Common use of Rental Contracts Clause in Contracts

Rental Contracts. Dealer may rent the Inventory financed by DFS or against which DFS has advanced funds pursuant to the terms of Dealer's rental contracts ("Rental Contracts"). Such Inventory will thereafter be subject to the rates and terms of DFS' financing program in effect for goods which are rented, as reflected in the Statement of Transaction for such Inventory. All of Dealer's Rental Contracts, agreements, and rental transactions will be in a form satisfactory to DFS and will be in accordance with all applicable Federal, State and local laws. Dealer will indemnify DFS against any loss or damage which DFS suffers, whether direct or indirect, resulting in any way from the Rental Contracts, agreements, or rental transactions which fail to comply with such laws. All Rental Contracts will be transferable to DFS. Dealer will indemnify DFS against any claims by its customers regarding Dealer's obligations under the Rental Contracts. Dealer will immediately, upon DFS' request, deliver to DFS all Rental Contracts and all related documents. This assignment is a transfer for security only, and, until DFS has foreclosed its interest in the Rental Contracts, will not be deemed to delegate any of Dealer's duties under the Rental Contracts to DFS, nor is it intended to alter or impair performance by either party to the Rental Contracts. DFS may, from time to time, verify the accuracy of the Rental Contracts, and Dealer will immediately, upon DFS' request, provide DFS with the following information regarding Rental Contracts which are in effect on the date of such request: (a) the name, address and telephone number of each customer who has executed a Rental Contract; (b) the location of the Inventory; (c) the date of each Rental Contract; (d) the date when the Inventory is to be returned under each Rental Contract; and, (e) any other information which DFS may reasonably request. If the rental period under the Rental Contract is ninety (90) days or longer, Dealer will stamp the original of such Rental Contract with the following legend: `FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO DEUTSCHE FINANCIAL SERVICES CORPORATION AND THERE ARE NO DEFENSES AGAINST THE ASSIGNEE.' Other than to DFS, Dealer will not assign, sell, pledge, convey or by any other means transfer any Rental Contracts or chattel paper, without DFS' prior written consent. Dealer will not enter into any Rental Contracts for Inventory financed by DFS or against which DFS has advanced funds pursuant to which: (i) the original term of the Rental Contract is greater than three hundred sixty (360) days; (ii) the original term of the Rental Contract is equal to or greater than the remaining economic life of such Inventory; (iii) the customer is bound to renew the Rental Contract for the economic life of such Inventory or is bound to become the owner of such Inventory; or, (iv) the customer has an option to renew the Rental Contract for the remaining economic life of such Inventory, or to become the owner of such Inventory, for nominal consideration, or for consideration which is less than the unpaid balance owed to DFS for such Inventory. If any such Rental Contracts are issued, Dealer will take any action which DFS may reasonably require to perfect and/or protect DFS' security interest in such Rental Contracts and/or the Inventory subject thereto.

