Trust Equipment Lease of the Participation Agreement, delivery of the Equipment on the Closing Date therefor and simultaneously to lease such Equipment to the Lessee hereunder for the Lease Term and the Lessee hereby agrees to simultaneously lease from the Lessor Trustee for the Lease Term the interest of the Lessor Trustee in the Equipment, such leasing to be evidenced by the execution by the Lessor Trustee and the Lessee of a Lease Supplement covering the Items of Equipment delivered on the Closing Date.
Trust Equipment Lease. (c) The Lessee agrees that it will not change the location of any Item of Equipment, unless prior to or concurrently with such change the Lessee shall have filed, or caused to be filed, Uniform Commercial Code financing statements (including, without limitation, fixture filings) with respect to such Item of Equipment in form and substance satisfactory to the Lessor Trustee in the jurisdiction in which such Item of Equipment is located.
Trust Equipment Lease. (b) Upon the expiration or earlier termination of the Lease Term, the Lessee, at its sole expense, shall de-install, crate and return the Equipment to the Lessor Trustee by delivering such Equipment F.A.S. or F.O.B. to such location or such carrier (packed for shipping) as the Lessor Trustee shall specify. The Equipment shall be removed by a licensed erector/rigger specializing in the crating, removal, transportation and reassembly of the Equipment, and deinstallation shall be performed in a prescribed manner including proper marking, and labeling of all electrical wires and components. The Lessee agrees that the Equipment, when returned, shall be in the condition required by Section 9.1 hereof. Accordingly, if, during the Lease Term, the Equipment has not been given all scheduled maintenance and overhauls and all repairs that are necessary to continue operating the Equipment at normal commercial conditions in accordance with Section 9.1, then the Lessee shall cause such restorative or repair work to be performed on the Equipment as necessary to bring the Equipment into the condition that the Equipment would have been in, had the Lessee complied with Section 9.1 throughout the Lease Term. All components of the Equipment shall have been properly serviced, following the manufacturer's written operating and servicing procedures, such that the Equipment is eligible for a manufacturer's standard, full service maintenance contract without the Lessor Trustee's incurring any expense to repair or rehabilitate the Equipment. If, during the Lease Term, replacement of all parts and components has not been made in accordance with Section 10.1 so that the loss in operating efficiency, value, utility and remaining useful life of the Items of Equipment is more than that expected from normal wear and tear or as reflected in the initial Appraisal, then the Lessee, at its expense, shall cause such repair and restorative work to be performed on the Items of Equipment as is necessary to bring the Items of Equipment into the condition that the Items of Equipment would have been in had such replacement of parts and components been made. If, in the opinion of the Lessor Trustee, any Item of Equipment fails to meet the standards set forth above, the Lessee agrees to pay on demand all costs and expenses incurred in connection with repairing such Item of Equipment and restoring it so as to meet such standards, assembling and delivering such Item of Equipment. If the Lessee fails to ...
Trust Equipment Lease. (i) Upon the expiration or earlier termination of the Lease Term, the Lessee shall cause all Liens (other than Lessor's Liens) on the Items of Equipment to be extinguished.
Trust Equipment Lease. If the Lessor Trustee shall, pursuant to this Lease or any other Operative Agreement, rightfully demand possession of the Items of Equipment and cessation of the Lessee's rights in such Items of Equipment pursuant to this Lease, the Lessee, at its expense, shall forthwith comply with this Section 9.4 with respect to all Items of Equipment, and deliver exclusive possession of such Items of Equipment to the Lessor Trustee, subject to the Lessee's obligations under Sections 9 and 10.
Trust Equipment Lease the terms of this Lease) and that there are no mechanics' or similar liens for labor or materials supplied in connection therewith, the balance, if any, of such proceeds shall be paid over or assigned to the Lessee or as it may direct.
Trust Equipment Lease. Rent shall continue, the Lessee shall pay to the Lessor Trustee in immediately available funds an amount equal to the Stipulated Loss Value of such Item of Equipment as of such Loss Payment Date together with any Rent due and payable on or prior to the Loss Payment Date with respect to such Item of Equipment. If a Loss Payment Date shall fall on a day other than a Business Day, then the amount otherwise due hereunder on such day shall be remitted on or before the Business Day next preceding the Loss Payment Date.
Trust Equipment Lease. Xxxxxx's obligations hereunder as and when due. At such time as there shall not be continuing any such Default or Event of Default such amount, to the extent not theretofore so applied to the Lessee's obligations hereunder, shall be paid over to the Lessee.
Trust Equipment Lease. (h) any Operative Agreement or any Lien granted under any Operative Agreement shall, in whole or in part, terminate, cease to be effective against, or (other than as expressly provided therein) cease to be the respective legal, valid, binding and enforceable obligation of either the Lessee or any Guarantor, as the case may be; or
Trust Equipment Lease. (h) The Lessor Trustee may retain and apply against the Lease Balance all sums which the Lessor Trustee would, absent such Event of Default, be required to pay to, or turn over to, the Lessee pursuant to the terms of this Lease; or
