Common use of DAMAGED OR LOST EQUIPMENT Clause in Contracts

DAMAGED OR LOST EQUIPMENT. Unless otherwise provided in this Agreement, if the equipment is damaged or lost, the Lessor shall have the option of requiring the Lessee to either repair the Equipment to a state of good working order or to replace the Equipment with like-equipment and in equal condition. The final decision for approval of any lost or damaged Equipment will be ultimately up to the Lessor.

DAMAGED OR LOST EQUIPMENT. Unless otherwise provided in this Agreement, if the equipment is damaged or lost, the Lessor shall have the option of requiring the Lessee lessee to either repair the Equipment to a state of good working order or to replace the Equipment with like-equipment and in equal condition. The final decision for approval of any lost or damaged Equipment will be ultimately up to the Lessor.

DAMAGED OR LOST EQUIPMENT. Unless otherwise provided in this Agreement, if the equipment is damaged or lost, the Lessor shall have the option of requiring the Lessee to either repair the Equipment to a state of good working order or to replace the Equipment with like-equipment and in equal condition, or fair market value. The final decision for approval of any lost or damaged Equipment will be ultimately up to the Lessor.