Common use of TERMINAL RENTAL ADJUSTMENT Clause in Contracts

TERMINAL RENTAL ADJUSTMENT. It is presently anticipated that the fair market value of the Equipment upon the expiration of the original lease term relating thereto will be an amount equal to 25 percent of the Total Invoice Cost of the Equipment (the "Estimated Residual Value"). Upon expiration of the original lease term, Lessor will attempt to sell the Equipment. If the Net Proceeds of Sale (as hereafter defined) is less than the Estimated Residual Value, promptly upon demand Lessee shall pay to Lessor the amount of the difference (not to exceed 12.35 percent of the Total Invoice Cost of the Equipment). If the Net Proceeds of Sale exceeds the Estimated Residual Value, the amount of the difference promptly shall be paid by Lessor to Lessee. If the Equipment has not been sold on the expiration date of the original lease term relating thereto, then the Net Proceeds of Sale shall be deemed to be zero; and promptly upon demand Lessee shall pay to Lessor an amount equal to 12.35 percent of the Total Invoice Cost of the Equipment. If Lessor hereafter shall sell the Equipment, the Net Proceeds of Sale promptly shall be distributed as follows: first, an amount equal to 12.65 percent of the Total Invoice Cost of the Equipment shall be retained by Lessor (in addition to the amount previously paid by Lessee to Lessor); and second, the balance (if any) promptly shall be paid by Lessor to Lessee. Any such payment by either Lessee or Lessor shall be deemed to be a Terminal Rental Adjustment with respect to the Equipment. As used herein, "Net Proceeds of Sale" shall mean the gross selling price actually received by Lessor less all (i) selling expenses incurred by Lessor, (ii) amounts which (if not paid) would constitute a lien on the Equipment for which Lessee is responsible under the Lease, and (iii) applicable sales or other transfer taxes paid by Lessor.

TERMINAL RENTAL ADJUSTMENT. It is Is presently anticipated that the fair market value of the Equipment upon the expiration of the original lease term relating thereto will be an amount equal to 25 percent of the Total Invoice Cost of the Equipment (the "Estimated Residual Value"). Upon expiration of the original lease term, Lessor will attempt to sell the Equipment. If the Net Proceeds of Sale (as hereafter defined) is less than the Estimated Residual Value, promptly upon demand Lessee shall pay to Lessor the amount of the difference (not to exceed 12.35 14.9 percent of the Total Invoice Cost of the Equipment). If the Net Proceeds of Sale exceeds the Estimated Residual Value, the amount of the difference promptly shall be paid by Lessor to Lessee. If the Equipment has not been sold on the expiration date of the original lease term relating thereto, then the Net Proceeds of Sale shall be deemed to be zero; and promptly upon demand Lessee shall pay to Lessor an amount equal to 12.35 14.9 percent of the Total Invoice Cost of the Equipment. If !f Lessor hereafter thereafter shall sell the Equipment, the Net Proceeds of Sale promptly shall be distributed as follows: first, an amount equal to 12.65 10.1 percent of the Total Invoice Cost of the Equipment shall be retained by Lessor (in addition to the amount previously paid by Lessee to Lessor); and second, the balance (if any) promptly shall be paid by Lessor to Lessee. Any such payment by either Lessee or Lessor shall be deemed to be a Terminal Rental Adjustment with respect to the Equipment. As used herein, "Net Proceeds of Sale" shall mean the gross selling price actually received by Lessor less all (i) selling expenses incurred by Lessor, (ii) amounts which (if not paid) would constitute a lien on the Equipment for which Lessee is responsible under the Lease, and (iii) applicable sales or other transfer taxes paid by Lessor.

TERMINAL RENTAL ADJUSTMENT. It is presently anticipated that the fair market value of the Equipment upon the expiration of the original lease term relating thereto will be an amount equal to 25 percent of the Total Invoice Cost Estimated Residual Value of the Equipment (the "Estimated Residual Value")specified on this Schedule. Upon expiration of the original lease term, Lessor will attempt to sell the Equipment. If the Net Proceeds of Sale (as hereafter defined) is less than thirty (30) percent of the Total Invoice Cost of the Equipment (the “Estimated Residual Value”), promptly upon demand Lessee shall pay to Lessor the amount of the difference (not to exceed 12.35 percent of the Total Invoice Cost of the Equipment)difference. If the Net Proceeds of Sale exceeds the Estimated Residual Value, the amount of the difference promptly shall be paid by Lessor to Lessee. If the Equipment has not been sold on the expiration date of the original lease term relating thereto, then the Net Proceeds of Sale shall be deemed to be zero; and promptly upon demand Lessee shall pay to Lessor an amount equal to 12.35 percent of the Total Invoice Cost Estimated Residual Value of the Equipment. If Lessor hereafter thereafter shall sell the Equipment, the Net Proceeds of Sale promptly shall be distributed as follows: first, an amount equal to 12.65 percent of the Total Invoice Cost of the Equipment shall be retained by Lessor (in addition to the amount previously paid by Lessee to Lessor); and second, the balance (if any) promptly shall be paid by Lessor to Lessee. Any such payment by either Lessee or Lessor shall be deemed to be a Terminal Rental Adjustment with respect to the Equipment. As used herein, "“Net Proceeds of Sale" ” shall mean the gross selling price actually received by Lessor less all (i) selling expenses incurred by Lessor, (ii) amounts which (if not paid) would constitute a lien on the Equipment for which Lessee is responsible under the Lease, and (iii) applicable sales or other transfer taxes paid by Lessor. As used herein, “Equipment” shall mean the Equipment described on all Schedules of this series.

TERMINAL RENTAL ADJUSTMENT. It is presently anticipated that the fair market value of the Equipment upon the expiration of the original lease term relating thereto will be an amount equal to 25 percent of the Total Invoice Cost Estimated Residual Value of the Equipment (specified on the "Estimated Residual Value")Schedule. Upon expiration of the original lease term, Lessor will attempt to sell the Equipment. If the Net Proceeds of Sale (as hereafter defined) is less than the Estimated Residual Value, promptly upon demand Lessee shall pay to Lessor the amount of the difference (not to exceed 12.35 percent of the Total Invoice Cost of Lessee Risk Amount specified on the EquipmentSchedule). If the Net Proceeds of Sale exceeds the Estimated Residual Value, the amount of the difference promptly shall be paid by Lessor to Lessee. If the Equipment has not been sold on the expiration date of the original lease term relating thereto, then the Net Proceeds of Sale shall be deemed to be zero; and promptly upon demand Lessee shall pay to Lessor an amount equal to 12.35 percent of the Total Invoice Cost of the EquipmentLessee Risk Amount. If Lessor hereafter thereafter shall sell the Equipment, the Net Proceeds of Sale promptly shall be distributed as follows: first, an amount equal to 12.65 percent of the Total Invoice Cost of Lessor Risk Amount specified on the Equipment Schedule shall be retained by Lessor (in addition to the amount previously paid by Lessee to Lessor); and second, the balance (if any) promptly shall be paid by Lessor to Lessee. Any such payment by either Lessee or Lessor shall be deemed to be a Terminal Rental Adjustment with respect to the Equipment. As used herein, "Net Proceeds of Sale" shall mean the gross selling price actually received by Lessor less all (i) selling expenses incurred by Lessor, (ii) amounts which (if not paid) would constitute a lien on the Equipment for which Lessee is responsible under the Lease, and (iii) applicable sales or other transfer taxes paid by Lessor.