Relocation or Sublease. Upon prior written notice, Customer may relocate Products to any location within the continental United States provided (i) the Products will not be used by an entity exempt from federal income tax and (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by Customer. Customer may sublease the Products upon the reasonable consent of NetWolves and the Secured Party. Such consent to sublease will be granted if: (i) Customer meets the relocation requirements set out above, (ii) the sublease is expressly subject and subordinate to the terms of the Schedule, (iii) Customer assigns its rights in the sublease to NetWolves and the Secured Party as additional collateral and security, (iv) Customer's obligation to maintain and insure the Products is not altered, (v) all financing statements required to continue the Secured Party's prior perfected security interest are filed, and (vi) the sublease is not to a leasing entity affiliated with the manufacturer of the Products described on the Schedule. NetWolves acknowledges Customer's right to sublease for a term which extends beyond the expiration of the Initial Term. If Customer subleases the Products for a term extending beyond the expiration of such Initial Term of the applicable Schedule, Customer shall remain obligated upon the expiration of the Initial Term to return such Products, or, at NetWolves' sole discretion to (i) return Like Products or (ii) negotiate a mutually acceptable lease extension or purchase. If the parties cannot mutually agree upon the terms of an extension or purchase, the term of the Schedule will extend upon the original terms and conditions until terminated pursuant to Section 2. No relocation or sublease will relieve Customer from any of its obligations under this Product Agreement and the applicable Schedule.
Appears in 3 contracts
Samples: Master Program Agreement (Netwolves Corp), Master Program Agreement (Netwolves Corp), Master Program Agreement (Netwolves Corp)
Relocation or Sublease. Upon prior written noticeconsent, Customer Lessee may relocate Products Equipment to any location within the continental United States provided (i) the Products Equipment will not be used by an entity exempt from federal income tax and tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by CustomerLessee. Customer Lessee may sublease the Products Equipment upon the reasonable consent of NetWolves the Lessor and the Secured Party. Such consent to sublease will be granted if: (i) Customer Lessee meets the relocation requirements set out above, (ii) the sublease is expressly subject and subordinate to the terms of the Schedule, (iii) Customer Lessee assigns its rights in the sublease to NetWolves Lessor and the Secured Party as additional collateral and security, (iv) CustomerLessee's obligation to maintain and insure the Products Equipment is not altered, (v) all financing statements required to continue the Secured Party's prior perfected security interest are filed, and (vi) the sublease is not to a leasing entity affiliated with the manufacturer of the Products Equipment described on the Schedule. NetWolves Lessor acknowledges CustomerLessee's right to sublease for a term which extends beyond the expiration of the Initial Term. If Customer Lessee subleases the Products Equipment for a term extending beyond the expiration of such Initial Term of the applicable Schedule, Customer shall Lessee will remain obligated upon the expiration of the Initial Term to return such ProductsEquipment, or, at NetWolves' Lessor's sole discretion to (i) return Like Products Equipment or (ii) negotiate a mutually acceptable lease extension or purchase. If the parties cannot mutually agree upon the terms of an extension or purchase, the term of the Schedule will extend upon the original terms and conditions until terminated pursuant to Section 2. No relocation or sublease will relieve Customer Lessee from any of its obligations under this Product Agreement Master Lease and the applicable relevant Schedule.
Appears in 2 contracts
Samples: Master Lease Agreement (Neomagic Corp), Master Lease Agreement (Cortech Inc)
Relocation or Sublease. Upon prior written notice, Customer Lessee may relocate Products Equipment to any location within the continental United States provided (i) the Products Equipment will not be used by an entity exempt from federal income tax and (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by CustomerLessee. Customer Lessee may sublease the Products Equipment upon the reasonable consent of NetWolves the Lessor and the Secured Party. Such consent to sublease will be granted if: (i) Customer Lessee meets the relocation requirements set out above, (ii) the sublease is expressly subject and subordinate to the terms of the Schedule, (iii) Customer Lessee assigns its rights in the sublease to NetWolves Lessor and the Secured Party as additional collateral and security, (iv) CustomerLessee's obligation to maintain and insure the Products Equipment is not altered, (v) all financing statements required to continue the Secured Party's prior perfected security interest are filed, and (vi) the sublease is not to a leasing entity affiliated with the manufacturer of the Products Equipment described on the Schedule. NetWolves Lessor acknowledges CustomerLessee's right to sublease for a term which extends beyond the expiration of the Initial Term. If Customer Lessee subleases the Products Equipment for a term extending beyond the expiration of such Initial Term of the applicable Schedule, Customer Lessee shall remain obligated upon the expiration of the Initial Term to return such ProductsEquipment, or, at NetWolves' Lessor's sole discretion to (i) return Like Products Equipment or (ii) negotiate a mutually acceptable lease extension or purchase. If the parties cannot mutually agree upon the terms of an extension or purchase, the term of the Schedule will extend upon the original terms and conditions until terminated pursuant to Section 2. No relocation or sublease will relieve Customer Lessee from any of its obligations under this Product Agreement Master Lease and the applicable Schedule.
