Warranties on Leased Parts. The Lessor, in its capacity as “Lessee,” under its arrangements with the Manufacturer, in its capacity as “Lessor,” has negotiated and obtained the following warranties from the Manufacturer with respect to the Leased Parts, subject to the terms, conditions, limitations and restrictions all as hereinafter set out. The Lessor hereby assigns to the Lessee, and the Lessee hereby accepts, all of the rights and obligations of the Lessor in its capacity as “Lessee” as aforesaid under the said warranties and the Lessor subrogates the Lessee as to all such rights and obligations in respect of Leased Parts during the Lease Term with respect thereto. The Lessor hereby warrants to the Lessee that it has all requisite authority to make the foregoing assignment and effect the foregoing subrogation to and in favor of the Lessee and that it will not enter into any amendment of the provisions so assigned or subrogated without the prior written consent of the Lessee. Capitalized terms utilized in the following provisions have the meanings assigned thereto in this Letter Agreement 1, except that the term “Lessor” refers to the Manufacturer and the term “Lessee” refers to the Lessor. QUOTE
Warranties on Leased Parts. 12.9.1 The Lessor warrants that each Leased Part will at the time of delivery thereof:
