Equipment Servicing Clause Samples
Equipment Servicing. I understand that no servicing of any kind is provided by you. I am to look to the Equipment Vendor/Supplier for any claims, servicing or warranties if any, and I specifically and unconditionally waive any claims, present or future, against you. Any failure of Equipment, service or operation of any kind, whatsoever, is no basis for non-fulfillment of my obligations under the Lease.
Equipment Servicing. (a) In consideration for the Servicing Fee, RSi shall service all of the Equipment and the Business Leases in accordance with the Servicing Agreements.
(b) To secure RSi's obligations under the Servicing Agreements, the eRoom Parties will pledge to the Lender (i) pursuant to Article 3 hereof, the Equipment Intellectual Property and, (ii) pursuant to the Stock Pledge Agreements, the stock of RSi.
(c) In the event that a Lessee fails to make a payment under a Business Lease within 15 days of the due date thereof, RSi shall disrupt the related Equipment through its electronic locking mechanism thereby rendering the Equipment unusable. In the event that a Business Lease is in default for a period of sixty (60) days or more, RSi shall promptly take all action (including legal action) necessary to gain possession of the related Equipment and shall use its best efforts to enter into a new Business Lease or sell the Equipment.
(d) In the event that any of the eRoom Parties receive proceeds from any sale of Equipment pursuant to clause (c) above, the lesser of (i) the then outstanding Loan Amount of the related Lease Financing Loan or (ii) the proceeds actually received shall immediately be delivered to the Custodian for deposit in the Loss Reserve Account related to such Loan Pool, but such proceeds shall not be counted toward the Reserve Cap.
(e) Any new Business Lease with respect to the Equipment pursuant to clause (c) above, shall be pledged as security for the applicable Lease Financing Loan and all revenues received by the Custodian with respect to such new Business Lease shall be disbursed by the Custodian pursuant to the priorities set out in Section 2.8(c) for the related Loan Pool.
Equipment Servicing. I understand that no servicing of any kind is provided by Advantage Leasing. I am to look to the Dealer/Supplier for any claims, servicing, or warranties, if any. I specifically and unconditionally waive any claim, present or future, against Advantage Leasing, for any failure of equipment, service or disoperation of any kind, whatever, and such failure of service or disoperation is no basis for non-fulfillment of my obligations under this lease.
Equipment Servicing. I understand that no servicing of any kind is provided by 1st American Leasing. I am to look to the Dealer/Supplier for any claims, servicing, or warranties, if any. I specifically and unconditionally waive any claim, present or future, against 1st American Leasing, for any failure of equipment, service or disoperation of any kind, whatever, and such failure of service or disoperation is no basis for nonfulfillment of my obligations under this lease.
Equipment Servicing a. For the term of each Business Lease related to the Lease Financing Loans, in consideration of the Servicing Fee, RSi shall service all of the Equipment and the Business Leases, in accordance with the terms and conditions of an agreement (the "Servicing Agreement") between ALC and RSi which shall include, among other things provisions for revenue optimization of the Equipment, and all necessary maintenance and other services, including billing and collection and software troubleshooting and upgrades and the provisions of subparagraphs 6.(b) and 6.
Equipment Servicing. Do general servicing and lubrication to the heavy duty equipment and trucks.
Equipment Servicing. 2.11.1. The Town requires that the Tenant shall keep all equipment in a good state of repair and shall maintain them at no cost whatsoever to the Town. The Tenant shall always have the equipment operational during opening hours. Records of maintenance to equipment will be kept and a copy provided to the Manager of Recreation and Parks
2.11.2. The Town requires that the Tenant shall operate the concession at a high level of cleanliness and shall always keep equipment neat in appearance. The Town may require the successful Tenant to take any such reasonable actions from time to time that the Town feels is necessary to maintain a high level of cleanliness and neatness.
2.11.3. The successful Tenant agrees to maintain adequate stock and inventory, and to service the equipment during such times that will have the least possible interference with programming or operations at the facility. During servicing or restocking, the Tenant agrees to keep all walkways as free from interference as possible.
2.11.4. The Town will ensure the Chattels shall be serviced regularly by a qualified service technician. Maintenance shall include the annual cleaning of ducts; range hood inspections conducted every 6 months and fire extinguisher maintenance as required, at the expense of the Town.
Equipment Servicing. Upon mutual agreement, Distributor shall service Company equipment at standard rates through Distributor’s Service Advantage Program.