Common use of RISK OF DAMAGE AND LOSS Clause in Contracts

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item is returned and accepted by Lessor (the "Return Date") in accordance with Section 12. In the event of damage to any Item, Lessee, at its expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessee shall pay to Lessor the Stipulated Loss Value (as defined below) of such Item and all other Rent owing with respect to such Item, which such payment shall be due on the first to occur of (i) the end of the Term with respect thereto or (ii) the sooner of (A) 60 days after such Event of Loss or (B) the second Basic Rent payment date with respect to such Item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider applicable to each Item and the Stipulated Loss Value for each Item shall be as set forth therein (the "Stipulated Loss Value"). Upon due payment by Lessee of all such amounts, this Lease shall terminate with respect to such Item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor Liens. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.

RISK OF DAMAGE AND LOSS. Lessee assumes (a) Lessees assume and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item is returned and accepted by Lessor (the "Return Date") in accordance with Section 1223. In the event of damage to any Item, LesseeLessees, at its their expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If all of the Items at a Facility are lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair such Items (or such repairs are not completed within 60 days of the damage or by the end of the Lease Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessees shall either (i) replace all such Items with replacement Items that are free and clear of all Liens and are of the same type, have a Fair Market Sales Value, utility, residual value, remaining economic useful life and condition at least equal to the Items so replaced (assuming such Items were in the condition required by this Lease) or (ii) pay to Lessor the Stipulated Loss Value of such Items and all other Rent owing with respect to such Items, which such payment shall be due on the first to occur of (A) the end of the Lease Term or (B) the sooner of (1) 60 days after such Event of Loss or (2) the second Base Rent payment date following such Event of Loss. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Lease Term with respect thereto, whichever is shorter), confiscated or condemned (each, other than in connection with an "Event of Loss"), then Lessee Lessees shall replace such Item with a replacement Item that is free and clear of all Liens and is of the same type, has a Fair Market Sales Value, utility, residual value, remaining economic useful life and condition at least equal to the Item so replaced (assuming such Item was in the condition required by this Lease). (b) At the time of replacement of any Item, Lessees, at their own expense, shall (i) furnish Lessor with a Bill of Sale with respect to such replacement Item and execute an amxxxxent to, or replacement of, the Lease Supplement (when the aggregate Fair Market Sales Value of replacement Items equals $25,000 or more) and (ii) furnish Lessor and the Owner Participants with such documents as they, or their counsel, shall reasonably request. (c) If, in connection with an Event of Loss, Lessees pay to Lessor the Stipulated Loss Value (as defined below) of such Item and all other Rent owing with respect to such Item, which such payment shall be due on the first to occur of (i) the end of the Term affected Items in accordance with respect thereto or (iiSection 10(a) the sooner of (A) 60 days after such Event of Loss or (B) the second Basic Rent payment date with respect to such Item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider applicable to each Item and the Stipulated Loss Value for each Item shall be as set forth therein (the "Stipulated Loss Value"). Upon due payment by Lessee of all such amountsabove, then this Lease shall terminate with respect to such Item Items and Lessor shall transfer title thereto to LesseeLessees, without representation or warranty other than as to Lessor Liens, and the obligation of Lessees to pay Base Rent in respect of such Items for any period commencing after such Event of Loss shall terminate, and the Base Rent shall be adjusted accordingly by an amendment executed by Lessees and Lessor. If, in connection with an Event of Loss, the affected Items are replaced in accordance with Section 10(a) above, then upon compliance with Section 10(b) above, this Lease shall terminate with respect to the replaced Items and Lessor shall transfer title thereto to Lessees, without representation or warranty other than as to Lessor Liens, and the obligation of Lessees to pay Base Rent in respect of such replaced Items for any period commencing after such Event of Loss shall terminate, and the Base Rent shall be adjusted accordingly by an amendment executed by Lessees and Lessor. So long as no Event of Default exists, and provided that Lessees have complied with Sections 10(a) and (b) above, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessees. If an Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid retained by Lessee in repairing the same Lessor until such Event of Default is waived or shall be credited against amounts payable by Lessee with respect to the Equipment involvedcured.

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, from the Commencement Date until the date such Item is returned and accepted by Lessor Return Date (the "Return Date") as defined in accordance with Section 1210). In the event of damage to any Item, Lessee, at its sole cost and expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunderhereunder and continuing to pay Rent while doing so. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss")) Lessee shall, then Lessee shall on the first to occur of (x) the end of the Term with respect thereto and (y) the second Basic Rent payment date following such Event of Loss, pay to Lessor the Stipulated Loss Value (as defined belowshown on the Stipulated Loss Value Table to the applicable Schedule) of such Item as of the Basic Rent payment date immediately preceding the Event of Loss plus interest thereon at a rate per annum equal to the Prime Rate then in effect plus 2% from the Event of Loss date through the date of payment and all other Rent owing with respect to such Item. Until such time as the Stipulated Loss Value payment is made to Lessor, which such payment Lessee shall be due on the first continue to occur of (i) the end of the Term with respect thereto or (ii) the sooner of (A) 60 days after such Event of Loss or (B) the second make Basic Rent payment date payments with respect to such Item following such (provided that all Basic Rent payments made for Basic Rent payment dates subsequent to the Event of Loss. Lessor and Lessee Loss date shall execute a Stipulated Loss Value Rider applicable to each Item and be credited against the Stipulated Loss Value for each Item shall be amount as set forth therein (of the "Stipulated Loss Value")date of its payment. Upon due payment by the Lessee of all such amounts, this Lease shall terminate with respect to such Item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor LiensLiens and that Lessor has not conveyed any interest in the Equipment to any third party. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.any

