Common use of Enforcement of Certain Warranties Clause in Contracts

Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase of the Equipment, and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.16, ------------- so long as a Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 3 contracts

Samples: Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc)

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Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase of the Equipment, Leased Property and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee, subject to SECTION 22.17. (b) Notwithstanding the foregoing provisions of this Section 18.16SECTION 22.16, ------------- so long as a Lease Event of Default or Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a) SECTION 22.16(a), shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 SECTION 23.17 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Master Lease (Remec Inc)

Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agentsAdministrative Agent), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase of the Equipment, Property and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents Administrative Agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.16SECTION 20.15, ------------- so long as a Lease Event of Default or Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(aSECTION 20.15(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 SECTION 20.16 in Permitted Investments ------------- and, if a Lease Event of Default or Lease Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Reebok International LTD)

Enforcement of Certain Warranties. (a) Unless a Lease Lessee hereby --------------------------------- assigns to Lessor any and all warranties and claims against dealers, manufacturers, contractors or subcontractors relating to the Equipment. Except if an Event of Default shall have has occurred and be is continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assertassert for Lessor's account, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under against any vendor or manufacturer with respect to the warranties provided to Lessor in connection with the purchase of the EquipmentEquipment or Modification or Part, and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. If an Event of Default shall have occurred and be continuing, Lessor shall have the right to control the handling of all such rights and claims, including without limitation the determination of whether and when to assert and/or settle any such right or claim; provided that Lessee shall -------- have the right to participate in the handling of any such right or claim that Lessor shall have determined to assert so long as such participation by Lessee does not interfere with the rights of Lessor to control the handling of such right or claim. Any amount recovered by Lessee under any such warranties warranty or other claim against any vendor or manufacturer shall be paid to Lesseeapplied as provided in Section 10.03 hereof. (b) Notwithstanding the foregoing provisions of this Section 18.16, ------------- so long as a Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (SDW Holdings Corp)

Enforcement of Certain Warranties. (a) Subject to Section 5.6(b) hereof, the Lessee hereby assigns and sets over to, and the Lessor hereby accepts the assignment of, all of the Lessee's right, title and interest (but excluding any responsibilities, duties or liabilities of the Lessee thereunder) in, to and under, any and all warranties of any builders, contractors or vendors who sold to the Lessee any Property or portion thereof or performed any work on or supplied any materials, fixtures or equipment to any Property or portion thereof (excluding from such assignment any such warranties and claims in respect of any property title to which is vested in the Lessee), to the extent assignable by the Lessee. (b) Unless a Lease Event of Default shall have occurred and be continuing, the Lessor authorizes the Lessee (directly or through agents), at the Lessee's expense, to assert, during the Lease Term or any FMV Lease Term, all of the Lessor's rights (if any) under any applicable such warranty and any other claim that the Lessee or the Lessor may have under (including those assigned by the warranties provided to Lessor in connection with the purchase Assignment of the EquipmentWarranties), and the Lessor agrees to cooperate, at the Lessee's expense, with the Lessee and its agents in asserting such rightsrights subject to the terms of the applicable warranty. Any amount recovered by the Lessee under any such warranties warranty shall be paid to the Lessee and applied first to the repair, restoration or replacement of the portion of the Property, as applicable, by virtue of which such amount was recovered and the balance, if any, shall be retained by the Lessee; provided that this sentence shall not limit the Lessee's obligations under Article 9 of the Lease or the FMV Lease, as applicable. (bc) Notwithstanding the foregoing provisions of this Section 18.165.6, ------------- so long as a Special Default or a Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be retained by the Lessee pursuant to Section 18.16(a5.6(b) hereof shall be ---------------- paid to Lessor the Indenture Trustee (or, if the Lien of the Security Documents has been satisfied and discharged, the Lessor) as security for the obligations of the Lessee under this Lease, shall be invested by Lessor the Lease and held in accordance with Section 18.17 in Permitted Investments ------------- and, if a 21.16 of the Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Special Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this LeaseLessee.

Appears in 1 contract

Samples: Participation Agreement (American Financial Realty Trust)

Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase purchase, of the Equipment, Sites and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.1621.17, ------------- so long as a Lease Event of Default or Lease Payment/Bankruptcy Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a21.17(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 21.18 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Payment/Bankruptcy Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Genesis Health Ventures Inc /Pa)

Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agentsAdministrative Agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase of the Equipment, Property and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents Administrative Agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.1620.15, ------------- so long as a Lease Event of Default or Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a20.15(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 20.16 in Permitted Investments ------------- and, if a Lease Event of Default or Lease Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease (Reebok International LTD)

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Enforcement of Certain Warranties. (a) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase purchase, of the Equipment, Sites and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents Lease Agreement in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.1621.17, ------------- so long as a Lease Event of Default or Lease Payment/Bankruptcy Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a21.17(a) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 21.18 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Payment/Bankruptcy Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Genesis Health Ventures Inc /Pa)

Enforcement of Certain Warranties. (a1) Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase purchase, of the Equipment, Sites and the Construction of any Improvements and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to LesseeLessee to be retained as its property. (b2) Notwithstanding the foregoing provisions of this Section 18.1620(s), ------------- so long as a Lease Event of Default or Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a20(s) shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 20(t) in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Master Lease Agreement (Perot Systems Corp)

Enforcement of Certain Warranties. (a) Unless a Lease Default or Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase purchase, of the Equipment, Site and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any So long as there is no Lease Default or Lease Event of Default, any amount recovered by Lessee under any such warranties shall be paid to retained by Lessee. (b) Notwithstanding the foregoing provisions of this Section 18.16Section, ------------- so long as a Lease Default or Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a21.17(a) shall be ---------------- paid to Lessor as security for the obligations of ---------------- Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Smart & Final Inc/De)

Enforcement of Certain Warranties. (a) a Unless a Lease Event of Default shall have occurred and be continuing, Lessor authorizes Lessee (directly or through agents), at Lessee's expense, to assert, during the Lease Term, all of Lessor's rights (if any) under any applicable warranty and any other claim that Lessee or Lessor may have under the warranties provided to Lessor in connection with the purchase of the Equipment, Leased Property and Lessor agrees to cooperate, at Lessee's expense, with Lessee and its agents in asserting such rights. Any amount recovered by Lessee under any such warranties shall be paid to Lessee. , subject to Section 22.17. (b) b Notwithstanding the foregoing provisions of this Section 18.1622.16, ------------- so long as a Lease Event of Default or Lease Default shall have occurred and be continuing, any amount that would otherwise be retained by Lessee pursuant to Section 18.16(a) 22.16(a), shall be ---------------- paid to Lessor as security for the obligations of Lessee under this Lease, shall be invested by Lessor in accordance with Section 18.17 23.17 in Permitted Investments ------------- and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Event of Default or Lease Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Master Lease (Cisco Systems Inc)

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