|
•
<br />Section 9.02. Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost
<br />of any repair, restoration, modification or improvement referred to in Section 9.01 hereof, Lessee shall
<br />either (a) Complete the work and pay any cost in excess of the amount of Net Proceeds, and Lessee agrees
<br />that if by reason of any such insufficiency of the Net Proceeds, Lessee shall make any payments pursuant to
<br />the provisions of this Section 9.02, Lessee shall not be entitled to any reimbursement therefore from Lessor
<br />nor shall Lessee be entitled to any diminution of the amounts payable under Article VI hereof or (b) if
<br />Lessee is not in default hereunder, Lessee shall pay to Lessor the amount of the then applicable Purchase
<br />Price, and, upon such payment, the Lease Term shall terminate and Lessor's interest in the Equipment shall
<br />terminate as provided in Article Xl of this Agreement. The amount of the Net Proceeds in excess of the
<br />then applicable Purchase Price, if any, may be retained by Lessee.
<br />~ ARTICLE X
<br />DISCLAIMER OF WARRANTIES; VENDOR'S WARRANTIES; USE OF EQUIPMENT
<br />Section 10.01. Disclaimer of Warranties. LESSOR MAKES NO WARRANTY OR
<br />REPRESENTATION, EITHER EXPRESS OR IMPLIED. AS TO THE VALUE, DESIGN, CONDITION.
<br />MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF THE
<br />EQUIPMENT, OR WARRANTY WITH RESPECT THERETO. In no event shall Lessor be liable for any
<br />incidental, indirect, special or consequential damage in connectins with or arising out of this Agreement or
<br />the existence, furnishing, functioning or Lessee's use of any item or products or services provided for in this
<br />Agreement.
<br />Section 10.02. Vendor's 'Warranties. Lessor hereby irrevocably appoints Lessee its agent and
<br />attorney-in-fact during the Lease Term, so long as Lessee shall net be in default hereunder, to assert from
<br />time to time whatever claims and rights, including warranties of the Equipment, which Lessor may have
<br />against the Vendor of the Equipment. Lessee's sole remedy for the breach of such warranty.
<br />indemnification or representation shall be against the Vendor of the Equipment, and not against the Lessor,
<br />nor shall such matter have any effect whatsoever on the rights and obligations of Lessor with respect to this
<br />Agreement, including the right to receive full and timely payments hereunder. Lessee expressiy
<br />acknowledges that Lessor makes, and has made, no representation or warranties whatsoever as to the
<br />existence or availability of such warranties of the Vendor ofthe Equipment.
<br />Section 10.03. Use of the Equipment. Lessee will not install, use, operate or maintain the Equipment
<br />improperly, carelessly, in violation of any applicable law or in a manner contrary to that contemplated by
<br />this Agreement. Lessee shall provide all permits and licenses, if any, necessary for the installation and
<br />operation of the Equipment. In addition, Lessee agrees to comply to all respects (including, without
<br />limitation, with respect to the use, maintenance and operation of each item of the Equipment) with all laws
<br />of the jurisdictions in which its operations involving any item of Equipment may extend t,iid any legislative„
<br />executive, administrative or judicial body exercising any power or jurisdiction over the items of the
<br />Equipment: provided, however, that Lessee may contest in good faith the validity or application of any such
<br />law or rule in any reasonable manner which does not, in she opinion of the Lessor, adversely affect the
<br />estate of Lessor in and to any ofthe items of the Equipment or its interest or rights under this Agreement.
<br />ARTICLE XI
<br />OPTION TO PURCHASE
<br />Section 11.01. At the request of Lessee. Lessor's interest in the Equipment and additional Rental
<br />Payments will be terminated and this Agreement shall terminate:
<br />(a) At the end of the final Renewal Term, upon payment by Lessee of all Rental Payments scheduled
<br />as set forth in Exhibit E to this Agreement; or
<br />(b) if the Lease Term is terminated pursuant to Article LX of this Agreement, in the event of total
<br />damage, destruction or condemnation of the Equipment, or
<br />
|