Common use of REMEDIES, DEFAULT INTEREST, LATE FEES Clause in Contracts

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o Require you to immediately pay us all rent for the entire Term for any or all Schedules. o Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with us. o Sue you for all rent and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o Require you at your expense to assemble the Equipment at a location we request in the United States of America. o Remove and repossess the Equipment from where it is located, without demand or notice, or make the Equipment inoperable. We have your permission to remove any physical obstructions to removal of the Equipment. We may also disconnect and separate all Equipment from other property. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o You will also pay us the following: o All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o Our reasonable attorney's fees and expenses. o Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate.

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o Require - "Accelerate" this Loan balance under any or all Notes. This means that we may require you to immediately pay us all rent Payments for the entire Term for any or all Schedules. o - Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leasesagreements, loans or other financial arrangements leases that you have with us. o - Sue you xxx for all rent Payments and other amounts you owe us plus the greater of Prepayment Premium (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to yousee Section 1 above). Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o - Require you at your expense to assemble the Equipment Collateral at a location we request in the United Untied States of America. o Remove and repossess the Equipment Collateral from where it is located, without demand or notice, or make the Equipment Collateral inoperable. We have your permission to remove any physical obstructions to removal of the EquipmentCollateral. We may also disconnect and separate all Equipment Collateral from other property. No court order, court hearing or "legal process" will be required for us to repossess the EquipmentCollateral. You will not be entitled to any damages resulting from form removal or repossession of the EquipmentCollateral. We may use, ship, store, repair or lease any Equipment Collateral that we repossess. We may sell any repossessed Equipment Collateral at private or public sale. You give us permission to show the Equipment Collateral to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment Collateral from your location. If we repossess the Equipment Collateral and sell it, it we will give you credit for the net sale price, after subtracting our costs of repossessing and selling the EquipmentCollateral. If we rent the Equipment Collateral to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the EquipmentCollateral, but the credit will be discounted to present value using the a discount rate that we used in calculating your rental payment under equal to the Schedule for the EquipmentDefault Rate. The credit will be applied against what you owe us under this LeaseMaster Agreement, the Schedules Schedules, the Notes and any other leasesagreements, loans or other financial arrangements leases that you have with us. If the credit exceeds the amount you owe under this LeaseMaster Agreement, the Schedules Schedule, the Notes and any other leasesagreements, loans or other financial arrangements leases that you have with us, we will refund the amount of the excess to you. o - Return conditions: Following an Event of Default, at our request you will return the Collateral, freight and insurance prepaid by you, to us at a location we request in the United States of America. It will be returned in good operating condition, as required by Section 5 above. The Collateral will not be subject to any liens when it is returned. All advertising insignia will be removed and the finish will be painted or blended so that nobody can see that advertising insignia used to be there. * You will pack or crate the Collateral for shipping in the original containers, or comparable ones. You will do this carefully and follow all recommendations of the Supplier and the Manufacturer as to packing or crating. * You will also return to us the plans, specifications, operating manuals, software documentation, discs, warranties and other documents furnished by the Manufacturer or Supplier. You will also return to us all service logs and service reports, as well as all written materials that you may have concerning the maintenance and operation of the Collateral. * At our request, you will provide us with up to 60 days free storage of the Collateral at your location, and will let us (or our agent) have access to the Collateral in order to inspect it and sell it. * You will pay us what it costs us to repair the Collateral if you do not return it in the required condition. You will also pay us for the following: o - All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the EquipmentCollateral. o - Our reasonable attorney's fees and expenses. o - Default interest on everything you owe us from the date of your default to the date on which we are paid in fullfull at the Default Rate. The "You realize that the damages we could suffer as a result of your default interest rate" will are very uncertain. This is why we have agreed with you in advance on the Default Rate to be one and one-half (1.5%) percent per month. If this interest rate exceeds used in calculating the highest legal interest rate, payments you will only be required to pay owe us if you default. You agree that, for these reasons, the payments you will owe us if you default interest at the highest legal interest rateare "agreed" or "liquidated" damages. You understand that these payments are not "penalties" or "forfeitures."

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o : (a) Require you to immediately pay us all rent for the entire Term for any or all Schedules. o . (b) Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with us. o Sue . (c) Xxx you for all rent and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o . (d) Require you at your expense to assemble return the Equipment at a location we request in and to comply with all of the United States terms of America. o Remove and repossess Section 7(f) hereof. (e) Exercise any remedy under the Equipment from where it is locatedUniform Commercial Code or as otherwise permitted by law, including, without demand or noticelimitation, or make to the Equipment inoperableextent permitted, retaking and removing the Equipment. We have your permission to remove any physical obstructions to removal of the Equipment. We may also disconnect and separate all Equipment from other property. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you a credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Leaselease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o . (f) We will have all of our rights and remedies under this Lease, the Schedules and all agreements, instruments and documents executed in connection herewith and therewith and all of our rights and remedies under applicable law, whether as a secured party or otherwise. (g) You will also pay us the following: o : (1) All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o . (2) Our reasonable attorney's fees and expenses. o . (3) Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate. (h) You realize that the damages we could suffer as a result of your default are very uncertain. You also realize that the value of an unexpired lease Term is difficult or impossible to calculate. This is why we have agreed with you in advance on the discount rates and default interest rate to be used in calculating the payments you will owe us if you default. You agree that, for these reasons, the payments you will owe us if you default are "agreed" or "liquidated" damages. You understand that these payments are not "penalties" or "forfeitures." (i) You will pay us a late fee whenever you pay any amount that you owe us more than 10 days after it is due. You will pay the late fee within one month after the late payment was originally due. The late fee will be ten (10%) percent of the late payment. If this exceeds the highest legal amount we can charge you; you will only be required to pay the highest legal amount. The late fee is intended to reimburse us for our collection costs that are caused by late payment. It is charged in addition to all other amounts you are required to pay us, including default interest.

