Equipment purchased Clause Samples

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Equipment purchased using Grantor funds shall be made available for inspection during site visits, and upon request of Grantor as part of its grant monitoring and oversight responsibilities.
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Equipment purchased. Upon the terms, and subject to the conditions set forth in this Contract, Seller shall sell, transfer, assign, convey and deliver to Buyer, for the purchase price specified in paragraph 2, below, one (1) SUREBEAM x-ray food cold pasteurization sterilization system (the "System"). The System will conform in all respects to the Final specifications which will be completed and delivered to Buyer and be capable of meeting all USDA, and FDA specifications regarding food irradiation on or before the date established in paragraph 2.1 of this Contract for payment of the first installment payment in accordance with this Contract. Buyer's consent shall not be unreasonably delayed or withheld. Below is a summary of the preliminarily agreed upon System components. The Buyer and the Seller will work together after execution of this agreement and jointly prepare a detail System specifications list:
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Equipment purchased. Upon the terms, and subject to the conditions set forth in this Contract, Seller shall sell, transfer, assign, convey and deliver to Buyer, for the purchase price specified in (1) SUREBEAM x-ray food cold pasteurization sterilization system (the "System"). The System will conform in all respects to the Final specifications which will be completed and delivered to Buyer and be capable of meeting all USDA, and FDA specifications regarding food irradiation on or before the date established in paragraph 2.1 of this Contract for payment of the first installment payment in accordance with this Contract. Buyer's consent shall not be unreasonably delayed or withheld. Preliminary and Final Specifications are hereinafter referred to collectively as "Equipment Specifications" and will be jointly determined by Buyer and Seller: 1. Electron Accelerator System and Controls; 2. All required product conveyors; 3. Equipment assembly; 4. Equipment status and validation; 5. Dosimetry equipment: maintenance training and operating training; 6. All necessary x-ray targets; 7. Control system; 8. All required System software; and 9. All reasonable, customary Systems engineering. Seller shall also sell, transfer, assign, convey and deliver to Buyer all non-proprietary, non-confidential System documentation, including, without limitation, recommended spare parts list, service and maintenance schedules, as-built drawings and schematics, and operations, training, service and/or repair manuals (the "System Documentation").
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Equipment purchased. For all tangible, nonexpendable, personal property having a useful life of more than one year and having an acquisition cost of $500 or more per unit and which is acquired in whole or in part with funds provided under this Agreement, the Grantee must comply with the following requirements for a period of three (3) years, beginning on the acquisition date: A. Maintain records that include the following: i. A description of the property; ii. Manufacturer's serial number or other identification number; iii. Source of the property (Name of Manufacturer, if new, Name and address of seller if used); iv. Identification of the title holder; v. Acquisition date; vi. Cost of the property; and vii. Location of the property; B. A control system shall be developed and implemented to ensure adequate safeguards to prevent loss, damage, improper personal use or theft of the property. Any loss, damage, improper personal use or theft shall be investigated and fully documented and made a part of the official project records. C. Adequate maintenance procedures shall be developed and implemented to keep the property in good condition. D. These requirements are on-going and survive the expiration or termination of this Agreement and will remain in effect until the third (3rd) anniversary of the property’s acquisition date or until the property is properly disposed of in accordance with this Agreement and applicable state and local requirements, whichever date is earlier. E. Personal use of the equipment is not permitted.
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Related to Equipment purchased

  • EQUIPMENT PURCHASE This Schedule contemplates Lessor's acquisition of Equipment for lease to Lessee, either by one of the first three categories listed below or by providing Lessee with Equipment from the fourth category, in a value up to the Commitment Amount referred to on the face of this Schedule. If the Equipment acquired is of category (i), (ii) or (iii) below, the effectiveness of this Schedule as it relates to those items of Equipment is contingent upon Lessee's acknowledgment at the time Lessor acquires the Equipment that Lessee has either received or approved the relevant purchase documentation between vendor and Lessor for that Equipment. Lessor will finance only the acquisition of individual items of Equipment with a cost to Lessor of more than $500.00. (i) NEW ON-ORDER EQUIPMENT. Lessor will purchase new Equipment which is specifically approved by Lessor. (ii) SALE-LEASEBACK EQUIPMENT. Any in-place Equipment installed at Lessee's site and to which Lessee has clear title and ownership may be considered by Lessor for inclusion under this Lease (the "Sale-Leaseback Transaction"). Any request for Sale-Leaseback Transaction must be submitted to Lessor in writing (along with accompanying evidence of Lessee's Equipment ownership satisfactory to Lessor for all Equipment submitted) no later than the fifteenth day of the last month in each quarter and for equipment installed after the date hereof (except for the Equipment submitted on the second Sale- Leaseback Transaction) Lessor will not approve a Sale-Leaseback Transaction for Equipment which arrives ninety (90) days after the original purchase of the Equipment as evidenced by the invoice date. Further, the first Sale-Leaseback of Equipment will be placed on lease subject to: (1) Lessor prior approval of the Equipment; and (2) if approved, at Lessee's actual book value. The second Sale-Leaseback Transaction will be placed on lease subject to values established by Lessor based on the age of the Equipment. (iii) USED ON-ORDER EQUIPMENT. Lessor will purchase used Equipment which is obtained from a third party by Lessee for its use subject to Lessor's prior approval of the Equipment and at Lessor's appraised value for such used Equipment.

  • Equipment Purchases If this Agreement includes the purchase of equipment, this section is applicable. The JBE may, at its option, repair any damaged or replace any lost or stolen items and deduct the cost thereof from Contractor’s invoice to the JBE, or require Contractor to repair or replace any damaged, lost, or stolen equipment to the satisfaction of the JBE at no expense to the JBE. If a theft occurs, Contractor must file a police report immediately.

  • Subsequent Purchases After the Closing Date, until the Purchase and Sale Termination Date, each Receivable and the Related Rights generated by each Originator shall be, and shall be deemed to have been, sold or contributed, as applicable, by such Originator to the Buyer immediately (and without further action) upon the creation of such Receivable.

  • Agent Purchases The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect, provided, that (i) no such purchase or sales shall take place while a Placement Notice is in effect (except to the extent the Agent may engage in sales of Placement Shares purchased or deemed purchased from the Company as a “riskless principal” or in a similar capacity) and (ii) the Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.

  • Investment Purpose As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable (i) on account of interest on the Note, (ii) as a result of the events described in Sections 1.3 and 1.4(g) of the Note or (iii) in payment of the Standard Liquidated Damages Amount (as defined in Section 2(f) below) pursuant to this Agreement, such shares of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.