Rental Contracts. Dealer may rent the Inventory inventory financed by DFS CDF or against which DFS CDF has advanced funds pursuant to the terms terns of Dealer's ’s rental contracts ("“Rental Contracts"”). Such Inventory inventory will thereafter be subject to the rates and terms of DFS' CDF’s financing program in effect for goods which are rented, as reflected in the Statement of Transaction SOT for such Inventoryinventory. All of Dealer's Dealers Rental Contracts, agreements, and rental transactions will be in a form satisfactory to DFS CDF and will be in accordance conform with all applicable Federal, State and local laws. Dealer will indemnify DFS CDF against any loss or damage which DFS CDF suffers, whether direct or indirect, resulting in any way from the Rental Contracts, agreements, or rental transactions which fail to comply with such laws. All Rental Contracts will be transferable to DFSCDF. Dealer will indemnify DFS CDF against any claims by its customers regarding Dealer's ’s obligations under the Rental Contracts. Dealer will immediately, upon DFS' request, CDF’s request deliver to DFS CDF all Rental Contracts and all related documents. This assignment is a transfer for security only, and, until DFS CDF has foreclosed its interest in the Rental Contracts, will not be deemed to delegate any of Dealer's ’s duties under the Rental Contracts to DFSCDF, nor is it a intended to alter or impair performance by either party to the Rental Contracts. DFS CDF may, from time to time, verify the accuracy of the Rental Contracts, and . Dealer will immediately, upon DFS' CDF’s request, provide DFS CDF with the following information regarding Rental Contracts which are in effect on the date of such request: (a) the name, address and telephone number of each customer who has executed a Rental Contract; (b) the location of the Inventoryinventory; (c) the date of each Rental Contract; (d) the date when the Inventory inventory is to be returned under each Rental Contract; Contract and, (e) any other information which DFS CDF may reasonably request. If the rental period under the Rental Contract is ninety (90) days or longer, Dealer will stamp the original of such Rental Contract with the following legend: `FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO DEUTSCHE FINANCIAL SERVICES CORPORATION AND THERE ARE NO DEFENSES AGAINST THE ASSIGNEE.' Other than to DFSCDF, Dealer will not assign, sell, pledge, convey or by any other means transfer any Rental Contracts or chattel paperpaper covering inventory financed by CDF that are for a term of thirty-two (32) days or more, without DFS' CDF’s prior written consent. Dealer will not enter into any Rental Contracts for Inventory inventory financed by DFS CDF or against which DFS CDF has advanced funds pursuant to which: (i) the original term of the Rental Contract is greater than three hundred sixty ninety (36090) days; (ii) the original term of the Rental Contract is equal to or greater than the remaining economic life of such Inventoryinventory; (iii) the customer is bound to renew the Rental Contract for the economic life of such Inventory inventory or is bound to become the owner of such Inventoryinventory; or, (iv) the customer has an option to renew the Rental Contract for the remaining economic life of such Inventoryinventory, or to become the owner of such Inventoryinventory, for nominal consideration, or for consideration which is less than the unpaid balance owed to DFS CDF for such Inventoryinventory. If any such Rental Contracts are issued, Dealer will take any action which DFS CDF may reasonably require to perfect and/or protect DFS' CDF’s security interest in such Rental Contracts and/or the Inventory inventory subject thereto.

Rental Contracts. Dealer Borrower may rent the Inventory financed by DFS or against which DFS has advanced funds pursuant to the terms of DealerBorrower's rental contracts ("Rental Contracts"). Such Inventory will thereafter be subject to the rates and terms of DFS' financing program in effect for goods which are rented, as reflected herein or in the Statement any statement of Transaction transaction for such Inventory. All of DealerBorrower's Rental Contracts, agreements, and rental transactions will be in a form reasonably satisfactory to DFS and will be in accordance with all applicable Federal, State and local laws. Dealer Borrower will indemnify DFS against any loss or damage which DFS suffers, whether direct or indirect, resulting in any way from the Rental Contracts, agreements, or rental transactions which fail to comply with such laws. All Rental Contracts will be transferable to DFS. Dealer Borrower will indemnify DFS against any claims by its customers regarding DealerBorrower's obligations under the Rental Contracts. Dealer Borrower will immediately, upon DFS' request, deliver to DFS all Rental Contracts and all related documents. This assignment is a transfer for security only, and, until DFS has foreclosed its interest in the Rental Contracts, will not be deemed to delegate any of DealerBorrower's duties under the Rental Contracts to DFS, nor is it intended to alter or impair performance by either party to the Rental Contracts. DFS may, from time to time, verify the accuracy of the Rental Contracts, and Dealer Borrower will immediately, upon DFS' request, provide DFS with the following information regarding Rental Contracts which are in effect on the date of such request: (a) the name, address and telephone number of each customer who has executed a Rental Contract; (b) the location of the Inventory; (c) the date of each Rental Contract; (d) the date when the Inventory is to be returned under each Rental Contract; and, (e) any other information which DFS may reasonably request. If the rental period under the Rental Contract is ninety (90) days or longer, Dealer Borrower will stamp the original of such Rental Contract with the following legend: `'FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO DEUTSCHE FINANCIAL SERVICES CORPORATION AND THERE ARE NO DEFENSES AGAINST THE ASSIGNEE.' Other than to DFS, Dealer Borrower will not assign, sell, pledge, convey or by any other means transfer any Rental Contracts or chattel paper, without DFS' prior written consent. Dealer Borrower will not enter into any Rental Contracts for Inventory financed by DFS or against which DFS has advanced funds pursuant to which: (i) the original term of the Rental Contract is greater than three hundred sixty five (360365) days; (ii) the original term of the Rental Contract is equal to or greater than the remaining economic life of such Inventory; (iii) the customer is bound to renew the Rental Contract for the economic life of such Inventory or is bound to become the owner of such Inventory; or, (ivor,(iii) the customer has an option to renew the Rental Contract for the remaining economic life of such Inventory, or to become the owner of such Inventory, Inventory for nominal consideration, or for consideration which is less than the unpaid balance owed to DFS for such Inventory. If any such Rental Contracts are issued, Dealer Borrower will take any action which DFS may reasonably require to perfect and/or protect DFS' security interest in such Rental Contracts and/or the Inventory subject thereto.