Appears in 2 contracts
Samples: Master Lease Agreement (Abacus Direct Corp), Master Lease Agreement (First Virtual Holding Inc)
Relocation or Sublease. Upon prior written notice, Customer Lessee may relocate Products Equipment to any location within the continental United States provided (i) the Products Equipment will not be used by an entity exempt from federal income tax and tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by CustomerLessee. Customer Lessee may sublease the Products Equipment upon the reasonable consent of NetWolves the Lessor and the Secured Party. Such consent to sublease will be granted if: if (i) Customer Lessee meets the relocation requirements set out above, (ii) the sublease is expressly subject and subordinate to the terms of the Schedule., (iii) Customer Lessee assigns its rights in the sublease to NetWolves Lessor and the Secured Party as additional collateral and security, (iv) CustomerLessee's obligation to maintain and insure the Products Equipment is not altered, (v) all financing statements required to continue the Secured Party's prior perfected security interest are filed, and (vi) the sublease is not to a leasing entity affiliated with the manufacturer of the Products Equipment described on the Schedule. NetWolves Lessor acknowledges CustomerLessee's right to sublease for a term which extends beyond the expiration of the Initial Term. If Customer Lessee subleases the Products Equipment for a term extending beyond the expiration of such Initial Term of the applicable Schedule, Customer Lessee shall remain obligated upon the expiration of the Initial Term to return such ProductsEquipment, or, at NetWolves' sole discretion Lessor's option to (i) return Like Products Equipment or (ii) negotiate a mutually acceptable lease extension or purchase. If the parties cannot mutually agree upon the terms of an extension or purchase, the term of the Schedule will extend upon the original terms and conditions until terminated pursuant to Section 2. No relocation or sublease will relieve Customer Lessee from any of its obligations under this Product Agreement Master Lease and the applicable Schedule.
Appears in 2 contracts
Samples: Master Lease Agreement (Midcom Communications Inc), Master Lease Agreement (Midcom Communications Inc)
Relocation or Sublease. Upon prior written noticeconsent, Customer Lessee may relocate Products Equipment to any location within the continental United States provided (i) the Products Equipment will not be used by an entity exempt from federal income tax and tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by CustomerLessee. Customer Lessee may sublease the Products Equipment upon the reasonable consent of NetWolves the Lessor and the Secured Party. Such consent to sublease will be granted if: (i) Customer Lessee meets the relocation requirements set out above, (ii) the sublease is expressly subject and subordinate to the terms of the Schedulethis schedule, (iii) Customer Lessee assigns its rights in the sublease to NetWolves Lessor and the Secured Party as additional collateral and security, (iv) CustomerLessee's obligation to maintain and insure the Products Equipment is not altered, (v) all financing statements required to continue the Secured Party's prior perfected security interest are filed, and (vi) the sublease is not to a leasing entity affiliated with the manufacturer of the Products Equipment described on the Schedule. NetWolves Lessor acknowledges CustomerLessee's right to sublease for a term which extends beyond the expiration of the Initial Term. If Customer Lessee subleases the Products Equipment for a term extending beyond the expiration of such Initial Term of the applicable Schedule, Customer shall Lessee will remain obligated upon the expiration of the Initial Term to return such ProductsEquipment, or, at NetWolves' Lessor's sole discretion to (i) return Like Products Equipment or (ii) negotiate a mutually acceptable lease extension or purchase. If the parties cannot mutually agree upon the terms of an extension or purchase, the term of the Schedule will extend upon the original terms and conditions until terminated pursuant to Section 2. No relocation or sublease will relieve Customer Lessee from any of its obligations under this Product Agreement Master Lease and the applicable relevant Schedule.
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