Common use of Insufficiency of Net Proceeds Clause in Contracts

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 8.01, Lessee shall either (a) complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount of the then applicable Prepayment Price with respect to the affected Energy Conservation Equipment and, upon such payment, Lessor’s security interest in such Energy Conservation Equipment shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount of the Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If Lessee shall make any payments pursuant to this Section, Lessee shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV.

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 8.01, Lessee shall to the fullest extent permitted by applicable law, but only from funds legally available and appropriated for such purpose either (a) complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount of the then applicable Prepayment Price with respect to for the affected Energy Conservation Equipment under the applicable Lease, and, upon such payment, the Lease Term for such Lease shall terminate and Lessor’s security interest in such Energy Conservation the Equipment thereunder shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount of the Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement or after purchasing paying such Equipment Prepayment Price shall be retained by Lessee. If Lessee shall make any payments pursuant to this Section, Lessee shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV.

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, replacement, modification or improvement referred to in Section 8.0110.01 hereof, the Sub-Lessee shall either (a) complete such replacement, repair, restoration, replacement, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount of the then applicable Prepayment Price with respect to the affected Energy Conservation Equipment and, upon such payment, Lessor’s security interest in such Energy Conservation Equipment shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount of the Net Proceeds, in which event the Sub-Lessee agrees that if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If the Sub-Lessee shall make any payments pursuant to the provisions of this Section, the Sub-Lessee shall not be entitled to any reimbursement therefor from the Lessor or the Lessee nor shall the Lessee or the Sub-Lessee be entitled to any diminution of the amounts payable under Article IVVI hereof; or (b) pay or cause to be paid to the Lessor the amount of the then applicable Purchase Price for the Equipment, and, upon such payment, the applicable Lease Term shall terminate and the Lessor’s security interest in the Equipment shall terminate as provided in Article VIII hereof. The amount of the Net Proceeds in excess of the then applicable Purchase Price, if any, shall be retained by the Sub- Lessee.

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 8.019.01 hereof, Lessee shall shall, subject to annual appropriation and at the determination of the Lessee’s governing body, either (a) complete such replacement, repair, restoration, modification or improvement the work and pay any costs thereof cost in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount and Lessee agrees that if by reason of the then applicable Prepayment Price with respect to the affected Energy Conservation Equipment and, upon any such payment, Lessor’s security interest in such Energy Conservation Equipment shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount insufficiency of the Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If Lessee shall make any payments pursuant to the provisions of this SectionSection 9.02, Lessee shall not be entitled to any reimbursement therefor therefore from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV6 hereof, or (b) Lessee shall pay to Lessor the amount of the then applicable Option Purchase Price and, upon such payment, the Lease Term shall terminate and title to the Equipment, if not previously conveyed to Lessee, shall then be conveyed by Lessor to Xxxxxx as provided in Article 11 of this Lease. The amount of the Net Proceeds in excess, if any, of the then applicable Option Purchase Price, may be retained by Lessee.

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification modification, improvement or improvement replacement referred to in Section 8.019.1 hereof, Lessee Borrower shall either (ai) complete such replacement, repair, restoration, modification or improvement the work and pay any costs thereof cost in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount of the then applicable Prepayment Price with respect to the affected Energy Conservation Equipment and, upon such payment, Lessor’s security interest in such Energy Conservation Equipment shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount of the Net Proceeds, in which event if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If Lessee Borrower shall make any payments pursuant to the provisions of this Section, Lessee Borrower shall not be entitled to any reimbursement therefor from Lessor Lender nor shall Lessee Borrower be entitled to any diminution of the amounts payable under Article IV.VI hereof, or (ii) if Borrower is not then in default hereunder, pay to or cause to be paid to Lender the amount of the then applicable Prepayment Amount and, upon such payment, the Term shall terminate and Lender’s security interest in the Equipment shall terminate as provided in Article XI hereof. The amount of the Net Proceeds in excess of the then applicable Purchase Price, if any, may be retained by Borrower. ARTICLE X‌ DISCLAIMER OF WARRANTIES; VENDOR’S WARRANTIES; ADDITIONAL PAYMENTS; USE OF THE EQUIPMENT

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification modification, improvement or improvement replacement referred to in Section 8.019.1 hereof, Lessee shall either (ai) complete such replacement, repair, restoration, modification or improvement the work and pay any costs thereof cost in excess of the amount of the Net Proceeds or (b) pay or cause to be paid to Lessor the amount of the then applicable Prepayment Price with respect to the affected Energy Conservation Equipment and, upon such payment, Lessor’s security interest in such Energy Conservation Equipment shall terminate as provided in Section 6.01 hereof; provided, however, that any amount payable by Lessee pursuant to this Section 8.02 shall be payable solely from moneys then in Lessee’s general fund that are legally available and duly appropriated by Lessee’s governing body at its discretion and not at its obligation for such purpose. The amount of the Net Proceeds, in which event if any, remaining after completing such repair, restoration, modification or improvement or after purchasing such Equipment shall be retained by Lessee. If Lessee shall make any payments pursuant to the provisions of this Section, Lessee shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV.VI hereof, or (ii) if Lessee is not then in default hereunder, pay to or cause to be paid to Lessor the amount of the then applicable Prepayment Amount and, upon such payment, the Term shall terminate and Lessor’s security interest in the Equipment shall terminate as provided in Article XI hereof. The amount of the Net Proceeds in excess of the then applicable Purchase Price, if any, may be retained by Lessee. ARTICLE X