Common use of Material Disposition Clause in Contracts

Material Disposition. 3.3.1 The OPERATOR may at any time dispose of excess MATERIAL as it deems fit except that where it wishes to dispose of items not included for disposal in the BUDGET and which were acquired at a cost exceeding US$100,000 or where the book (accounting value) exceeds US$50,000 it will first obtain approval for such disposal from the relevant SUB-COMMITTE.