Common use of OWNERSHIP AND INSPECTION Clause in Contracts

OWNERSHIP AND INSPECTION. (a) This is a contract of lease only and Lessee shall have no equity or property interest in the Equipment other than the rights acquired as a Lessee hereunder and the Equipment shall remain personal property regardless of the manner in which it may be installed or attached. Lessee shall not, without Lessor's prior written consent, install or use the Equipment in such a manner or in such circumstances that any part of the Equipment is deemed to be an accession to other personal property. The Lessee shall, at Lessor's request, affix to the Equipment tags, decals or plates furnished by Lessor indicating Lessor's ownership and Lessee shall not permit the removal or concealment thereof. (b) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessor. Lessee shall discharge, at its own expense, any liens or encumbrances filed against the Equipment, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENT, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF LESSEE BY MERGER, CONSOLIDATION OR PURCHASE. Upon any permitted assignment or sublease, Lessee shall execute and deliver to Lessor, or any assignee of Lessor, at Lessee's expense, such documentation as Lessor or such assignee may require, including but not limited to documentation to evidence and put third parties on notice of Lessor's or is assignees' interest in the Equipment. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder. (c) Lessor or its agents shall have free access to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this Lease. (d) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, functioning or operation of the Equipment.

OWNERSHIP AND INSPECTION. (a) This is a contract of lease only and Lessee shall have no equity or property interest in the Equipment other than the rights acquired as a Lessee lessee hereunder and the Equipment shall remain personal property regardless of the manner in which it may be installed or attached. Lessee shall not, without Lessor's prior written consent, install or use the Equipment in such a manner or in such circumstances that any part of the Equipment is deemed to be an accession to other personal property. The Lessee Lessee, shall, at Lessor's request, affix to the Equipment tags, decals decals, or plates furnished by Lessor indicating LessorOwner's ownership and Lessee shall not permit the their removal or concealment thereofconcealment. (b) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessor. Lessee shall dischargenot assign or otherwise encumber this Lease or any of its rights hereunder or sublease the Equipment or any parts of the Equipment without Lessor's prior written consent, except that Lessee, subject to the provisions of Section 5(e) hereof, at its own expenseexpense and upon prior written notice to Lessor, may assign this Lease or sublease the Equipment to its parent or any liens subsidiary corporation or encumbrances filed against to a corporation which shall have acquired all or substantially all of the Equipmentproperty of Lessee by merger, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENTconsolidation, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF LESSEE BY MERGER, CONSOLIDATION OR PURCHASEor purchase. Upon any permitted assignment or sublease, Lessee shall execute and deliver to Lessor, or any assignee of Lessor, at Lessee's expense, such documentation as Lessor or such assignee may require, including but not limited to documentation to evidence and put third parties on notice of Lessor's or is assignees' its assignee's interest in the Equipment. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder. (c) Lessor or its agents shall have free access to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this Lease. Lessee shall make Lessee's log and maintenance records pertaining to the Equipment available during any such inspection. (d) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, functioning functioning, or operation of the Equipment.

OWNERSHIP AND INSPECTION. Lessor has an undivided senior ownership ------------------------ interest in the pool of Equipment described on Exhibit A hereto (athe "Senior Ownership Intererst") This is represented by a contract Senior Ownership Certificate substantially in the form of lease only and Exhibit A-1. Lessee shall have no equity or property has an undivided residual junior subordinated ownership interest in the Equipment described on Exhibit A hereto (the "Residual Ownership Interest") represented by a Residual Ownership Certificate substantially in the form of Exhibit A-2 hereto, which has been pledged and assigned to the Lessor as security for the Lessee's payment obligations under this Agreement. Lessee hereby acknowledges and agrees that it has no title to the Lessor's Senior Ownership Interest in the Equipment, and by the execution of this Agreement it does not have or obtain, and by payment or performance under this Agreement (except as provided in Section 20 hereof) it does not and will not obtain title to the Senior Ownership Interest in the Equipment, nor any property right or other than interest in the rights acquired Equipment except solely as a Lessee hereunder and subject to the Equipment shall remain personal property regardless terms of the manner in which it may be installed or attachedthis Agreement. Lessee shall not, without agrees that upon Lessor's prior written consent, install or use the Equipment in such a manner or in such circumstances that any part of the Equipment is deemed to be an accession to other personal property. The Lessee shall, at Lessor's request, affix to the Equipment tags, decals or plates furnished by Lessor indicating Lessor's ownership and Lessee shall not permit the removal or concealment thereof. (b) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessor. Lessee shall discharge, at its own expense, any liens or encumbrances filed against the Equipment, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENT, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF LESSEE BY MERGER, CONSOLIDATION OR PURCHASE. Upon any permitted assignment or sublease, Lessee shall request it will execute and deliver to LessorLessor or its assignee, or any assignee of Lessor, at Lessee's expenseif any, such documentation Uniform Commercial Code financing statements or other similar or substitute documents as Lessor or such assignee may require, including but not limited are necessary to documentation to evidence and put third parties on notice of protect Lessor's or is assignees' its assignee's right, title and interest in and to the EquipmentEquipment as represented by the Senior Ownership Certificate and Lessor's security interest in and lien on Lessee's Residual Ownership Interest in the Equipment as represented by the Residual Ownership Certificate. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder. (c) agrees that upon reasonable prior written notice Lessor or its and Lessor's agents shall have free access the right to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this Lease. (d) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, functioning or operation of inspect the Equipment.

