Alterations and Attachments. Lessee may make or have made on its behalf alterations in and additions or attachments to the Equipment which are necessary or desirable for the maintenance or improvement or the equipment, all at Lessee's sole cost and expense, provided that no such alteration, addition or attachment reduces the value or impairs the capabilities or efficiency of the Equipment or violates the provisions of Revenue Procedure 79-48 or any successor rule, regulation or Revenue Procedure. Lessor shall, at Lessee's sole expense, execute and deliver from time to time such instruments, including but not limited to orders for new equipment, components or modifications, and do such other matters and things as may be necessary or appropriate to Lessee's rights under this Paragraph 14. Any part, attachment, appurtenance or accessory constituting a physical part of the Equipment which cannot be readily removed without impairing the value or utility of the Equipment and shall be deemed to be an accession to the Equipment and shall from that time be deemed part of the Equipment, with title thereto vesting in Lessor. Such alterations, additions or attachments shall not modify the term of the lease of the Equipment with respect to which such alterations, additions or attachments are made unless agreed to by Lessor and Lessee. If Lessee shall affix the Equipment to any real property, the Equipment shall remain personalty and shall not become part of the realty.
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Samples: Lease Order Terms and Conditions (American Income Partners v a LTD Partnership), Lease Order Terms and Conditions (American Income Fund I-B)
Alterations and Attachments. Lessee may make or have made on its behalf alterations in and additions or attachments to the Equipment which are necessary or desirable for the maintenance or improvement or of the equipmentEquipment, all at Lessee's sole cost and expense, provided that no such alteration, addition or attachment reduces the value or impairs the capabilities or efficiency of the Equipment or violates the provisions of Revenue Procedure 79-48 or any successor rule, regulation or Revenue Procedure. Lessor shall, at Lessee's sole expense, execute and deliver from time to time such instruments, including but not limited to orders for new equipment, components or modifications, and do such other matters and things as may be necessary or appropriate to Lessee's rights under this Paragraph 14. Any part, attachment, appurtenance or accessory constituting a physical part of the Equipment which cannot be readily removed without impairing the value or utility of the Equipment and shall be deemed to be an accession to the Equipment and shall from that time be deemed part of the Equipment, with title thereto vesting in Lessor. Such alterations, additions or attachments shall not modify the term of the lease of the Equipment with respect to which such alterations, additions or attachments are made unless agreed to by Lessor and Lessee. If Lessee shall affix the Equipment to any real property, the Equipment shall remain personalty and shall not become part of the realty.
Appears in 1 contract
Samples: Lease Order Terms and Conditions (American Income Partners v C LTD Partnership)
Alterations and Attachments. Upon prior written notice to Lessor, Lessee may make may, at its expense, add or have made install any Upgrade (as hereinafter defined) on its behalf alterations in and additions or attachments to the Equipment which are necessary leased hereunder. For purposes hereof and all documents relating hereto, the term "Upgrade" shall mean: (i) any accessory, equipment or desirable for device manufactured or sold by the maintenance or improvement or the equipment, all at Lessee's sole cost and expense, provided that no such alteration, addition or attachment reduces the value or impairs the capabilities or efficiency manufacturer of the Equipment or violates the provisions of Revenue Procedure 79-48 or any successor rule, regulation or Revenue Procedure. Lessor shall, at Lessee's sole expense, execute and deliver from time to time such instruments, including but not limited to orders for new equipment, components or modifications, and do such other matters and things as may be necessary or appropriate to Lessee's rights under this Paragraph 14. Any part, attachment, appurtenance or accessory constituting a physical part of installation on the Equipment which canand installed in compliance with said manufacturer's installation procedures (other than those added by the manufacturer in order to maintain the Equipment at current engineering levels), or (ii) any other accessory, equipment or device installed on the Equipment so long as such item does not be readily removed without impairing impair the value original function or utility use of the Equipment and is capable of being removed without causing material damage to the Equipment. An Upgrade shall be deemed to be not become an accession to the Equipment and shall from that time not become the property of Lessor. For purposes hereof and of all documents relating hereto, the term "Equipment" shall not be deemed part to include any such Upgrade. At the request of the EquipmentLessor, with title thereto vesting in Lessor. Such alterationsLessee shall (and, additions absent such request, at its option, Lessee may), upon expiration or attachments shall not modify the term of the lease termination of the Equipment with respect Schedule covering such Equipment, remove any such Upgrade and restore the Equipment to which such alterationsits original condition (ordinary wear and tear excepted), additions or attachments are made unless agreed all at Lessee's expense, prior to by returning the Equipment to Lessor. Lessee will not, without the prior written consent of Lessor and Lessee. If Lessee shall subject to such conditions as Lessor may impose for its protection, affix the Equipment to any real propertyproperty if, as a result thereof, the Equipment shall remain personalty and shall not will become part of the realtya fixture under applicable law.
