Common use of Risk of Loss and Insurance Clause in Contracts

Risk of Loss and Insurance. Throughout the rental term, unless otherwise indicated in the relevant Equipment Schedule, the Lessee shall insure and at all times keep the Equipment insured with reputable insurers. Lessor and Lessee agree as follows: a) Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for all risks of physical damage to or loss or destruction of the Equipment, however caused. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in an amount at least equal at all times to the greater of (i) the replacement value of the Equipment, or (ii) the aggregate unpaid Rent with respect to the Equipment for the unexpired Initial Term. Lessee shall carry public liability insurance, in each case in amounts and against risks customarily insured against by the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by it. All policies with respect to such insurance shall name the Lessor as additional assured and (together with any Beneficiary) as loss payee, and shall provide for at least 30 days' prior written notice by the underwriter or insurance company to the Lessor in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor of the Equipment which has suffered a Casualty Loss and Lessee shall, at the Lessor's option, either (i) replace Equipment which has suffered a Casualty Loss with lien free equipment of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date of the Casualty Loss shall remain due and payable. After the payment of such Casualty Value and all other amounts due and owing with respect to such Equipment, Lessee's obligation to pay further Rent for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to Lessor.

Risk of Loss and Insurance. Throughout Until Lessee has returned the rental termEquipment to the designated location, unless otherwise indicated in Lessee bears the relevant Equipment Scheduleentire risk or loss or damage to the Equipment, the regardless how arising. Lessee shall insure immediately notify Lessor of the occurrence of any Loss or other occurrence affecting Lessor's interests and shall make repairs or corrections at Lessee's expense. In such event, Lessee agrees to continue to meet all times payment and other obligations under the Lease. Lessee agrees to keep the Equipment insured with reputable insurersat Lessee's expense against risks of loss or damage from any cause whatsoever. Lessor and Lessee agree as follows: a) Effective upon delivery agrees that such insurance shall not be less than the unpaid balance of the Equipment to Lessee and until Lease plus the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for all risks of physical damage to or loss or destruction of the Equipment, however caused. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in an amount at least equal at all times to the greater of (i) the replacement then current fair market value of the Equipment, or (ii) . Lessee also agrees that the aggregate unpaid Rent with respect insurance shall be in such additional amount as is reasonable to cover Lessor for public liability and property damage arising from the Equipment for the unexpired Initial Termor Lessee's use of it. Lessee agrees to name Lessor as the loss payee and an additional insured. Each policy shall carry public liability insuranceprovide that the insurance cannot be canceled without thirty days prior written notice to Lessor. Upon request by Lessor, in Lessee agrees to furnish proof of each case in amounts insurance policy including a certificate of insurance and against risks customarily insured against by a copy of the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by itpolicy. All policies with respect to The proceeds of such insurance shall name be applied at Lessor's sole election toward the Lessor as additional assured and (together with any Beneficiary) as loss payee, and shall provide for at least 30 days' prior written notice by the underwriter replacement or insurance company to the Lessor in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor repair of the Equipment which has suffered or payment towards Lessee's obligations. Lessee appoints Lessor as attorney-in-fact to make any claim for, receive payment of, or execute or endorse all documents, checks or drafts for loss or damage or return of premium under such insurance. Because of increased credit risks to Lessor when not insured by Lessee, Lessee agrees to pay to Lessor each month a Casualty Loss risk charge stipulated and Lessee shall, liquidated at the 25% of Lessor's option, either (i) replace original Equipment which has suffered a Casualty Loss cost until Lessee provides proof of compliance with lien free equipment insurance requirements. In spite of the same modelpayments of such risk charge, type Lessee has no right or claim to any insurance benefits from Lessor. Lessee is still liable for all losses, and feature configuration such risk charge is not in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date lieu of the Casualty Loss shall remain due and payable. After the payment insurance requirements of such Casualty Value and all other amounts due and owing with respect to such Equipment, Lessee's obligation to pay further Rent for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to Lessorthis Lease.

