Common use of Lease and Removal of Newark Assets Clause in Contracts

Lease and Removal of Newark Assets. The Newark Assets shall remain at the Newark Facility and Supplier shall, subject to the terms and conditions set forth in this Article V, lease the Newark Assets from Purchaser for the Term (the “Lease”). Within 90 days after the last day of the Term, Purchaser shall remove, at its expense, and shall be solely responsible for removing, the Newark Assets from the Newark Facility (the “Transfer Date”). Purchaser shall provide Supplier with written notice of the Transfer Date at least 60 Business Days prior to the Transfer Date. If the Newark Assets shall not be removed on or prior to Transfer Date, Purchaser shall reimburse Supplier for all costs and expenses incurred by Supplier on account of maintaining and storing the Newark Assets at the Newark Facility as a result of such non-removal until Purchaser removes the Newark Assets. Notwithstanding the preceding sentence or anything else in this Agreement to the contrary, Supplier shall have no responsibilities or obligations of any kind, including, without limitation, as to operation, storage, insurance or maintenance, with respect to the Newark Assets after the Transfer Date.