LESSEE STATEMENT Sample Clauses
The LESSEE STATEMENT clause requires the lessee to provide a formal written declaration regarding specific facts or conditions related to the lease, such as confirming the lease's status, compliance with its terms, or the absence of defaults. Typically, this statement may be requested by the lessor or a third party, such as a lender or potential buyer, to verify the current standing of the lease agreement. Its core practical function is to ensure transparency and provide reliable information to interested parties, thereby facilitating transactions or due diligence processes involving the leased property.
LESSEE STATEMENT. Lessee hereby states that it has read and understands all of the terms and conditions contained herein, including, but not limited to (i) the disclaimer found in the DISCLAIMER Section of this Lease by Lessor of, among other things, any warranty obligations on the part of Lessor to the Lessee concerning the Aircraft leased pursuant to this Lease or any component thereof, including, without limitation, any warranty as to design, compliance with specifications, quality of materials or workmanship, merchantability, fitness for any purpose, use or operation, safety, patent, trademark or copyright infringement or title and Lessee hereby agrees to waive and disclaim any rights it would otherwise have against Lessor for such warranty obligations and (ii) the provisions of the NET LEASE Section of this Lease which provide that the Lessee’s obligations under this Lease, including, but not limited to, its obligations to pay Rent to Lessor, shall not be affected by reason of any defect in or damage to, or loss of possession, use or destruction of the Aircraft from whatsoever cause. Without limiting the generality of the foregoing, Lessee understands and agrees as follows:
(a) Lessee has waived, and reaffirms its waiver in favor of Lessor, all legal rights of Lessee found in Louisiana Civil Code Articles 2693, 2694, 2695, 2697, 2699, 2700 and 2728.
(b) Lessee has selected the Aircraft leased pursuant to this Lease and requested Lessor to purchase such Aircraft.
(c) Lessee has waived and reaffirms its waiver of any warranty granted Lessee under Louisiana law as to any vices or defects in the Aircraft which may prevent the Aircraft being used for its intended purposes.
(d) Lessee has all obligations to maintain and repair the Aircraft, subject to the terms of the Lease.
(e) Lessee shall still pay Rent to Lessor if the Aircraft is lost, stolen, destroyed, damaged or cannot be used for its intended purpose for any reason, subject to the terms of the Lease.
(f) Lessee has accepted the Aircraft subject to this Lease and accepts full responsibility if the Aircraft was not properly installed, does not operate as represented by the Supplier of the Aircraft or is unsatisfactory for any reason, subject to the terms of the Lease. In addition, Lessee understands that Lessor and the Supplier are separate entities. The Supplier is not the agent of Lessor and Lessor is not the agent of the Supplier. No claim or cause of action Lessee might have against the Supplier or any other party...
LESSEE STATEMENT. Lessee shall within ten (10) business days following written request by Lessor execute and deliver to Lessor any documents, including estoppel certificates, in a mutually acceptable form prepared by Lessor which shall provide the following information:
(a) certifying that this Lease is unmodified and in full force and effect or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and effect and the date to which the Rent and other charges are paid in advance, if any;
(b) acknowledging that there are not, to Lessee’s knowledge, any uncured defaults on the part of the Lessor or stating the nature of any uncured defaults;
(c) certifying the current Rent amount and the amount and form of Security Deposit on deposit with Lessor; and
(d) certifying to such other information as Lessor, Lessor’s agents, mortgagees, prospective mortgagees and purchasers may reasonably request. Lessee’s failure to deliver an estoppel certificate within ten (10) business days after delivery of Lessor’s written request therefor shall be conclusive upon Lessee:
(a) that this Lease is in full force and effect, without modification except as may be represented by Lessor;
(b) that there are now no uncured defaults in Lessor’s performance;
(c) that not more than one (1) month’s Rent has been paid in advance; and
(d) that the other information requested by Lessor is correct as stated in the form presented by Lessor.