Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor in good funds on the Payment Dates specified in the Rental Schedule. Basic Rent is net of , and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease of Lessee, Lessor or any assignee of Lessor and arising out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net lease. Lessee's obligations are not subject to defense, counterclaim, set -off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDED, HOWEVER, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by reference. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties.
Appears in 1 contract
Samples: Master Lease Agreement (American Income Partners v C LTD Partnership)
Lessee's Indemnity. NO WARRANTIES BY LESSOR. ------------------------------------------------------------------- Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Lessor will deliver invoices to Lessee at least thirty days prior to each Payment Date; invoices received by Lessee in any month shall be paid no later than the 25th of the following month. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, Equipment except such costLessee shall not indemnify Lessor against any costs, claims, losses, losses or liabilities resulting from the misconduct Lessor's negligence or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net leasemisconduct. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect operating condition and appearance, reasonable wear and tear excepted. All maintenance and repairs will be made in accordance with Lessee's current maintenance procedures, and Lessee shall maintain records thereof in accordance with its current practices. Lessee will keep the Equipment and its interest therein free and clear of all liens and encumbrances other than those created by Lessor or nonperformance arising out of claims against Lessor and not related to the lease of the Equipment to Lessee. The Rental Schedule may not be assigned by Lessee. Lessee may sublease the Equipment only upon prior written notice to Lessor, PROVIDEDin which notice Lessee represents and warrants to Lessor that such sublease is for a term not longer than the related Lease Term, HOWEVERis not made to a tax-exempt entity or governmental agency, that is specifically made subject to the prior rights of Lessor and its assignees under the Rental Schedule, does not create any obligation on the part of Lessor in favor of such sublessee and does not relieve Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event any of nonperformance by Lessor its obligations under the Rental Schedule including, without limitation, Lessee's obligations with respect to (a) the payment of Basic Rent and this Master other sums due or to become due, (b) use and maintenance of the Equipment and (c) provisions for the return of the Equipment at the expiration of the Lease Agreement as incorporated therein by reference. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warrantiesTerm.
Appears in 1 contract
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net lease. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, . WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties.
Appears in 1 contract
Samples: Master Lease Agreement (American Income Partners v a LTD Partnership)
Lessee's Indemnity. NO WARRANTIES BY LESSOR. ------------------------------------------------------------------ Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Lessor will deliver invoices to Lessee at least thirty days prior to each Payment Date; invoices received by Lessee in any month shall be paid no later than the 25th of the following month. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, Equipment except such costLessee shall not indemnify Lessor against any costs, claims, losses, losses or liabilities resulting from the misconduct Lessor's negligence or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net leasemisconduct. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that --------- ------- Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties.
Appears in 1 contract
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. If payment is to be made by check, the Lessee will mall the check at least four (4) days before the Payment Date. Lessor will exercise its best efforts to invoice Lessee thirty (30) days prior to each Payment Date. Failure to provide timely invoices will not relieve Lessee of its obligation to pay Basic Rent on the Payment Date. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all reasonable costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through claims, provided, however, Lessee shall have the right to appoint legal counsel acceptable to for Lessor, compromise the claim and otherwise control the prosecution or the defense of the claim as Lessee deems advisable. The Rental Schedule is a triple net lease. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate fully with Lessee in asserting any claims under such warrantieswarranties or relating to product liability or strict liability in tort.
Appears in 1 contract
Samples: Master Lease Agreement (American Income Partners v D LTD Partnership)
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Basic Rent is net of , and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, against all operating costs the same as if Lessee owned the Equipment (including, without limitation, maintenance, repair maintenance and insurance costsrepair), third party personal injury or property damage claims (including claims of product liability or strict liability in tort), losses or liabilities relating to Lessee's possession, control, maintenance or repair of the Equipment or its use of such Equipment, that are incurred by or asserted against Lessee, any permitted sublease of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring after Lessee accepts the Equipment and prior to the its return of the Equipment, except such cost, claims, losses, equipment to Lessor or liabilities resulting from the misconduct or negligence of Lessorits designee. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net lease. Lessee's obligations obligations, such as, to pay the Basic Rent are not subject to defense, counterclaim, set -offset-off, abatement or recoupmentecoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under this Agreement including the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. EXCEPT AS OTHERWISE PROVIDED HEREIN, LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties. Lessor warrants that upon the commencement of the Primary Tern with respect to any item of Equipment, the vendor thereof will have been paid the full purchase price thereof by or on behalf of Lessor. Lessor further warrants its ownership of all Equipment leased pursuant to this Lease.
