Common use of Disposition of Equipment; Replacement of Unit Clause in Contracts

Disposition of Equipment; Replacement of Unit. (a) Upon the payment of all sums required to be paid pursuant to Section 11.2 in respect of any Unit or Units, Lessor will convey to Lessee or its designee all right, title and interest of Lessor in and to such Unit or Units, "as is", "where is", without recourse or warranty, except for a warranty as to the absence of Lessor's Liens, and shall execute and deliver to Lessee or its designee, at Lessee's cost and expense, such bills of sale and other documents and instruments as Lessee or its designee may reasonably request to evidence such conveyance. As to each separate Unit so disposed of, Lessor shall (subject to any insurer's right of subrogation, if any) be entitled to any amounts in excess of Stipulated Loss Amount arising from such disposition, plus any awards, insurance or other proceeds and damages received by Lessee, Lessor or the Indenture Trustee by reason of such Event of Loss.

Disposition of Equipment; Replacement of Unit. (a) Upon the payment of all sums required to be paid pursuant to Section 11.2 in respect of any Unit or Units, Lessor will convey to Lessee or its designee all right, title and interest of Lessor in and to such Unit or Units, "as is", "where is", without recourse or warranty, except for a warranty as to the absence of against Lessor's Liens, and shall execute and deliver to Lessee or its designee, at Lessee's cost and expense, designee such bills of sale and other documents and instruments as Lessee or its designee may reasonably request to evidence such conveyance. As to each separate Unit so disposed of, Lessor so long as no Lease Event of Default shall (subject to any insurer's right of subrogationhave occurred and be continuing, if any) Lessee or its designee shall be entitled to any amounts in excess of Stipulated Loss Amount arising from such disposition, plus any awards, insurance or other proceeds and damages received by Lessee, Lessor or the Indenture Trustee by reason of such Event of LossLoss after having paid the Stipulated Loss Value attributable thereto.