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o : (a) Require you to immediately pay us all rent for the entire Term for any or all Schedules. o . (b) Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with us. o . (c) Sue you xxx for all rent and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o . (d) Require you at your expense to assemble return the Equipment at a location we request in and to comply with all of the United States terms of America. o Remove and repossess Section 7(f) hereof. (e) Exercise any remedy under the Equipment from where it is locatedUniform Commercial Code or as otherwise permitted by law, including, without demand or noticelimitation, or make to the Equipment inoperableextent permitted, retaking and removing the Equipment. We have your permission to remove any physical obstructions to removal of the Equipment. We may also disconnect and separate all Equipment from other property. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you a credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Leaselease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o . (f) We will have all of our rights and remedies under this Lease, the Schedules and all agreements, instruments and documents executed in connection herewith and therewith and all of our rights and remedies under applicable law, whether as a secured party or otherwise. (g) You will also pay us the following: o : (1) All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o Our reasonable attorney's fees and expenses. o Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate.This

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o . Require you to immediately pay us all rent for the entire Term for any or all Schedules. o . Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with us. o . Sue you for all rent and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o . Require you at your expense to assemble the Equipment at a location we request in the United States of America. o . Remove and repossess the Equipment from where it is located, without demand or notice, or make the Equipment inoperable. We have your permission to remove any physical obstructions to removal of the Equipment. We may also disconnect and separate all Equipment from other property. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o . You will also pay us the following: o . All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o . Our reasonable attorney's fees and expenses. o . Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate.

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o Require you to immediately pay us all unpaid rent for the entire Term for any or all SchedulesSchedules discounted to present value using a rate of 5% per year. o Require you to immediately pay us all unpaid amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with usus discounted to present value using a rate of 5% per year. o Sue you for all rent and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value will be discounted to present value using a discount rate of five (5%) percent per year. o Require you at your expense to assemble the Equipment at a location we request in the United States of America. o Remove and repossess the Equipment from where it is located, without demand or notice, or make the Equipment inoperableinoperable all to the extent allowed by law and to the extent such action does not breach Lessee's standard security policies and procedures. We have your permission to remove any physical obstructions to removal of the Equipment. We Equipment and we may also disconnect and separate all Equipment from other propertyproperty provided such action does not unreasonably disrupt Lessxx'x xctivities or damage or disrupt the operation of facilities or equipment not subject to the Lease. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o You will also pay us the following: o All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o Our reasonable attorney's fees and expenses. o Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate.

REMEDIES, DEFAULT INTEREST, LATE FEES. If you are in default we may exercise one or more of our "remedies." Each of our remedies is independent. We may exercise any of our remedies, all of our remedies or none of our remedies. We may exercise them in any order we choose. Our exercise of any remedy will not prevent us from exercising any other remedy or be an "election of remedies." If we do not exercise a remedy, or if we delay in exercising a remedy, this does not mean that we are forgiving your default or that we are giving up our right to exercise the remedy. Our remedies allow us to do one or more of the following: o Require you to immediately pay us all rent for the entire Term for any or all Schedules. o Require you to immediately pay us all amounts that you are required to pay us for the entire Term of any other leases, loans or other financial arrangements that you have with us. o Sue you for all rent rent, purchase obligation and other amounts you owe us plus the greater of (1) the actual residual value of the Equipment or (2) the residual value we assumed when we leased it to you. Future rent and residual value purchase obligation will be discounted to present value using a discount rate of five (5%) percent per year. o Require you at your expense to assemble the Equipment at a location we request in the United States of America. o Remove and repossess the Equipment from where it is located, without demand or notice, or make the Equipment inoperable. We have your permission to remove any physical obstructions to removal of the Equipment. We may also disconnect and separate all Equipment from other property. No court order, court hearing or "legal process" will be required for us to repossess the Equipment. You will not be entitled to any damages resulting from removal or repossession of the Equipment. We may use, ship, store, repair or lease any Equipment that we repossess. We may sell any repossessed Equipment at private or public sale. You give us permission to show the Equipment to buyers at your location free of charge during normal business hours. If we do this, we do not have to remove the Equipment from your location. If we repossess the Equipment and sell it, we will give you credit for the net sale price, after subtracting our costs of repossessing and selling the Equipment. If we rent the Equipment to somebody else, we will give you credit for the net rent received, after subtracting our costs of repossessing and renting the Equipment, but the credit will be discounted to present value using the discount rate that we used in calculating your rental payment under the Schedule for the Equipment. The credit will be applied against what you owe us under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us. If the credit exceeds the amount you owe under this Lease, the Schedules and any other leases, loans or other financial arrangements that you have with us, we will refund the amount of the excess to you. o You will also pay us the following: o All our expenses of enforcing our remedies. This includes all our expenses to repossess, store, ship, repair and sell the Equipment. o Our reasonable attorney's fees and expenses. o Default interest on everything you owe us from the date of your default to the date on which we are paid in full. The "default interest rate" will be one and one-half (1.5%) percent per month. If this interest rate exceeds the highest legal interest rate, you will only be required to pay us default interest at the highest legal interest rate.