Title; Personal Property. Except as otherwise provided in this Lease or any Schedule hereto, title to the Equipment shall at all times remain in Lessor. In the event any of the Equipment is software governed by a software license, Lessee shall keep said license current for the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through Lessee. Lessee hereby authorizes Lessor to cause this Lease or other instruments necessary, in Lessor's determination, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipment, and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee. If requested by Lessor, then Lessee agrees to execute and deliver any such instruments and agrees to pay or reimburse Lessor for any searches, filings, recordings, or stamp fees or taxes incurred as necessary to protect Lessor's interest in the Equipment. Lessee also authorizes Lessor to insert on any Schedule and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locations, and Commencement Dates. Lessee shall take all steps necessary to ensure that the Equipment is and remains personal property. Unless otherwise provided in writing, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination), at Lessor's request and subject to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoing.
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessorthe Equipment except that of a lessee. In the event I he Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels that the Equipment is software governed owned by a software license, Lessee shall keep said license current for the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, Le ssee shall affix such labels to and keep them in obtaining such consent. Lessee shall at all times keep a prominent place on the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through Lessee. Lessee hereby authorizes Lessor to insert in any Equipment Schedule the serial numbers and other identification date of Equipment when determined by Lessor. To protect Lessor's rights in the Equipment in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment, and all proceeds. products, rents or profits from the sale, casualty loss or other disposition thereof. Lessee hereby authorizes Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryrespect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipment, and re-filed and re-recorded. and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee's name thereto. If requested by Lessor, then Lessee agrees to execute execute, deliver and deliver file any statement or instrument requested by Lessor for such instruments purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee will cause the interest of Lessor to be properly noted thereon, and agrees to pay or reimburse Lessor for any reasonable searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes shall, at its expense, protect and defend Lessor to insert on s against all persons claiming against or through Lessee and shall at all times keep the Equipment free from any Schedule legal process or encumbrance whatsoever including without limitation liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby. Lessee shall, upon Lessor's request, execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation of perfection of Lessor's rights hereunder. The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereunder become, immediately upon the termination m any manner, affixed or expiration of the term of this Lease with respect attached to real property or any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination), at Lessor's request and subject to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoing.improvements hereon
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessor. In the event Equipment except that of Lessee and Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through LesseeEquipment. Lessee hereby authorizes Lessor to insert in this Lease the serial numbers, and other identification data of Equipment when determined by Lessor. To protect Lessor's rights in the Equipment in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment and all proceeds, rents or profits therefrom. Lessee authorizes Lessors, at Lessee's expense, to cause this Lease or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipmentand refiled and re-recorded, and grants Lessor the right to execute Lessee's name thereto. Lesseee agrees to execute, deliver and deliver such instruments for and on behalf of Lessee. If file any statement or instrument requested by LessorLessor for such purpose, then and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee agrees will cause the interest of Lessor to execute and deliver any such instruments be properly noted thereon, and agrees to pay or reimburse Lessor for any searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor shall, at its expense, protect and defend Lessor's title against all persons claiming against or through Lessee, at all times keeping the Equipment free from any legal process or encumbrance whatsoever including but not limited to insert on any Schedule liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby, Lessee shall, upon Lessor's request execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. Lessee The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereafter become, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination)manner, at Lessor's request and subject affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease The Equipment is and shall at all times remain, the property of Lessor or any Schedule heretoits assignees, and title to the Equipment shall at all times remain with Lessor, and Lessee shall have no right, title or interest therein except as set forth in Lessorthis Lease. In the event any of If Lessor supplies Lessee with labels or other markings indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through LesseeEquipment. Lessee hereby authorizes Lessor to cause insert in this Lease or Schedule the serial numbers, and any other instruments necessaryidentification data of Equipment when determined by Lessor. This Lease is intended by the parties to be a lease and not a security agreement subject to Article 9 of the Uniform Commercial Code. However, in the event this Lease is determined to be a security agreement, Lessee hereby grants Lessor a security interest in the Equipment and authorizes Lessor's determination, at Lessee’s expense, to cause this Lease, or any statement or other instrument showing the interest of Lessor in the Equipment, including Uniform Commercial