Common use of SAVINGS CLAUSES Clause in Contracts

SAVINGS CLAUSES. (a) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then Lessor and Lessee agree: (1) that the original principal amount financed pursuant to this Schedule is the Lessor's Cost set forth in paragraph 3 of this Schedule; and (2) that Lessee shall pay said principal amount, together with interest at the Initial Rate set forth in paragraph 6 of this Schedule (subject to adjustment as set forth in paragraph 6 of this Schedule), by paying all rentals and other amounts due under the Schedule plus the Fixed Price set forth in paragraph 16 of this Schedule. (b) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then as collateral security for payment and performance of all Secured Obligations (defined below) and to induce Lessor to extend credit from time to time to Lessee (under the Master Lease or otherwise), Lessee hereby grants to Lessor a first priority security interest in all of Lessee's right, title and interest in the Equipment, whether now existing or hereafter acquired, and in all Proceeds (defined below), and Lessee, at its sole expense, will protect and defend Xxxxxx's first priority security interest in the Equipment against all claims and demands whatsoever. Xxxxxx agrees that Lessor shall have all rights of a secured party under the applicable Uniform Commercial Code. "Secured Obligations" means (1) all payments and other obligations of Lessee under or in connection with this Schedule, and (2) all payments and other obligations of Lessee (whether now existing or hereafter incurred) under or in connection with the Master Lease and all present and future Lease Schedules thereto, and (3) all other leases, indebtedness, liabilities and/or obligations of any kind (whether now existing or hereafter incurred, absolute or contingent, direct or indirect) of Lessee to Lessor or to any affiliate of either Lessor or BANC ONE CORPORATION. "Proceeds" means all cash and non-cash proceeds of the Equipment including, without limitation, proceeds of insurance, indemnities and/or warranties.

SAVINGS CLAUSES. (a) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then Lessor and Lessee agree: (1) that the original principal amount financed pursuant to this Schedule is the Lessor's Cost set forth in paragraph 3 of this Schedule; and (2) that Lessee shall pay said principal amount, together with interest at the Initial Rate set forth in paragraph 6 per annum rate of this Schedule (subject to adjustment as set forth in paragraph 6 of this Schedule)8.0074%, by paying all rentals and other amounts due under the Schedule plus the Fixed Price set forth in paragraph 16 of this Schedule. (b) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then as collateral security for payment and performance of all Secured Obligations (defined below) and to induce Lessor to extend credit from time to time to Lessee (under the Master Lease or otherwise), Lessee hereby grants to Lessor a first priority security interest in all of Lessee's right, title and interest in the Equipment, whether now existing or hereafter acquired, and in all Proceeds (defined below), and Lessee, at its sole expense, will protect and defend Xxxxxx's first Lessxx'x xirst priority security interest in the Equipment against all claims and demands whatsoever. Xxxxxx agrees Lessxx xxxees that Lessor shall have all rights of a secured party under the applicable Uniform Commercial Code. "Secured Obligations" means (1) all payments and other obligations of Lessee under or in connection with this Schedule, and (2) all payments and other obligations of Lessee (whether now existing or hereafter incurred) under or in connection with the Master Lease and all present and future Lease Schedules thereto, and (3) all other leases, indebtedness, liabilities and/or obligations of any kind (whether now existing or hereafter incurred, absolute or contingent, direct or indirect) of Lessee to Lessor or to any affiliate of either Lessor or BANC ONE CORPORATION. "Proceeds" means all cash and non-cash proceeds of the Equipment including, without limitation, proceeds of insurance, insurance,- indemnities and/or warranties.

SAVINGS CLAUSES. (a) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then Lessor and Lessee agree: (1) that the original principal amount financed pursuant to this Schedule is the Lessor's Cost set forth in paragraph 3 of this Schedule; and (2) that Lessee shall pay said principal amount, together with interest at the Initial Rate set forth in paragraph 6 per annum rate of this Schedule (subject to adjustment as set forth in paragraph 6 of this Schedule)8.62%, by paying all rentals and other amounts due under the Schedule plus the Fixed Price set forth in paragraph 16 of this Schedule. (b) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then as collateral security for payment and performance of all Secured Obligations (defined below) and to induce Lessor to extend credit from time to time to Lessee (under the Master Lease or otherwise), Lessee hereby grants to Lessor a first priority security interest Interest in all of of. Lessee's right, title and interest in Interest In the Equipment, whether now existing or hereafter acquired, and in all Proceeds (defined below), and Lessee, at its sole expense, will protect and defend Xxxxxx's first Lessxx'x xirst priority security interest in the Equipment against all claims and demands whatsoever. Xxxxxx agrees Lessxx xxxees that Lessor shall have all rights of a secured party under the applicable Uniform Commercial Code. "Secured Obligations" means (1) all payments and other obligations of Lessee under or in connection with this Schedule, and (2) all payments payments' and other obligations of Lessee (whether now existing or hereafter incurred) under or in connection with the Master Lease and all present and future Lease Schedules thereto, and (3) all other leases, indebtedness, liabilities and/or obligations of any kind (whether now existing or hereafter incurred, absolute or contingent, direct or indirect) of Lessee to Lessor or to any affiliate of either Lessor or BANC ONE CORPORATION. "Proceeds" means all cash and non-cash proceeds of the Equipment including, without limitation, proceeds of insurance, indemnities and/or warranties.

SAVINGS CLAUSES. (a) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then Lessor and Lessee agree: (1) that the original principal amount financed pursuant to this Schedule is the Lessor's Cost set forth in paragraph 3 of this Schedule; and (2) that Lessee shall pay said principal amount, together with interest at the Initial Rate set forth in paragraph 6 of this Schedule (subject to adjustment as set forth in paragraph 6 of this Schedule), by paying all rentals and other amounts due under the Schedule plus the Fixed Price set forth in paragraph 16 of this Schedule. (b) If any court or other judicial authority determines that this Schedule is a loan transaction or a conditional sale transaction, then as collateral security for payment and performance of all Secured Obligations (defined below) and to induce Lessor to extend credit from time to time to Lessee (under the Master Lease or otherwise), Lessee hereby grants to Lessor a first priority security interest in all of Lessee's right, title and interest in the Equipment, whether now existing or hereafter acquired, and in all Proceeds (defined below), and Lessee, at its sole expense, will protect and defend Xxxxxx's first Lessxx'x xirst priority security interest in the Equipment against all claims and demands whatsoever. Xxxxxx Lessee agrees that Lessor shall have all rights of a secured party under the applicable Uniform Commercial Code. , "Secured Obligations" means (1) all payments and other obligations of Lessee under or in connection with this ScheduleSchedule 6, and (2) all payments and other obligations of Lessee (whether now existing or hereafter incurredIncurred) under or in connection with the Master Lease and all present and future Lease Schedules thereto, and (3) all other leases, indebtednessIndebtedness, liabilities and/or obligations of any kind (whether now existing or hereafter incurredIncurred, absolute or contingent, direct or indirect) of Lessee to Lessor or to any affiliate of either Lessor or BANC ONE CORPORATION. "Proceeds" means all cash and non-cash proceeds of the Equipment including, without limitation, proceeds of insurance, indemnities Indemnities and/or warranties.