Lease of Vehicles. Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the vehicles (individually, a “Vehicle” and collectively, the “Vehicles”) described in the schedules from time to time delivered by Lessor to Lessee as set forth below (“Schedule(s)”) for the rentals and on the terms set forth in this Agreement and in the applicable Schedule. References to this “Agreement” shall include this Master Equity Lease Agreement and the various Schedules and addenda to this Master Equity Lease Agreement. Lessor will, on or about the date of delivery of each Vehicle to Lessee, send Lessee a Schedule covering the Vehicle, which will include, among other things, a description of the Vehicle, the lease term and the monthly rental and other payments due with respect to the Vehicle. The terms contained in each such Schedule will be binding on Lessee unless Lessee objects in writing to such Schedule within ten (10) days after the date of delivery of the Vehicle covered by such Schedule. Lessor is the sole legal owner of each Vehicle. This Agreement is a lease only and Lessee will have no right, title or interest in or to the Vehicles except for the use of the Vehicles as described in this Agreement. This Agreement shall be treated as a true lease for federal and applicable state income tax purposes with Lessor having all benefits of ownership of the Vehicles. It is understood and agreed that Enterprise Fleet Management, Inc. or an affiliate thereof (together with any subservicer, agent, successor or assign as servicer on behalf of Lessor, “Servicer”) may administer this Agreement on behalf of Lessor and may perform the service functions herein provided to be performed by Lessor.
Lease of Vehicles. SEPTA will supply Paratransit vehicles to Contractor and Contractor will use the Paratransit vehicles to perform the Scope of Services. Contemporaneously with the execution of this document the Parties will execute a Lease Agreement for Paratransit Vehicles that conforms to the copy which is Attachment 8. [The remainder of the page, except for the page number, is intentionally blank.]
Lease of Vehicles. Pursuant to the terms and condition of this Agreement, the COUNTY has and will provide to the OPERATOR delivery and use of the vehicles for use by the OPERATOR in providing the services.
Lease of Vehicles. LESSOR hereby agrees to lease to LESSEE and LESSEE hereby agrees to lease from LESSOR the school buses or other motor vehicles and equipment and accessories thereon (herein “Vehicles”) on the terms and conditions provided in this Agreement and the schedule and additional schedules annexed hereto (each a “Schedule” and collectively, the “Schedules”). Each Schedule shall be a separately enforceable Lease, the terms and conditions of which shall be those set forth herein and on each Schedule (each a “Lease” and collectively, the “Leases”).
Lease of Vehicles. From time to time, subject to the terms and provisions hereof, the Lessor agrees to lease to the Lessee, and the Lessee agrees to lease from the Lessor, New Vehicles identified in New Vehicle Schedules and Transferred Vehicles identified in Transferred Vehicle Schedules, in each case provided to the Lessor by the Servicer from time to time pursuant to Sections 1.04 and 1.06 of the Purchase Agreement. This Agreement, together with the Manufacturer Programs, the New Vehicle Schedules, the Rejected Vehicle Schedules, the Transferred Vehicle Schedules, the Initial Hertz Vehicle Schedules, the Service Vehicle Schedules and any other related documents attached to this Agreement (collectively, the “Supplemental Documents”), will constitute the entire agreement regarding the leasing of Vehicles by the Lessor to the Lessee.
Lease of Vehicles. From time to time, subject to the terms and provisions hereof, Rental ULC agrees to lease to Funding LP and Funding LP agrees to lease from Rental ULC, subject to the terms hereof:
(a) the Vehicles identified in Schedule “A” to the Funding/Rental Purchase Agreement; and
(b) any other Vehicles that from time to time become Rental ULC Vehicles. (The Vehicles in Sections 2.1(a) and (b) being collectively referred to as the “Leased Vehicles.”)
