Common use of Loss of or Damage to Equipment Clause in Contracts

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) place the same in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Value” of the Equipment as set forth in attachment #3 to each Lease (the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) place the same in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance compliance with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Stipulated Loss Value” of the Equipment as set forth in attachment #3 to each Lease Exhibit A (the “Termination Stipulated Loss Value”), whereupon such this Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Stipulated Loss Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s 's option, (a) place the same in good repair, condition and working order, (b) at Lessee’s 's expense, dispose of any Equipment in accordance with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “"Termination Value” " of the Equipment as set forth in attachment #3 to each Lease (the “"Termination Value”"), whereupon such Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) at Lessee’s expense, place the same in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute replace such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and with at least the value, expected end-of-term residual value, function and remaining useful life as the Equipment being replaced, assuming such Equipment being replaced had been maintained in accordance with the provisions of the Lease, and Lessee shall transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement the Lease and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Value” of the Equipment as set forth in attachment #3 to each the applicable Lease (the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. (a) Lessee hereby assumes and shall bear the entire risk of loss for destruction loss, theft, destruction, disappearance of or damage to the any and all Items of Equipment ("Loss or Damage") from any and every cause whatsoever, whether or not insured, whatsoever during the Term hereof until the Equipment is returned to LessorLessor in accordance with Section 13 hereof. No such loss Loss or damage Damage shall impair relieve Lessee of the obligation to pay Rent or of any other obligation under this Lease. (b) In the event of Loss or Damage to any Item of Equipment, Lessee, at the option of Lessee under this Agreementso long as No Event of Default exists hereunder and is continuing, which otherwise at Lessor's option, shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of following such event, at Lessee’s option, Loss or Damage: (a1) place the same such Item of Equipment in good condition and repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute the terms hereof; (2) replace such Item of Equipment with replacement equipment (or any item thereofacceptable to Lessor) with equipment of equivalent or superior manufacture, make, model in as good condition and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, and with the same value, remaining useful economic life and utility, as such replaced Item of Equipment immediately preceding the Loss or Damage (assuming that such replaced Item of Equipment is the condition required by this Lease), which replacement equipment shall be free and working order and transfer clear title to such replacement property of all Liens; or (3) pay to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid due and owing hereunder with respect to such Item of Equipment (at the date time of such payment, ) plus (ii) the then “Termination Value” Stipulated Loss Value as of the Equipment Rent Payment Date next following the date of such Loss or Damage with respect to such Item of Equipment, as set forth on the Schedule applicable thereto. Upon Lessor's receipt of the payment required under subsection (3) above, Lessee shall be entitled to Lessor's interest in attachment #3 such Item of Equipment, in its then condition and location, "as is" and "where is", without any warranties, express or implied. If Lessee replaces the Item of Equipment pursuant to each Lease subsection (the “Termination Value”)b) above, whereupon title to such Lease replacement equipment shall terminate, immediately (and without further act) vest in Lessor and thereupon shall be deemed to constitute Items of Equipment and be fully subject to Section 22this Lease as if originally leased hereunder. If Lessee falls to either restore or replace the Item of Equipment pursuant to subsection (1) or (2) above, solely with respect to respectively, Lessee shall make the Equipment payment under subsection (or any item thereof3) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be appliedabove, provided, however, that in the event option (c) is electedreplacement of such Item of Equipment cannot reasonably be accomplished within such 30 day period, in reduction the period shall be extended to 90 days, provided that Lessee commences acts to replace such Item of Equipment within the 30 day period and thereafter diligently pursues completion of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided thereforreplacement.

