Equipment Purchased with Proceeds of the Bonds. Any item of equipment shall be labeled, to the extent practicable, to indicate that it is owned by the Authority, subject to the Master Resolution, the Security Documents and this Lease. Equipment of the Project financed with proceeds of the Bonds may not be relocated by the County from the Project. Any item of such equipment which shall be determined by the County to be no longer usable in connection with the Project may be sold by the County after written notice to the Authority and upon substitution of equipment of comparable or greater value or deposit of the proceeds thereof in the Bond Fund. Upon any such sale, the equipment so sold shall be released from the Master Resolution, this Lease, the Security Documents and the security interest created thereunder and hereunder. EVENTS OF DEFAULT AND REMEDIES Lease:
Equipment Purchased with Proceeds of the Bonds. Any item of equipment shall be labeled, to the extent practicable, to indicate that it is owned by the Authority, subject to the Indenture, the Security Documents and this Master Lease. Equipment financed with proceeds of the Bonds may not be relocated by the Board from the Projects. Any item of such equipment which shall be determined by the Board to be no longer usable in connection with the operation of the Projects may be sold by the Board after written notice to the Trustee and upon (i) substitution of equipment of comparable or greater value or (ii) deposit of the proceeds thereof in the Bond Fund. Upon any such sale, the equipment so sold shall be released from the Indenture, this Master Lease, the Security Documents and the security interest created thereunder and hereunder. The parties hereto recognize a $25,000 aggregate de minimis exception to this Section 13.6 for equipment making up a portion of the Project.