Code Financing Statements to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipment, and re-filed and re-recorded and grants Lessor the right to execute and deliver such instruments for and Lessee’s name on behalf of Lessee. If requested by Lessor, then Lessee agrees to execute and deliver any such instruments and instrument. Lessee agrees to pay or reimburse Lessor for its administrative costs and out of pocket expenses relating to any searches, searches undertaken by Lessor or any filings, recordingsrecords, or stamp fees or taxes incurred as necessary to protect Lessor's interest in arising from the Equipmentfiling or recording or any such instrument or statement. Lessee also authorizes Lessor to insert on any Schedule and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locations, and Commencement Dates. Lessee shall take all steps necessary to ensure that the Equipment is and remains personal property. Unless otherwise provided in writing, immediately upon the termination or expiration of the term of this Lease Except with respect to any Scheduleliens arising by, through or under Lessor, Lessee shall: discontinue shall at its use of sole expense protect and defend Lessor’s title to the Equipment against all persons, at all times keeping the Equipment free from any legal process, lien or encumbrance whatsoever including but not limited to liens, attachments, levies and executions, and shall give Lessor immediate written notice thereof and shall indemnify Lessor from any Items constituting software; return the Equipmentloss caused thereby. Lessee shall execute or obtain from third parties and deliver to Lessor, including any Items constituting tangible softwareupon Lessor’s request, to Lessor at such place further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor’s rights hereunder. The Equipment is and shall designate within at all times be and remain personal property notwithstanding that the continental United States; destroy Equipment or any Items constituting intangible software part thereof may now be or records thereof; not retain any Items constituting software hereafter become in any form; and granx Xxxxxx xxx right (which shall survive termination), at Lessor's request and subject manner affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract
Samples: Master Lease Agreement (Sigmatron International Inc)
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessorthe Equipment except that of a lessee. In the event The Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in LessorEquipment. LESSEE HEREBY AUTHORIZES LESSOR TO INSERT IN ANY EQUIPMENT SCHEDULE THE SERIAL NUMBERS AND OTHER IDENTIFICATION DATA OF EQUIPMENT WHEN DETERMINED BY LESSOR. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment, and all persons claiming against proceeds, products, rents or through Lesseeprofits from the sale, casualty loss or other disposition thereof. Lessee hereby authorizes Lessor Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order and re-filed and re-recorded. Lessee agrees to protect Lessor's interest in execute, deliver and file any statement or instrument requested by Lessor for such purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, and grants Lessee will cause the interest of Lessor the right to execute and deliver such instruments for and on behalf of Lessee. If requested by Lessorbe properly noted thereon, then Lessee agrees to execute and deliver any such instruments and agrees to pay or reimburse Lessor for any reasonable searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor to insert on shall, at its expense, protect and defend Lessor's title against all persons claiming against or through Lessee and shall at all times keep the Equipment free from any Schedule legal process or encumbrance whatsoever including without limitation liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby. Lessee shall, upon Lessor's request, execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereafter become, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination)manner, at Lessor's request and subject affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract
Samples: Master Lease Agreement (Sigmatron International Inc)
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessor. In the event Equipment except that of Lessee and Lessee shall have the right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through LesseeEquipment. Lessee hereby authorizes Lessor to insert in this Lease the serial numbers, and other identification data of Equipment when determined by Lessor. To protect Lessor's rights in the Equipment in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment described herein and in the Schedules or in any invoices that contain descriptions of the Equipment, and all proceeds and products thereof. Lessee hereby authorizes Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipmentrecorded, and grants Lessor and its agents the right to execute and deliver such instruments for and on behalf of Lessee's name thereto. If requested by Lessor, then Lessee agrees to execute execute, deliver and deliver file any statement or instrument requested by Lessor for such instruments purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee will cause the interest of Lessor to be properly noted thereon, and agrees to pay or reimburse Lessor for any searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor shall, at its expense, protect and defend Lessor's title against all persons claiming against or through Lessee, at all times keeping the Equipment free from any legal process or encumbrance whatsoever including but not limited to insert on any Schedule liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby. Lessee shall, upon Lessor's request, execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal propertyor any part thereof may now be or hereafter become, in any manner, affixed or attached to real property or any improvements thereon. Unless otherwise provided in writing, immediately upon the termination or expiration Lessee agrees to pay Lessor a non-refundable fee of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment$250 for Lessor's documentation costs, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within without limitation the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination), at Lessor's request and subject to Lessee's reasonable security requirements, to inspect all preparation of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingfinancing statements.
