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 Substitute Equipment, any repair of the damaged Equipment or the portion of the Termination Value required to be paid under Section 9.01(a) Lessee shall, as applicable, either (a) complete the replacement, repair or restoration and pay any cost in excess of the amount of Net Proceeds, provided that, if by reason of such insufficiency of the Net Proceeds, Lessee shall incur expenses, it shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article V; or (b) pay to Lessor the Net Proceeds plus the amount by which the sum of the Termination Value exceeds the Net Proceeds (which excess shall be retained by Lessor) and, upon such payment together with payment of all other amounts owed by Xxxxxx, the Lease Term as to such Equipment shall terminate.

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any Substitute Equipmentreplacement, any repair of the damaged Equipment repair, restoration or the portion of the Termination Value required Purchase Price referred to be paid under in Section 9.01(a) 8.4 hereof, Lessee shall, as applicable, either either (a) complete the replacement, repair or restoration work and pay any cost in excess of the amount of the Net Proceeds, provided Proceeds (Lessee agrees that, if by reason of such insufficiency of the Net Proceeds, Lessee shall incur expensesexpenses pursuant hereto, it shall not be entitled to any reimbursement therefor thereof from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article VV hereof); or (b) pay to Lessor the Net Proceeds plus the amount by which excess of the sum of the Termination Value exceeds then applicable Purchase Price and pro rata allocation of interest over the Net Proceeds (which excess shall be retained by Lessor) and, upon such payment together with payment of all other amounts owed by Xxxxxxpayment, the Lease Term as shall terminate and title to such the Equipment shall terminatebe conveyed by Lessor to Lessee as provided in Article X of this Agreement.