Common use of Condition and Operation Clause in Contracts

Condition and Operation. Lessor, Owner Participant and Indenture ----------------------- Trustee shall have the right to obtain and, following any such request by any of them, Lessee shall provide or request to be provided, information regarding the condition and state of repair of any Transponder then subject to this Lease, compliance by Lessee with Sections 7 and 9 and performance of Seller and Contractor under the Xxxxxx Agreements (it being understood that information with respect to the performance of Seller and Contractor shall be limited to that made available pursuant to the Xxxxxx Agreements), and the absence of any Default, or Event of Default or Event of Loss, or event which with the passage of time or giving of notice or both would become an Event of Loss. Indenture Trustee shall neither have any duty to make any inquiry nor incur any liability obligation by reason of not making any such inquiry.

Appears in 2 contracts

Samples: Lease Agreement (Magellan International Inc), Lease Agreement (Magellan International Inc)

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Condition and Operation. Lessor, Owner Participant and Indenture ----------------------- Trustee shall have the right to obtain and, following any such request by any of them, Lessee shall provide or request to be provided, information regarding the condition of the Satellite and state of repair of any Transponder Buyer’s Transponders then subject to this Lease, compliance by Lessee with Sections 7 and 9 and performance of Seller and Contractor under the Xxxxxx Agreements Purchase Agreement (it being understood that information with respect to the performance of Seller and Contractor shall be limited to that made available pursuant to the Xxxxxx AgreementsPurchase Agreement), and the absence of any Default, Default or Event of Default or Event of Loss, or event which with the passage of time or giving of notice or both would become an Event of Loss. None of Lessor, Owner Participant or Indenture Trustee shall neither have any duty to make any inquiry nor or incur any liability or obligation by reason of not making any such inquiry.

Appears in 1 contract

Samples: Lease Agreement (Xm Satellite Radio Holdings Inc)

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Condition and Operation. Lessor, Owner Participant and ----------------------- Indenture ----------------------- Trustee shall have the right to obtain and, following any such request by any of them, Lessee shall provide or request to be provided, information regarding the condition and state of repair of any Transponder then subject to this Lease, compliance by Lessee with Sections 7 and 9 and performance of Seller and Contractor under the Xxxxxx Agreements (it being understood that information with respect to the performance of Seller and Contractor shall be limited to that made available pursuant to the Xxxxxx Agreements), and the absence of any Default, Default or Event of Default or Event of Loss, or event which with the passage of time or giving of notice or both would become an Event of Loss. Indenture Trustee shall neither have any duty to make any inquiry nor incur any liability obligation by reason of not making any such inquiry.

Appears in 1 contract

Samples: Lease Agreement (Magellan International Inc)

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