Common use of Holdover of Equipment Clause in Contracts

Holdover of Equipment. If Lessee fails to permit Lessor to retrieve the System on the Return Date, Lessor shall be entitled to damages equal to the higher of (i) the monthly charges for the System, pro-rated on a per diem basis, for each day the System is retained beyond the Return Date; or (ii) the daily fair market rental for the System on the Return Date. Such damages for retention of the System after the Return Date shall not be interpreted as an extension or reinstatement of the Term.

Holdover of Equipment. If Lessee Xxxxxx fails to permit Lessor to retrieve the System on the Return Date, Lessor shall be entitled to damages equal to the higher of (i) the monthly charges for the System, pro-rated on a per diem basis, for each day the System is retained beyond the Return Date; or (ii) the daily fair market rental for the System on the Return Date. Such damages for retention of the System after the Return Date shall not be interpreted as an extension or reinstatement of the Term.