Application of Funds; Purchase and Lease of Equipment. On the Delivery Date, upon (a) receipt by Agent of all amounts to be paid by Lessor pursuant to Section 2.1(a), and (b) satisfaction or waiver consented to by Agent, Lessor and each Assignee of each of the conditions set forth in Article III, (i) Agent, on behalf of Lessor, shall pay, from the funds made available by Lessor pursuant to Section 2.1(a), an amount equal to the Purchase Price of the Items of Equipment in immediately available funds remitted by wire transfer to the account(s) specified by Lessee and (ii) Lessor shall lease to Lessee the Items of Equipment and Lessee shall accept delivery of and lease from Lessor the Items of Equipment pursuant to this Lease.
Appears in 2 contracts
Samples: Lease and Security Agreement (Lsi Logic Corp), Lease and Security Agreement (Lsi Logic Corp)
Application of Funds; Purchase and Lease of Equipment. On the Delivery Date, upon (a) receipt by Agent of all amounts to be paid by Lessor pursuant to Section 2.1(a), and (b) satisfaction or waiver consented to by Agent, Lessor and each Assignee of each of the conditions set forth in Article III, (i) Agent, on behalf of Lessor, shall pay, from the funds made available by Lessor pursuant to Section 2.1(a), an amount equal to the Purchase Price of the Items of Equipment in immediately available funds remitted by wire transfer to the account(s) specified by Lessee and (ii) Lessor shall lease to Lessee the Items of Equipment and Lessee shall accept delivery of and lease from Lessor the Items of Equipment pursuant to this Lease.
Appears in 2 contracts
Samples: Lease and Security Agreement (Lsi Logic Corp), Lease and Security Agreement (Lsi Logic Corp)
