Gross Rental Equipment Assets Sample Clauses

Gross Rental Equipment Assets. If the amount of Gross Rental Equipment Assets as of the Closing Date according to the Closing Statement is less than CDN$35,000,000 and the amount by which CDN$35,000,000 exceeds the amount of Gross Rental Equipment Assets is greater than the payment, if any, made with respect to the estimate of Gross Rental Equipment Assets pursuant to Section 1.5(d) above, then the Aggregate Purchase Price shall be reduced by the difference between such excess amount and such payment, and the amount of such difference shall be paid, dollar-for-dollar, to Buyer out of the Escrow Funds (or such amount shall be set off against amounts payable under the Buyer Note pursuant to Section 1.5(a)(v) if the Buyer Note remains outstanding at such time). If the amount of Gross Rental Equipment Assets as of the Closing Date according to the Closing Statement is less than CDN$35,000,000 and the amount by which CDN$35,000,000 exceeds the amount of Gross Rental Equipment Assets as of the Closing Date is less than the payment made with respect to the estimate of Gross Rental Equipment Assets pursuant to Section 1.5(d) above, then the Cash Consideration portion of the Aggregate Purchase Price shall be increased by the difference between such payment and such excess amount, and the amount of such difference shall be paid by Buyer, dollar-for-dollar to Sellers.
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Related to Gross Rental Equipment Assets

  • Rental Equipment 7.1 We will at all times own all Rental Equipment supplied to you. You will not let, sell, charge, assign, sub-license or allow a third party to use the Rental Equipment nor remove any labels, and shall not prejudice our rights in the Rental Equipment in any way. We may replace the Rental Equipment from time to time either with your prior consent or provided that the replacement Rental Equipment is of a specification that is at least equal to the Rental Equipment originally supplied and such change does not materially disrupt the provision of the Services. 7.2 Subject to the other terms of this paragraph 7, we (or our authorised representative) shall, during our usual working hours: 7.2.1 where necessary install the Rental Equipment at your premises at a time and date agreed with you; and 7.2.2 use our reasonable endeavours to repair any faults to the Rental Equipment in accordance with our standard procedures (which are available on request). 7.3 It is your responsibility to look after the Rental Equipment that is in your possession or custody and you agree to pay for the Rental Equipment to be replaced or repaired if it is lost, stolen or damaged. 7.4 You will notify us promptly of any faults which occur, any repairs which become necessary, and of any loss, theft or damage to the Rental Equipment. 7.5 You agree that you will only use the Rental Equipment in conjunction with the relevant Services and shall comply with our reasonable instructions in relation to its use. 7.6 You shall be responsible for maintaining adequate cover in place to insure the Rental Equipment while it remains in your possession and custody. You will also be responsible for obtaining and, where appropriate, paying for all necessary licenses, consents and approvals required for the installation and use of the Rental Equipment. 7.7 You will not (and you will ensure that no-one else will) repair, alter, modify or maintain, or make any additions or attachments to, or otherwise alter, the Rental Equipment without our prior written consent. We will not be liable for any costs or charges incurred, faults caused by, or repairs required as a result of, installation or programming of Rental Equipment that is carried out by any other person (other than our employees or agents). You agree to indemnify us for all losses, damages and expenses that are brought against or incurred by us, arising as a result of the same. 7.8 On expiry or termination of the Agreement or the relevant Service, all Rental Equipment must be returned to us in reasonable condition, subject to reasonable wear and tear. If you fail to return or make available for collection the Rental Equipment in a reasonable condition or at all we may, at our option, invoice you for a sum equal to the original cost of the Rental Equipment less any depreciation together with any costs reasonably incurred by us. 7.9 In the event that you return Rental Equipment to us and it is not received by us, in the absence of reasonable evidence that the Rental Equipment has been delivered to us you accept that you shall remain liable for the Rental Equipment.

  • Capital Equipment Collaborator’s commitment, if any, to provide ICD with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to ICD the capital equipment or provides funds for ICD to purchase it, then ICD will own the equipment. If Collaborator loans capital equipment to ICD for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and ICD will not be liable for any damage to the equipment.

  • Additional Equipment Additional Equipment may from time to time be added as the subject matter of this Agreement as agreed on by the parties. Any additional property will be added in an amendment describing the property, the monthly rental, security deposit, and stipulated loss value of the additional Equipment. All amendments must be in writing and signed by both parties. Other than by this amendment procedure, this Agreement may not be amended, modified, or altered in any manner except in writing signed by both parties.

  • Equipment Rental Copies of rental agreements for the equipment used, including the rental rate; and the number of hours the equipment was used on the project.

  • Office Space, Equipment and Facilities Provide such office space, office equipment and office facilities as are adequate to fulfill the Adviser’s obligations hereunder.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Electrical Equipment Residents must use only CSA, UL-approved or Canadian-certified electrical equipment; the rated wattage of light fixtures must never be exceeded; and only replacement bulbs supplied by Waterloo maintenance staff may be used. Do not leave any unattended electrical equipment turned on (i.e. hair straighteners, lights etc.)

  • Leased Equipment The risk of loss or damage to leased equipment, goods or property shall not transfer to the University except as provided in §680.219, Florida Statutes. Any security interest in the leased equipment, goods or property granted to the Contractor contrary to AGO 79-72 and AGO 80-9 is null and void. Limitations of remedies provisions, which are unconscionable under applicable Florida law, are void. MATERIAL SAFETY DATA SHEET (MSDS). In compliance with Florida Statutes, Ch. 442, a Material Safety Data Sheet (MSDS) must accompany any applicable item delivered under this Agreement.

  • Special Equipment The Employer agrees to provide specialty tools, emergency supplies/equipment, testing equipment and safety equipment as needed to perform required duties as determined and authorized by the Chief or designee. The emergency supplies/equipment will include appropriate survival provisions and equipment for each permanent Maintenance Mechanic 4 and the Law Enforcement Communications Systems Supervisor when they are performing duties that would require such provisions and equipment. When necessary, the employer will replenish used or expired survival provisions and damaged and unusable equipment. All supplies and equipment will be returned to the employer when the employee is no longer performing the duties that would require the survival provisions and/or equipment.

  • Metering Equipment 13.01. Utility will furnish, install, own and maintain metering equipment capable of measuring the flow of kilowatt-hours (kWh) of energy. The Customer's service associated with the CRG will be metered at a single metering point. The metering equipment will measure energy delivered by Utility to Customer and also measure energy delivered by Customer to Utility. Customer agrees to provide safe and reasonable access to the premises for installation of this equipment and its future maintenance or removal.

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