Appears in 1 contract
Samples: Master Lease Agreement (American Income Partners v a LTD Partnership)
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net lease. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by reference. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties.
Appears in 1 contract
Samples: Master Lease Agreement (American Income Partners v B LTD Partnership)
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. Lessor will deliver invoices to Lessee at least thirty days prior to each Payment Date; invoices received by Lessee in any month shall be paid no later than the 25th of the following month. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, Equipment except such costLessee shall not indemnify Lessor against any costs, claims, losses, losses or liabilities resulting from the misconduct Lessor's negligence or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net leasemisconduct. Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to to--Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties.
Appears in 1 contract
Lessee's Indemnity. NO MO WARRANTIES BY LESSOR. ------------------------------------------------------------------- Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on the Payment Dates specified in the Rental Schedule. If payment is to be made by check, the Lessee will mail the check at least four (4) days before the Payment Date. Lessor will exercise its best efforts to invoice Lessee thirty (30) days prior to each Payment Date. Failure to provide timely invoices will not relieve Lessee of its obligation to pay Basic Rent on the Payment Date. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or strict liability in tort), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Rental Schedule is a triple net lease. Provided that Lessor has not breached Lessee's right of quiet possession and use of the Equipment set forth above as incorporated by reference into a Rental Schedule, and in any case after Lessor has assigned the Rental Schedule, Lessee's obligations under a Rental Schedule are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reason, including, without limitation, defect in the Equipment or nonperformance by Lessor, PROVIDEDprovided, HOWEVERhowever, that ----------------- Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. Without limiting the availability of any vendor or manufacturer warranties with respect to the Equipment, LESSOR IN ITS OWN BEHALF HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all manufacturer or vendor warranties and will cooperate with Lessee in asserting any claims under such warranties, including, at Lessee's expense, asserting such claims in Lessor's name on behalf of Lessee.
Appears in 1 contract
Lessee's Indemnity. NO WARRANTIES BY LESSOR. Basic Rent is payable in the amount specified on the Rental Schedule. All payments of Basic Rent shall be made to lessor Lessor in good funds on or before the Payment Dates specified in the Rental Schedule. Lessor will excercise it best efforts to invoice Lessee thirty (30) days prior to each Payment Date, but failure to provide timely invoices will not relieve Lessee of its obligation to pay Basic Rent on the Payment Date. Basic Rent is net of of, and Lessee agrees to pay, and will indemnify and hold Lessor and any assignee of Lessor harmless from and against, all costs (including, without limitation, maintenance, repair and insurance costs), claims (including claims of product liability or liability, strict liability in tort, patent infringement and the like), losses or liabilities relating to the Equipment or its use that are incurred by or asserted against Lessee, any permitted sublease sublessee of Lessee, Lessor or any assignee of Lessor and arising arise out of matters occurring prior to the return of the Equipment, except such cost, claims, losses, or liabilities resulting from the misconduct or negligence of Lessor. Lessee agrees to defend all claims through counsel acceptable to Lessor. The Each Rental Schedule is a triple an irrevocable, absolute, net lease. , and Lessee's obligations are not subject to defense, counterclaim, set -offset-off, abatement or recoupment, and Lessee waives all rights to terminate or surrender the Rental Schedule, for any reasonreason except as expressly set forth in this Master Lease, including, without limitation, defect in the Equipment or nonperformance non-performance by Lessor, PROVIDEDprovided, HOWEVERhowever, that Lessee specifically retains the right to seek recourse against Lessor by way of separate action either at law or in equity in the event of nonperformance breach or non-performance by Lessor under the Rental Schedule and this Master Lease Agreement as incorporated therein by referenceSchedule. LESSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Lessor will assign to Lessee all for the Lease Term and any renewals thereof any assignable manufacturer or vendor warranties with respect to the Equipment and will cooperate with Lessee Lessee, at Lessee's expense, in asserting any claims under such warranties.
Appears in 1 contract