Common use of Loss; Damage Clause in Contracts

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular Equipment, Lessee shall pay Lessor on the next date for the payment of rent: the rent then due; plus the value of the Modular Equipment (the “Equipment Value”) as stipulated in the Lease Agreement; plus the value of all destroyed Ancillary Products; less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; plus all applicable Taxes and Fees and/or transfer taxes (together the “Total Loss Amount”). Upon Lessor’s receipt of the Total Loss Amount, Lessee’s lease obligation will terminate and Lessor will transfer available ownership documents to the Modular Equipment to Lessee, unless Lessor agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by Lessee, for the repair of such damage as directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx Lessee’s obligation to pay all rental payments when due.

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular Equipment, Equipment Lessee shall pay Lessor on the next date for the payment of rent: the rent then due; plus the value of the Modular Equipment (the “Equipment Value”) as stipulated in the Lease Agreement; plus the value of all destroyed Ancillary ProductsProducts in accordance with Section 18; less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; plus all applicable Taxes and Fees and/or transfer taxes (together the “Total Loss Amount”). Upon Lessor’s receipt of the Total Loss Amount, Lessee’s lease obligation will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee unless Lessor agrees in writing to dispose of the Modular Equipment and along with any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by Lessee, for the repair of such damage as directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx Lessee’s obligation to pay all rental payments when due. Lessee’s obligation to pay Lessor amounts pursuant to this Section 12 shall be binding upon Lessee in accordance with the terms hereof.

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular Equipment, Lessee shall pay Lessor on the next date for the payment of rent: the rent then due; plus the value of the Modular Equipment (the “Equipment Value”) as stipulated in the Lease Agreement; plus the value of all destroyed Ancillary Products; less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; plus all applicable Taxes and Fees and/or transfer taxes (together the “Total Loss Amount”). Upon LessorXxxxxx’s receipt of the Total Loss Amount, LesseeXxxxxx’s lease obligation will terminate and Lessor will transfer available ownership documents to the Modular Equipment to Lessee, unless Lessor agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by LesseeXxxxxx, for the repair of such damage as directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx LesseeXxxxxx’s obligation to pay all rental payments when due.

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), ) Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular Equipment, Lessee shall pay Lessor Lessor, on the next date for the payment of rent: , the rent then due; due plus the value of the Modular Equipment (the “Equipment Value”) as stipulated in the Lease Agreement; Agreement plus the value of all destroyed Ancillary Products; Value Added Products in accordance with Section 17, less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; , plus all applicable Taxes and Fees sales and/or transfer taxes (together the “Total Loss Amount”). Upon LessorXxxxxx’s receipt of the Total Loss Amount, the Lessee’s lease obligation will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee unless Lessor Xxxxxx agrees in writing to dispose of the Modular Equipment and along with any destroyed Ancillary Value Added Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by Lessee, for the repair of such damage as directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx LesseeXxxxxx’s obligation to pay all rental payments when due. Lessee’s obligation to pay Lessor amounts pursuant to this Section 11 shall be binding upon Lessee in accordance with the terms hereof.

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), ) Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular EquipmentLoss, Lessee shall pay Lessor Lessor, on the next date for the payment of rent: , the rent then due; due plus the value of the Modular Equipment (the “Equipment Value”) as stipulated in the Lease Agreement; Agreement plus the value of all destroyed Ancillary Products; accessories less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; , plus all applicable Taxes and Fees sales and/or transfer taxes (together the “Total Loss Amount”). Upon LessorXxxxxx’s receipt of the Total Loss Amount, the Lessee’s lease obligation will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee unless Lessor Xxxxxx agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at LesseeXxxxxx’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by LesseeXxxxxx, for the repair of such damage as directed by Lessor Xxxxxx to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx LesseeXxxxxx’s obligation to pay all rental payments when due. Lessee’s obligation to pay Lessor amounts pursuant to this Section 10 shall be binding upon Lessee in accordance with the terms hereof.

