{"component": "clause", "props": {"groups": [{"snippet": "For purposes of this Agreement, a fixed asset is any physical item, excluding real property, having a cost in excess of $300.00 and a usable life of three years or more. Contractor's annual report to City shall include invoices and receipts of payment for all fixed assets purchased. If at any time Contractor discontinues the Program, at any time during or after the Agreement period, all fixed assets purchased or acquired by Contractor having a cost in excess of $300.00 and usable life of one year or more, revert back to City.", "snippet_links": [{"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [0, 30]}, {"key": "a-fixed", "type": "clause", "offset": [32, 39]}, {"key": "real-property", "type": "clause", "offset": [78, 91]}, {"key": "having-a", "type": "definition", "offset": [93, 101]}, {"key": "years-or-more", "type": "clause", "offset": [155, 168]}, {"key": "city-shall", "type": "clause", "offset": [200, 210]}, {"key": "invoices-and-receipts", "type": "clause", "offset": [219, 240]}, {"key": "payment-for-all", "type": "clause", "offset": [244, 259]}, {"key": "assets-purchased", "type": "clause", "offset": [266, 282]}, {"key": "at-any-time", "type": "clause", "offset": [287, 298]}, {"key": "the-program", "type": "clause", "offset": [323, 334]}, {"key": "the-agreement-period", "type": "clause", "offset": [364, 384]}, {"key": "by-contractor", "type": "clause", "offset": [425, 438]}, {"key": "year-or-more", "type": "clause", "offset": [497, 509]}, {"key": "revert-back", "type": "clause", "offset": [511, 522]}], "size": 12, "samples": [{"hash": "hE6pjbBJZwT", "uri": "/contracts/hE6pjbBJZwT#fixed-assets", "label": "Grant Agreement", "score": 31.9993076324, "published": true}, {"hash": "gqFvMNc5dlr", "uri": "/contracts/gqFvMNc5dlr#fixed-assets", "label": "Grant Agreement", "score": 31.1572628021, "published": true}, {"hash": "lvpDLNAfedP", "uri": "/contracts/lvpDLNAfedP#fixed-assets", "label": "Grant Agreement", "score": 29.2603759766, "published": true}], "hash": "68b546d7934adb7cf3296fc6c777a9ea", "id": 1}, {"snippet": "6.1 If a Guarantor Company grants security over its material fixed assets it shall be free to deal with those assets in the ordinary course of its business and otherwise as permitted under any Finance Document until an Enforcement Event.\n6.2 No notice whether to third parties or by attaching a notice to the fixed assets shall be prepared or given until an Enforcement Event.\n6.3 If required under local law, and consistent with local standard market practice, security over fixed assets will be registered subject to the general principles set out in these Agreed Security Principles.", "snippet_links": [{"key": "ordinary-course", "type": "definition", "offset": [124, 139]}, {"key": "finance-document", "type": "definition", "offset": [193, 209]}, {"key": "enforcement-event", "type": "definition", "offset": [219, 236]}, {"key": "no-notice", "type": "definition", "offset": [242, 251]}, {"key": "to-third-parties", "type": "clause", "offset": [260, 276]}, {"key": "the-fixed", "type": "clause", "offset": [305, 314]}, {"key": "be-prepared", "type": "clause", "offset": [328, 339]}, {"key": "if-required", "type": "definition", "offset": [381, 392]}, {"key": "local-law", "type": "clause", 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"5f608248284f43546b9bee372a5fe886", "id": 3}, {"snippet": "Seller has good and marketable title to the Fixed Assets, free and clear of all encumbrances, claims, charges, security interests, or liens, if any, which do not materially detract from the value of or interfere with the use of the Fixed Assets.", "snippet_links": [{"key": "the-fixed", "type": "clause", "offset": [40, 49]}, {"key": "free-and-clear", "type": "clause", "offset": [58, 72]}, {"key": "security-interests", "type": "definition", "offset": [111, 129]}, {"key": "the-value", "type": "clause", "offset": [186, 195]}], "size": 8, "samples": [{"hash": "lONngMHN6aI", "uri": "/contracts/lONngMHN6aI#fixed-assets", "label": "Purchase and Assumption Agreement (Capital City Bank Group Inc)", "score": 18.0, "published": true}, {"hash": "cXlWgqB5ifk", "uri": "/contracts/cXlWgqB5ifk#fixed-assets", "label": "Purchase and Assumption Agreement (Sun Bancorp Inc /Nj/)", "score": 18.0, "published": true}, {"hash": "5fmTHfrCc3L", "uri": "/contracts/5fmTHfrCc3L#fixed-assets", "label": "Purchase and Assumption Agreement (First Bancorp /Nc/)", "score": 