STIPULATED LOSS VALUE. If for any reason any unit of Equipment becomes worn out, lost, stolen, destroyed, irreparably damaged or unusable ("CASUALTY OCCURRENCES") Lessee shall promptly and fully notify Lessor in writing. Lessee shall pay Lessor the sum of (i) the Stipulated Loss Value (see Schedule) of the affected unit determined as of the rent payment date prior to the Casualty Occurrence; and (ii) all rent and other amounts which are then due under this Agreement on the Payment Date (defined below) for the affected unit. The Payment Date shall be the next rent payment date after the Casualty Occurrence. Upon Payment of all sums due hereunder, the term of this lease as to such unit shall terminate.
STIPULATED LOSS VALUE. As of any Stipulated Loss Value Determination Date during the Basic Term, the amount determined by multiplying the Purchase Price by the percentage set forth in Schedule III of the Lease under the heading "Stipulated Loss Value Factor" opposite such date (as such Schedule III may be adjusted from time to time as provided in Section 3.04 of the Lease), and during any Renewal Term, the amount determined pursuant to Section 4.01(b)
STIPULATED LOSS VALUE. Lessee shall promptly and fully notify Lessor in writing if any unit of Equipment shall be or become worn out, lost, stolen, destroyed, irreparably damaged in the reasonable determination of Lessee, or permanently rendered unfit for use from any cause whatsoever (such occurrences being hereinafter called "Casualty Occurrences"). On the rental payment date next succeeding a Casualty Occurrence (the "Payment Date"), Lessee shall pay Lessor the sum of (x) the Stipulated Loss Value of such unit calculated as of the rental next preceding such Casualty Occurrence ("Calculation Date"); and (y) all rental and other amounts which are due hereunder as of the Payment Date. Upon payment of all sums due hereunder, the term of this lease as to such unit shall terminate and (except in the case of the loss, theft or complete destruction of such unit) Lessor shall be entitled to recover possession of such unit.
STIPULATED LOSS VALUE. After Lessor’s receipt of notice of the occurrence of any Total Loss of any Unit, Lessor shall calculate the Stipulated Loss Value for such Unit and give Lessee notice thereof. Such “Stipulated Loss Value”, as of any particular date, shall be the product obtained by multiplying the Lessor’s Cost for the Unit in question by the percentage, as set forth in the “Schedule of Stipulated Loss Values” attached as Annex II, specified opposite the rent installment number (or date) becoming due immediately after the date Lessee gives or is required to give Lessor notice requiring payment of the Stipulated Loss Value. If only a portion of the Units is affected by any event causing calculation of Stipulated Loss Value, and the cost of such portion cannot be readily determined from the Lessor’s Cost set forth above, then the Lessor’s Cost for such portion shall be as reasonably calculated by Lessor, which shall be binding upon Lessee absent manifest error.
STIPULATED LOSS VALUE. For purposes of this Schedule only, the "Stipulated Loss Value" of any item of Equipment during its Lease Term equals the aggregate of the following as of the date specified by Lessor:
(a) all accrued and unpaid interest, late charges and other amounts due under this Schedule and the Master Lease to the extent it relates to this Schedule as of such specified date, plus (b) the remaining principal balance due and payable by Lessee under this Schedule as of such specified date, plus (c) interest on the amount described in the foregoing clauses (a) and (b) at the Overdue Rate commencing with the specified date; provided, that the foregoing calculation shall not exceed the maximum amount which may be collected by Lessor from Lessee under applicable law in connection with enforcement of Lessor's rights under this Schedule and the Master Lease to the extent it relates to this Schedule.
STIPULATED LOSS VALUE. The Stipulated Loss Values applicable to the Equipment and this Lease are as set forth on a supplement (the "Stipulated Loss Value Supplement") prepared by Lessor.
STIPULATED LOSS VALUE. Notwithstanding the provision of Section 12 of the Master Lease, the Stipulated Loss Value for the Equipment during the Renewal Lease Term shall be equal to $10,000.00.
STIPULATED LOSS VALUE. If any property becomes lost, stolen, destroyed, or damaged beyond repair, STI shall pay MDC in cash the "Stipulated Loss Value" as set forth in Schedule A, less any net proceeds of insurance for the property received by MDC. Upon payment, this Agreement shall terminate with respect to that item of property and STI shall become entitled to the property on an "as-is, where-is" basis, without warranty, express or implied, for any matter whatsoever.
STIPULATED LOSS VALUE. Lessees shall promptly and fully notify Lessor in writing if any unit of Equipment shall be or become worn out, lost, stolen, destroyed, irreparably damaged in the reasonable determination of Lessees, or permanently rendered unfit for use from any cause whatsoever including, but not limited to, the exercise of eminent domain or condemnation rights (such occurrences being hereinafter called "Casualty Occurrences"). On the rental payment date next succeeding a Casualty Occurrence (the "Payment Date"), Lessees shall either (as selected by Lessees):
(a) replace the unit of Equipment having suffered the Casualty Occurrence with equipment of comparable make and model, having an equal or greater value, utility and remaining useful life assuming that such Equipment has been maintained in accordance with the provisions of this Agreement (as reasonably determined by Lessor for all Equipment other than Equipment having an aggregate value of less than $100,000), free and clear of all liens and encumbrances, and shall deliver to Lessor a bxxx of sale, an Equipment Schedule, such Uniform Commercial Code financing statements or statements of amendment and such other documents, instruments, filings and/or certificates as reasonably may be required by Lessor with respect to such replacement Equipment; or
(b) pay Lessor the sum of (x) the Stipulated Loss Value of such unit calculated in accordance with Annex D to the applicable Schedule as of the rental payment date next preceding such Casualty Occurrence ("Calculation Date"); and (y) all Rents, rental and other amounts which are due hereunder as of the Payment Date. Upon payment of all sums due hereunder, the Term of this lease as to such unit shall terminate and (except in the case of the loss, theft or complete destruction of such unit) Lessor shall be entitled to recover possession of such unit.
STIPULATED LOSS VALUE. Notwithstanding the provisions of Section 7 of the Master Lease, the Stipulated Loss Value for the Equipment during the renewal Lease Term shall be equal to 40 percent of the Equipment Cost.
