Stored Equipment definition
Examples of Stored Equipment in a sentence
SignalShare Hospitality shall not borrow against, encumber, pledge, hypothecate or assign any rights or interests in or to any of the Remaining Purchased Equipment or any of the Remaining Stored Equipment without TIG’s express written consent unless and until the full Settlement Amount described in paragraph 2 of this Settlement Agreement plus interest is paid to TIG.
This Storage Agreement and the Policy constitute the only agreements between the parties regarding the Stored Equipment.
Once TIG is paid the full Settlement Amount and interest, any of the Remaining Purchased Equipment and/or Remaining Stored Equipment still in the possession of TIG will be released to and retrieved by SignalShare Hospitality within thirty (30) days.
Subject to the provisions of paragraph 4 of this Settlement Agreement, TIG shall release to SignalShare Infrastructure specific items of the Remaining Purchased Equipment listed on Exhibit “A” and Remaining Stored Equipment listed on Exhibit “B” upon receipt of a written request specifying the items of such equipment to be released, the date they are to be released, and the identity of any buyer for the equipment.
Once TIG is paid the full Settlement Amount and interest, any of the Remaining Purchased Equipment and/or Remaining Stored Equipment still in the possession of TIG will be released to and retrieved by SignalShare Infrastructure within thirty (30) days.
Prior to TIG’s release of any items of the Remaining Purchased Equipment or the Remaining Stored Equipment to SignalShare Infrastructure as provided in paragraph 3(d) (ii) of this Settlement Agreement, SignalShare Infrastructure shall assign to TIG the right to collect directly from the buyer of that equipment the receivable created by SignalShare Infrastructure’s sale of items of the Remaining Purchased Equipment and Remaining Stored Equipment (the “Receivables”).
Equipment Owner acknowledges that Society has no responsibility for the care, condition or repair of the Stored Equipment unless covered by an additional agreement approved by both parties.
Equipment Owner acknowledges that FRRS has no responsibility for the care, condition or repair of the Stored Equipment unless covered by an additional agreement approved by both parties.
As further outlined in the Policy, FRRS has full authority and right to relocate the Stored Equipment at its discretion as needed for FRRS operations.
Equipment Owner warrants that they own, lease, or otherwise have full legal authority over the the Stored Equipment, and that if the Stored Equipment is subject to any liens and encumbrances, Equipment Owner agrees to comply with the requirements regarding notification of such liens and encumbrances as further outlined in the Policy.