Lease of Vehicles. LESSOR hereby agrees to lease to LESSXX xxx LESSXX xxxeby agrees to hire from LESSOR certain automobiles, trucks, tractors, trailers or equipment (herein "Vehicle(s)") from time to time during the term of this Agreement. Whenever LESSEE desires to lease Vehicles, LESSEE shall submit to LESSOR an assignment of LESSEE's Vehicle Purchase Agreement in writing in connection with LESSXX'x xnitial order of 72 tractors and 59 trailers on a form acceptable to LESSOR and LESSEE, or a Vehicle Requisition in writing and pursuant to a form acceptable to LESSOR, or by electronic or telephonic means. Upon receipt of such Vehicle Purchase Agreement or Vehicle Requisition, LESSOR shall confirm and accept such request in a similar manner, order the Vehicles if not previously ordered by LESSXX, xxd upon receipt of an invoice therefore, pay the manufacturer for the invoice amount of the Vehicles. LESSEE's lease and acceptance of any Vehicles ordered by it shall take effect on the terms and conditions specified in this Agreement and the Exhibits attached hereto immediately upon delivery of each Vehicle to its designated location by LESSOR or its designated agent to and acceptance by LESSEE or its designated agent, provided that the Vehicle conforms to LESSEE's specifications (herein "Delivery Date"). LESSXX'x xcceptance of a Vehicle shall constitute a warranty by LESSEE that the party accepting such Vehicle has the authority to do so on behalf of LESSEE, and that the Vehicle conforms to LESSEE's Vehicle Purchase Agreement or Vehicle Requisition, provided, however, LESSXX'x xcceptance hereunder shall not be construed as a waiver of LESSEE's rights against the manufacturer or a waiver of the warranties of the manufacturer. LESSEE shall take delivery of a Vehicle within five (5) business days of notice to LESSEE that such Vehicle is available for delivery. In the event the purchase of any Vehicle is cancelled by LESSXX, XXSSXX xxxees to reimburse LESSOR for all reasonable and necessary expenses incurred by LESSXX xx a result of such cancellation. Section (8) (c) of the Agreement is hereby deleted and replaced with the following:
Lease of Vehicles. The lease of vehicles acquired with financial assistance authorized for 49 U.S.C. chapter 53 to any third party is contingent upon approval of the Department. It is allowable to lease vehicles to another Community Transportation System providing general public service in the State of North Carolina, upon approval of the Department. It is also allowable for vehicles to be leased to a third party operator or transportation management company that operates the transit service within a county/region under contract to the Grantee, upon approval of the Department. The Grantee agrees to use the vehicle lease agreement provided by the Department when vehicles are leased, even if on a short-term basis, to another Community Transportation System or a management company. The Grantee agrees to obtain written approval from the Department before the lease is executed and forward a copy of the signed, executed lease agreement to the Department. The Grantee, as a Community Transportation System, shall not lease vehicles to human service agencies, county agencies/government, community agencies or school systems. The Grantee agrees not to loan vehicle(s) to other agencies/individuals for short-term use, even during hours that the transportation system is not providing service, as the vehicle(s) will generally be used to provide service that is “closed-door,” i.e., not open to the general public.
Lease of Vehicles. Xxxxxxxx hereby leases to Lessee and Lessee leases from Xxxxxxxx the Vehicle(s) described on Rider 1 hereto together with such options, improvements, and additions as described in the detailed equipment specifications of the proposal dated May 20, 2021, which are incorporated herein by reference. In the event of a conflict between this Agreement and any document incorporated by reference (including the equipment specifications), this Agreement shall govern.
Lease of Vehicles. SEE ADDENDUM. Upon delivery and acceptance of each vehicle, LESSXX xxxees that LESSXX'x xbligation to pay rent and other amounts hereunder with respect to such Vehicle shall be unconditional, and LESSEE shall not be entitled to any reduction of, or set-off against, such amounts whatsoever (provided, however, that any payment by LESSEE shall not predjudice LESSXX'x xight to claim adjustment or reimbursement) nor shall this Lease terminate or the obligations of LESSEE be affected by reason of any defect in, damage to or loss of possession, use or destruction of any Vehicle from whatsoever cause, unless such obligations have been terminated pursuant to the express terms hereof.
