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EQUIPMENT LEASING MODULE EL 1 TERMS AND CONDITIONS SPECIFIC TO LEASED EQUIPMENT In addition to the terms set forth in the General (GEN) and Equipment (EQP) Modules, the following terms apply to Leased Equipment Orders. EL 1.1 Contract Number On all Order documents for Major Account Lease Orders, Customer will include the contract number that is provided on the attached Major Account Lease Pricing Exhibit. EL 1.2 Periodic Minimum Charge As set forth on the applicable Order, the Periodic Minimum Charge for the Leased Equipment, along with any additional print charges, covers Customer's cost for the use of the Leased Equipment and Maintenance Services, for the term specified in the applicable Order. EL 1.3 Term The initial Term for any standalone lease Order will be the number of full calendar months stated in such Order. The Lease Minimum Payment for any partial month following the Installation Date will be billed on a pro rata basis, based on a 30 day month. EL 1.4 Title, Risk of Loss, Insurance Title to the Leased Equipment shall remain with Xerox until Customer exercises its purchase option, if available. Customer will be responsible upon delivery for the risk of loss or damage of Leased Equipment when such loss or damage is due to fire, theft, or disappearance, or willful misconduct, or the negligence of its employees acting within the scope of their employment. EL 1.5 NON -CANCELABLE LEASE LEASED EQUIPMENT SUBJECT TO THIS MODULE CANNOT BE CANCELED OR TERMINATED EXCEPT AS EXPRESSLY PROVIDED ELSEWHERE IN THIS AGREEMENT, AND CUSTOMER'S OBLIGATION TO MAKE ALL PAYMENTS DUE OR TO BECOME DUE UNDER ANY ORDER FOR LEASED EQUIPMENT SHALL BE ABSOLUTE AND UNCONDITIONAL, AND SHALL NOT BE SUBJECT TO ANY DELAY, REDUCTION, SET-OFF, DEFENSE, COUNTERCLAIM, OR RECOUPMENT FOR ANY REASON WHATSOEVER, IRRESPECTIVE OF XEROX'S PERFORMANCE OF ITS OBLIGATIONS HEREUNDER. ANY CUSTOMER CLAIM AGAINST XEROX MAY BE ASSERTED SOLELY AGAINST XEROX IN A SEPARATE ACTION. EL 1.6 Early Termination If any unit of Leased Equipment subject to this EL Module is terminated for any reason, including, without limitation, default by Customer, Xerox, in addition to its other remedies (including the cessation of Maintenance Services), may require immediate payment, as liquidated damages for loss of bargain and not as a penalty, of. (i) all amounts then due, plus applicable interest on all amounts due from the due date until paid; (ii) the Lease Minimum Payment (less the Maintenance Services and Consumables components thereof, as reflected on Xerox's books and records) remaining in the initial term of the Order for the unit of Leased Equipment, discounted at the applicable rate; (iii) where applicable, any purchase option as set forth in the Order; and (iv) all applicable Transaction Taxes. In FL -University of So. Florida Master Agreement 31 11/24/2017 •N