RETURN OF EQUIPMENT. Upon the expiration or earlier termination or cancellation of this Lease with respect to any Item, except in the case of retention by Lessee upon purchase of the Equipment in accordance with any applicable Rider now or hereafter executed by the parties, Lessee shall, at its own cost and expense, promptly return such Item to Lessor to such location as Lessor may specify, for acceptance by Lessor in the condition required to be maintained hereunder or in the condition specified in any applicable Rider now or hereafter executed by the parties. Lessee shall pay for any repairs required to place the Equipment in such condition. In the event Lessee shall not surrender up and redeliver any Item to Lessor as herein required or shall not timely pay the purchase price for any Item under any applicable Rider now or hereafter executed by the parties, then Lessee shall pay to Lessor Basic Rent for such Item (at the highest rate payable during the Term) until the Item is duly returned, restored to the proper condition and accepted by Lessor or the purchase price is paid in accordance with the applicable Rider.
RETURN OF EQUIPMENT. If Lessee does not exercise, or is precluded from exercising, the option to purchase the Equipment at the expiration of the Renewal Term of this Lease, Lessee shall, at Lessee's sole cost and expense, return all, but not less than all, of the Equipment to Lessor immediately upon the expiration of the Renewal Term of this Lease pursuant to the terms and conditions contained in Lessor's Standard Return Conditions for equipment similar to the Equipment subject to this Lease (a copy of which has been delivered to Lessee in conjunction with this Lease). If Lessee does not surrender the Equipment to Lessor as herein provided, Lessee will be in default of this Lease as to such Equipment, and Lessee shall pay Lessor, as additional liquidated damages and not as penalty, an amount equal to one hundred ten percent (110%) of the Monthly Rental Payment applicable to such Equipment. Such payment shall commence with the month immediately following the end of the Renewal Term and shall continue thereafter monthly until the Equipment is returned to Lessor. Lessee agrees that such liquidated damages are a reasonable estimate and fair compensation for the costs, expenses, residual value exposure and other losses, which are incapable of an exact determination, incurred by Lessor as a result of Lessees retaining possession of the Equipment beyond the end of the Renewal Term. Notwithstanding the foregoing, Lessor shall have the right to obtain immediate possession of the Equipment at any time after the end of the Renewal Term for such Equipment.
RETURN OF EQUIPMENT. Upon the expiration or earlier termination or cancellation of this Lease with respect to any item, except in the case of retention by Lessee upon purchase of the Equipment in accordance with any applicable Rider now or hereafter executed by the parties, Lessee shall, at its own cost and expense, promptly return such item to Lessor to such location as Lessor may specify, for acceptance by Lessor in the condition required to be maintained hereunder or in the condition specified in any applicable Rider now or hereafter executed by the parties. Lessee shall pay for any repairs required to place the Equipment in such condition. In the event Lessee shall not surrender up and redeliver any item to Lessor as herein required or shall not timely pay the purchase price for any item under any applicable Rider now or hereafter executed by the parties, then the Term with respect to all of the items of Equipment covered by the Schedule covering the item in question shall continue (and, without limiting Lessee's other obligations, Lessee shall pay to Lessor Basic Rent for all such items of Equipment at the highest rate payable during the Term) until the item is duly returned, restored to the proper condition and accepted by Lessor or the purchase price is paid in accordance with the applicable Rider.
Examples of RETURN OF EQUIPMENT in a sentence
Any individual that is signed up to speak during said section who does not get the opportunity to do so because of the aforementioned time limit, shall be given speaking priority at the next Board Meeting.
Lessor and Lessee agree that if Lessee makes any non-severable improvement to the Equipment which increases the value of the Equipment and is not required or permitted by the MAINTENANCE Section or the RETURN OF EQUIPMENT Section of the Lease prior to lease expiration, then at the time of such option being exercised, Lessor and Lessee shall adjust the purchase price to reflect any addition to the price anticipated to result from such improvement.
Lessee shall bear all costs associated with such appraiser's determination and such costs, if any, to cause the Equipment to be in full compliance with the RETURN OF EQUIPMENT Section of the Lease on or prior to such Basic Term Expiration Date.