Risk of Loss and Insurance. Throughout Lessee hereby assumes all risk of loss, damage or destruction for whatever reason to the rental termEquipment ("Loss") from and after the earlier of the date (a) on which the Equipment is ordered, unless otherwise indicated in or (b) Lessor pays the relevant purchase price of the Equipment, and continuing until Lessee has returned the Equipment Schedule, to the designated location and such Equipment has been accepted by Lessor. Lessee shall insure immediately notify Lessor of the occurrence of any Loss or other occurrence affecting Lessor's interests or the Equipment and shall, at Lessor's option, make repairs or replacements at Lessee's expense. In such event, Lessee agrees to continue to meet all times payment and other obligations under the Lease Schedule. Lessee agrees to keep the Equipment insured with reputable insurers. Lessor and Lessee agree as follows: a) Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for all at Lessee's expense against risks of physical damage to or loss or destruction of the Equipment, however causeddamage from any cause whatsoever. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to agrees that such insurance shall not be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in less than an amount at least equal at all times to the greater total remaining stream of lease payments plus the higher of (i) twenty percent (20%) of the replacement total invoice cost of such Equipment and (ii) the fair market value of the Equipment, or (ii) . Lessee also agrees that the aggregate unpaid Rent with respect insurance shall be in such an amount as is reasonable to cover Lessor for public liability and property damage arising from the Equipment for the unexpired Initial Termor Lessee's use of it. Lessee shall carry public liability insurance, in each case in amounts and against risks customarily insured against by the Lessee on similar equipment and, in any event, in amounts and against risks comparable agrees to those insured against by the Lessee on equipment owned by it. All policies with respect to such insurance shall name the Lessor as the loss payee and an additional assured and (together with any Beneficiary) as loss payee, and insured. Each policy shall provide for at least 30 days' that the insurance cannot be cancelled without thirty (30) days prior written notice by the underwriter or insurance company to the Lessor in the event of cancellation or expirationLessor. Lessee shall furnish appropriate evidence Lessor with a copy of the certificate of insurance annually. The proceeds of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment insurance shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of applied at Lessor's sole election toward the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor replacement or repair of the Equipment which has suffered a Casualty Loss and Lessee shall, at the Lessor's option, either (i) replace Equipment which has suffered a Casualty Loss with lien free equipment of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date of the Casualty Loss shall remain due and payable. After the payment of such Casualty Value and all other amounts due and owing with respect to such Equipment, towards Lessee's obligation obligations. Lessee appoints Lessor as attorney-in-fact to pay further Rent make any claim for, receive payment of, or execute or endorse all documents, checks or drafts for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled damage or return of premium under such insurance. Lessee has no right or claim to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to any insurance benefits from Lessor.

Risk of Loss and Insurance. Throughout (a) Until the rental termLessee has returned the Equipment to the designated return location, unless otherwise indicated the Lessee bears the entire risk of loss or damage to the Equipment, regardless how arising. (b) The Lessee shall immediately notify the Lessor of the occurrence of any loss or other occurrence affecting the Lessor's interests in and to any of the relevant Equipment and the Lessee shall make repairs or corrections at the Lessee's expense. In such event and notwithstanding any damage or loss to any and/or all of the Equipment, the Lessee agrees to continue to meet all Payments and other Obligations as and when the same come due. (c) In the event of a loss or damage to any of the Equipment where the cost of repairs or corrections is not cost effective, Lessor shall have the right to require the Lessee to pay immediately all remaining Payments and other charges becoming due under the Lease after the date of such loss or damage, plus any past due amounts under the Lease. For the purposes of this section (c) only, the remaining Payments shall be discounted by a rate equal to .05% per annum. The determination as to whether the cost of repairs or corrections is cost effective shall be in Lessor's sole and absolute discretion. (d) The Lessee agrees to keep the Equipment insured at the Lessee's expense against risks of loss or damage from any cause whatsoever. The Lessee agrees that such insurance shall not be less than the unpaid balance of the Lease term with respect to said Equipment plus the then-current fair market value of the Equipment. The Lessee also agrees that the insurance shall be in such additional amount as is reasonable to cover the Lessor for public liability and property damage arising from the Equipment or the Lessee's use of it. The Lessee agrees to name the Lessor as the loss payee and an additional insured. The Lessee shall ensure that the Lessor is the Certificate Holder with respect to all insurance. On the date of execution of each Equipment Schedule to this Lease, the Lessee shall provide the Lessor with an insurance binder with coverage in accordance with the terms of this Lease. Within 5 days of execution of each Equipment Schedule, the Lessee shall insure and at all times keep provide the Equipment insured Lessor with reputable insurers. Lessor and Lessee agree as follows: a) Effective upon delivery a Certificate Of Property Insurance in favor of the Equipment Lessor. Each policy shall provide that the insurance cannot be canceled without thirty days prior written notice to Lessee and until the Equipment is returned to Lessor. Upon request by the Lessor, the Lessee relieves Lessor agrees to furnish proof of responsibility for all risks each insurance policy including a certificate of physical damage to or loss or destruction insurance and a copy of the Equipment, however causedpolicy. During the continuance The proceeds of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in an amount at least equal at all times to the greater of (i) the replacement value of the Equipment, or (ii) the aggregate unpaid Rent with respect to the Equipment for the unexpired Initial Term. Lessee shall carry public liability insurance, in each case in amounts and against risks customarily insured against by the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by it. All policies with respect to such insurance shall name the Lessor as additional assured and (together with any Beneficiary) as loss payee, and shall provide for at least 30 days' prior written notice by the underwriter or insurance company to the Lessor in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor of the Equipment which has suffered a Casualty Loss and Lessee shall, applied at the Lessor's option, either (i) replace Equipment which has suffered a Casualty Loss with lien free equipment sole election toward the replacement or repair of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date damaged portion of the Casualty Loss shall remain due and payable. After the payment of such Casualty Value and all other amounts due and owing with respect to such Equipment, Lessee's obligation to pay further Rent for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to Lessor.payment

Risk of Loss and Insurance. Throughout Until Lessee has returned the rental termEquipment to the designated location, unless otherwise indicated in Lessee bears the relevant Equipment Scheduleentire risk or loss or damage to the Equipment, the regardless how arising. Lessee shall insure immediately notify Lessor of the occurrence of any Loss or other occurrence affecting Lessor's interests and shall make repairs or corrections at Lessee's expense. In such event, Lessee agrees to continue to meet all times payment and other obligations under the Lease. Lessee agrees to keep the Equipment insured with reputable insurersat Lessee's expense against risks of loss or damage from any cause whatsoever. Lessor and Lessee agree as follows: a) Effective upon delivery agrees that such insurance shall not be less than the unpaid balance of the Equipment to Lessee and until Lease plus the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for all risks of physical damage to or loss or destruction of the Equipment, however caused. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in an amount at least equal at all times to the greater of (i) the replacement then current fair market value of the Equipment, or (ii) . Lessee also agrees that the aggregate unpaid Rent with respect insurance shall be in such additional amount as is reasonable to cover Lessor for public liability and property damage arising from the Equipment for the unexpired Initial Termor Lessee's use of it. Lessee agrees to name Lessor as the loss payee and an additional insured. Each policy shall carry public liability insuranceprovide that the insurance cannot be canceled without thirty days prior written notice to Lessor. Upon request by Lessor, in Lessee agrees to furnish proof of each case in amounts insurance policy including a certificate of insurance and against risks customarily insured against by a copy of the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by itpolicy. All policies with respect to The proceeds of such insurance shall name be applied at Lessor's sole election toward the Lessor as additional assured and (together with any Beneficiary) as loss payee, and shall provide for at least 30 days' prior written notice by the underwriter replacement or insurance company to the Lessor in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor repair of the Equipment which has suffered or payment towards Lessee's obligations. Lessee appoints Lessor as attorney-in-fact to make any claim for, receive payment of, or execute or endorse all documents, checks or drafts for loss or damage or return of premium under such insurance. Because of increased credit risks to Lessor when not insured by Lessee, Lessee agrees to pay to Lessor each month a Casualty Loss risk charge stipulated and Lessee shall, liquidated at the 25% of Lessor's option, either (i) replace original Equipment which has suffered a Casualty Loss cost until Lessee provides proof of compliance with lien free equipment insurance requirements. In spite of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date of the Casualty Loss shall remain due and payable. After the payment of such Casualty Value and risk charge, Lessee has no right or claim to any insurance benefits from Lessor. Lessee is still liable for all other amounts due and owing with respect to such Equipment, Lessee's obligation to pay further Rent for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied)losses, and Lessee shall be entitled to retain all amounts received for such risk charge is not in lieu of the Equipment up to the Casualty Value and Lessee's reasonable costs insurance requirements of disposition attributable thereto, and shall remit the excess, if any, to Lessorthis Lease.