Loss; Damage. Lessee assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole opinion), ) Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular EquipmentLoss, Lessee shall pay Lessor Lessor, on the next date for the payment of rent: , the rent then due; due plus the value of the Modular Equipment (the “‘Equipment Value”’) as stipulated in the Lease Agreement; Agreement plus the value of all destroyed Ancillary Products; accessories less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; , plus all applicable Taxes and Fees sales and/or transfer taxes (together the “‘Total Loss Amount”’). Upon Lessor’s receipt of the Total Loss Amount, the Lessee’s lease obligation will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee unless Lessor agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lessee, Lessee at its sole cost and expense, shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by Lessee, for the repair of such damage as directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx Lessee’s obligation to pay all rental payments when due. Lessee’s obligation to pay Lessor amounts pursuant to this Section 10 shall be binding upon Lessee in accordance with the terms hereof.

Loss; Damage. Lessee Upon delivery of Equipment and until Equipment is surrendered to the Lessor, Xxxxxx assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole reasonable opinion), ) Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular EquipmentLoss, Lessee shall pay Lessor Lessor, on the next date for the payment of rent: , the rent then due; due plus the value of the Modular Equipment (the “‘Equipment Value”’) as stipulated in the Lease Agreement; Equipment Schedule issued pursuant to the Agreement plus the value of all destroyed Ancillary Products; accessories listed on the Quote Lease, less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; , plus all applicable Taxes and Fees sales and/or transfer taxes (together the “‘Total Loss Amount”’). Upon LessorXxxxxx’s receipt of the Total Loss Amount, the Lessee’s lease obligation will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee or its insurer unless Lessor Xxxxxx agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lesseeto the extent such loss or damage is caused during Xxxxxx’s use or possession of the Equipment, at its sole cost and expense, Lessee shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by LesseeXxxxxx, for the repair of such damage as reasonably directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx LesseeXxxxxx’s obligation to pay all rental payments when duedue (except in the event of a Total Loss and Lessor’s receipt of the Total Loss Amount, in which case the terms of this Agreement state that the lease obligations terminate). Lessee’s obligation to pay Lessor amounts pursuant to this Section 10 shall be binding upon Lessee in accordance with the terms hereof.

Loss; Damage. Upon Substantial Completion of Equipment installation and until Equipment is surrendered to the Lessor, Lessee assumes the risk of all loss and damage to the Equipment from all causes, including loss of use. Upon the occurrence of the total loss of any or all of the Equipment, to such an extent as to make the repair thereof uneconomical (in Lessor’s sole reasonable opinion), ) Lessor shall declare the relevant Equipment a “Total Loss”. In the event of a Total Loss of the Modular EquipmentLoss, Lessee shall pay Lessor Lessor, on the next date for the payment of rent: (a) the rent then due; , (b) plus the replacement value of the Modular Equipment (the “Equipment Value”) as may be stipulated in the Lease Agreement; Proposal, Equipment Schedule or according to Lessor’s records, (c) plus the value of all destroyed Ancillary Products; accessories listed on the Quote Lease which suffered loss, (d) less all insurance proceeds actually paid and/or assigned to Lessor from insurance maintained by Lessee; , (e) plus all applicable Taxes and Fees sales and/or transfer taxes (together the “Total Loss Amount”). Upon LessorXxxxxx’s receipt of the Total Loss Amount, the Lessee’s lease obligation obligations hereunder will terminate and terminate. Lessor will transfer available documents of ownership documents to of the Modular Equipment to Lessee, Lessee or its insurer unless Lessor Xxxxxx agrees in writing to dispose of the Modular Equipment and any destroyed Ancillary Products at Lessee’s sole cost and expense. In the event of loss or damage to any or all of the Equipment that does not constitute a Total Loss, Lesseeto the extent such loss or damage is caused during Xxxxxx’s use or possession of the Equipment, at its sole cost and expense, Lessee shall pay or reimburse Lessor, to the extent Lessor has not been paid or reimbursed from insurance maintained by LesseeXxxxxx, for the repair of such damage as reasonably directed by Lessor to the condition required by this Lease Agreement. Any loss or damage to any or all of the Equipment shall not reduce or otherwise xxxxx LesseeXxxxxx’s obligation to pay all rental payments when duedue (except in the event of a Total Loss and Lessor’s receipt of the Total Loss Amount, in which case the terms of this Agreement state that the lease obligations terminate). Lessee’s obligation to pay Lessor amounts pursuant to this Section 10 shall be binding upon Lessee in accordance with the terms hereof.