Equipment Lessors definition
Examples of Equipment Lessors in a sentence
This can result in additional banking charges and many Equipment Lessors will require that the Lessee honor the obligation of paying such charges.
If Lessee should have the Equipment installed by a third party maintenance or engineering company, Lessee assumes any and all liability for defects in the Equipment which are remediable by manufacturer under a manufacturer's maintenance contract but which are not so remedied because Lessee has elected to use a third party to install the Equipment, Lessor's approval of such third party notwithstanding (see 5.
The Collateral shall not become the property of Lessor or a part of the realty no matter how affixed to the Premises and may be removed by Lessee or any Equipment Lessors at any time and from time to time during the entire term of this Lease.
Lessee shall promptly repair any damage caused by the removal of such property, whether effected by Lessee or Equipment Lessors.
If the purchaser or tenant satisfies the Equipment Lessor's credit standards for lessees, Equipment Lessor shall release Landlord from its obligations under the Equipment Lease after such assignment.
If either party shall fail to appoint an appraiser at least 11 days prior to the Renewal Rent Determination Date, or if such two appraisers cannot agree on the amount of the Fair Market Rental and fail to appoint a third appraiser at least eight days prior to the Renewal Rent Determination Date, then Lessor and Lessee shall jointly request the American Association of Equipment Lessors (or any successor organization) to appoint the relevant appraiser.
Purchaser shall acquire the Assets from the equipment lessors either by entering into new lease agreements with Equipment Lessors and/or through the purchase of the Equipment from the Equipment Lessors at Purchaser's option.
Upon termination of a Lease Agreement with respect to any Property and Equipment, Lessor's security and other interest in such Property and Equipment shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor's security and other interest in such Property and Equipment.
Except with respect to the acquisition of certain tractors and trailers (the "Rolling Stock") to be acquired from certain of Seller's equipment lessors (the "Equipment Lessors") as discussed in greater detail in Section 1.5 below, Purchaser shall not assume or be responsible for any other Liability of Seller or Peterson, whether accrued be▇▇▇▇ ▇▇ after the Closing Date.
Promptly prepay the Equipment ----------------------------- Lease by an amount equal to the Equipment Lessors' Percentage of the portion (if any) of any Cash Equity Contribution under the Keep-Well Agreement attributable to the amount subtracted from the numerator of the Leverage Ratio pursuant to the calculation set forth in Section 2(a) of the Keep-Well Agreement.