Risk of Loss and Insurance. Throughout Lessee assumes any and all risk of loss or damage to the rental term, unless otherwise indicated Equipment until such Equipment is returned to and received by Lessor in accordance with the relevant Equipment Schedule, the terms and conditions of this Master Agreement. Lessee shall insure and at all times agrees to keep the Equipment insured with reputable insurers. Lessor and Lessee agree as follows: a) Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for at Lessee’s expense against all risks of physical damage to or loss or destruction from any cause whatsoever, including, without limitation, loss by fire (including extended coverage), theft and damage, in an amount not less than the estimated total retail price that would be paid for such Equipment in an arm’s length transaction (“Fair Market Value”) as set forth in Exhibit E as of the Equipmentactual date the Schedule expires or is terminated, however caused. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance as applicable (“Stipulated Loss Value”) or (b) with respect to each item of Equipment designated in this Equipment Schedule any other Equipment, the replacement value thereof. Xxxxxx also agrees that it shall carry commercial general liability insurance in an amount not less than $5,000,000 total liability per occurrence. Lessee shall cause Lessor and its affiliates, and its and their successors and assigns, to be named loss payees with respect to property insurance and additional insureds with respect to commercial general liability insurance. Each policy shall provide that the insurance cannot be canceled without at least equal at thirty (30) days’ prior written notice to Lessor. In the event of loss or claim, Xxxxxx will be responsible for all times deductibles and/or retentions. All insurance required by this Master Agreement shall include a waiver of rights of recovery against Lessor and its insurers by the Lessee and its insurers, as well as a waiver of subrogation against Lessor and its insurers. All insurance required by this Master Agreement is primary and non-contributory to the greater of any other insurance maintained by Xxxxxx. Lessee shall provide to Lessor (i) on or prior to the replacement value delivery date for each Schedule (“Delivery Date”), and from time to time thereafter throughout the Rental Term of the Equipmenteach Schedule, or certificates of insurance evidencing such insurance coverage, and (ii) upon Lessor’s request, copies of the aggregate unpaid Rent insurance policies. If Lessee fails to provide Lessor with respect such evidence, then Lessor will have the right, but not the obligation, to the Equipment for the unexpired Initial Term. Lessee shall carry public liability insurance, in each case in amounts and against risks customarily insured against by the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by it. All policies with respect to purchase such insurance protecting Lessor at Lessee’s expense. Lessee’s expense shall name include the Lessor as additional assured full premium paid for such insurance and (together with any Beneficiary) as loss payeecustomary charges, costs or fees of Lessor, including but not limited to deductibles and shall provide for at least 30 days' prior written notice by the underwriter or insurance company to the Lessor retentions in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item of Equipment, Lessee shall give to Lessor prompt notice thereof and the Agreement and the relevant Equipment Schedule shall continue in effect without any abatement of Rent. Lessee shall determine, within fifteen (15) days after the date of occurrence of such loss, damage or destruction, whether such item of Equipment can be repaired. If Lessee determines that such item of Equipment can be repaired, Lessee, at its expense, shall cause such item of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor of the Equipment which has suffered a Casualty Loss and Lessee shall, at the Lessor's option, either (i) replace Equipment which has suffered a Casualty Loss with lien free equipment of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value"). If the Casualty Value is paid, any installment of Rent with respect to such Equipment due prior to the date of the Casualty Loss shall remain due and payable. After the payment of such Casualty Value and all other amounts due and owing with respect to such Equipment, Lessee's obligation Xxxxxx agrees to pay further such amounts in substantially equal installments allocated to each Rent for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose of such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to Lessorpayment.