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoSchedule, title to the Equipment shall remain in Lessor. Lessee shall at all times remain keep the Equipment free and clear of all liens, claims, levies, and legal processes, and shall at its expense protect and defend Lessor’s title and/or license rights in Lessorthe Equipment. In the event any of the Equipment is software governed by by, or dependent upon a software license, Lessee shall keep said license current for the entire lease term Term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To Lessee acknowledges that the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys license to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond is being provided by the lease term except as otherwise provided Manufacturer solely because of payments made by Lessor and in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights consideration therefor Lessor has obtained Lessee’s interest in the Equipment against all persons claiming against or through LesseeLicense. Lessee hereby agrees and does hereby appoint Lessor or its assigns its true and lawful attorney-in-fact to prepare financing statements or other instruments Lessor deems necessary, and authorizes Lessor to cause this Lease or other instruments necessary, in Lessor's determination, ’s determination to be filed or recorded at Lessee's ’s expense in order to protect Lessor's ’s interest in the Equipment, and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee. If requested by Lessor, then Lessee agrees to execute and deliver any such instruments and agrees to pay or reimburse Lessor for any searches, filings, recordings, inspections, fees, taxes or stamp fees or taxes any other costs incurred as necessary to protect Lessor's ’s interest in the Equipment. Lessee also authorizes Lessor to insert on any Schedule and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locations, and Commencement Dates, and Final Commencement Date. Lessee shall take all steps necessary to ensure that the Equipment is and remains personal property. Unless otherwise provided in writing, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination), at Lessor's request and subject to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoing.
Appears in 1 contract
Samples: Master Lease Agreement (CareView Communications Inc)
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessorthe Equipment except that of a lessee. In the event The Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in LessorEquipment. LESSEE HEREBY AUTHORIZES LESSOR TO INSERT IN ANY EQUIPMENT SCHEDULE THE SERIAL NUMBERS AND OTHER IDENTIFICATION DATA OF EQUIPMENT WHEN DETERMINED BY LESSOR. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment, and all persons claiming against proceeds, products, rents or through Lesseeprofits from the sale, casualty loss or other disposition thereof. Lessee hereby authorizes Lessor Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipmentand re-filed and re-recorded, and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee's name thereto. If requested by Lessor, then Lessee agrees to execute execute, deliver and deliver file any statement or instrument requested by Lessor for such instruments purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee will cause the interest of Lessor to be properly noted thereon, and agrees to pay or reimburse Lessor for any reasonable searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor to insert on shall, at its expense, protect and defend Lessor's title against all persons claiming against or through Lessee and shall at all times keep the Equipment free from any Schedule legal process or encumbrance whatsoever including without limitation liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby. Lessee shall, upon Lessor's request, execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereafter become, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination)manner, at Lessor's request and subject affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessorthe Equipment except that of a lessee. In the event The Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in Lessor. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against all persons claiming against or through LesseeEquipment. Lessee hereby authorizes Lessor to insert in any Equipment Schedule the serial numbers and other identification data of Equipment when determined by Lessor. To protect Lessor's rights in the Equipment in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment, and all proceeds, products, rents or profits from the sale, casualty loss or other disposition thereof. Lessee hereby authorizes Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipmentand re-filed and re-recorded, and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee's name thereto. If requested by Lessor, then Lessee agrees to execute execute, deliver and deliver file any statement or instrument requested by Lessor for such instruments purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee will cause the interest of Lessor to be properly noted thereon, and agrees to pay or reimburse Lessor for any reasonable searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of any such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor to insert on any Schedule shall, at its expense, protect and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers defend Lessor's title against all persons claiming limitation liens, attachments, levies and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss waivers and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. Lessee The Equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereafter become, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination)manner, at Lessor's request and subject affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract
