Surplus Asset definition

Surplus Asset means a Township asset that has served its useful life and is no longer required for the purpose for which it was originally obtained;
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Surplus Asset means a Town asset that has served its useful life and is no longer required for the purpose for which it was originally acquired or cannot be used otherwise by the Town;
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Surplus Asset means a physical asset which has a nominal value or has lost its value through depreciation or wear and tear or redundancy of the asset within the Town.
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Examples of Surplus Asset in a sentence

  • This will outline the case for consideration by Powys County Council’s Surplus Asset Board.

  • On or before November 15, 2007, Companies shall consummate the Surplus Asset Sale and Companies shall remit to Laurus the Net Cash Proceeds thereof in an amount of not less than $250,000 which amount shall be applied by Laurus to the Obligations in accordance with the Financing Agreements and this Agreement.

  • On or before January 20, 2008, EFTI shall remit to Laurus, in addition to any other mandatory prepayment required pursuant to this Agreement, including, without limitation, in connection with the Haines City Property Refinancing and Surplus Asset Sale, an amount ▇▇ ▇▇t less than $1,000,000, which amount shall be applied by Laurus to the Obligations in accordance with the Financing Agreements and this Agreement.