Item of Equipment definition

Item of Equipment means each item of the Equipment.

Item of Equipment means a commercial unit of such property which in commercial usage is treated as a single whole, division of which materially impairs its character or value on the market or in use, and includes each functionally integrated and separately marketable group or unit of Equipment and may be a single article (such as a machine) or a set of articles (such as a suite of furniture or a line of machinery).

Item of Equipment means each functionally integrated and separately marketable group or unit of Equipment subject to this Lease. Each Lease Schedule shall constitute a separate, distinct and independent lease of Equipment and contractual obligation of Lessee. References to "the Lease," "this Lease" or "any Lease" shall mean and refer to any Lease Schedule which incorporates the terms of this Master Lease, together with all exhibits, addenda, schedules, certificates, riders and other documents and instruments executed and delivered in connection with such Lease Schedule or this Master Lease, all as the same may be amended or modified from time to time. The Equipment is to be delivered and installed at the location specified or referred to in the applicable Lease Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease upon Lessor's receipt of an Acceptance Certificate with respect to such Equipment, executed by Lessee after receipt of all other documentation required by Lessor with respect to such Equipment. Lessor shall not be liable or responsible for any failure or delay in the delivery of the Equipment to Lessee for whatever reason. As used in this Lease, "Acquisition Cost" shall mean (a) with respect to all Equipment subject to a Lease Schedule, the amount set forth as the Acquisition Cost in the Lease Schedule and the Acceptance Certificate applicable to such Equipment; and (b) with respect to any item of Equipment, the total amount of all vendor or seller invoices (including Lessee invoices, if any) for such item of Equipment, together with all acquisition fees and costs of delivery, installation, testing and related services, accessories, supplies or attachments procured or financed by Lessor from vendors or suppliers thereof (including items provided by Lessee) relating or allocable to such item of Equipment ("Related Expenses"). As used in this Lease with respect to any Equipment, the terms "Acceptance Date," "Rental Payment(s)," "Rental Payment Date(s)," "Rental Payment Numbers," "Rental Payment Commencement Date," "Lease Term" and "Lease Term Commencement Date" shall have the meanings and values assigned to them in the Lease Schedule and the Acceptance Certificate applicable to such Equipment.

Examples of Item of Equipment in a sentence

• All tires shall be matched on each Item of Equipment by the same type and tread design, original size, and manufacturer, and have a minimum of 12/32 inch of remaining tread depth on original or first time only recapped casings without flat or bald spots, cupping, dry rot, exposed cord or cuts in the side-wall.

• All such improvements that are not Non-Severable Improvements shall be removed by Lessee prior to the return of the Item of Equipment hereunder or such Improvements shall also become the sole and absolute property of Lessor without any further payment by Lessor to Lessee and shall be free and clear of all liens and encumbrances whatsoever.

• Lessee shall repair all damage to any Item of Equipment caused by the removal of any Improvement so as to restore such Item of Equipment to the same condition which existed prior to the installation and as required by this Lease.

• Lessee has made the selection of each Item of Equipment and the manufacturer and/or supplier thereof based on its own judgment and expressly disclaims any reliance upon any statements or representations made by Xxxxxx.

• If a trailer tracking unit is installed on an Item of Equipment, Lessee is permitted, on a non-exclusive, non-transferable and limited basis, to use the tracking unit and related communication services solely for the purpose of monitoring the Equipment.

More Definitions of Item of Equipment

Item of Equipment means (i) each railcar listed by the Company's road numbers and reporting marks in an Indenture Supplement executed and delivered under the Indenture; and (ii) any and all Parts incorporated or installed in or attached to such and any and all Parts removed from such railcar. The term "Items of Equipment" also shall mean, as of any date of determination, all Items of Equipment then subject to the Lien of the Indenture.

Item of Equipment or “Item” means individually or collectively, as the context requires, the Aircraft, the Airframe and any of the Engines, any Landing Gear, the APU and any of the Parts, whether or not installed in or attached to the Aircraft or the Airframe.

Item of Equipment or “Item” means any of the items of Equipment separately identified on any of the Schedules of Equipment attached to the Equipment Agreement Supplements currently made a part of the Equipment Agreement.

Item of Equipment means each item of the Equipment

Item of Equipment means a “commercial unit” as defined and described in Article 2A of the UCC, and includes each functionally integrated and separately marketable group or unit of Equipment.

Item of Equipment means each item of the Equipment. "Liability" shall have the meaning set forth in Section 18 hereof.

Item of Equipment means a particular item of Equipment, as the context may require, and "Items of Equipment" shall mean collectively each item of Equipment.