Computer Leases Sample Clauses
The 'Computer Leases' clause defines the terms under which computers and related equipment are provided to a party for temporary use. It typically outlines the duration of the lease, responsibilities for maintenance and repairs, and conditions for returning the equipment at the end of the lease period. This clause ensures both parties understand their obligations regarding the use and care of leased computers, thereby minimizing disputes and clarifying liability for loss or damage.
Computer Leases. The Parties acknowledge that general computer equipment, including copy machines, servers, desktop personal computers, printers, laptops, and network and telephony equipment and environment (collectively, “Computer Equipment”) is leased under Honeywell’s hardware Refresh Program, through computer equipment leases with certain third-party providers (collectively, the “Computer Equipment Leases”). Lease payments, pursuant to the Computer Equipment Leases for Computer Equipment used or held for use primarily in the SpinCo Business as of the date hereof will be paid by Honeywell’s Global Technology Services Group and all such lease payments in addition to other related charges (including associated sales and property Taxes) shall be charged by Honeywell to TS Subsidiary on a pass-through basis. TS Subsidiary shall be responsible for all fees, including fees for obtaining consents of lessors, associated with lease assignment, lease buyout and early lease termination imposed by the Computer Equipment lessors. Within ninety (90) days following the date hereof, TS Subsidiary must elect to exercise one of the following options with respect to the Computer Equipment: (i) if acceptable to Computer Equipment lessor(s), enter into an assignment of any or all of the Computer Equipment Leases to TS Subsidiary or one or more of its Affiliates to be effected such that the SpinCo Business shall have use of the transferred Computer Equipment on substantially the same terms following the Computer Equipment Lease assignment as the SpinCo Business did prior to such assignment or (ii) negotiate and exercise a buy-out of any or all of the Computer Equipment Leases and the purchase of such Computer Equipment on terms agreed to by TS Subsidiary and the Computer Equipment lessors. Honeywell agrees to use commercially reasonable efforts to assist TS Subsidiary and the members of the SpinCo Group in exercising any of the options in the preceding sentence by facilitating discussions between the Computer Equipment lessors and TS Subsidiary. TS Subsidiary acknowledges that the hardware Refresh Program is limited to Honeywell’s business units under confidential terms, conditions and pricing and cannot be extended to TS Subsidiary for additional equipment following the Distribution. Actual disposition of equipment must be completed within one (1) year from the date hereof.
Computer Leases. The Seller or Company will pay, perform and satisfy when due all of the Seller’s and Company’s obligations under the computer leases listed on Schedule 5.14.
Computer Leases. AFI shall have entered into a certain indemnity agreement with Amy Greif on the computer ▇▇▇▇▇▇ ▇tilized by Corporation at Closing.
Computer Leases. ABB Credit shall continue its computer lease agreements with certain Company employees on the original terms and conditions of such lease agreements.
Computer Leases. JRI agrees to use commercially reasonable efforts to cause Ameritech Corp. or SBC Communications Inc. to consent to the assumption by CBL or its designee of the rights and obligations of The ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Group, Inc. pursuant to such of those leases of on-site computer equipment at each Property as are requested by CBL, provided, however, that CBL's obligation to accept the contribution of the Interests in any Property Owner (or the deed to any Property) will not be conditioned upon JRI's ability to obtain any of the foregoing consents.