Equipment Leases Clause Samples
The Equipment Leases clause defines the terms under which one party (the lessee) is permitted to use equipment owned by another party (the lessor) for a specified period in exchange for payment. This clause typically outlines the types of equipment covered, the duration of the lease, payment schedules, maintenance responsibilities, and conditions for returning the equipment. By clearly setting out these terms, the clause helps prevent disputes over equipment use, ensures both parties understand their obligations, and allocates risk related to damage or loss during the lease period.
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Equipment Leases. Landlord shall enter into such leases of equipment and personal property as Tenant, or Operator at the direction of Tenant, may reasonably request from time to time, provided that the form and substance thereof shall be reasonably satisfactory to Landlord. Tenant, or Operator at the direction of Tenant, shall prepare and deliver to Landlord all such lease documents for which Landlord's execution is necessary and Landlord shall promptly, upon approval thereof, execute and deliver such documents to Tenant. Tenant, or Operator at the direction of Tenant shall, throughout the Term, be responsible for performing all of Landlord's obligations under all such documents and agreements, including without limitation, all Contracts, as defined in the Purchase Agreement.
Equipment Leases. Attached hereto as Exhibit E is a list of all equipment leases to which Seller is a party for the leasing of equipment for the Properties, including (without limitation) a list of all amendments and modifications thereto and assignments thereof (which leases, together with the equipment leases entered into with respect to the Properties after the date hereof with the consent of Purchaser pursuant to Section 6 below, are herein referred to collectively as the "Equipment Leases"). To the best of Seller's knowledge, except as may be shown in said exhibit, all of the Equipment Leases are in full force and effect and free from default and there is no existing event which, with the passage of time or giving of notice, or both, could become a default under the Equipment Leases, and there are no disputes, claims or rights of set-off under the Equipment Leases.
Equipment Leases. Seller shall, and shall cause its Affiliates to, pay the remaining balances on any Equipment Leases and shall deliver title to all vehicles and Fixtures and Equipment covered by such Equipment Leases free and clear of all Encumbrances to Buyer at the Closing.
Equipment Leases. Landlord shall enter into such leases of equipment and personal property as Tenant may reasonably request from time to time, provided that the form and substance thereof shall be reasonably satisfactory to Landlord. Tenant shall prepare and deliver to Landlord all such lease documents for which Landlord's execution is necessary and Landlord shall promptly, upon approval thereof, execute and deliver such documents to Tenant. Tenant shall, throughout the Term, be responsible for performing all of Landlord's obligations under all such documents and agreements, including without limitation, all Contracts, as defined in the Purchase Agreement.
Equipment Leases. All leases and purchase money security agreements for any equipment, machinery, vehicles, furniture or other personal property located at the Hotel and used in the operation of the Hotel which are held by or on behalf of Seller (the “Equipment Leases”), together with all deposits made thereunder, to the extent such Equipment Leases and deposits are transferable;
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Equipment Leases. Each Credit Party has good and indefeasible title to, or a valid leasehold interest in, all of its material personal property, in each case, free and clear of Liens except for Permitted Encumbrances. The Credit Parties enjoy peaceful and undisturbed possession under all leases of Equipment and other personal property material to their business and to which they are parties or under which they are operating, and all of such material leases are valid and subsisting.
Equipment Leases. 5 1.52 ERISA...........................................................................................5 1.53
Equipment Leases. Manager is authorized, without the prior written approval of Owner if not otherwise a part of the Annual Plan, to enter in the name of Owner any equipment leases and Space Leases covering the Hotel with vendors of its choice; provided, however, if not otherwise expressly contemplated by the Annual Plan, Manager may not enter into any equipment lease without Owner’s prior written consent if (a) the contract term is longer than one (1) year and is not terminable by Owner without penalty upon 30 days’ prior written notice or (b) the total expenditures under such Equipment Lease or Space Lease exceed $25,000.
Equipment Leases. All leases and purchase money security agreements, together with all amendments thereof and supplements thereto, for any equipment, machinery, vehicles, furniture or other personal property located at the Hotels which are held by Seller or by an affiliate of Seller and used primarily in the Business (including, without limitation, the Van Leases), together with all deposits made by Seller thereunder, to the extent the same and such deposits are transferable or the parties obtain any consent necessary to effectuate such a transfer (the “Equipment Leases”);