Risk of Loss and Insurance. Throughout Commencing on the rental termdate Equipment is delivered to Lessee and until Lessee has returned the Equipment to the designated location, unless otherwise indicated in Lessee bears the relevant Equipment Scheduleentire risk of loss or damage to the Equipment, the regardless how arising. Lessee shall insure immediately notify Lessor of the occurrence of any loss or other occurrence affecting Lessor’s interests and shall repair or replace the Equipment at Lessee’s expense. In such event, Lessee agrees to continue to meet all times payment ant other obligations under the lease. Lessee agrees, at its cost, to a) keep the Equipment insured against all risks of physical loss or damage for its full replacement value, naming Lessor as loss payee; and b) maintain public liability insurance, covering personal injury and property damage for not less than $300,000 per occurrence, or in such other amount as Lessor may request or accept, naming Lessor as an additional insured. Such insurance policy must 1) be issued by an insurance carrier rated B+ or better by A.M Best and Company, 2) provide Lessor with reputable insurersnot less than 15 days prior written notice of cancellation, non-renewal or amendment, and 3) provide deductibles not in excess of amounts acceptable to Lessor. Lessee must provide Lessor and Lessee agree as follows: awith evidence of coverage within 30days after (i) Effective upon delivery of the Equipment to Lessee and until the Equipment is returned to Lessor, Lessee relieves Lessor of responsibility for all risks of physical damage to or loss or destruction of the Equipment, however caused. During the continuance of the relevant Equipment Schedule, Lessee shall, at its own expense, cause to be carried and maintained casualty insurance with respect to each item of Equipment designated in this Equipment Schedule in an amount at least equal at all times to the greater of (i) the replacement value of the EquipmentLessee, or (ii) any notice Lessor may send Lessee requesting evidence of coverage, whichever is earlier. Lessee acknowledges that Lessor cannot advise Lessee on insurance adequacy or coverage, as Lessor is not licensed as an insurance agency or insurance company. If Lessee fails to provide evidence of coverage meeting the aggregate unpaid Rent with respect to foregoing requirements, Lessor may, but is not obligated to, for its interest only, (A) include the Equipment under Lessor’s risk management program for the unexpired Initial Term. Lessee shall carry public liability insuranceloss, in each case in amounts and against risks customarily insured against by the Lessee on similar equipment and, in any event, in amounts and against risks comparable to those insured against by the Lessee on equipment owned by it. All policies with respect to such insurance shall name the Lessor as additional assured and (together with any Beneficiary) as loss payee, and shall provide for at least 30 days' prior written notice by the underwriter or insurance company to the Lessor in the event of cancellation or expiration. Lessee shall furnish appropriate evidence of such insurance; b) If any item of Equipment is lost or rendered unusable as a result of any physical damage or destruction of such item the Equipment and to charge Lessee a fee which Lessee will be required to pay Lessor or (B) obtain property and/or liability insurance coverage, from any authorized insurance carrier of EquipmentLessor’s choice, including affiliates, and Lessee shall give must repay to Lessor prompt notice thereof over the term of the applicable Lease the insurance premiums Lessor paid for such coverage. Such premiums may be repaid by Lessor, and the Agreement Lessor’s insurance policy will cover such risks and the relevant Equipment Schedule shall continue in effect without include such deductibles, and if any, as Lessor any abatement of Rentrequest from its insurance provider. Lessee shall determine, within fifteen (15) days after may wish to acquire may be higher or lower than the date cost of occurrence of such loss, damage or destruction, whether such item of Equipment can be repairedLessor’s policy. If Lessee determines that such item of Equipment can be repaired, At Lessee, at its ’s sole discretion and expense, shall cause such item it may wish to obtain insurance coverage from its insurance company for any interest it may have in the Equipment or the applicable Leas. The proceeds of Equipment to be promptly repaired. If Lessee determines that such item of Equipment is lost or cannot be repaired, Lessee shall promptly notify Lessor and such Equipment insurance shall be deemed to have suffered a "Casualty Loss" for purposes of this Section as of applied at Lessor’s sole, election toward the date of occurrence of such loss. Within said 15 days, Lessee shall notify Lessor replacement or repair of the Equipment which has suffered a Casualty Loss and Lessee shall, at the Lessor's option, either (i) replace Equipment which has suffered a Casualty Loss with lien free equipment of the same model, type and feature configuration in which case the replacement equipment shall become the Equipment, the relevant Equipment Schedule shall continue in full force and effect and marketable title in such Equipment shall vest in Lessor or (ii) pay the aggregate unpaid Rent with respect to such Equipment for the unexpired Initial Term for such Equipment ("Casualty Value")payment towards Lessee’s obligation. If the Casualty Value is paidthere has been a Lessee Event of Default, Lessee appoints Lessor as attorney in fact to make any installment of Rent with respect to such Equipment due prior to the date of the Casualty Loss shall remain due and payable. After the claim for, receive payment of such Casualty Value and of, or execute or endorse all other amounts due and owing with respect to such Equipmentdocuments, Lessee's obligation to pay further Rent checks or drafts for such Equipment shall cease. Except in the case of loss or total destruction, Lessor will be entitled to recover all Equipment for which a Casualty Value has been paid; provided, however, that Lessee shall dispose damage or return of premium under such Equipment for the best price obtainable (on an "as-is, where-is," basis without representation or warranty expressed or implied), and Lessee shall be entitled to retain all amounts received for the Equipment up to the Casualty Value and Lessee's reasonable costs of disposition attributable thereto, and shall remit the excess, if any, to Lessorinsurance.