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item is returned and accepted by Lessor (the "Return Date") in accordance with Section 12. In the event of any damage to any Item, Lessee, at its expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessee shall pay to Lessor the Stipulated Loss Value (as defined below) of such Item and all other Rent owing with respect to such Item, which such payment shall be due on the first to occur of (i) the end of the Term with respect thereto or (ii) the sooner of (A) 60 days after such Event of Loss or (B) the second Basic Rent payment date with respect to such Item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider applicable to each Item and the Stipulated Loss Value for each Item shall be as set forth therein (the "Stipulated Loss Value"). Upon due payment by Lessee of all such amounts, this Lease shall terminate with respect to such Item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor Liens. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item is returned and accepted by Lessor (the "Return Date") in accordance with Section 1211. In the event of damage to any Item, Lessee, at its expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessee shall pay to Lessor the Stipulated Loss Value (as defined below) of such Item and all other Rent owing with respect to such Item, which such payment shall be due on the first to occur of (ix) the end of the Term with respect thereto or (iiy) the sooner of (Ai) 60 days after such Event of Loss or (Bii) the second Basic Rent payment date with respect to such Item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider Rider, which shall be applicable to the Equipment and each Item Item, and the Stipulated Loss Value for the Equipment and each Item shall be as set forth therein item (the "Stipulated Loss Value")) shall be as set forth therein. In addition Lessee shall pay to Lessor interest on the amount of the Stipulated Loss Value from the Basic Rent payment date immediately preceding the date of the Event of Loss until such Stipulated Loss Value is paid to Lessor at a rate per annum equal to the lesser of three percent (3%) above the prime rate (the "Prime Rate") as published in The Wall Street Journal and in effect on the date of the Event of Loss or the maximum amount permitted by applicable law under the circumstances. EXHIBIT 10(oo) Upon due payment by the Lessee of all such amounts, this Lease thisLease shall terminate with respect to such Item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor Liens. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item is returned and accepted by Lessor (the "Return Date") in accordance with Section 12. In the event of damage to any Item, Lessee, at its expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If any Item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessee shall pay to Lessor the Stipulated Loss Value (as defined below) of such Item and all other Rent owing with respect to such Item, which such payment shall be due on the first to occur of (i) the end of the Term with respect thereto or (ii) the sooner of (A) 60 days after such Event of Loss or (B) the second Basic Rent payment date with respect to such Item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider applicable to each Item and the Stipulated Loss Value for each Item shall be as set forth therein (the "Stipulated Loss Value"). In the event Lessee shall discontinue the operations or be in default with the landlord at any store location ("Store Closure") in which Lessor has Items of Equipment, then Lessee shall pay to Lessor the Stipulated Loss Value (as defined in Section 9 below) of such Items of Equipment and all other Rent owing with respect to such Items of Equipment, which such payment shall be due within 30 days of such Store Closure. Upon due payment by Lessee of all such amounts, this Lease shall terminate with respect to such Item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor Liens. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.

RISK OF DAMAGE AND LOSS. Lessee assumes and shall be solely responsible for the entire risk of any Item item being lost, destroyed, damaged, stolen, confiscated or condemned, from whatever source, until the date such Item item is returned and accepted by Lessor (the "Return Date") in accordance with Section 12. In the event of damage to any Itemitem, Lessee, at its expense, shall promptly repair the same, restoring it to the condition required to be maintained hereunder. If any Item item is lost, destroyed, stolen, damaged in such a way that it is not commercially reasonable to repair it (or such repairs are not completed within 60 days of the damage or by the end of the Term with respect thereto, whichever is shorter), confiscated or condemned (each, an "Event of Loss"), then Lessee shall pay to Lessor the Stipulated Loss Value (as defined below) of such Item item and all other Rent owing with respect to such Itemitem, which such payment shall be due on the first to occur of (i) the end of the Term with respect thereto or (ii) the sooner of (A) 60 days after such Event of Loss or (B) the second Basic Rent payment date with respect to such Item item following such Event of Loss. Lessor and Lessee shall execute a Stipulated Loss Value Rider applicable to each Item item and the Stipulated Loss Value for each Item tem shall be as set forth therein (the "Stipulated Loss Value"). Upon due payment by Lessee of all such amounts, this Lease shall terminate with respect to such Item item and Lessor shall transfer title thereto to Lessee, without representation or warranty other than as to Lessor Liens. So long as no Event of Default exists, any proceeds of insurance required hereunder received by Lessor with respect to any damage or Event of Loss respecting any Equipment shall be paid to Lessee to the extent necessary to reimburse Lessee for costs incurred and paid by Lessee in repairing the same or shall be credited against amounts payable by Lessee with respect to the Equipment involved.