Common use of Lessor's Inspection Rights Clause in Contracts

Lessor's Inspection Rights. Lessor, Owner Participant and the Indenture Trustee each shall have the right, but not the obligation, at their respective sole cost, expense and risk (including, without limitation, the risk of bodily injury or death), by their respective authorized representatives, to inspect (a) the Equipment and Lessee's records with respect thereto, and (b) following the occurrence of a Lease Default and during the continuance thereof, or following notice by Lessee that it will be returning any Unit to Lessor pursuant to Section 10 or Section 22, any sublease of the Equipment and Lessee's records with respect thereto. All inspections shall be conducted during Lessee's normal business hours and upon reasonable prior notice to Lessee. Lessee shall not be liable for any injury to, or the death of, any Person exercising, either on behalf of Lessor, any Owner Participant, the Indenture Trustee or any prospective user, the rights of inspection granted under this Section 13.2 unless caused by Lessee's gross negligence or wilful misconduct. No inspection pursuant to this Section 13.2 shall interfere with the use, operation or maintenance of the Equipment or the normal conduct of Lessee's business, and Lessee shall not be required to undertake or incur any additional liabilities in connection therewith. Upon request by Lessor, which request shall not be made more than once in any calendar year, Lessee, upon three Business Days' prior notice from Lessor, will provide Lessor with reasonable access at Lessee's office where such information is located to information regarding the location and Person in possession of any or all Units as specified in such request; provided that, prior to providing Lessor with access to such information, Lessee and Lessor shall have executed a confidentiality agreement in form and substance reasonably satisfactory to Lessee with respect to such information.

Appears in 1 contract

Samples: Equipment Lease Agreement (Union Tank Car Co)

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Lessor's Inspection Rights. Lessor, Owner Participant and the Indenture Trustee each shall have the right, but not the obligation, at their respective sole cost, expense and risk (including, without limitation, the risk of bodily injury or death), by their respective authorized representatives, to inspect (a) the Equipment and Lessee's maintenance records with respect theretoto the Equipment (consisting of maintenance logs and records, and (b) following the occurrence of a Lease Default sublessee identity and during the continuance thereof, or following notice by Lessee that it will be returning any Unit to Lessor pursuant to Section 10 or Section 22, any sublease of the Equipment and Lessee's records with respect theretolocation). All inspections shall be conducted during Lessee's normal business hours and upon reasonable prior notice to Lessee. Lessee shall not be liable for any injury to, or the death of, any Person exercising, either on behalf of Lessor, any Owner Participant, the Indenture Trustee or any prospective user, the rights of inspection granted under this Section 13.2 unless caused by Lessee's gross negligence or wilful misconduct. No inspection pursuant to this Section 13.2 shall interfere with the use, operation or maintenance of the Equipment or the normal conduct of Lessee's business, and Lessee shall not be required to undertake or incur any additional liabilities in connection therewith. Upon request by Lessor, which request shall not be made more than once in any calendar yearyear (unless an Event of Default shall have occurred and be continuing in which case at any reasonable time), Lessee, upon three Business Days' prior notice from Lessor, will provide Lessor with reasonable access at Lessee's office where such information is located to information regarding the location and Person in possession of any or all Units as specified in such request; provided that, prior to providing Lessor with access to such information, Lessee and Lessor shall have executed a confidentiality agreement in form and substance reasonably satisfactory to Lessee with respect to such information.

Appears in 1 contract

Samples: Equipment Lease Agreement (Union Tank Car Co)

Lessor's Inspection Rights. Lessor, Owner Participant and the Indenture Trustee each shall have the right, but not the obligation, at their respective sole cost, expense and risk (including, without limitation, the risk of bodily injury or death), by their respective authorized representatives, to inspect (a) the Equipment and Lessee's records with respect thereto, and (b) following the occurrence of a Lease Default and during the continuance thereof, or following notice by Lessee that it will be returning any Unit to Lessor pursuant to Section 10 or Section 22, any sublease of the Equipment and Lessee's records with respect thereto. All inspections shall be conducted during Lessee's normal business hours hours, on Lessee's premises or in areas that are not the premises of a sublessee to which Lessee has reasonable access, and upon reasonable prior notice to Lessee. Lessee shall not be liable for any injury to, or the death of, any Person exercising, either on behalf of Lessor, any Owner Participant, the Indenture Trustee or any prospective user, the rights of inspection granted under this Section 13.2 unless caused by Lessee's gross negligence or wilful misconduct. No inspection pursuant to this Section 13.2 shall interfere with the use, operation or maintenance of the Equipment or the normal conduct ordinary course of Lessee's or any sublessee's business, and Lessee shall not be required to undertake or incur any additional liabilities in connection therewith. Upon request by Lessor, which request shall not be made more than once in any calendar year, Lessee, upon three Business Days' prior notice from Lessor, will provide Lessor with reasonable access at Lessee's office where such information is located to information regarding the location and Person in possession of any or all Units as specified in such request; provided that, prior to providing Lessor with access to such information, Lessee and Lessor shall have executed a confidentiality agreement in form and substance reasonably satisfactory to Lessee with respect to such information.

