Common use of Third Party Sale of Equipment Clause in Contracts

Third Party Sale of Equipment. This Section 29.1 shall apply only if a sale of the Items of Equipment to a third party pursuant to Section 28.3 has been consummated on the Termination Date. If the Net Proceeds of Sale of such Items of Equipment are less than the aggregate Casualty Loss Value as of the Termination Date, Lessee shall, on the Termination Date, pay to Lessor as an end of term Lease Payment adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Payment payable under this Lease Agreement for such Items of Equipment plus the Lease Payment due and payable for such Item(s) of Equipment on the Termination Date, plus any Supplemental Payments then due and owing to Lessor hereunder; provided, however, that if no Lease Event of Default or Lease Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee with respect to such Items of Equipment shall not exceed the aggregate Maximum Lessee Risk Amount. If the Net Proceeds of Sale of such Items of Equipment exceed the aggregate Casualty Loss Value of such Items of Equipment and if Lessee shall have paid Lessor on or before the Termination Date the Lease Payment due and payable for such Items of Equipment on the Termination Date, plus all Supplemental Payments then due and owing with respect to such Items of Equipment, Lessor shall pay to such Lessee an amount equal to such excess as an adjustment to the Lease Payment payable under this Lease Agreement for such Items of Equipment.

Third Party Sale of Equipment. This Section 29.1 shall apply only if no Lease Default or Lease Event of Default has occurred and a sale of the Items of Equipment to a third party pursuant to Section 28.3 has been consummated on the Termination Date. If the Net Proceeds of Sale of such Items of Equipment are less than the aggregate Casualty Loss Value Acquisition Costs as of the Termination Date, Lessee shall, on the Termination Date, pay to Lessor as an end of term Lease Payment adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Payment payable under this Lease Agreement for such Items of Equipment plus the Lease Payment due and payable for such Item(s) of Equipment on the Termination Date, plus any Supplemental Payments then due and owing to Lessor hereunder; provided, however, that if no Lease Event of Default or Lease Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee with respect to such Items of Equipment shall not exceed the aggregate Maximum Lessee Risk Amount. If the Net Proceeds of Sale of such Items of Equipment exceed the aggregate Casualty Loss Value Acquisition Cost of such Items of Equipment and if Lessee shall have paid Lessor on or before the Termination Date the Lease Payment due and payable for such Items of Equipment on the Termination Date, plus all Supplemental Payments then due and owing with respect to such Items of Equipment, Lessor shall pay to such Lessee an amount equal to such excess as an adjustment to the Lease Payment payable under this Lease Agreement for such Items of Equipment.

Third Party Sale of Equipment. This Section 29.1 26.1 shall apply only if if, with respect to any Non-Renewal Item(s) of Equipment, a sale of the Items of Equipment such Item(s) to a third party pursuant to Section 28.3 25.3 hereof has been consummated on the Termination Date. If the Net Proceeds of Sale of such Items of Equipment Item(s) are less than the aggregate Casualty Loss Estimated Residual Value of such Item(s) as of the such Termination Date, Lessee Obligor shall, on the Termination Date, pay to Lessor Corporate Obligee as an end of term Lease Equipment Payment adjustment, in immediately available funds, an amount equal to such deficiency (a "“Deficiency"”) as an adjustment to the Lease Equipment Payment payable under this Lease Equipment Agreement for such Items of Equipment Item(s), plus the Lease Equipment Payment due and payable for such Item(s) of Equipment on the Termination Date, plus any Supplemental Payments then due and owing to Lessor Corporate Obligee hereunder; provided, however, that if no Lease Equipment Agreement Event of Default or Lease event which, with notice or passage of time or both would constitute an Equipment Agreement Event of Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee Obligor with respect to such Items of Equipment Item(s) shall not exceed the aggregate Maximum Lessee Obligor Risk AmountAmount then applicable to such Item(s). If the Net Proceeds of Sale of such Items Item(s) of Equipment exceed the aggregate Casualty Loss Estimated Residual Value of such Items of Equipment Item(s) and if Lessee no Equipment Agreement Event of Default or event which, with notice or passage of time or both would constitute an Equipment Agreement Event of Default, shall have occurred and be continuing hereunder and Obligor shall have paid Lessor Corporate Obligee on or before the Termination Date the Lease Equipment Payment due and payable for such Items Item(s) of Equipment on the Termination Date, plus all Supplemental Payments then due and owing with respect to such Items of EquipmentItem(s), Lessor Corporate Obligee shall pay to such Lessee Obligor an amount equal to such excess as an adjustment to the Lease Equipment Payment payable under this Lease Equipment Agreement for such Items of EquipmentItem(s).

