LSTD definition
LSTD means the standard value of labour (calculated at the standard labour rate of the Business as at the time of Completion) in pounds sterling required to return any item of Rotable Inventory In Non-Serviceable Condition to Serviceable Condition as identified in the WIP Report as at the Valuation Date; LTD means the value of labour (calculated at the standard labour rate of the Business as at the time of Completion) in pounds sterling attributable to any item of Rotable Inventory as shown in the WIP Report as at the Valuation Date provided that such amount is not greater than LSTD;