Common use of Commitment of Resources Clause in Contracts

Commitment of Resources. By signing this Lease Agreement, Lessee authorizes Lessor to proceed with the order for the Equipment. It is understood and agreed upon between the parties that Lessor, in reliance on the promises of Lessee contained herein, may be specially ordering, reserving, altering, remodeling and/or modifying the Equipment described in this Lease Agreement based on information supplied to Lessor by Lessee. Lessee understands that the Modular Equipment may not be standard, readily re-leasable product and/or Lessor may have lost other rental opportunities in allocating the Modular Equipment for Lessee’s use and, as a result, Lessor is incurring extraordinary costs and expenses in proceeding with Lessee’s order for this Modular Equipment. Notwithstanding anything contained in this Lease Agreement to the contrary, in the event Lessee terminates this Lease Agreement or wrongfully rejects Equipment prior to the commencement of the Minimum Lease Term, Lessee shall be responsible for the payment to Lessor of: a) the costs incurred by Lessor for labor, materials and work executed up to Lessor’s receipt of written notice of termination; b) storage related charges attributable to failed delivery; c) rent for the Minimum Lease Term; and d) reasonable overhead and profit. All such charges will be billed on a lump sum basis unless other payment options are agreed by the Lessor.

Commitment of Resources. By signing this Lease Agreement, Lessee authorizes Lessor to proceed with the order for the Equipment. It is understood and agreed upon between the parties that Lessor, in reliance on the promises of Lessee contained herein, may be specially ordering, reserving, altering, remodeling and/or modifying the Equipment described in this Lease Agreement based on information supplied to Lessor by Lessee. Lessee understands that the Modular Equipment may not be standard, readily re-leasable product and/or Lessor may have lost other rental opportunities in allocating the Modular Equipment for Lessee’s use and, as a result, Lessor is incurring extraordinary costs and expenses in proceeding with Lessee’s order for this Modular Equipment. Notwithstanding anything contained in this Lease Agreement to the contrary, in the event Lessee terminates this Lease Agreement or wrongfully rejects Equipment prior to the commencement of the Minimum Lease Term, Lessee shall be responsible for the payment to Lessor of: a) the costs incurred by Lessor for laborlabour, materials and work executed up to Lessor’s receipt of written notice of termination; b) storage related charges attributable to failed delivery; c) rent for the Minimum Lease Term; and d) reasonable overhead and profit. All such charges will be billed on a lump sum basis unless other payment options are agreed by the Lessor.