For vector-valued functions of the form $\vec{r}(t)=x(t)\hat{i}+y(t)\hat{j}=(x(t),y(t))$, I learned that the derivative of this function is another vector valued function, $\vec{r'}(t)=\lim_{h\to0}\frac{(\vec{r}(t+h)-\vec{r}(t))}{h}=\lim_{h\to0}\frac{x(t+h)-x(t)}{h}\hat{i}+\lim_{h\to0}\frac{y(t+h)-y(t)}{h}\hat{j}=(x'(t),y'(t))$.
Is the limit of a vector-valued function as the parameter approaches some value defined to be the limit of each of its components as the parameter approaches that value, or is there a definition for these limits that's similar to the epsilon-delta definition of limits that's used for single variable functions?