Examlex
A licensee is the party to whom a license is granted.
Ordinary Maintenance
Routine or regular maintenance work performed to keep equipment, buildings, or machinery in operational condition.
Asset Improvements
Expenditures made to enhance the value, usefulness, or productivity of an asset over its original state.
Extraordinary Repairs
Significant expenditures that extend the useful life of an asset, improve its efficiency, or restore its capacity, distinguished from routine maintenance.
Grading
The process of assessing or classifying the quality, size, or performance of different items or individuals.
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