Common use of Lease Transaction Clause in Contracts

Lease Transaction. It is expressly understood and agreed that all of the Equipment shall be and remain personal property notwithstanding the manner in which it may be attached or affixed to realty, and the Lessee shall do all acts and enter into all agreements necessary to ensure that the Equipment remains personal property. The Lessee hereby indemnifies the Lessor for all loss, cost, damage and expense (including fees and expenses of legal counsel) related to or arising out of any claim that the Equipment constitutes a fixture or a part of the realty in or upon which it is located. The Lessee acknowledges and represents to the Lessor and agrees that: (a) It has selected the Equipment based on its inspection and own judgment and expressly disclaims any reliance upon prior statements made by the Lessor; (b) The Equipment is of a size, design, capacity and manufacture selected by the Lessee; (c) The Lessor is not a manufacturer of equipment of this kind; (d) The Lessee leases the Equipment AS IS; (e) THE LESSOR HAS NOT MADE ANY EXPRESS OR IMPLIED WARRANTIES, AND DOES NOT HEREBY MAKE, ANY REPRESENTATION OR WARRANTY OR COVENANT WITH RESPECT TO THE FITNESS, MERCHANTABILITY, DESIGN, CONDITION, QUALITY, DURABILITY, CAPACITY, CONFORMITY OR SUITABILITY OF THE EQUIPMENT FOR THE PURPOSES AND USES OF THE LESSEE, OR ANY OTHER REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, OTHER THAN THOSE EXPRESSLY CONTAINED IN THIS AGREEMENT. The Lessor agrees, unless a Default has occurred hereunder and is continuing, that the Lessor will permit the Lessee to enforce in the Lessee’s own name and at the Lessee’s sole expense, any manufacturer’s warranty or agreement in respect to any Equipment (to the extent that such warranty or agreement is assignable); and (f) THE LESSOR SHALL NOT BE LIABLE FOR (I) ANY LOSS, DAMAGE, OR EXPENSE OF ANY KIND CAUSED DIRECTLY OR INDIRECTLY BY THE EQUIPMENT, ITS OPERATION, OR THE INSTALLATION, USE MAINTENANCE, HANDLING, OR STORAGE THEREOF, OR BECAUSE IT IS OR BECOMES UNSUITABLE OR UNSERVICEABLE, OR FOR ANY INTERRUPTION OF SERVICE OR LOSS OF USE THEREOF, OR (II) ANY LOSS OF BUSINESS OR PROFITS OF THE LESSEE OR (III) ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT).

Lease Transaction. It is expressly understood and agreed that all of the Equipment shall be and remain personal property notwithstanding the manner in which it may be attached or affixed to realty, and the Lessee shall do all acts and enter into all agreements necessary to ensure that the Equipment remains personal property. The Lessee hereby indemnifies the Lessor for all loss, cost, damage and expense (including fees and expenses of legal counsel) related to or arising out of any claim that the Equipment constitutes a fixture or a part of the realty in or upon which it is located. The Lessee acknowledges and represents to the Lessor and agrees that: (a) It has selected the Equipment based on its inspection and own judgment and expressly disclaims any reliance upon prior statements made by the Lessor; (b) The Equipment is of a size, design, capacity and manufacture selected by the Lessee; (c) The Lessor is not a manufacturer of equipment of this kind; (d) The Lessee leases the Equipment AS IS; (e) THE LESSOR HAS NOT MADE ANY EXPRESS OR IMPLIED WARRANTIES, AND DOES NOT HEREBY MAKE, ANY REPRESENTATION OR WARRANTY OR COVENANT WITH RESPECT TO THE FITNESS, MERCHANTABILITY, DESIGN, CONDITION, QUALITY, DURABILITY, CAPACITY, CONFORMITY OR SUITABILITY OF THE EQUIPMENT FOR THE PURPOSES AND USES OF THE LESSEE, OR ANY OTHER REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, OTHER THAN THOSE EXPRESSLY CONTAINED IN THIS AGREEMENT. The Lessor agrees, unless a Default has occurred hereunder and is continuing, that the Lessor will permit the Lessee to enforce in the Lessee’s own name and at the Lessee’s sole expense, any manufacturer’s warranty or agreement in respect to any Equipment (to the extent that such warranty or agreement is assignable); andand ▇▇▇ ▇ ▇▇▇▇ ▇▇., ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ P 724.983.1300 F 724.346.2452 E ▇▇▇▇▇@▇▇▇.▇▇▇▇▇▇ (f) THE LESSOR SHALL NOT BE LIABLE FOR (I) ANY LOSS, DAMAGE, OR EXPENSE OF ANY KIND CAUSED DIRECTLY OR INDIRECTLY BY THE EQUIPMENT, ITS OPERATION, OR THE INSTALLATION, USE MAINTENANCE, HANDLING, OR STORAGE THEREOF, OR BECAUSE IT IS OR BECOMES UNSUITABLE OR UNSERVICEABLE, OR FOR ANY INTERRUPTION OF SERVICE OR LOSS OF USE THEREOF, OR (II) ANY LOSS OF BUSINESS OR PROFITS OF THE LESSEE OR (III) ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT).