Appears in 1 contract
Alterations and Attachments. Lessee All replacement parts, repairs, modifications, revisions, upgrades, as the case may make be, at any time made to or have upon the Equipment or Software shall be made on its behalf alterations only in compliance with applicable law, provided not in violation of any Vendor warranty or Software License Agreement, as the case may be, and additions or attachments shall become the property of Lessor and shall be free and clear of all liens, encumbrances and rights of others. With respect to the Software, any modifications, unless consented to by the Software Vendor, shall only be made to a copy of such Software and not to the Original Software delivered to Lessee. Lessee will not, without the prior written consent of Lessor, affix or install any accessory, equipment or device on any Equipment which are necessary if such addition will impair the originally intended function or desirable for use of such Equipment and Lessee shall not attach or incorporate the maintenance Equipment to, with or improvement in any other property in such a manner that the Equipment may be deemed to have become an accessory to or the equipment, all at Lessee's sole cost and expense, provided that no part of such alteration, addition or attachment reduces the value or impairs the capabilities or efficiency other property. Upon return to Lessor of the Equipment as to which such alterations, modifications or violates the provisions of Revenue Procedure 79-48 or any successor ruleadditions have been made, regulation or Revenue Procedure. Lessor if Lessee does not exercise its Purchase Option pursuant to Section 12(b), Lessee shall, at LesseeLessor's sole expenserequest, execute remove the same and deliver from time to time such instruments, including but not limited to orders for new equipment, components or modifications, and do such other matters and things as may be necessary or appropriate to Lessee's rights under this Paragraph 14. Any part, attachment, appurtenance or accessory constituting a physical part of restore the Equipment which to its original condition, reasonable wear and tear only being excepted, and, if not so removed, or cannot be readily removed without impairing damaging the function, use or economic value or utility of the Equipment and shall be deemed to be an accession to the Equipment and shall from that time be deemed part of the Equipment, with title thereto vesting shall automatically vest in Lessor. Such alterations, additions or attachments shall not modify the term of the lease of the Equipment with respect to which such alterations, additions or attachments are made unless agreed to by Lessor and Lessee. If Lessee shall affix the Equipment to any real property, the Equipment shall remain personalty and shall not become part of the realty.
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Samples: Master Equipment/Software Rental Agreement (Psinet Inc)
Alterations and Attachments. Lessee may make or have made on its behalf alterations in and additions or attachments to the Equipment which are necessary or desirable for the maintenance or improvement or of the equipmentEquipment, all at Lessee's sole cost and expense, provided that no such alteration, addition or attachment reduces the value or impairs the capabilities or efficiency of the Equipment or violates the provisions of Revenue Procedure 79-48 or any successor rule, regulation or Revenue Procedure. Lessor shall, at LesseeXxxxxx's sole expense, execute and deliver from time to time such instruments, including but not limited to orders for new equipment, components or modifications, and do such other matters and things as may be necessary or appropriate to LesseeXxxxxx's rights under this Paragraph 14. Any part, attachment, appurtenance or accessory constituting a physical part of the Equipment which cannot be readily removed without impairing the value or utility of the Equipment and shall be deemed to be an accession to the Equipment and shall from that time be deemed part of the Equipment, with title thereto vesting in Lessor. Such alterations, additions or attachments shall not modify the term of the lease of the Equipment with respect to which such alterations, additions or attachments are made unless agreed to by Lessor and Lessee. If Lessee shall affix the Equipment to any real property, the Equipment shall remain personalty and shall not become part of the realty.
Appears in 1 contract
Samples: Lease Agreement (American Income Partners v B LTD Partnership)