Loss of or Damage to Equipment. During the term of the Schedule and until the Equipment either: (A) is made accessible to Lessor or placed in a bonded storage facility in accordance with Section 13.1 herein or (B) is stored on Lessee’s premises after an Early Termination as contemplated by Section 14.1(c), Lessee hereby assumes shall assume and shall bear the entire risk of loss for destruction of or and/or damage to the Equipment from any and every cause whatsoeverwhatsoever except (A) loss or damage caused by the negligence or intentional acts of Lessor or Lessor’s agents or employees, whether or (B) any cause that is not insuredcovered by Lessee’s insurance coverage as required to be maintained by Article 8 (collectively, until a “Covered Loss”). In the event that any or all of the Equipment is returned lost, destroyed, stolen or damaged due to Lessor. No a Covered Loss (each, an “Event of Loss”) during the term of the Schedule, Lessee shall repair such loss Equipment or damage shall impair any obligation replace such Equipment with equipment (a) manufactured by the same company as the Equipment to be replaced, and (b) of Lessee under this Agreementequal or greater value, capacity, and capability as the Equipment to be replaced (“Replacement Equipment”), which shall continue in full force and effect. In event of damage become subject to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of Schedule all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) place the same in good repair, condition and working order, (b) at Lessee’s expense. Any Replacement Equipment shall be transferred to Lessor by Lessee free and clear of all liens and encumbrances except for any liens or encumbrances created by or through Lessor, dispose of any Equipment Lessor’s permitted assignees or otherwise in accordance connection with Applicable Law, substitute such Equipment (this Agreement or any item thereof) with equipment of equivalent applicable Schedule. If Lessee shall have repaired or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to replaced such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property Lessee shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal entitled to the sum proceeds of (i) any claim or right of recovery against any person, firm or corporation liable for such Event of Loss. Lessor shall execute and deliver from time to time such instruments and do such other things as may be necessary to more fully vest in Lessee such proceeds or to effect such assignment, all Rent accrued but unpaid to at Lessee’s cost and expense. To the date extent that an Event of such paymentLoss is not the result of a Covered Loss, plus (ii) Lessor shall assume and bear the then “Termination Value” risk of the Equipment as set forth in attachment #3 to each Lease (the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely with respect loss of and/or damage to the Equipment (or any item thereof) for which due to such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction Event of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided thereforLoss.

Loss of or Damage to Equipment. INSURANCE: Lessee shall be responsible for and hereby assumes and shall bear the entire risk of loss for destruction of or damage to the Equipment being lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use from any and every cause whatsoever, whether or not insured, the date of its shipment to Lessee until the date of return to and receipt therefor by FMA. If any item of Equipment is returned lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use, Lessee shall give FMA immediate notice thereof and the Lease to Lessor. No which such loss or damage shall impair any obligation of Lessee under this Agreement, which Equipment is subject shall continue in full force and effecteffect without any abatement in the Monthly Rent applicable to such item of Equipment. Lessee shall determine, and notify FMA, within 15 days after the date of the occurrence of any damage to any item of Equipment whether such item can be repaired. In the event Lessee determines that such item of damage Equipment can be repaired, Lessee, at its expense, shall cause such item to be promptly repaired. If an item of Equipment is lost, destroyed or theftstolen, loss or destruction if Lessee determines that a damaged item of the Equipment (or any item thereof)cannot be repaired, Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, at FMA's direction, within thirty (30) 30 days of such eventoccurrence, at Lessee’s optioneither replace the item with an identical item of Equipment, (a) place the same title to which shall thereupon vest in good repair, condition FMA and working order, (b) at Lessee’s expense, dispose which thereafter shall be considered the item of any Equipment in accordance subject to the related Schedule with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited no abatement in the Lease related to such EquipmentMonthly Rent applicable thereto or, in good repairFMA's sole discretion, condition and working order and transfer clear title pay to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor FMA an amount equal to the sum of (i) all unpaid Monthly Rent accrued but unpaid to the date in respect of such payment, plus (ii) item of Equipment through the then “Termination Value” end of the Equipment Minimum Term applicable thereto as set forth in attachment #3 to each Lease the related Schedule (or the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely last day of any extended term then in effect with respect to such item) and (ii) FMA's estimate of the fair market value of such item of Equipment at the end of the Minimum Term applicable thereto as set forth in the related Schedule (or at the end of any extended term then in effect with respect to such item). Upon such payment, Lessee's obligation to pay Monthly Rent for such item of Equipment shall cease. Lessee shall cause the Equipment to be insured against loss or damage for not less than the Insurance value set forth in the related Schedule, and shall carry comprehensive general liability and property damage insurance covering the Equipment and its use. All such insurance shall be in form and amount and with companies approved by FMA and shall name FMA (or any item thereofAssignee, as hereinafter defined) as an additional insured, as its interest may appear. Lessee shall pay the premiums for which such insurance and shall deliver said policies or duplicates thereof or certificates thereunder to FMA, together with endorsements thereon or independent instruments whereby each insurer agrees that it will give FMA a right to 30 days written notice before said policies can be altered or cancelled and the right to payment is received by Lessorof premium without obligation. Any insurance The proceeds received with respect to of such insurance, at the Equipment (or any item thereof) option of FMA, shall be applied, in applied (i) toward the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repairreplacement, restoration or replacement has been completedrepair of the Equipment or (ii) toward payment of the obligations of Lessee under the Lessee to which such Equipment is subject. Lessee hereby appoints FMA as Lessee's attorney-in-fact to make claims for, receive payment of, and an invoice has been provided thereforexecute and endorse all documents, checks or drafts for, loss or damage under any said insurance policies.

