Common use of Hardware and Equipment Clause in Contracts

Hardware and Equipment. In the event that any hardware and other equipment owned by Contractor and used in connection with this Contract is subject to the security interest or a legal or equitable interest by a third party who is not a party to this Contract, Contractor shall insure in any such transactions that DNR shall be notified of a default occurring under the instrument and if Contractor does not cure the default within the time allowed, DNR may, in its sole discretion, cure the default by Contractor and assess or set off all costs associated with affecting cure, including the amount in default and reasonable attorney’s fees against Contractor.

Hardware and Equipment. In the event that any hardware and other equipment owned by Contractor Concessionaire and used in connection with this Contract is subject to the security interest or a legal or equitable interest by a third party who is not a party to this Contract, Contractor Concessionaire shall insure in any such transactions that DNR shall be notified of a default occurring under the instrument and if Contractor Concessionaire does not cure the default within the time allowed, DNR may, in its sole discretion, cure the default by Contractor Concessionaire and assess or set off all costs associated with affecting cure, including the amount in default and reasonable attorney’s fees against ContractorConcessionaire.

Hardware and Equipment. In the event that any hardware and other equipment owned by Contractor Concessionaire and used in connection with this Contract is subject to the security interest or a legal or equitable interest by a third party who is not a party to this Contract, Contractor Concessionaire shall insure in any such transactions that DNR shall be notified of a default occurring under the instrument and if Contractor Concessionaire does not cure the default within the time allowed, DNR may, in its sole discretion, cure the default by Contractor Concessionaire and assess or set off all costs associated with affecting cure, including the amount in default and reasonable attorney’s attorneys fees against ContractorConcessionaire.

Hardware and Equipment. In the event that any hardware and other equipment owned by Contractor and used in connection with this Contract is subject to the security interest or a legal or equitable interest by a third party who is not a party to this Contract, Contractor shall insure in any such transactions that DNR shall be notified of a default occurring under the instrument and if Contractor does not cure the default within the time allowed, DNR may, in its sole discretion, cure the default by Contractor and assess or set off all costs associated with affecting cure, including the amount in default and reasonable attorney’s attorneys fees against Contractor.