OWNERSHIP AND INSPECTION. (a) This is a contract of lease only and Lessee shall have no equity or property interest in the Equipment other than the rights acquired as a Lessee hereunder lessee hereunder. The Equipment is and the Equipment shall always remain personal property regardless of the manner in which it may be installed or attachedseparate identifiable personality. Lessee shall notnot permit any item of Equipment to be installed in, without Lessor's prior written consentor used, install stored or use the Equipment maintained with, any real property in such a manner or in under such circumstances that any part person might acquire any rights in such item of Equipment paramount to the rights of Lessor by reason of such item of Equipment is being deemed to be an accession to other personal real property or a fixture thereon. Lessee shall, promptly upon request of Lessor, obtain a written acknowledgement from the owner and/or mortgagee(s) of the real property at which such item of Equipment is located that such owner and/or mortgagee(s) will not at any time assert any interest in such item of Equipment or that such item of Equipment constitutes part of such real property. The Lessee shall, at Lessor's request, affix to the Equipment in a prominent place or places, tags, decals or plates furnished by Lessor Lessor, indicating Lessor's ownership and Lessee shall not permit the their removal or concealment thereofconcealment. (b) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessor. Lessee shall discharge, at its own expense, any liens or encumbrances filed against the Equipment, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENT, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL WITHOUT THE PRIOR WRITTEN CONSENT OF THE PROPERTY OF LESSEE BY MERGERLESSOR, CONSOLIDATION OR PURCHASE. Upon any permitted assignment or subleaseexcept that Lessee, Lessee shall execute and deliver upon prior written notice to Lessor, may assign this Lease or sublease the Equipment to its parent or any assignee subsidiary corporation, or to a corporation which shall have acquired all or substantially all of Lessorthe property of Lessee by merger, at Lessee's expense, such documentation as Lessor consolidation or such assignee may require, including but not limited to documentation to evidence and put third parties on notice of Lessor's or is assignees' interest in the Equipmentpurchase. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder and any permitted sublease or assignment shall be by its terms expressly subject and subordinate to the terms of this Lease Agreement and the rights of the Lessor hereunder. (c) Lessor or its agents shall have free access to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this Lease. (d) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, functioning or operation of the Equipment.

OWNERSHIP AND INSPECTION. (a) This is a contract of lease only and Lessee shall have no equity or property interest in the Equipment other than the rights acquired as a Lessee lessee hereunder and the Equipment shall remain personal property regardless of the manner in which it may be installed or attached. Lessee shall not, without Lessor's prior written consent, install or use the Equipment in such a manner or in such circumstances that any part of the Equipment is deemed to be an accession to other personal property. The Lessee shall, at Lessor's request, affix to the Equipment tags, decals decals, or plates furnished by Lessor indicating LessorOwner's ownership and Lessee shall not permit the their removal or concealment thereofconcealment. (b) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessor. Lessee shall dischargenot assign or otherwise encumber this Lease or any of its rights hereunder or sublease the Equipment or any parts of the Equipment without Lessor's prior written consent, except that Lessee, subject to the provisions of Section 5(e) hereof, at its own expenseexpense and upon prior written notice to Lessor, may assign this Lease or sublease the Equipment to its parent or any liens subsidiary corporation or encumbrances filed against to a corporation which shall have acquired all or substantially all of the Equipmentproperty of Lessee by merger, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENTconsolidation, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF LESSEE BY MERGER, CONSOLIDATION OR PURCHASEor purchase. Upon any permitted assignment or sublease, Lessee shall execute and deliver to Lessor, or any assignee of Lessor, at Lessee's expense, such documentation as Lessor or such assignee may require, including but not limited to documentation to evidence and put third parties on notice of Lessor's or is assignees' its assignee's interest in the Equipment. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder. (c) Lessor or its agents shall have free access to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this Lease. Lease shall make Lessee's log and maintenance records pertaining to the Equipment available during any such inspection. (d) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, functioning functioning, or operation of the Equipment.

