Common use of Inspection of Equipment Clause in Contracts

Inspection of Equipment. Prior to the removal of the System, Lessor shall inspect the System to determine if the System has been damaged by Lessee. If the results of such inspection indicate that the System, or any component thereof, has been damaged Lessee shall pay to Lessor within ten (10) days of demand, as liquidated damages, the estimated cost ("Estimated Cost") of servicing or repairing the System or component thereof. The Estimated Cost shall be determined by Lessor by obtaining two quotes for such service or repair work and taking their average. Lessee shall bear the cost, if any, incurred by Lessor in obtaining such quotes.

Appears in 6 contracts

Samples: Solar Equipment Lease Agreement, Solar Equipment Lease Agreement, Solar Equipment Lease Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!