its sole discretion.

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Leased Aircraft Has the meaning specified in the third recital to this Trust Supplement.

  • CONSTRUCTION EQUIPMENT means all appliances and equipment of whatsoever nature for the use in or for the execution, completion operation or maintenance of the work unless intended to form part of permanent work.

  • Lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.

  • Leased space means individual storage space at a self-service storage facility which is rented to an occupant pursuant to a rental agreement.

  • Farm equipment means equipment used directly for farming

  • Fixed Equipment means any property affixed in any way to the Licensed Premises existing at the time Notice to Proceed is given, whose removal would damage the Licensed Premises.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by Company or any Company Subsidiary, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the lease for such Leased Real Property.

  • Aircraft means any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the earth’s surface;

  • business premises means premises on which a business is conducted, premises rented in whole or in part to others, or held for rental.

  • Installation Site means the site at which the Product is originally installed.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Installation Works means, as the context so requires,

  • New equipment means equipment for which, by the cut-off date, neither of the following events has occurred:

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • Operating Equipment means furniture, furnishings, special lighting fixtures, carpeting, draperies, decorations or other special finishing work, signs, appliances and trade fixtures and equipment that is furnished, installed or used by the Contractor in its operations on the Airport. It does not include Fixed Improvements, or repair or maintenance of Operating Equipment or Fixed Improvements or displays or decorations that are of a seasonal or temporary promotional nature.

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Personal Property shall have the meaning set forth in the granting clause of the Mortgage.

  • Capital Equipment means machinery and equipment purchased or leased, and used in this state by the purchaser or lessee primarily for manufacturing, fabricating, mining, or refining tangible personal property to be sold ultimately at retail if the machinery and equipment are essential to the integrated production process of manufacturing, fabricating, mining, or refining. Capital equipment also includes machinery and equipment used primarily to electronically transmit results retrieved by a customer of an online computerized data retrieval system.

  • Service Equipment means any equipment, Software, systems, cabling and facilities provided by or on behalf of Verizon and used to facilitate provision of the Services at a Customer Site. Ownership of the Service Equipment does not pass to Customer. Service Equipment does not include Verizon Facilities.