Lease Transaction. It is expressly understood and agreed that all of the Equipment shall be and remain personal property notwithstanding the manner in which it may be attached or affixed to realty, and the Lessee shall do all acts and enter into all agreements necessary to ensure that the Equipment remains personal property. The Lessee hereby indemnifies the Lessor for all loss, cost, damage and expense (including fees and expenses of legal counsel) related to or arising out of any claim that the Equipment constitutes a fixture or a part of the realty in or upon which it is located. The Lessee acknowledges and represents to the Lessor and agrees that: (a) It has selected the Equipment based on its inspection and own judgment and expressly disclaims any reliance upon prior statements made by the Lessor; (b) The Equipment is of a size, design, capacity and manufacture selected by the Lessee; (c) The Lessor is not a manufacturer of equipment of this kind; (d) The Lessee leases the Equipment AS IS; (e) THE LESSOR HAS NOT MADE ANY EXPRESS OR IMPLIED WARRANTIES, AND DOES NOT HEREBY MAKE, ANY REPRESENTATION OR WARRANTY OR COVENANT WITH RESPECT TO THE FITNESS, MERCHANTABILITY, DESIGN, CONDITION, QUALITY, DURABILITY, CAPACITY, CONFORMITY OR SUITABILITY OF THE EQUIPMENT FOR THE PURPOSES AND USES OF THE LESSEE, OR ANY OTHER REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, OTHER THAN THOSE EXPRESSLY CONTAINED IN THIS AGREEMENT. The Lessor agrees, unless a Default has occurred hereunder and is continuing, that the Lessor will permit the Lessee to enforce in the Lessee’s Lessee"s own name and at the Lessee’s Lessee"s sole expense, any manufacturer’s manufacturer"s warranty or agreement in respect to any Equipment (to the extent that such warranty or agreement is assignable); and (f) THE LESSOR SHALL NOT BE LIABLE FOR (I) ANY LOSS, DAMAGE, OR EXPENSE OF ANY KIND CAUSED DIRECTLY OR INDIRECTLY BY THE EQUIPMENT, ITS OPERATION, OR THE INSTALLATION, USE MAINTENANCE, HANDLING, OR STORAGE THEREOF, OR BECAUSE IT IS OR BECOMES UNSUITABLE OR UNSERVICEABLE, OR FOR ANY INTERRUPTION OF ▇▇ ▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇▇▇, PA 16146 P 724.983.1300 F 724.346.2452 E ▇▇▇▇▇@▇▇▇.▇▇▇▇▇▇ SERVICE OR LOSS OF USE THEREOF, OR (II) ANY LOSS OF BUSINESS OR PROFITS OF THE LESSEE OR (III) ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT).