Common use of Insufficiency of Net Proceeds Clause in Contracts

Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification, or replacement referred to in Section 7.01 by reason of the Lessee’s failure to comply with Section 6.02 hereof, the Lessee shall complete the work and pay any cost in excess of the amount of Net Proceeds without any right to reimbursement therefor from the Lessor.

Appears in 2 contracts

Samples: Lease and Purchase Option Agreement, Lease and Purchase Option Agreement

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Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification, modification or replacement referred to in Section 7.01 by reason of the Lessee’s failure to comply with Section 6.02 hereof, the Lessee shall complete the work and pay any cost in excess of the amount of Net Proceeds without any right to reimbursement therefor from the Lessor.

Appears in 1 contract

Samples: Lease and Purchase Option Agreement

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Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any replacement, repair, restoration, modification, restoration or replacement the Purchase Price referred to in Section 7.01 by reason of the Lessee’s failure to comply with Section 6.02 8.4 hereof, the Lessee shall complete the work and pay any cost in excess of the amount of Net Proceeds without any right to reimbursement therefor from the Lessor.shall, as applicable, either

Appears in 1 contract

Samples: Master Equipment Lease/Purchase Agreement

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