Rental Contracts. Dealer may rent the Inventory financed by DFS or against which DFS has advanced funds pursuant to the terms of Dealer's rental contracts ("Rental Contracts"). Such Inventory will thereafter be subject to the rates and terms of DFS' ITT's financing program in effect for goods which are rented, as reflected in the Statement of Transaction for such Inventory. All of Dealer's Rental Contracts, agreements, and rental transactions will be in a form satisfactory to DFS ITT and will be in accordance with all applicable Federal, State and local laws. Dealer will indemnify DFS ITT against any loss or damage which DFS ITT suffers, whether direct or indirect, resulting in any way from the Rental Contracts, agreements, or rental transactions which fail to comply with such laws. All Rental Contracts will be transferable to DFSITT. Dealer will indemnify DFS ITT against any claims by its customers regarding Dealer's obligations under the Rental Contracts. Dealer will immediately, upon DFS' ITT's request, deliver to DFS ITT all Rental Contracts and all related documents. This assignment is a transfer for security only, and, until DFS ITT has foreclosed its interest in the Rental Contracts, will not be deemed to delegate any of Dealer's duties under the Rental Contracts to DFSITT, nor is it intended to alter or impair 3 performance by either party to the Rental Contracts. DFS ITT may, from time to time, verify the accuracy of the Rental Contracts, and Dealer will immediately, upon DFS' ITT's request, provide DFS ITT with the following information regarding Rental Contracts which are in effect on the date of such request: (a) the name, address and telephone number of each customer who has executed a Rental Contract; (b) the location of the Inventory; (c) the date of each Rental Contract; (d) the date when the Inventory is to be returned under each Rental Contract; and, (e) any other information which DFS ITT may reasonably request. If the rental period under the Rental Contract is ninety (90) days or longer, Dealer will stamp the original of such Rental Contract with the following legend: `FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO DEUTSCHE FINANCIAL SERVICES CORPORATION AND THERE ARE NO DEFENSES AGAINST THE ASSIGNEE.' Other than to DFS, Dealer will not assign, sell, pledge, convey or by any other means transfer any Rental Contracts or chattel paper, without DFS' prior written consent. Dealer will not enter into any Rental Contracts for Inventory financed by DFS or against which DFS has advanced funds pursuant to which: (i) the original term of the Rental Contract is greater than three hundred sixty (360) days; (ii) the original term of the Rental Contract is equal to or greater than the remaining economic life of such Inventory; (iii) the customer is bound to renew the Rental Contract for the economic life of such Inventory or is bound to become the owner of such Inventory; or, (iv) the customer has an option to renew the Rental Contract for the remaining economic life of such Inventory, or to become the owner of such Inventory, for nominal consideration, or for consideration which is less than the unpaid balance owed to DFS for such Inventory. If any such Rental Contracts are issued, Dealer will take any action which DFS may reasonably require to perfect and/or protect DFS' security interest in such Rental Contracts and/or the Inventory subject thereto.: