Returned Equipment. Acceptance by Xxxxxxxx Camera Inc. of the return of rented equipment does not waive any claims that the company may have against the Customer for patent, latent or hidden damage to the equipment. Xxxxxxxx Camera shall have a reasonable period of time after return of said equipment to discover said damages.
Returned Equipment. Certain Contracts that may be funded pursuant to the Credit Facility will contain a provision giving the Obligor the right, under certain circumstances, to return and replace some portion of the Equipment that is subject to a particular Contract. In that event, the Borrower has agreed with the Obligor to amend the Contract to reduce the obligations of the Obligor thereunder and create a new Contract for replacement Equipment. The Borrower agrees that, in such event, in exchange for the Lender's release of its security interest in the returned Equipment (the "Returned Equipment"), the Borrower will make a prepayment on the Note equal to the outstanding balance of the amount advanced by the Lender with respect to the Returned Equipment under the applicable Contract. The Borrower agrees to provide the Lender with a written certification (i) identifying the Returned Equipment, (ii) the aggregate Equipment Value of the Returned Equipment, (iii) 90% of such aggregate Equipment Value that was advanced by the Lender and (iv) the outstanding balance of the amount advanced. The Borrower also agrees to provide UCC-3 Releases to be executed by the Lender to release such Equipment.
Returned Equipment. At all times on and after the Termination Date, whenever possession (whether by return, repossession or otherwise) of any Equipment relating to any Pool Receivable is obtained by the Seller, any Affiliate of the Seller or any of their respective agents, such Person shall hold such Equipment in trust for the benefit of the Banks to the extent of their interest therein, and following the Agent's request, clearly identify such equipment as subject to such interest; provided, however, that the Seller may at any time sell or otherwise realize upon any such returned or repossessed Equipment in accordance with the terms of the Credit and Collection Policy, subject to the requirement the proceeds of such sale or other realization be remitted to the Collection Agent for application pursuant to the terms of this Agreement. The Seller will use its best efforts to sell or otherwise realize upon any returned or repossessed Equipment.
Returned Equipment. Certain Contracts that may be funded pursuant to the Loan will contain a provision giving the Obligor the right, under certain circumstances, to return and replace some portion of the Equipment that is subject to a particular Contract. In that event, Borrower has agreed with the Obligor to amend the Contract to reduce the obligations of the Obligor thereunder and create a new Contract for replacement Equipment. Borrower agrees that, in such event, in exchange for Lead Lender’s release of its security interest in the returned Equipment (the “Returned Equipment”), Borrower will make a prepayment on the Note equal to the outstanding balance of the amount advanced by Lead Lender with respect to the Returned Equipment under the applicable Contract. Borrower agrees to provide Lead Lender with a written certification (i) identifying the Returned Equipment, (ii) the aggregate Equipment Value of the Returned Equipment, (iii) 90% of such aggregate Equipment Value that was advanced by Lead Lender in respect of the Returned Equipment and (iv) the outstanding balance of the amount advanced in respect of the Returned Equipment. Borrower also agrees to provide UCC-3 Releases to be executed by Lead Lender to release such Equipment.
Returned Equipment. Acceptance by Xxxxxx Xxxx of the return of rented equipment does not waive any claims that the company may have against the Customer for patent, latent or hidden damage to the equipment. Xxxxxx Xxxx shall have a reasonable period of time after return of said equipment to discover said damages.
Returned Equipment. Acceptance by Xxxx Tech of the return of rented equipment does not waive any claims that Xxxx Tech may have against the Customer for patent, latent or hidden damage to the equipment. Xxxx Tech shall have 5 business days to discover said damages.
Returned Equipment. Acceptance by Exodus Lasers of the return of rented equipment does not waive any claims that the company may have against the Customer for patent, latent or hid- den damage to the equipment. Exodus Lasers shall have a reasonable period of time after return of said equipment to discover said damages.
Returned Equipment. Acceptance by DP Xxxxxx of the return of rented equipment does not waive any claims that the company may have against the Renter for patent, latent or hidden damage to the equipment. DP Xxxxxx shall have a reasonable period of time after return of said equipment to discover said damages.
Returned Equipment. Acceptance by Motion Rental of the return of rented equipment does not waive any claims that the company may have against the Customer for patent, latent or hidden damage to the equipment. Motion Rental shall have a reasonable period of time after return of said equipment to discover said damages.
Returned Equipment. Xx. Xxxxxxxx represents that no personal charges are outstanding and due on either the Xxxxxx United Bank Mastercard, or the American Express Card issued by the Company, and that he has maintained the Leased Vehicle in good condition. The Company may accept the return of the Leased Vehicle upon a written assessment that the Leased Vehicle is in good condition upon the execution of this Agreement, or have the lessor of the Leased Vehicle inspect it to determine its condition prior to the execution of this Agreement.