Loss of or Damage to Equipment. (a) Lessee hereby assumes and shall bear the risk of loss for or theft or destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss other than destruction or damage resulting from the bad faith, gross negligence or willful misconduct of Lessor, as determined pursuant to a final, non-appealable judgment or order of a court of competent jurisdiction. Lessee shall impair provide to Lessor written notice of any obligation occurrence or event resulting in an Event of Lessee under this AgreementLoss (as defined below) or any occurrence or event, which shall continue whether or not constituting an Event of Loss, resulting in full force and effect. In event of damage to or theft, loss or destruction of the any Equipment (or any item or part thereof)) which in the aggregate, Lessee in the reasonable estimate of Lessee, is in excess than $10,000,000. Such notice shall promptly notify Lessor in writing of such fact and of contain all material details with respect thereto. In the case of any Event of Loss, and shall, within thirty (30) days of such event, Lessee shall at Lessee’s option, option (a) use commercially reasonable efforts to repair or rebuild, or otherwise to place the same item or items of Equipment affected by the Event of Loss in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, use commercially reasonable efforts to substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear such title to such replacement property property, free and clear of any and all Liens other than Lessor’s Liens, to Lessor Lessor, whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof (and, at the request of Lessee, title to the replaced property shall concurrently vest in Lessee, free and thereof, clear of all rights of Lessor and shall no longer be subject to this Agreement) or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Stipulated Loss Value” of the affected Equipment as set forth in attachment #3 to each Lease Exhibit D attached hereto (the “Termination Stipulated Loss Value”), whereupon such Lease the lease of the Equipment hereunder shall terminate, subject to Section 2219, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor, and Lessor shall transfer title to such Equipment (which shall be whatever title Lessor had received from Lessee pursuant to the Xxxx of Sale (as defined in the Purchase Agreement)) to Lessee without recourse or warranty other than the absence of any Lessor’s Liens. Any In the event that within 365 days of an Event of Loss, Lessee has not elected option (a) or option (b) above, Lessee will be deemed to have elected option (c), and within 60 days of such date, Lessee shall pay such amounts called for thereby. In the event that any insurance proceeds are received by the Lessor with respect to damage to or loss of any Equipment (or any item thereof) that is to be repaired, replaced or restored pursuant to this Section 11, upon the reasonable request of the Lessee, Lessor shall, promptly after Lessee demonstrates to Lessor that Lessee has complied with the requirements of the first sentence of Section 11(c), remit such proceeds to the segregated bank account referred to in Section 11(c) so that Lessee can, upon providing to Lessor its notice as to the selection of option (a), (b) or (c) above, utilize such insurance proceeds for the purpose of repairing or replacing the affected items of the Equipment or paying the Stipulated Loss Value with respect thereto, as applicable. Upon providing such notice, Lessee shall have the right to access the funds in such bank account for the purposes of paying the costs of such repair, replacement or restoration without any consent of Lessor, unless a Lease Event of Default or an event that, with lapse of time or the giving of notice would mature into a Lease Event of Default if uncured, has occurred and is continuing (in which case Lessor alone shall have the right to direct the application of such funds). For the purposes of this Section 11, any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, (x) in the event option (c) is elected, in reduction to payment of the then unpaid obligationsobligations of Lessee to Lessor hereunder, including the Termination Stipulated Loss Value, of Lessee to Lessor, if the extent not already paid by LesseeLessee to Lessor, or, if already paid by LesseeLessee to Lessor, to reimburse Lessee for such payment, or, or (y) in the event option (a) or (b) is elected, towards the payment of unpaid obligations of Lessee and/or to reimburse Lessee (or Lessee’s affiliates or such other persons as indicated by Lessee, to the extent such affiliates or other persons have paid for the repair, restoration or replacement of the affected Equipment) related to the costs of repairing, restoring or replacing the affected Equipment (or any item thereof) upon receipt by ). If Lessee elects to repair, rebuild or replace the affected Equipment, Lessee shall use commercially reasonable efforts to effect such repair, rebuilding or replacement. At the request of Lessor, Lessee shall promptly provide Lessor of with evidence, satisfactory to which may include invoices for work or equipment, copies of contracts or purchase orders and engineering reports, and other such information reasonably requested by Lessor, that of the progress or completion of such repair, restoration or replacement has been completedreplacement. To the extent that Lessor receives proceeds of insurance with respect to any damages, stolen or destroyed Equipment, and an invoice has been provided thereforsuch proceeds are not applied pursuant to the foregoing, Lessor shall reasonably promptly remit such excess proceeds to Lessee. (b) For purposes of this Section 11, “Event of Loss” shall mean any of the following events with respect to any item of Equipment:

