Common use of Modifications and Alterations Clause in Contracts

Modifications and Alterations. 4.9.1 Client may modify or alter Equipment subject to the following provisions: i) any Parts owned by IGF which are removed as a result of an Alteration shall remain IGF’s property and shall not be sold by Client. ii) prior to return to IGF, Client may remove any Alterations or Modifications not owned by IGF and restore Equipment to its original condition (ordinary wear and tear excepted) and good working order. iii) if Equipment is returned other than in its original condition (ordinary wear and tear excepted) or not in good working order, Client agrees to pay to IGF any diminution in value of Equipment or the cost to restore Equipment to its original condition (ordinary wear and tear excepted). iv) all Modifications or Alterations not removed before return to IGF shall become IGF property, without charge, free of liens and encumbrances.

Appears in 7 contracts

Samples: Master Financing Agreement, Master Financing Agreement, Master Financing Agreement

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Modifications and Alterations. 4.9.1 Client may modify or alter Equipment subject to the following provisions: i) any Parts owned by IGF which are removed as a result of an Alteration shall remain IGF’s property and shall not be sold by Client. ii) prior to return to IGF, Client may remove any Alterations or Modifications not owned by IGF and restore Equipment to its original condition (ordinary wear and tear excepted) and good working order. iii) if Equipment is returned other than in its original condition (ordinary wear and tear excepted) or not in good working order, Client agrees to pay to IGF any diminution in value of Equipment or the cost to restore Equipment to its original condition (ordinary wear and tear excepted). iv) all Modifications or Alterations not removed before return to IGF shall become IGF property, without charge, free of liens and encumbrances.

Appears in 1 contract

Samples: Master Financing Agreement

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