Appears in 1 contract

Samples: Equipment Lease Agreement (Gatx Rail Corp)

Lessor's Inspection Rights. Lessor, Owner Participant -------------------------- and the Indenture Trustee each shall have the right, but not the obligation, at their respective sole cost, expense and risk (including, without limitation, the risk of bodily injury or death), by their respective authorized representatives, to inspect (a) the Equipment and Lessee's records with respect thereto, and (b) following the occurrence of a Lease Default and during the continuance thereof, or following notice by Lessee that it will be returning any Unit to Lessor pursuant to Section 10 or Section 22, any sublease of the Equipment and Lessee's records with respect thereto. All inspections shall be conducted during Lessee's normal business hours hours, on Lessee's premises or in areas that are not the premises of a sublessee to which Lessee has reasonable access, and upon reasonable prior notice to Lessee. Lessee shall not be liable for any injury to, or the death of, any Person exercising, either on behalf of Lessor, any Owner Participant, the Indenture Trustee or any prospective user, the rights of inspection granted under this Section 13.2 unless caused by Lessee's gross negligence or wilful misconduct. No inspection pursuant to this Section 13.2 shall interfere with the use, operation or maintenance of the Equipment or the normal conduct ordinary course of Lessee's or any sublessee's business, and Lessee shall not be required to undertake or incur any additional liabilities in connection therewith. Upon request by Lessor, which request shall not be made more than once in any calendar year, Lessee, upon three Business Days' prior notice from Lessor, will provide Lessor with reasonable access at Lessee's office where such information is located to information regarding the location and Person in possession of any or all Units as specified in such request; provided that, prior to providing Lessor with access to such information, Lessee and Lessor shall have executed a confidentiality agreement in form and substance reasonably satisfactory to Lessee with respect to such information.

Appears in 1 contract

Samples: Equipment Lease Agreement (Gatx Rail Corp)

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Lessor's Inspection Rights. Lessor, Owner Participant and the Indenture Trustee each shall have the right, but not the obligation, at their respective sole costcost and expense (unless, expense in the case of any such expense, a Specified Default or an Event of Default shall have occurred and be continuing) and risk (including, without limitation, the risk of bodily personal injury or death), by their respective authorized representatives, to the extent within Lessee’s control: on not more than one occasion in any 12-month period (unless a Specified Default or an Event of Default shall have occurred and be continuing or during the last 12 months of the Lease Term), to inspect (a) the Equipment and Lessee's ’s records with respect thereto, and (b) following the occurrence of a Lease Default and during the continuance thereof, or following notice by Lessee that it will be returning any Unit to Lessor pursuant to Section 10 or Section 22, any sublease of the Equipment and Lessee's records with respect thereto. All inspections shall be conducted during Lessee's ’s normal business hours and upon reasonable prior notice to Lessee. ; provided, however, that Lessee shall not be liable for any injury to, or the death of, any Person exercising, either on behalf of Lessor, any Owner Participant, the Indenture Trustee Trustee, Loan Participants or any prospective user, the rights of inspection granted under this Section 13.2 unless caused by except as may result or arise from Lessee's ’s gross negligence or wilful willful misconduct. No inspection pursuant to this Section 13.2 shall interfere with the use, operation or maintenance of the Equipment or the normal conduct of Lessee's ’s business, and Lessee shall not be required to undertake or incur any additional liabilities in connection therewith. Upon request by Lessor, which request shall not be made more than once in any calendar year, Lessee, upon three Business Days' prior notice from Lessor, will provide Lessor with reasonable access at Lessee's office where such information is located to information regarding the location and Person in possession of any or all Units as specified in such request; provided that, prior to providing Lessor with access to such information, Lessee and Lessor shall have executed a confidentiality agreement in form and substance reasonably satisfactory to Lessee with respect to such information.Equipment Lease Agreement (KCSR 2005-1) - 18 -

Appears in 1 contract

Samples: Equipment Lease Agreement (Kansas City Southern)

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