Loss of or Damage to Equipment. INSURANCE: Lessee shall be responsible for and hereby assumes and shall bear the entire risk of loss for destruction of or damage to the Equipment being lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use from any and every cause whatsoever, whether or not insured, the date of its shipment to Lessee until the date of return to and receipt therefor by FMA. If any item of Equipment is returned lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use, Lessee shall give FMA immediate notice thereof and the Lease to Lessor. No which such loss or damage shall impair any obligation of Lessee under this Agreement, which Equipment is subject shall continue in full force and effecteffect without any abatement in the Monthly Rent applicable to such item of Equipment. Lessee shall determine, and notify FMA, within 15 days after the date of the occurrence of xxxxx damage to any item of Equipment whether such item can be repaired. In the event Lessee determines that such item of damage Equipment can be repaired, xxxxxxxx at its expense, shall cause such item to be promptly repaired. If an item of Equipment is lost, destroyed or theftstolen, loss or destruction if Lessee determines that a damaged item of the Equipment (or any item thereof)cannot be repaired, Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, at FMA's direction, within thirty (30) 30 days of such eventoccurrence, at Lessee’s optioneither replace the item with an identical item of Equipment, (a) place the same title to which shall thereupon vest in good repair, condition FMA and working order, (b) at Lessee’s expense, dispose which thereafter shall be considered the item of any Equipment in accordance subject to the related Schedule with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited no abatement in the Lease related to such EquipmentMonthly Rent applicable thereto or, in good repairFMA's sole discretion, condition and working order and transfer clear title pay to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor FMA an amount equal to the sum of (i) all unpaid Monthly Rent accrued but unpaid to the date in respect of such payment, plus (ii) item of Equipment through the then “Termination Value” end of the Equipment Minimum Term applicable thereto as set forth in attachment #3 to each Lease the related Schedule (or the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely last day of any extended term then in effect with respect to such item) and (ii) FMA's estimate of the fair market value of such item of Equipment at the end of the Minimum Term applicable thereto as set forth in the related Schedule (or at the end of any extended term then in effect with respect to such item). Upon such payment, Lessee's obligation to pay Monthly Rent for such item of Equipment shall cease. Lessee shall cause the Equipment to be insured against loss or damage for not less than the insurance value set forth in the related Schedule, and shall carry comprehensive general liability and property damage insurance covering the Equipment and its use. All such insurance shall be in form and amount and with companies approved by FMA and shall name FMA (or any item thereofAssignee, as hereinafter defined) as an additional insured, as its interest may appear. Lessee shall pay the premiums for which such insurance and shall deliver said policies or duplicates thereof or certificates thereunder to FMA, together with endorsements thereon or independent instruments whereby each insurer agrees that it will give FMA a right to 30 days written notice before said policies can be altered or cancelled and the right to payment is received by Lessorof premium without obligation. Any insurance The proceeds received with respect to of such insurance, at the Equipment (or any item thereof) option of FMA, shall be applied, in applied (i) toward the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repairreplacement, restoration or replacement has been completedrepair of the Equipment or (ii) toward payment of the obligations of Lessee under the Lease to which such Equipment is subject. Lessee hereby appoints FMA as Lessee's attorney-in-fact to make claims for, receive payment of, and an invoice has been provided thereforexecute and endorse all documents, checks or drafts for, loss or damage under any said insurance policies.

