Damage to or Destruction of Equipment. If after delivery of the Equipment to Lessee all or any part of the Equipment is lost, stolen, destroyed or damaged beyond repair, Lessee shall as soon as practible after such event either: (i) replace the same at Lessee's sole cost and expense with equipment of equal or greater value to the Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lessor's reasonable approval, whereupon such replacement shall be substituted in this Lease by appropriate endorsement; or (ii) pay the applicable Purchase Option Price of the Equipment as set forth in Exhibit B. Lessee shall notify Lessor of which course of action it will take within fifteen (15) days after the loss occurrence. If Xxxxxx fails or refuses to notify Lessor within the required period, Lessor may, at its option, declare the applicable Purchase Option Price of the Equipment set forth in Exhibit B immediately due and payable, and Lessee shall be obligated to pay the same. The Net Proceeds of all insurance payable with respect to the Equipment shall be available to Lessee and shall be used to discharge Lessee's obligation under this Section. On payment of the Purchase Option Price, this Lease shall terminate and Lessee thereupon shall become entitled to the Equipment AS IS, WITHOUT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR FITNESS FOR THE USE CONTEMPLATED BY XXXXXX, except that the Equipment shall not be subject to any lien or encumbrance created by or arising through Lessor.

Damage to or Destruction of Equipment. Agency shall provide a complete written report to Lender immediately upon any loss, theft, damage or destruction of any Equipment and of any accident involving any Equipment. If all or any part of the Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged Equipment"), Agency shall as soon as practicable after such event either: (a) replace the same at Agency's sole cost and expense with equipment having substantially similar Specifications and of equal or greater value to the Damaged Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender's approval, whereupon such replacement equipment shall be substituted in the this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Principal Balance of the Damaged Equipment as set forth in the related Exhibit B. Agency shall notify Lender of which course of action it will take within fifteen (15) days after the loss occurrence. If, within forty-five (45) days of the loss occurrence, (a) Agency fails to notify Lender; (b) Agency and Lender fail to execute an amendment to the applicable Equipment Schedule to delete the Damaged Equipment and add the replacement equipment or (c) Agency has failed to pay the applicable Principal Balance, then Lender may, at its sole discretion, declare the applicable Principal Balance of the Damaged Equipment, to be immediately due and payable, and Agency is required to pay the same from Legally Available Funds.

Damage to or Destruction of Equipment. Lessee assumes the risk of loss or damage to the Equipment. If the Equipment or any portion thereof is lost, stolen, damaged, or destroyed by fire or other casualty, Lessee will immediately report all such losses to all possible insurers and take the proper procedures to attain all insurance proceeds. At the option of Lessor, Lessee shall either (1) apply the Net Proceeds to replace, repair or restore the Equipment or (2) apply the Net Proceeds to the applicable Purchase Option Price. For purposes of this Section and Section 5.03, the term Net Proceeds shall mean the amount of insurance proceeds collected from all applicable insurance policies after deducting all expenses incurred in the collection thereof.

Damage to or Destruction of Equipment. Customer shall be responsible for any loss or damage to Champion’s equipment due to actions of Customer’s employees or other subcontractor issues such as, but not limited to, concrete splatter, spray fireproofing, spray painting, spray foam insulation, falling debris, other equipment collisions, etc., etc.

Damage to or Destruction of Equipment. Following delivery of possession of the Equipment to Customer, Customer

Damage to or Destruction of Equipment. Following delivery of possession of the Equipment to Customer, Customer solely and entirely assumes all risk of loss of and damage to the Equipment from any and all causes, including, but not limited to, loss and/or damage due to theft, vandalism, fire, accident, casualty and acts of God. No loss of or damage to the Equipment will reduce or impair any obligation of Customer under this Agreement, which will continue in full force and effect. In the event of loss or damage that is not beyond repair as authorized by the manufacturer, Customer shall, at Customer's sole cost and expense, promptly restore the Equipment to substantially the same condition and repair as it was in at the commencement of this Agreement, in which case this Agreement shall remain in full force and effect and Customer will be entitled to use and operate the Equipment for the balance of the term of this Agreement. If the Equipment is damaged beyond repair or is lost or stolen (an Event of Loss), then Customer shall promptly pay to Company an amount equal to the Replacement Value, whereupon Company shall have the option to either (a) replace the Equipment with Equipment that is substantially similar to the Equipment, in which case this Agreement shall continue in full force and

Damage to or Destruction of Equipment. Following receiving delivery of the Equipment to the Customer at the worksite or Customer taking possession of the Equipment at another location, Customer is responsible for, and solely and entirely assumes all risk of loss and damage to the Equipment from any and all causes, including but not limited to, loss and/or damage due to theft, vandalism, fire, accident, casualty and acts of God. No loss or damage to the Equipment will reduce or impair any obligation of Customer under this Agreement, which will continue in full force and effect until the expiration of the term of this Agreement or completion of the project, whichever is later. In the event of loss or damage that is not beyond repair as authorized by the manufacturer, Customer shall, at Customer's sole cost and expense, promptly restore the Equipment to substantially the same condition and repair as it was in at the commencement of this Agreement, in which case this Agreement shall remain in full force and effect and Customer will be entitled to use and operate the Equipment for the balance of the term of this Agreement. If the Equipment is damaged beyond repair or is lost or stolen (an “Event of Loss”), then Customer shall promptly pay to Company an amount equal to the “Replacement Value”, whereupon Company shall have the option to either (a) replace the Equipment with equipment that is substantially similar to the Equipment, in which case this Agreement shall continue in full force and effect and all references in this Agreement to the Equipment shall be deemed to refer to such replacement equipment; or (b) terminate this Agreement effective upon Company's receipt of such payment from Customer. Company shall give Customer written notice as to which of the foregoing options Company has elected within thirty

Damage to or Destruction of Equipment. Lessee assumes the risk of loss or

Damage to or Destruction of Equipment. Lessee shall indemnify Lessor from any loss of or damage to the equipment howsoever caused during the rental term. If the equipment is damaged or made inoperable in any way other than as a result of normal wear, the Lessee shall notify Lessor in writing within 48-hours of its occurrence, specifying the extent and nature of the damage. Repairs to structural or load carrying portions of the equipment, including, but not limited to, boom sections are not to be undertaken without first obtaining Xxxxxx’x written consent.

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