Rotable Parts Sample Clauses

The 'Rotable Parts' clause defines the terms and conditions related to aircraft components that can be repeatedly restored to a fully serviceable condition and reused. Typically, this clause outlines the responsibilities for maintenance, replacement, and tracking of such parts, specifying procedures for removal, repair, and reinstallation. Its core function is to ensure clarity and accountability in the management of valuable, reusable aircraft components, thereby minimizing disputes and ensuring operational reliability.
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Rotable Parts. GE may issue compatible parts from GE's Rotable Parts inventory to replace Copa's parts requiring repair. Copa agrees to accept compatible Rotable Parts that are updated to the then-current Service Bulletin baseline used by the majority of GE's customers. Repairable parts removed from the Engine and replaced by GE's Rotable Parts inventory will be repaired by GE or a third party, at GE's option. Any Rotable Part which replaces a Copa part shall meet or exceed the modification standard of the Copa part.
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Rotable Parts. The Initial Determinations for Rotable Parts will be based on the assumptions set forth below, and the Asset Values to be calculated at each of the Closing Determination and Final Determination for Rotable Parts will be determined as set forth below. i. Such Rotable Part is complete, with all parts and accessories (based on the specified configuration) attached and with all applicable Required Documents included. If such Rotable Part is missing parts or Required Documents and Seller cannot replace such parts or Required Documents, then Buyer may exclude such Rotable Part from the Included Assets. If Buyer elects to exclude such item, then the Aggregate Asset Value at the Closing Determination and the Final Determination shall not include the Initial Determination with respect to such Rotable Part. ii. Unless otherwise specified on the Tangible Asset List, such Rotable Part is in a certain condition which is specified in the “STANDARDIZED COND” column (“3. Rotables”) by one of the following codes in accordance with Seller’s maintenance program (each a “Condition Code”): (a) “NE” meaning new condition; (b) “OH” meaning overhauled condition; (c) “SV” meaning serviceable condition; (d) “AR” meaning as removed; or (e) “BER” meaning beyond economic repair. Each Rotable Part has a set value by part number specified in the “MASTERPARTNUMBER” column (“3. Rotables”) depending on the Condition Code of the applicable Rotable Part. For purposes of the Initial Determination, the value of each respective part is based on its respective Condition Code as provided in the “VAL EA” column (“3. Rotables”). Each Rotable Part will have all applicable records and documentation in accordance with Seller’s maintenance program to confirm the Condition Code. If as of the Closing Determination, such Rotable Part has changed its applicable Condition Code in accordance with Seller’s maintenance program from the Condition Code as of the Initial Determination, then, for purposes of the Closing Determination the Asset Value of such Rotable Part will be adjusted to reflect its then current Condition Code as reflected in the relevant “VAL EA” column (“3. Rotables”), provided, however, that if no price is specified in the Tangible Asset List for such Rotable Part applicable to such then-current Condition Code, then Buyer may elect to include such Rotable Part as a Reappraisal Item. The process described in the immediately preceding sentences shall be repeated for the purposes of the Final De...
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Rotable Parts. Supplier may issue compatible parts from Supplier’s Rotable Parts inventory to replace Customer’s parts requiring repair. Customer agrees to accept compatible Rotable Parts that are updated to the then-current Service Bulletin baseline used by the majority of Supplier’s Customers. Repairable parts removed from an Aircraft and replaced by Supplier’s Rotable Parts inventory will be repaired by Supplier or a third party, at Supplier ‘s option.
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Rotable Parts. GE may issue compatible parts from GE’s Rotable Parts inventory to replace Customer’s parts requiring repair. Customer agrees to accept compatible Rotable Parts that that meets or exceeds the Customer Repair Specification requirements. Repairable parts removed from the Engine and replaced by GE’s Rotable Parts inventory will be repaired by GE or a third party, at GE’s option, and at GE’s expense when in conjunction with a covered MCPH Shop Visit.
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Related to Rotable Parts

  • Spare Parts 52.1 The Supplier may be required to provide any or all of the following materials, notifications, and information pertaining to spare parts manufactured or distributed by the Supplier. (a) Such spare parts as the Purchaser may choose to purchase from the Supplier, provided that this election will not relieve the supplier of any warranty obligations under the contract; and (b) In the event of termination of production of the spare parts: (c) Advance notification to the Purchaser of the impending termination. (d) Time to permit the Purchase to procure needed requirement; and following such termination, furnishing at no cost to the Purchaser, the blueprints, drawings, and specifications of the spare parts, if requested.

  • Replacement Parts Replacement parts for goods purchased by Buyer are for the purpose of this Section defined as “Parts” (and are also considered “goods” under this Order). Unless specified otherwise by Buyer in writing, Supplier shall provide Parts (or upon Buyer’s written consent, an alternative replacement part that provides the same form, fit and function as the Part(s)) for a period of twenty (20) years after production of the goods (into which the applicable Parts are incorporated) ceases. Supplier shall continue to supply such Parts past the twenty (20) year period if Buyer orders at least twenty (20) Parts per year during such twenty-year period. The prices for any Parts purchased in the first two (2) years of the twenty-year period shall not exceed those prices in effect at the time production of the goods ceases, and no set up charges shall be permitted by Supplier or paid by ▇▇▇▇▇ during this two-year period. Thereafter, the prices for Parts shall be negotiated based on Supplier’s actual cost of production of such Parts plus any special packaging costs. No minimum order requirements shall apply unless the parties mutually agree in advance. After the end of the twenty-year period, Supplier shall continue to maintain in good working condition all Supplier-owned tooling required to produce the Parts and shall not dispose of such tooling without offering Buyer the right of first refusal to purchase such tooling.

  • REPAIRED OR REPLACED PARTS / COMPONENTS Where the Contractor is required to repair, replace or substitute Product or parts or components of the Product under the Contract, the repaired, replaced or substituted Products shall be subject to all terms and conditions for new parts and components set forth in the Contract including Warranties, as set forth in the Additional Warranties Clause herein. Replaced or repaired Product or parts and components of such Product shall be new and shall, if available, be replaced by the original manufacturer’s component or part. Remanufactured parts or components meeting new Product standards may be permitted by the Commissioner or Authorized User. Before installation, all proposed substitutes for the original manufacturer’s installed parts or components must be approved by the Authorized User. The part or component shall be equal to or of better quality than the original part or component being replaced.

  • Spares The Contractor shall ensure that the Contractor’s operational base at the Site is at all times stocked with spare parts for the Contractor's Equipment that meet the requirements of the Contract, together with all necessary or desirable packing and marking for that purpose and that such spare parts are sufficient to ensure that the Work /services can continue in the event of failure of the Contractor’s Equipment.

  • Parts In the case of loss of or damage to any part of the insured property whether scheduled or unscheduled, consisting, when complete for use, of several parts, the Insurer is not liable for more than the insured value of the part lost or damaged, including the cost of installation.