Property or Equipment definition

Property or Equipment means any interest in any kind of property, equipment, or asset, whether real, personal, or mixed, or tangible or intangible.

Examples of Property or Equipment in a sentence

This provision specifies requirements when Government Furnished Property or Equipment (GFP or GFE) is either provided or purchased in accomplishing the Work under this Subcontract with the care and custody being consistent with the current Federal Acquisition Regulation (FAR) clause 52.245-1.

ACKNOWLEDGMENT AND EXECUTION The undersigned Lessor hereby leases to the undersigned Lessee, and the Lessee acknowledges delivery to it in good condition of the Property or Equipment described on this ULR.

Each liability policy (A) shall be primary without right of contribution from any other insurance which is carried by the Lessor with respect to its interest as such in the Property or Equipment and (B) shall expressly provide that all of the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a separate policy covering each insured.

The Lessee hereby assumes all risk of loss of or damage to Property or Equipment, however caused.

Title to and ownership of any Property or Equipment shall at all times remain in the Lessor and at no time become vested in the Lessee except in accordance with an express provision of this Lease.