Title; Personal Property. Except as otherwise provided in this Lease or any Schedule heretoThe Equipment is, title to the Equipment and shall at all times remain be owned by Lessor and Lessee shall have no interest in Lessorthe Equipment except that of a lessee. In the event The Lessee shall have no right to purchase or otherwise acquire title to or ownership of any of the Equipment. If Lessor supplies Lessee with labels indicating that the Equipment is software governed owned by a software licenseLessor, Lessee shall affix such labels to and keep said license current for them in a prominent place on the entire lease term and, to the extent the license allows title to the software to pass to licensee, such title shall vest and remain in LessorEquipment. LESSEE HEREBY AUTHORIZES LESSOR TO INSERT ANY EQUIPMENT SCHEDULE THE SERIAL NUMBERS AND OTHER IDENTIFICATION DATA OF EQUIPMENT WHEN DETERMINED BY LESSOR. To the extent that such vesting requires a written conveyance from Lessee, Lessee hereby conveys to Lessor any title it has or may hereafter acquire in the software and forgoes any future claim to the software including any right to purchase and/or use the software beyond the lease term except as otherwise provided in this Lease or the related Schedule. If the software license restricts any provision of this Lease without the licensor's consent, then Lessee shall assist Lessor, if so requested, in obtaining such consent. Lessee shall at all times keep the Equipment free and clear of all liens, claims, levies, and legal processes, except those inherent to this Lease, and shall at its expense protect and defend Lessor's title and/or license rights in the Equipment against in the event this Lease is determined to be a security agreement, Lessee hereby grants to Lessor a security interest in the Equipment, and all persons claiming against proceeds, products, rents or through Lesseeprofits from the sale, casualty loss or other disposition thereof. Lessee hereby authorizes Lessor Lessor, at Lessee's expense, to cause this Lease Lease, or any statement or other instruments necessaryinstrument in respect of this Lease showing the interest of Lessor in the Equipment, in Lessor's determinationincluding Uniform Commercial Code financing statements, to be filed or recorded at Lessee's expense in order to protect Lessor's interest in the Equipmentand re-filed and re-recorded, and grants Lessor the right to execute and deliver such instruments for and on behalf of Lessee's name thereto. If requested by Lessor, then Lessee agrees to execute execute, deliver and deliver file any statement of instrument requested by Lessor for such instruments purpose, and if certificates of title are issued or outstanding with respect to any of the Equipment, Lessee will cause the interest to Lessor to be properly noted thereon, and agrees to pay or reimburse Lessor for any reasonable searches, filings, recordings, or stamp fees or taxes incurred as necessary related to protect the filing or recording of such instrument or statement, plus Lessor's interest in the Equipmenthandling charges. Lessee also authorizes Lessor to insert on shall, at its expense, protect and defend Lessor's title against all persons claiming against or through Lessee and shall at all times keep the Equipment free from any Schedule legal process or encumbrance whatsoever including without limitation liens, attachments, levies and on related supplemental lease documentation information commonly determined after execution by Lessee such as: serial numbers and other Equipment identification data, Equipment locationsexecutions, and Commencement Datesshall give Lessor immediate written notice thereof and shall indemnify Lessor from any loss caused thereby. Lessee shall, upon Lessor's request, execute or obtain from third parties and deliver to Lessor such estoppel certificates, landlord's waiver and such further instruments and assurances as Lessor deems necessary or advisable for the confirmation or perfection of Lessor's rights hereunder. The equipment is, and shall take at all steps necessary to ensure times be and remain, personal property notwithstanding that the Equipment is and remains personal property. Unless otherwise provided in writingor any part thereof may now be or hereafter become, immediately upon the termination or expiration of the term of this Lease with respect to any Schedule, Lessee shall: discontinue its use of the Equipment including any Items constituting software; return the Equipment, including any Items constituting tangible software, to Lessor at such place as Lessor shall designate within the continental United States; destroy any Items constituting intangible software or records thereof; not retain any Items constituting software in any form; and granx Xxxxxx xxx right (which shall survive termination)manner, at Lessor's request and subject affixed or attached to Lessee's reasonable security requirements, to inspect all of Lessee's locations to insure compliance with the provisions of this sentence. In the event Lessee fails to comply with real property or any of the foregoing upon the termination or expiration of the lease term with respect to any Schedule, then rent for said Schedule shall continue to be due and payable in full by Lessee for each month until Lessee has complied with all of the foregoingimprovements thereon.
Appears in 1 contract