18.0, "published": true}], "hash": "a83d16016d879140c98934a06dc3b12a", "id": 10}, {"snippet": "Grantee shall, and shall cause its Subrecipients to, maintain policies and procedures for the management of property and equipment that comply with all requirements of the applicable Code of Federal Regulations, 2 CFR Subtitle B with guidance at 2 CFR Part 200, and specific requirements of the source of funds. These regulations shall apply to all equipment purchased with Agency funding, regardless of source of funds.", "snippet_links": [{"key": "policies-and-procedures", "type": "definition", "offset": [62, 85]}, {"key": "property-and-equipment", "type": "clause", "offset": [108, 130]}, {"key": "comply-with", "type": "definition", "offset": [136, 147]}, {"key": "code-of-federal-regulations", "type": "clause", "offset": [183, 210]}, {"key": "cfr-part-200", "type": "clause", "offset": [248, 260]}, {"key": "specific-requirements", "type": "clause", "offset": [266, 287]}, {"key": "source-of-funds", "type": "clause", "offset": [295, 310]}, {"key": "these-regulations", "type": "definition", "offset": [312, 329]}, {"key": "equipment-purchased", "type": "clause", "offset": [349, 368]}], "size": 9, "samples": [{"hash": "7YDDIRCaBJv", "uri": "/contracts/7YDDIRCaBJv#fixed-assets", "label": "Grant Agreement", "score": 26.6098556519, "published": true}, {"hash": "535W5SjW8MJ", "uri": "/contracts/535W5SjW8MJ#fixed-assets", "label": "Grant Agreement", "score": 25.0629711151, "published": true}, {"hash": "gYh0XMpPYx0", "uri": "/contracts/gYh0XMpPYx0#fixed-assets", "label": "Grant Agreement", "score": 24.9123878479, "published": true}], "hash": "57d0a2122778856b24d88eab40e68259", "id": 5}, {"snippet": "15 2.11 Leases............................................................................................15 2.12 Change in Financial Condition and Assets..........................................................16 2.13", "snippet_links": [{"key": "change-in-financial-condition-and-assets", "type": "clause", "offset": [114, 154]}], "size": 11, "samples": [{"hash": "3AFyJYhQhZy", "uri": "/contracts/3AFyJYhQhZy#fixed-assets", "label": "Merger Agreement (Casella Waste Systems Inc)", "score": 18.0, "published": true}], "hash": "fa9682234bcddc148a3fd2f8e046ede3", "id": 2}, {"snippet": "The value of all of the fixed assets of the Company as shown in the Accounts is at cost thereof less depreciation deducted from time to time in a consistent manner and there has been no revaluation of such fixed assets since their acquisition.", "snippet_links": [{"key": "the-value", "type": "clause", "offset": [0, 9]}, {"key": "the-fixed", "type": "clause", "offset": [20, 29]}, {"key": "assets-of-the-company", "type": "clause", "offset": [30, 51]}, {"key": "as-shown", "type": "definition", "offset": [52, 60]}, {"key": "in-the-accounts", "type": "clause", "offset": [61, 76]}, {"key": "at-cost", "type": "clause", "offset": [80, 87]}, {"key": "from-time-to-time", "type": "clause", "offset": [123, 140]}], "size": 9, "samples": [{"hash": "l1Hd2qiHFg", "uri": "/contracts/l1Hd2qiHFg#fixed-assets", "label": "Agreement for the Sale and Purchase of Shares (Big Flower Holdings Inc/)", "score": 18.0, "published": true}, {"hash": "awfdXUZ23Zx", "uri": "/contracts/awfdXUZ23Zx#fixed-assets", "label": "Agreement for the Sale and Purchase of Shares (Armor Holdings Inc)", "score": 18.0, "published": true}, {"hash": "8fnLJzR85Ng", "uri": "/contracts/8fnLJzR85Ng#fixed-assets", "label": "Agreement for the Sale and Purchase of Shares (Big Flower Holdings Inc/)", "score": 18.0, "published": true}], "hash": "ff5aeda2d7b51934ce839e58b4ce723b", "id": 4}, {"snippet": "All tangible personal property, plant and equipment including, without limitation, buildings, structures, generators, turbines, gas supply pipelines and equipment, fixtures, machinery and equipment, maintenance machinery and equipment, vehicles and rolling stock, office furniture and office equipment, other furnishings, leasehold improvements and construction-in-process, and all tangible personal property set forth on Schedule 1.1(b) (Fixed Assets) (collectively, the \"Fixed Assets\").", "snippet_links": [{"key": "tangible-personal-property", "type": "clause", "offset": [4, 30]}, {"key": "plant-and-equipment", "type": "clause", "offset": [32, 51]}, {"key": "without-limitation", "type": "clause", "offset": [63, 81]}, {"key": "gas-supply", "type": "definition", "offset": [128, 138]}, {"key": "machinery-and-equipment", "type": "definition", "offset": [174, 