Item of Equipment definition

Item of Equipment means each item of the Equipment.

Item of Equipment means a commercial unit of such property which in commercial usage is treated as a single whole, division of which materially impairs its character or value on the market or in use, and includes each functionally integrated and separately marketable group or unit of Equipment and may be a single article (such as a machine) or a set of articles (such as a suite of furniture or a line of machinery).

Item of Equipment means each functionally integrated and separately marketable group or unit of Equipment subject to this Lease. Each Lease Schedule shall constitute a separate, distinct and independent lease of Equipment and contractual obligation of Lessee. References to "the Lease," "this Lease" or "any Lease" shall mean and refer to any Lease Schedule which incorporates the terms of this Master Lease, together with all exhibits, addenda, schedules, certificates, riders and other documents and instruments executed and delivered in connection with such Lease Schedule or this Master Lease, all as the same may be amended or modified from time to time. The Equipment is to be delivered and installed at the location specified or referred to in the applicable Lease Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease upon Lessor's receipt of an Acceptance Certificate with respect to such Equipment, executed by Lessee after receipt of all other documentation required by Lessor with respect to such Equipment. Lessor shall not be liable or responsible for any failure or delay in the delivery of the Equipment to Lessee for whatever reason. As used in this Lease, "Acquisition Cost" shall mean (a) with respect to all Equipment subject to a Lease Schedule, the amount set forth as the Acquisition Cost in the Lease Schedule and the Acceptance Certificate applicable to such Equipment; and (b) with respect to any item of Equipment, the total amount of all vendor or seller invoices (including Lessee invoices, if any) for such item of Equipment, together with all acquisition fees and costs of delivery, installation, testing and related services, accessories, supplies or attachments procured or financed by Lessor from vendors or suppliers thereof (including items provided by Lessee) relating or allocable to such item of Equipment ("Related Expenses"). As used in this Lease with respect to any Equipment, the terms "Acceptance Date," "Rental Payment(s)," "Rental Payment Date(s)," "Rental Payment Numbers," "Rental Payment Commencement Date," "Lease Term" and "Lease Term Commencement Date" shall have the meanings and values assigned to them in the Lease Schedule and the Acceptance Certificate applicable to such Equipment.

Examples of Item of Equipment in a sentence

Notwithstanding the foregoing, Borrower may sell any Item of Equipment to a third party provided that Borrower prepays the applicable Loan in full in accordance with the terms of Section 1.5 hereof, including any Prepayment Premium that may be due, and Lender receives such full prepayment in immediately available funds within three (3) Business Days of Borrower’s receipt of such sale proceeds.
Lender shall not release any Lien on the applicable Item of Equipment until receipt of the mandatory prepayment in immediately available funds.
Borrower will not accept delivery of any Item of Equipment until the earlier of (1) the Conversion Date for such Item of Equipment, or (2) voluntary prepayment of all Obligations of Borrower under the related Interim Note and Interim Loan Schedule pursuant to Section 1.5 or 2.4(C) hereof.
The principal balance of each Term Note shall be equal to the least of (a) the sum of all Interim Advances made by Lender to Borrower under the applicable Interim Note, including the Final Interim Advance; (b) ***** Dollars ($*****); or (c) Eighty-Five percent (85%) of the Supplier’s total Purchase Price for such Item of Equipment as set forth in the Purchase Agreement (such lesser amount being hereinafter referred to as the “Converted Principal”).
Lxxxxx’s commitment to make the Loans under this Master Agreement and other Transaction Documents shall terminate upon the earliest of (A) the Interim Note Maturity Date for the last Item of Equipment for which an Interim Advance is made; (B) the Final Advance Deadline; or (C) the date Lender or Borrower terminates this Master Agreement pursuant to any term set forth herein.

More Definitions of Item of Equipment

Item of Equipment or “Item” means individually or collectively, as the context requires, the Aircraft, the Airframe and any of the Engines, any Landing Gear, the APU and any of the Parts, whether or not installed in or attached to the Aircraft or the Airframe.

Item of Equipment means (i) each railcar listed by the Company's road numbers and reporting marks in an Indenture Supplement executed and delivered under the Indenture; and (ii) any and all Parts incorporated or installed in or attached to such and any and all Parts removed from such railcar. The term "Items of Equipment" also shall mean, as of any date of determination, all Items of Equipment then subject to the Lien of the Indenture.

Item of Equipment or “Item” means any of the items of Equipment separately identified on any of the Schedules of Equipment attached to the Equipment Agreement Supplements currently made a part of the Equipment Agreement.

Item of Equipment means a “commercial unit” as defined and described in Article 2A of the UCC, and includes each functionally integrated and separately marketable group or unit of Equipment.

Item of Equipment means each item of the Equipment

Item of Equipment means each item of the Equipment. "Liability" shall have the meaning set forth in Section 18 hereof.

Item of Equipment means each functionally integrated and separately marketable group or unit of Equipment subject to a Lease. Each Lease shall constitute a separate, distinct and independent lease of Equipment and contractual obligation of Lessee. References to “the Lease,” “this Lease,” “any Lease,” “hereof” or “hereunder” shall mean and refer to any Lease (which incorporates these Standard Terms & Conditions), together with all exhibits, addenda, schedules, certificates, riders and instruments executed and delivered in connection with such Lease, all as the same may be amended or modified from time to time. The Equipment is to be delivered and installed at the location specified or referred to in the applicable Lease. The Equipment shall be deemed to have been accepted by Lessee for all purposes under the Lease as of the date of Lessor's acceptance of an inspection form with respect to such Equipment, executed by Lessee or its agent after receipt of all other documentation required by Lessor with respect to such Equipment. As used in this Lease with respect to any Equipment, the terms “Acceptance Date,” “Rental Payment(s),” “Rental Payment Date(s),” and “Lease Term” shall have the meanings and values assigned to them in the Lease applicable to such Equipment.

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