Substitute Equipment definition

Substitute Equipment is defined in Section 4.14 of the Sale and Servicing Agreement.

Substitute Equipment means, as to any item of Hardware or Software subject to a Lease, a substantially equivalent or better item of Hardware or Software having equal or greater capabilities and equal or greater Fair Market Value manufactured or licensed by the same manufacturer or licensor as such item of Hardware or Software subject to a Lease. The determination of whether any item of Equipment is substantially equivalent or better than an item of Equipment subject to a Lease shall be based on all relevant facts and circumstances, but shall minimally require, in the case of a computer, that each of processor, hard-drive, random access memory and CD ROM drive, if applicable, be equivalent or better.

Substitute Equipment means a substantially equivalent or better item of hardware or software having equal or greater capabilities and equal or greater fair market value manufactured or licensed by the same manufacturer or licensor as the item of hardware or software which it is to replace under this Agreement. At a minimum, in the case of a computer, each of the processor, hard-drive, random access memory and CD ROM drive, if applicable, must be equivalent or better. Lessee acknowledges and agrees that Substitute Equipment is Lessor’s property.

Examples of Substitute Equipment in a sentence

• Under this method, called Substitute Equipment, the owner is paid the cost of the new equipment less the proceeds of the sale of the old equipment as above.

• If the contractor is proposing an alternate product or equipment, the contractor must submit page 42 entitled “Application for Acceptance of Substitute Equipment and/or Material” at the time of bid for consideration.

• Substitute Equipment: If Contractor provides substitute equipment acceptable to The University of Wisconsin System on or before the delivery date specified in the order, liquidated damages shall not apply to the equipment for which substitute equipment was provided.

• The Member shall return the Substitute Equipment after formatting in accordance with the procedure manual included with the Substitute Equipment.

• Member shall bear all risk for any damage, loss or theft that occurs to the Substitute Equipment during the loan period until returned to SONY (including in the course of delivery back to SONY if Member does not arrange collection by SONY).

More Definitions of Substitute Equipment

Substitute Equipment has the meaning set forth in the definition of “Technology Exchange Option” set forth in this Section 1.1.

Substitute Equipment means the Equipment pledged to the Indenture Trustee on each Substitute Transfer Date.

Substitute Equipment means furniture, equipment, trade fixtures, appliances and other tangible personal property substituted for the Equipment located at a Mortgaged Premises in accordance with the requirements of Section 10, together with all rights and privileges associated therewith. For purposes of clarity, where items of equipment located on two or more parcels of real estate comprise the Substitute Equipment, such items of equipment shall be aggregated and deemed to constitute the Substitute Equipment for all purposes of this Agreement.

Substitute Equipment means equipment, trade fixtures, furniture, furnishings and appliances owned by Debtor, located at a Substitute Premises and substituted for Equipment in accordance with the requirements of Section 13.

Substitute Equipment means equipment substituted for Equipment in accordance with the requirements of Section 12 hereof.

Substitute Equipment. With respect to any Trust, (i) means any Aircraft of a type specified in this Agreement and, at the election of the Company, substituted prior to the applicable Cut-off Date, if any, pursuant to the terms of this Agreement and (ii) means any Spare Engine of a type specified in this Agreement and, at the election of the Company, substituted prior to the applicable Cut-off Date, if any, pursuant to the terms of this Agreement.

Substitute Equipment means Equipment for the time being substituted for the Equipment under the provision of clause 4 hereof.