197]}, {"key": "rolling-stock", "type": "definition", "offset": [249, 262]}, {"key": "office-furniture", "type": "definition", "offset": [264, 280]}, {"key": "office-equipment", "type": "clause", "offset": [285, 301]}, {"key": "improvements-and-construction", "type": "clause", "offset": [332, 361]}, {"key": "on-schedule", "type": "definition", "offset": [419, 430]}], "size": 9, "samples": [{"hash": "iWAKntRZ1TD", "uri": "/contracts/iWAKntRZ1TD#fixed-assets", "label": "Asset Transfer Agreement (Union Electric Co)", "score": 19.0, "published": true}, {"hash": "8e1P8B25jfx", "uri": "/contracts/8e1P8B25jfx#fixed-assets", "label": "Asset Transfer Agreement (Union Electric Co)", "score": 19.0, "published": true}, {"hash": "beV3QGNTceK", "uri": "/contracts/beV3QGNTceK#fixed-assets", "label": "Asset Transfer Agreement (Ameren Corp)", "score": 18.0, "published": true}], "hash": "f6e9fe26f57579af5fb7d1849626b17b", "id": 6}, {"snippet": "Schedule 2.10 attached hereto sets forth a true, correct and complete list of all Fixed Assets as of September 30, 1996, including a description and the book value thereof. Schedule 2.10, as updated pursuant to Subsection 7.9 hereof, shall set forth a true, correct and complete list of all Fixed Assets as of the Closing Date, including a description and valuation thereof. All of the Fixed Assets are in good operating condition and repair, normal wear and tear excepted, are currently used by the Seller in the ordinary course of business and in the production of products of the Seller and normal maintenance has been consistently performed with respect to such Fixed Assets.", "snippet_links": [{"key": "complete-list", "type": "clause", "offset": [61, 74]}, {"key": "book-value", "type": "clause", "offset": [153, 163]}, {"key": "pursuant-to-subsection", "type": "clause", "offset": [199, 221]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [304, 326]}, {"key": "the-fixed", "type": "clause", "offset": [382, 391]}, {"key": "condition-and-repair", "type": "clause", "offset": [421, 441]}, {"key": "normal-wear-and-tear", "type": "definition", "offset": [443, 463]}, {"key": "by-the-seller", "type": "clause", "offset": [493, 506]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [507, 541]}, {"key": "production-of-products", "type": "clause", "offset": [553, 575]}, {"key": "of-the-seller", "type": "clause", "offset": [576, 589]}, {"key": "normal-maintenance", "type": "definition", "offset": [594, 612]}, {"key": "with-respect-to", "type": "clause", "offset": [645, 660]}], "size": 9, "samples": [{"hash": "jBwrai6F3h0", "uri": "/contracts/jBwrai6F3h0#fixed-assets", "label": "Asset Purchase Agreement (Choices Entertainment Corp)", "score": 18.0, "published": true}], "hash": "0853533225cea7d0fa7de6f445939726", "id": 7}, {"snippet": "Accounting for real estate transactions, maintaining the fixed asset records and processing payments for property taxes.", "snippet_links": [{"key": "accounting-for", "type": "clause", "offset": [0, 14]}, {"key": "real-estate-transactions", "type": "clause", "offset": [15, 39]}, {"key": "asset-records", "type": "definition", "offset": [63, 76]}, {"key": "payments-for", "type": "clause", "offset": [92, 104]}, {"key": "property-taxes", "type": "clause", "offset": [105, 119]}], "size": 8, "samples": [{"hash": "6WjCnIDUjm9", "uri": "/contracts/6WjCnIDUjm9#fixed-assets", "label": "Administrative Services Agreement (VOYA RETIREMENT INSURANCE & ANNUITY Co)", "score": 32.1827507019, "published": true}, {"hash": "lz6bZHPPRVj", "uri": "/contracts/lz6bZHPPRVj#fixed-assets", "label": "Finance Shared Services Center Services Agreement (Golden American Life Insurance Co /Ny/)", "score": 16.0, "published": true}, {"hash": "lxmwAmhv6HP", "uri": "/contracts/lxmwAmhv6HP#fixed-assets", "label": "Services Agreement (Ing Insurance Co  of America)", "score": 16.0, "published": true}], "hash": "a977c38abbbdbdbc8eca9df87917eea8", "id": 8}, {"snippet": "Title to all fixed assets purchased with COUNTY funds designated by the COUNTY for that purpose under this Contract shall remain with COUNTY. A \u201cFixed Asset\u201d is defined hereunder as any equipment costing Five Thousand Dollars ($5,000) or more, with a useful life of more than one year. Such assets shall be maintained and repaired by CONTRACTOR during the term of this Contract. CONTRACTOR shall provide an accounting of such assets at the termination or expiration of this Contract and shall deliver same to COUNTY upon