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the any Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s 's option, (a) place the same in good repair, condition and working order, (b) at Lessee’s 's expense, dispose of such Equipment (or any Equipment item thereof) in accordance with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent under the Lease for such Equipment accrued but unpaid to the date of such payment, plus (ii) the then “Termination Value” Value (as defined below) of the Equipment as set forth in attachment #3 to each Lease (the “Termination Value”)such Equipment, whereupon such Lease shall terminate, subject to Section 22, solely with respect to the such Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.​ ​

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) at Lessee’s expense, place the same in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute replace such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and with at least the value, expected end-of-term residual value, function and remaining useful life as the Equipment being replaced, assuming such Equipment being replaced had been maintained in accordance with the provisions of the Lease, and Lessee shall transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement the Lease and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Value” of the Equipment as set forth in attachment #3 to each the applicable Lease (the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. Lessee hereby assumes and shall bear the risk of loss for destruction of or damage to the Equipment from any and every cause whatsoever, whether or not insured, until the Equipment is returned to Lessor. No such loss or damage shall impair any obligation of Lessee under this Agreement, which shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of such event, at Lessee’s option, (a) place the same in good repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid to the date of such payment, plus (ii) the then “Termination Value” of the Equipment as set forth in attachment #3 to each such Lease (the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely with respect to the Equipment (or any item thereof) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be applied, in the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided therefor.

Loss of or Damage to Equipment. INSURANCE: Lessee shall be responsible for and hereby assumes and shall bear the entire risk of loss for destruction of or damage to the Equipment being lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use from any and every cause whatsoever, whether or not insured, the date of its shipment to Lessee until the date of return to and receipt therefor by FMA. If any item of Equipment is returned lost, damaged, destroyed, stolen or otherwise rendered unfit or unavailable for use, Lessee shall give FMA immediate notice thereof and the Lease to Lessor. No which such loss or damage shall impair any obligation of Lessee under this Agreement, which Equipment is subject shall continue in full force and effecteffect without any abatement in the Monthly Rent applicable to such item of Equipment. Lessee shall determine, and notify FMA, within 15 days after the date of the occurrence of any damage to any item of Equipment whether such item can be repaired. In the event Lessee determines that such item of damage Equipment can be repaired, Lessee, at its expense, shall cause such item to be promptly repaired. If an item of Equipment is lost, destroyed or theftstolen, loss or destruction if Lessee determines that a damaged item of the Equipment (or any item thereof)cannot be repaired, Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, at FMA's direction, within thirty (30) 30 days of such eventoccurrence, at Lessee’s optioneither replace the item with an identical item of Equipment, (a) place the same title to which shall thereupon vest in good repair, condition FMA and working order, (b) at Lessee’s expense, dispose which thereafter shall be considered the item of any Equipment in accordance subject to the related Schedule with Applicable Law, substitute such Equipment (or any item thereof) with equipment of equivalent or superior manufacture, make, model and features, unless this option is expressly prohibited no abatement in the Lease related to such EquipmentMonthly Rent applicable thereto or, in good repairFMA's sole discretion, condition and working order and transfer clear title pay to such replacement property to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor FMA an amount equal to the sum of (i) all unpaid Monthly Rent accrued but unpaid to the date in respect of such payment, plus (ii) item of Equipment through the then “Termination Value” end of the Equipment Minimum Term applicable thereto as set forth in attachment #3 to each Lease the related Schedule (or the “Termination Value”), whereupon such Lease shall terminate, subject to Section 22, solely last day of any extended term then in effect with respect to such item) and (ii) FMA's estimate of the fair market value of such item of Equipment at the end of the Minimum Term applicable thereto as set forth in the related Schedule (or at the end of any extended term then in effect with respect to such item). Upon such payment, Lessee's obligation to pay Monthly Rent for such item of Equipment shall cease. Lessee shall cause the Equipment to be insured against loss or damage for not less than the insurance value set forth in the related Schedule, and shall carry comprehensive general liability and property damage insurance covering the Equipment and its use. All such insurance shall be in form and amount and with companies approved by FMA and shall name FMA (or any item thereofAssignee, as hereinafter defined) as an additional insured, as its interest may appear. Lessee shall pay the premiums for which such insurance and shall deliver said policies or duplicates thereof or certificates thereunder to FMA, together with endorsements thereon or independent instruments whereby each insurer agrees that it will give FMA a right to 30 days written notice before said policies can be altered or cancelled and the right to payment is received by Lessorof premium without obligation. Any insurance The proceeds received with respect to of such insurance, at the Equipment (or any item thereof) option of FMA, shall be applied, in applied (i) toward the event option (c) is elected, in reduction of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repairreplacement, restoration or replacement has been completedrepair of the Equipment or (ii) toward payment of the obligations of Lessee under the Lease to which such Equipment is subject. Lessee hereby appoints FMA as Lessee's attorney-in-fact to make claims for, receive payment of, and an invoice has been provided thereforexecute and endorse all documents, checks or drafts for, loss or damage under any said insurance policies.