Third Party Sale of Equipment. This Section 29.1 29(a) shall apply only if if, with respect to any Item(s) of Equipment, a sale of the Items of Equipment such Item(s) to a third party pursuant to Section 28.3 28 (c) hereof has been consummated on the Termination DateDate thereof. If the Net Proceeds of Sale of such Items of Equipment Item(s) are less than the aggregate Casualty Loss Estimated Residual Value of such Item(s) as of the such Termination Date, Lessee shall, on the Termination Date, pay to Lessor as an end End of term Lease Payment adjustmentTerm Rental Adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Payment Rent payable under this Lease Agreement for such Items of Equipment Item, plus the Lease Payment Basic Rent due and payable for such Item(s) Item of Equipment on the Termination Date, if Basic Rent for such Item is payable in arrears, plus any Supplemental Payments then due and owing to Lessor hereunder; provided, however, that if no Lease Event of Default or Lease event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee with respect to such Items of Equipment Item(s) shall not exceed the aggregate Maximum Lessee Risk AmountAmount then applicable to such Item(s). If the aggregate Net Proceeds of Sale of such Items all Item(s) of Equipment subject to this Lease exceed the aggregate Casualty Loss Estimated Residual Value of such Items of Equipment Item(s) and if no Event of Default or event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder and Lessee shall have paid Lessor on or before the each Termination Date the Lease Payment Basic Rent due and payable for such Items the Item(s) of Equipment whose Term is expiring on the such Termination Date, if Basic Rent for such Item(s) is payable in arrears, plus all Supplemental Payments then due and owing with respect to such Items of EquipmentItem(s), plus any amounts due pursuant to Section 29(c) hereof, Lessor shall pay to such Lessee on the Termination Date of the Item(s) of Equipment whose Term expires last under this Lease an amount equal to such excess as an adjustment to the Lease Payment Rent payable under this Lease Agreement for such Items of EquipmentLease.

Third Party Sale of Equipment. This Section 29.1 29(a) shall apply only if if, with respect to any Item(s) of Equipment, a sale of the Items of Equipment Obligee's interest in such Item(s) to a third party pursuant to Section 28.3 28(c) hereof has been consummated on the Termination Date. If the Net Proceeds of Sale of Obligee's interest in such Items of Equipment are Item(s) is less than the aggregate Casualty Loss Estimated Residual Value of such Item(s) as of the such Termination Date, Lessee Obligor shall, on the Termination Date, pay to Lessor Obligee as an end End of term Lease Payment adjustmentTerm Adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Payment Basic Payments payable under this Lease Agreement for such Items of Equipment Item, plus the Lease Basic Payment due and payable for such Item(s) of Equipment on the Termination Date, if Basic Payments for such Item(s) are payable in arrears, plus any Supplemental Payments then due and owing to Lessor Obligee hereunder; providedPROVIDED, howeverHOWEVER, that if no Lease Event of Default or Lease event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee Obligor with respect to such Items of Equipment Item(s) shall not exceed the aggregate Maximum Lessee Obligor Risk AmountAmount then applicable to such Item(s). If the Net Proceeds of Sale of such Items Item(s) of Equipment exceed exceeds the aggregate Casualty Loss Estimated Residual Value of such Items of Equipment Item(s) and if Lessee no Event of Default or event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder and Obligor shall have paid Lessor Obligee on or before the Termination Date the Lease Basic Payment due and payable for such Items Item(s) of Equipment on the Termination Date, if Basic Payments for such Item(s) are payable in arrears, plus all Supplemental Payments then due and owing with respect to such Items of EquipmentItem(s), Lessor plus any amounts due pursuant to Section 29(c) hereof, Obligee shall pay to such Lessee Obligor an amount equal to such excess as an adjustment to the Lease Payment Basic Payments payable under this Lease Agreement for such Items of EquipmentItem(s).