COUNTY\u2019s written request. CONTRACTOR shall have the option upon the expiration or termination of the Contract to acquire such assets at a price to be mutually agreed upon by COUNTY and CONTRACTOR.", "snippet_links": [{"key": "title-to-all", "type": "clause", "offset": [0, 12]}, {"key": "assets-purchased", "type": "clause", "offset": [19, 35]}, {"key": "funds-designated", "type": "clause", "offset": [48, 64]}, {"key": "by-the-county", "type": "clause", "offset": [65, 78]}, {"key": "under-this-contract", "type": "clause", "offset": [96, 115]}, {"key": "five-thousand", "type": "clause", "offset": [204, 217]}, {"key": "useful-life", "type": "definition", "offset": [251, 262]}, {"key": "one-year", "type": "definition", "offset": [276, 284]}, {"key": "by-contractor", "type": "clause", "offset": [331, 344]}, {"key": "term-of-this-contract", "type": "clause", "offset": [356, 377]}, {"key": "contractor-shall-provide", "type": "clause", "offset": [379, 403]}, {"key": "expiration-of", "type": "clause", "offset": [455, 468]}, {"key": "written-request", "type": "clause", "offset": [530, 545]}, {"key": "the-option", "type": "clause", "offset": [569, 579]}, {"key": "termination-of-the-contract", "type": "clause", "offset": [603, 630]}, {"key": "to-acquire", "type": "definition", "offset": [631, 641]}, {"key": "mutually-agreed", "type": "clause", "offset": [671, 686]}, {"key": "county-and-contractor", "type": "clause", "offset": [695, 716]}], "size": 8, "samples": [{"hash": "9ukfbY2Q4z5", "uri": "/contracts/9ukfbY2Q4z5#fixed-assets", "label": "Assessment and Intervention Services Contract", "score": 26.1704311371, "published": true}, {"hash": "17lrbj7DbTn", "uri": "/contracts/17lrbj7DbTn#fixed-assets", "label": "Urine Sample Collection for Drug and Alcohol Testing Services Contract", "score": 25.3825263977, "published": true}, {"hash": "fmNlSZMDIku", "uri": "/contracts/fmNlSZMDIku#fixed-assets", "label": "Subscription and Support Services Contract", "score": 22.9353179932, "published": true}], "hash": "46a09a5edaceddc57c9b6216d42750f0", "id": 9}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVmaXhlZC1hc3NldHMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "Fixed Assets", "children": [["insurance", "Insurance"], ["disposal-requiring-prior-approval", "Disposal Requiring Prior Approval"], ["loaned-equipment-property-disposition", "Loaned Equipment / Property Disposition"], ["equipment", "Equipment"], ["", ""]], "size": 1055, "parents": [["purchase-and-sale-of-assets", "Purchase and Sale of Assets"], ["representations-and-warranties-of-seller", "REPRESENTATIONS AND WARRANTIES OF SELLER"], ["miscellaneous", "Miscellaneous"], ["transfer-of-assets", "Transfer of Assets"], ["representations-and-warranties", "Representations and Warranties"]], "id": "fixed-assets", "related": [["leased-assets", "Leased Assets", "Leased Assets"], ["acquired-assets", "Acquired Assets", "Acquired Assets"], ["purchased-assets", "Purchased Assets", "Purchased Assets"], ["maintenance-of-total-unencumbered-assets", "Maintenance of Total Unencumbered Assets", "Maintenance of Total Unencumbered Assets"], ["excluded-assets", "Excluded Assets", "Excluded Assets"]], "related_snippets": [], "updated": "2026-03-07T04:27:53+00:00", "also_ask": ["What key definitions and asset schedules must be included to avoid ambiguity?", "How can the clause be structured to maximize protection against asset misappropriation?", "What are the most common pitfalls in fixed asset clauses that lead to unenforceability?", "How do fixed asset provisions differ across major jurisdictions or industry standards?", "What evidence is typically required in court to prove breach or compliance with a fixed assets clause?"], "drafting_tip": "Define 'Fixed Assets' precisely to avoid ambiguity; specify ownership and maintenance obligations to ensure enforceability; list excluded items to prevent disputes.", "explanation": "The Fixed Assets clause defines how tangible, long-term assets such as equipment, machinery, or property are identified, managed, and accounted for within an agreement. It typically outlines the responsibilities for maintaining, insuring, and recording these assets, and may specify procedures for their transfer, depreciation, or disposal. This clause ensures that both parties have a clear understanding of asset ownership and management, reducing the risk of disputes over valuable property and supporting accurate financial reporting."}, "json": true, "cursor": ""}}