Loss of or Damage to Equipment. (a) Lessee hereby assumes and shall bear the entire risk of loss for destruction loss, theft, destruction, disappearance of or damage to the any and all Items of Equipment ("Loss or Damage") from any and every cause whatsoever, whether or not insured, whatsoever during the Term hereof until the Equipment is returned to LessorLessor in accordance with Section 13 hereof. No such loss Loss or damage Damage shall impair relieve Lessee of the obligation to pay Rent or of any other obligation under this Lease. (b) In the event of Loss or Damage to any Item of Equipment, Lessee, at the option of Lessee under this Agreementso long as No Event of Default exists hereunder and is continuing, which otherwise at Lessor's option, shall continue in full force and effect. In event of damage to or theft, loss or destruction of the Equipment (or any item thereof), Lessee shall promptly notify Lessor in writing of such fact and of all details with respect thereto, and shall, within thirty (30) days of following such event, at Lessee’s option, Loss or Damage: (a1) place the same such Item of Equipment in good condition and repair, condition and working order, (b) at Lessee’s expense, dispose of any Equipment in accordance with Applicable Law, substitute the terms hereof; (2) replace such Item of Equipment with replacement equipment (or any item thereofacceptable to Lessor) with equipment of equivalent or superior manufacture, make, model in as good condition and features, unless this option is expressly prohibited in the Lease related to such Equipment, in good repair, and with the same value, remaining useful economic life and utility, as such replaced Item of Equipment immediately preceding the Loss or Damage (assuming that such replaced Item of Equipment is the condition required by this 83 7 Lease), which replacement equipment shall be free and working order and transfer clear title to such replacement property of all Liens; or (3) pay to Lessor whereupon such property shall be subject to this Agreement and the applicable other Lease Documents and be deemed Equipment for purposes hereof and thereof, or (c) pay Lessor an amount equal to the sum of (i) all Rent accrued but unpaid due and owing hereunder with respect to such Item of Equipment (at the date time of such payment, ) plus (ii) the then “Termination Value” Stipulated Loss Value as of the Equipment Rent Payment Date next following the date of such Loss or Damage with respect to such Item of Equipment, as set forth on the Schedule applicable thereto. Upon Lessor's receipt of the payment required under subsection (3) above, Lessee shall be entitled to Lessor's interest in attachment #3 such Item of Equipment, in its then condition and location, "as is" and "where is", without any warranties, express or implied. If Lessee replaces the Item of Equipment pursuant to each Lease subsection (the “Termination Value”)b) above, whereupon title to such Lease replacement equipment shall terminate, immediately (and without further act) vest in Lessor and thereupon shall be deemed to constitute Items of Equipment and be fully subject to Section 22this Lease as if originally leased hereunder. If Lessee falls to either restore or replace the Item of Equipment pursuant to subsection (1) or (2) above, solely with respect to respectively, Lessee shall make the Equipment payment under subsection (or any item thereof3) for which such payment is received by Lessor. Any insurance proceeds received with respect to the Equipment (or any item thereof) shall be appliedabove, provided, however, that in the event option (c) is electedreplacement of such Item of Equipment cannot reasonably be accomplished within such 30 day period, in reduction the period shall be extended to 90 days, provided that Lessee commences acts to replace such Item of Equipment within the 30 day period and thereafter diligently pursues completion of the then unpaid obligations, including the Termination Value, of Lessee to Lessor, if not already paid by Lessee, or, if already paid by Lessee, to reimburse Lessee for such payment, or, in the event option (a) or (b) is elected, to reimburse Lessee for the costs of repairing, restoring or replacing the Equipment (or any item thereof) upon receipt by Lessor of evidence, satisfactory to Lessor, that such repair, restoration or replacement has been completed, and an invoice has been provided thereforreplacement.