OWNERSHIP AND INSPECTION. (a) This is a contract of lease only and Lessee shall have no equity or property interest in the Equipment other than the rights acquired as a Lessee hereunder and the The Equipment shall at all times remain personal the property regardless of the manner in which it Lessor. Lessor may be installed affix or attached. request Lessee shall not, without Lessor's prior written consent, install or use the Equipment in such a manner or in such circumstances that any part of the Equipment is deemed to be an accession to other personal property. The Lessee shall, at Lessor's request, affix to the Equipment tags, decals or plates furnished by Lessor to the Equipment indicating Lessor's ’s ownership and Lessee shall not permit the their removal or concealment thereofconcealment. (b) It is the intention and understanding of both Lessor and Lessee that the Equipment shall be and at all times remain separately identifiable personal property. Lessee shall not permit the Equipment to be installed in, or used, stored or maintained with, any personal property in such manner or under such circumstances that such Equipment might be or become an accession to or confused with such other personal property; provided, however, that the use or maintenance in accordance with normal operating procedures of Lessee of the Equipment with any other computer equipment owned by or leased to Lessee shall not be a violation of the foregoing provisions of this sentence. Lessee shall not permit the Equipment to be installed in or used, stored, or maintained with, any real property in such a manner or under such circumstances that any person might acquire any rights in such Equipment paramount to the rights of Lessor by reason of such Equipment being deemed to be real property or a fixture thereon any upgrade leased to Lessee by Lessor hereunder shall be described on an Equipment Schedule referring to the Equipment Schedule covering the underlying unit to which the upgrade is attached. (c) Lessee shall keep the Equipment free and clear of all liens and encumbrances except liens or encumbrances arising through the actions or omissions of Lessorencumbrances. Lessee shall dischargenot assign this agreement or any of its rights hereunder or sublease the Equipment without the prior written consent of Lessor, except that Lessee may, at its own expense, any liens or encumbrances filed against the Equipment, except liens and encumbrances created by Lessor. LESSEE SHALL NOT ASSIGN OR OTHERWISE ENCUMBER THIS LEASE OR ANY OF ITS RIGHTS HEREUNDER OR THE EQUIPMENT, EXCEPT THAT LESSEE, AT ITS EXPENSE AND UPON PRIOR WRITTEN NOTICE TO LESSOR, MAY ASSIGN THIS LEASE OR SUBLEASE THE EQUIPMENT TO ITS PARENT OR ANY SUBSIDIARY CORPORATION OR TO A CORPORATION WHICH SHALL HAVE ACQUIRED ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF LESSEE BY MERGER, CONSOLIDATION OR PURCHASE. Upon any permitted assignment or sublease, Lessee shall execute and deliver upon prior written notice to Lessor, assign this Agreement or sublease the Equipment to any assignee parent or subsidiary corporation, or to a corporation which shall have acquired all or substantially all of Lessorthe property of Lessee by merger, at Lessee's expense, such documentation as Lessor consolidation or such assignee may require, including but not limited to documentation to evidence and put third parties on notice of Lessor's or is assignees' interest in the Equipmentpurchase. No permitted assignment or sublease shall relieve Lessee of any of its obligations hereunder. (cd) Lessor or its agents shall have free access to the Equipment and any maintenance records kept by the Lessee which pertain to the Equipment at all reasonable times for the purpose of inspection and for any other purpose contemplated in this LeaseAgreement. (de) Lessee shall immediately notify Lessor of all details concerning any damage to, or loss of, the Equipment arising out of any event or occurrence whatsoever, including, but not limited to, the alleged or apparent improper manufacture, maintenance, care, functioning or operation of the Equipment.