Common use of Assignment of Manufacturer Warranties Clause in Contracts

Assignment of Manufacturer Warranties. So long and only so long as a Lease Event of Default shall not have occurred and be continuing, and so long and only so long as an Item of Equipment shall be subject to this Lease Agreement and Lessee shall be entitled to possession of such Item hereunder, Lessor authorizes Lessee, at Lessee's expense, to assert for Lessor's account, and assigns to Lessee all rights and powers of Lessor under any manufacturer's, vendor's or dealer's warranty on the Equipment or any part thereof and Lessor agrees to use reasonable efforts at Lessee's expense to assist Lessee in obtaining the benefits of such warranties; provided, however, that Lessee shall indemnify, protect, save, defend and hold harmless Lessor, each of its partners and any Affiliate thereof and each of their respective shareholders, partners, officers, directors, employees, servants and agents from and against any and all claims, and all costs, expenses, damages, losses and liabilities incurred or suffered by any such Person in connection therewith, as a result of, or incident to, any action by Lessee pursuant to the foregoing authorization except as a result of such Person's gross negligence or willful misconduct.

Assignment of Manufacturer Warranties. So long and only so long as a Lease Event of Default shall not have occurred and be continuing, and so long and only so long as an Item of Equipment shall be subject to this Lease Agreement and Lessee shall be entitled to possession of such Item hereunder, Lessor authorizes Lessee, at Lessee's expense, to assert for LessorLessee's account, and assigns to Lessee all rights and powers of Lessor under any manufacturer's, vendor's or dealer's warranty on the Equipment or any part thereof and Lessor agrees to use reasonable efforts at Lessee's expense to assist Lessee in obtaining the benefits of such warranties; provided, however, that Lessee shall indemnify, protect, save, defend and hold harmless Lessor, each of its partners and any Affiliate thereof and each of their respective shareholders, partners, officers, directors, employees, servants and agents Lessor from and against any and all claims, and all costs, expenses, damages, losses and liabilities incurred or suffered by any such Person Lessor in connection therewith, as a result of, or incident to, any action by Lessee pursuant to the foregoing authorization except as a result of such Person's gross negligence or willful misconductauthorization.