Capital Assets and Usage Records Clause Samples

The 'Capital Assets and Usage Records' clause defines the requirements for tracking and documenting the use and status of significant physical or financial assets owned or managed under the agreement. It typically mandates that parties maintain accurate records of capital assets, such as equipment, vehicles, or property, including details like acquisition dates, usage logs, maintenance history, and current condition. This clause ensures transparency and accountability in asset management, helping to prevent loss, misuse, or disputes over asset ownership and condition.
Capital Assets and Usage Records. The PERFORMING PARTY shall authorize NCTCOG, NCTCOG's funding agency, or their designees to inspect, with or without notice, equipment, vehicles, engines and/or technologies purchased by the PERFORMING PARTY with funds provided for under this Agreement.
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Related to Capital Assets and Usage Records

  • Net Tangible Assets Purchaser shall have at least $5,000,001 of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act) remaining after the closing of the Purchaser Share Redemption.

  • Tangible Assets The Target owns or leases all buildings, machinery, equipment, and other tangible assets necessary for the conduct of its business as presently conducted and as presently proposed to be conducted. Each such tangible asset is free from defects (patent and latent), has been maintained in accordance with normal industry practice, is in good operating condition and repair (subject to normal wear and tear), and is suitable for the purposes for which it presently is used and presently is proposed to be used.

  • Total Assets Based on total assets at period end. Used primarily to allocate costs associated with the oversight and safeguarding of corporate assets. This would include services provided by financial management and certain finance functions, among others. Also used when the services provided are driven by the relative size and complexity of the System Companies and there is no functional relationship between the services and any other available allocation formula. Based on the number of bank accounts at period end. Used for the allocation of costs associated with daily cash management activities.

  • Title to Tangible Assets The Company and its Subsidiaries have good title to their properties and assets and good title to all their leasehold estates, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge, other than or resulting from taxes which have not yet become delinquent and minor liens and encumbrances which do not in any case materially detract from the value of the property subject thereto or materially impair the operations of the Company and its Subsidiaries and which have not arisen otherwise than in the ordinary course of business.

  • Fixed Assets 12 2.10. Change in Financial Condition and Assets...........................................12 2.11.