Common use of Leasing of Equipment Clause in Contracts

Leasing of Equipment. Subject to the terms and conditions set forth below, Lessor agrees to lease to Lessee and Lessee agrees to hire from Lessor the equipment (the "Equipment"; a unit or part thereof being sometimes hereinafter referred to as an "item") described in any Master Lease Schedule hereto, now or hereafter executed by the parties (each, a "Schedule"). Nothing contained herein shall obligate either party to execute any Schedule subsequent to the date hereof. The Equipment shall be delivered and installed at the location specified or referred to in the applicable Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease as of the Acceptance Date (defined below) shown on the executed Delivery and Acceptance Certificate (an "Acceptance Certificate") with respect to such Equipment. Any modifications to this Lease contained in any Schedule shall be controlling, but only with respect to the Equipment described in such Schedule. Until and unless a Schedule is sold, assigned or otherwise transferred by Lessor, or Lessor and Lessee expressly agree otherwise in writing, this Lease, all Riders hereto or to any Schedule, now or hereafter executed by the parties (each, a "Rider"), and all Schedules shall constitute one lease, and references to this Lease shall include all such Riders and Schedules. In the event that a Schedule is sold, assigned or otherwise transferred by Lessor, such Schedule and all Riders thereto shall be deemed to be a separate lease, which shall include and incorporate each term and condition in this Lease and all Riders hereto. As used herein, "Equipment Cost" shall have the same meaning and value as set forth in each applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Star Scientific Inc)

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Leasing of Equipment. Subject to the terms and conditions set forth below, Lessor agrees to lease to Lessee and Lessee agrees to hire from Lessor the equipment (the "Equipment"; ;" a unit or part thereof being sometimes hereinafter referred to as an "itemItem") described in any Master Lease Schedule hereto, now or hereafter executed by the parties (each, a "Schedule"). Nothing contained herein shall obligate either party to execute any Schedule subsequent to the date hereof. The Equipment shall be delivered and installed at the location specified or referred to in the applicable Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease as of the Acceptance Date (defined below) shown on the executed Delivery and Acceptance Certificate (an "Acceptance Certificate") with respect to such Equipment. Any modifications to this Lease contained in any Schedule shall be controlling, but only with respect to the Equipment described in such Schedule. Until and unless a Schedule is sold, assigned or otherwise transferred by Lessor, or Lessor and Lessee expressly agree otherwise in writing, this Lease, all Riders hereto or to any Schedule, now or hereafter executed by the parties (each, a "Rider"), and all Schedules shall constitute one lease, and references reference to this Lease shall include all such Riders and Schedules. In the event that a Schedule is sold, assigned or otherwise transferred by Lessor, such Schedule and all Riders thereto shall be deemed to be a separate lease, which shall include and incorporate each term and condition in this Lease and all Riders hereto. As used herein, "Equipment Cost" shall have the same meaning and value as set forth in each applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Ibis Technology Corp)

Leasing of Equipment. Subject to the terms and conditions set forth below, Lessor agrees to lease to Lessee and Lessee agrees to hire from Lessor the equipment (the "Equipment"; ;" a unit or part thereof being sometimes hereinafter referred to as an "itemItem") described in any Master Lease Schedule hereto, now or hereafter executed by the parties (each, a "Schedule"). Nothing contained herein shall obligate either party to execute any Schedule subsequent to the date hereof. The Equipment shall be delivered and installed at the location specified or referred to in the applicable Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease as of the Acceptance Date (defined below) shown on the executed Delivery and Acceptance Certificate (an "Acceptance Certificate") with respect to such Equipment. Any modifications to this Lease contained in any Schedule shall be controlling, but only with respect to the Equipment described in such Schedule. [Until and unless a Schedule is sold, assigned or otherwise transferred by Lessor, or Lessor and Lessee expressly agree otherwise in writing, this Lease, all Riders hereto or to any Schedule, now or hereafter executed by the parties (each, a "Rider"), and all Schedules shall constitute one lease, and references to this Lease shall include all such Riders and Schedules. In the event that a Schedule is sold, assigned or otherwise transferred by Lessor, such Schedule and all Riders thereto shall be deemed to be a separate lease, which shall include and incorporate each term and condition in this Lease and all Riders hereto. .] As used herein, "Equipment Cost" shall have the same meaning and value as set forth in each applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Video Update Inc)

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Leasing of Equipment. Subject to the terms and conditions set forth below, Lessor agrees to lease to Lessee and Lessee agrees to hire from Lessor the equipment (the "Equipment"; ;" a unit or part thereof being sometimes hereinafter referred to as an "itemItem") described in any Master Lease Schedule hereto, now or hereafter executed by the parties (each, a "Schedule"). Nothing contained herein shall obligate either party to execute any Schedule subsequent to the date hereof. The Equipment shall be delivered and installed at the location specified or referred to in the applicable Schedule. The Equipment shall be deemed to have been accepted by Lessee for all purposes under this Lease as of the Acceptance Date (defined below) shown on the executed Delivery and Acceptance Certificate (an "Acceptance Certificate") with respect to such Equipment. Any modifications to this Lease contained in any Schedule shall be controlling, but only with respect to the Equipment described in such Schedule. Until and unless a Schedule is sold, assigned or otherwise transferred by Lessor, or Lessor and Lessee expressly agree otherwise in writing, this Lease, all Riders hereto or to any Schedule, now or hereafter executed by the parties (each, a "Rider"), and all Schedules shall constitute one lease, and references to this Lease shall include all such Riders and Schedules. In the event that a Schedule is sold, assigned or otherwise transferred by Lessor, such Schedule and all Riders thereto shall be deemed to be a separate lease, which shall include and incorporate each term and condition in this Lease and all Riders hereto. As used herein, "Equipment Cost" shall have the same meaning and value as set forth in each applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Act Manufacturing Inc)

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