PERIODIC RENTAL Clause Samples

PERIODIC RENTAL. Periodic Rent shall be due and payable in Euros in respect of each item of Equipment without prior notice or demand by the Lessee on each Rental Payment Date in respect of that item of Equipment during the Initial Term for that item of Equipment.

PERIODIC RENTAL. Lessee shall pay rent ("Periodic Rental") for the Basic Term in the amounts and in accordance with the payment schedule set forth in the Addendum. THIS IS AN IRREVOCABLE LEASE AND, ANY PRESENT OR FUTURE LAW TO THE CONTRARY NOTWITHSTANDING, LESSEE'S OBLIGATION TO PAY LESSOR OR ITS ASSIGNS ALL AMOUNTS DUE HEREUNDER IS ABSOLUTELY UNCONDITIONAL AND THIS LEASE SHALL NOT TERMINATE BY OPERATION OF LAW OR OTHERWISE, EXCEPT UPON EXPIRATION OF THE BASIC TERM AND ANY RENEWAL TERM AND PAYMENT OF ALL AMOUNTS REQUIRED TO BE PAID HEREUNDER. LESSEE SHALL NOT BE ENTITLED TO ANY ABATEMENT, REDUCTION, SETOFF, COUNTERCLAIM, DEFENSE OR DEDUCTION WITH RESPECT TO ANY OF THE RENTALS REQUIRED TO BE PAID HEREUNDER OR ANY OTHER AMOUNTS PAYABLE BY THE LESSEE HEREUNDER, NOR SHALL ANY OBLIGATIONS OF LESSEE HEREUNDER BE AFFECTED FOR ANY REASON WHATSOEVER, NO MATTER HOW, WHEN OR AGAINST WHOM ASSERTED, ARISING OR CLAIMED, provided, however, that Lessee may -------- ------- institute an independent action or claim against Lessor (but not against any collateral assignee of Lessor) for any alleged breach hereof.