Third Party Sale of Equipment. This Section 29.1 26.1 shall apply only if if, with respect to any Non-Renewal Item(s) of Equipment, a sale of the Items of Equipment such Item(s) to a third party pursuant to Section 28.3 25.3 hereof has been consummated on the Termination Date. If the Net Proceeds of Sale of such Items of Equipment Item(s) are less than the aggregate Casualty Loss Estimated Residual Value of such Item(s) as of the such Termination Date, Lessee Obligor shall, on the Termination Date, pay to Lessor Obligee as an end of term Lease Equipment Payment adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Equipment Payment payable under this Lease Equipment Agreement for such Items of Equipment Item(s), plus the Lease Equipment Payment due and payable for such Item(s) of Equipment on the Termination Date, plus any Supplemental Payments then due and owing to Lessor Obligee hereunder; provided, however, that if no Lease Equipment Agreement Event of Default or Lease event which, with notice or passage of time or both would constitute an Equipment Agreement Event of Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee Obligor with respect to such Items of Equipment Item(s) shall not exceed the aggregate Maximum Lessee Obligor Risk AmountAmount then applicable to such Item(s). If the Net Proceeds of Sale of such Items Item(s) of Equipment exceed the aggregate Casualty Loss Estimated Residual Value of such Items of Equipment Item(s) and if Lessee no Equipment Agreement Event of Default or event which, with notice or passage of time or both would constitute an Equipment Agreement Event of Default, shall have occurred and be continuing hereunder and Obligor shall have paid Lessor Obligee on or before the Termination Date the Lease Equipment Payment due and payable for such Items Item(s) of Equipment on the Termination Date, plus all Supplemental Payments then due and owing with respect to such Items of EquipmentItem(s), Lessor Obligee shall pay to such Lessee Obligor an amount equal to such excess as an adjustment to the Lease Equipment Payment payable under this Lease Equipment Agreement for such Items of EquipmentItem(s).

Third Party Sale of Equipment. This Section 29.1 29(a) shall apply ------------------------------ only if if, with respect to any Item(s) of Equipment, a sale of the Items of Equipment Obligee's interest in such Item(s) to a third party pursuant to Section 28.3 28(c) hereof has been consummated on the Termination Date. If the Net Proceeds of Sale of Obligee's interest in such Items of Equipment are Item(s) is less than the aggregate Casualty Loss Estimated Residual Value of such Item(s) as of the such Termination Date, Lessee Obligor shall, on the Termination Date, pay to Lessor Obligee as an end End of term Lease Payment adjustmentTerm Adjustment, in immediately available funds, an amount equal to such deficiency (a "Deficiency") as an adjustment to the Lease Payment Payments payable under this Lease Agreement for such Items of Equipment Item, plus the Lease Payment Payments due and payable for such Item(s) of Equipment on the Termination Date, if Payments for such Item(s) are payable in arrears, plus any Supplemental Payments then due and owing to Lessor Obligee hereunder; provided, however, that if no Lease Event of Default or Lease ----------------- event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder, the amount of the Deficiency payable by Lessee Obligor with respect to such Items of Equipment Item(s) shall not exceed the aggregate Maximum Lessee Obligor Risk AmountAmount then applicable to such Item(s). If the Net Proceeds of Sale of such Items Item(s) of Equipment exceed exceeds the aggregate Casualty Loss Estimated Residual Value of such Items of Equipment Item(s) and if Lessee no Event of Default or event which, with notice or passage of time or both would constitute an Event of Default, shall have occurred and be continuing hereunder and Obligor shall have paid Lessor Obligee on or before the Termination Date the Lease Payment Payments due and payable for such Items Item(s) of Equipment on the Termination Date, if Payments for such Item(s) are payable in arrears, plus all Supplemental Payments then due and owing with respect to such Items of EquipmentItem(s), Lessor plus any amounts due pursuant to Section 29(c) hereof, Obligee shall pay to such Lessee Obligor an amount equal to such excess as an adjustment to the Lease Payment Payments payable under this Lease Agreement for such Items of EquipmentItem(s).