ALL COSTS ASSOCIATED WITH THE RETURN OF EQUIPMENT TO SHIFT4 SHALL BE BORNE BY THE MERCHANT.
Lessee shall bear all costs associated with such appraiser's determination and such costs, if any, to cause the Equipment to be in full compliance with the RETURN OF EQUIPMENT Section of the Lease on or prior to such Cancellation Date.
More Definitions of RETURN OF EQUIPMENT
RETURN OF EQUIPMENT. Upon the expiration or earlier termination or cancellation of this Lease with respect to any Items, except in the case of retention by Lessee upon purchase of the Equipment, Lessee shall, at its own cost and expense, promptly return such Items to Lessor to such locations as Lessor may specify, for acceptance by Lessor in the condition required to be maintained hereunder or in the condition specified in any Return Rider now or hereafter executed by the parties. Lessee will pay for any repairs required to place the Equipment in such condition. In the event Lessee shall not surrender up and redeliver any Item to Lessor as herein required or shall not pay promptly upon the expiration or earlier termination of this Lease the purchase price for any Item under any applicable Purchase Option Rider now or hereafter executed by the parties, then Lessee shall pay to Lessor Basic Rent for such Item (at the highest rate payable during the Term) until the Item is duly returned, restored to the proper condition and accepted by Lessor or the purchase price is paid.
RETURN OF EQUIPMENT means their return to the owner by collection by the owner or drop off by the hirer.
RETURN OF EQUIPMENT. When this Rental lawfully terminates or if you are in default under this Rental, you will, at your own expense, promptly package, insure and transport the Equipment to us or to a location designated by us in the same condition it was at the commencement of this Rental, except for reasonable wear and tear. If you have the option to purchase the Equipment and as long as you are not in default of any provision of this Rental, you may purchase all of the Equipment for the amount indicated on the front side of this Rental provided you give us written notice of your intention to purchase the Equipment at least thirty (30) days prior to the expiration of the Rental term. If you choose to return the Equipment, we shall invoice you and you shall pay us a $500.00 cleaning fee. We may waive the fee if you provide us certified proof that the Equipment is sterilized, clean, and safe for handling, as defined under the Guidelines for Reusable Medical Equipment, Association for the Advancement of Medical Instrumentation, TIR #12, 1994.
RETURN OF EQUIPMENT. Unless otherwise provided in the Schedule, upon cancellation of the Lease or of any Schedule upon default or by expiration of the term thereof or upon termination for any other cause, Lessee will, at its sole cost and expense, promptly return the Equipment to Lessor at any address specified by Lessor within 500 miles of last location in the same condition as received, reasonable wear and tear and normal depreciation from proper use and maintenance alone excepted, capable of performing its originally intended use at its originally rated capacity. Lessee will be responsible for all costs and expenses for packing, shipping and insuring the Equipment until delivered to the location designated by Lessor. Lessee will also provide storage to Lessor, if requested, for up to ninety (90) days after the termination of the Lease. Lessor will pay reasonable costs for storage at Lessee's incremental costs, including cost of insurance, maintenance, and other similar items. At least ninety (90) days prior to the last day of the term, Lessee shall deliver to Lessor the report of an independent expert advising Lessor on the condition of the Equipment and its compliance with the terms hereof. In addition to Lessor's other rights and remedies hereunder, if the Equipment is not returned on the last day of the term, due to Lessee's failure to act, or repairs are necessary to place the Equipment in the condition required hereby, Lessee shall continue to pay for the period of delay and acceptance of such rents by Lessor will not constitute a renewal of the Lease or a waiver of Lessor's right to a prompt return.
RETURN OF EQUIPMENT is changed as follows: In the seventh line after "service," insert "Existence of a maintenance agreement with IBM covering the Equipment at the date of de-installation shall be sufficient to establish that the Equipment qualifies for IBM's maintenance agreement service without further obligation of Lessee." Add the following to the end of the Paragraph:
RETURN OF EQUIPMENT is changed as follows: