Common use of Nonappropriation Clause in Contracts

Nonappropriation. If during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.

Appears in 4 contracts

Sources: Master Tax Exempt Lease/Purchase Agreement, Master Tax Exempt Lease/Purchase Agreement, Master Tax Exempt Lease/Purchase Agreement

Nonappropriation. If during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ Lessee fails to deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ Lessor as a result of ▇▇▇▇▇▇Lessee's failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇Lessee's obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.

Appears in 3 contracts

Sources: Master Tax Exempt Lease/Purchase Agreement, Purchase and Service Agreement, Master Tax Exempt Lease/Purchase Agreement

Nonappropriation. If during the then current Original Term or Renewal Termfiscal year of Lessee, sufficient funds are not appropriated to make Lease Rental Payments required under a Property Schedule Lease for the following fiscal year (an “Event of Nonappropriation”), Lessee shall be deemed not to have renewed such Lease for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule Lease shall terminate at the end of the then current Original Term or Renewal Term fiscal year, and Lessee shall not be obligated to make Lease Rental Payments under said Property Schedule the Lease beyond the then current fiscal year for which funds have been appropriated. Upon an Event of Nonappropriation, Lessee shall return the occurrence Equipment subject to the Lease to Lessor in accordance with the requirements of such nonappropriation (a "Nonappropriation Event") Section 11.3. Lessee shall, shall notify Lessor in writing no later than 30 days following an Event of Nonappropriation, but failure to provide such notice shall not operate to extend the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to LessorTerm. If ▇▇▇▇▇▇ fails to deliver possession of return the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Eventapplicable Equipment or otherwise comply with Section 11.3, the termination shall nevertheless be effective effective, but Lessee shall be responsible for the payment of damages in an amount equal to the portion amount of the Rental Payments that would thereafter have come due if the Lease Payments thereafter coming due that is had not been terminated and which are attributable to the number of days after the termination during which the Lessee fails to deliver possession comply with ▇▇▇▇▇▇’s instructions and for any other loss suffered by ▇▇▇▇▇▇ Lessor as a result of ▇▇▇▇▇▇'s ’s failure to deliver possession take such actions as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleLease, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.

Appears in 2 contracts

Sources: Lease Purchase Agreement, Master Lease Purchase Agreement

Nonappropriation. If during In the then current Original Term event the governing body of the Lessee shall not budget, appropriate or Renewal Term, allocate sufficient funds are not appropriated to make for the Lease Payments or reasonably estimated Additional Rentals required to be paid in the next occurring Renewal Term under a Property Schedule C of this Lease, and if the Lessee has no funds available for Lease Payments or reasonably estimated Additional Rentals from other sources, the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall may terminate this Lease at the end of the then current Original Term or Renewal Term upon providing sixty (60) days' prior written notice to the Lessor and the Trustee, and the Lessee shall not be obligated to make payment of the Lease Payments under said Property Schedule or Additional Rentals provided for in this Lease beyond the then current fiscal year for which funds have been appropriatedOriginal Term or Renewal Term. Upon The Trustee, upon the occurrence of such an event of nonappropriation, shall be entitled to all monies then on hand and being held in all funds created under the Indenture, including the Project Fund, for the benefit of the Bondholders. After the expiration of the Original Term or Renewal Term, during which an event of nonappropriation (occurs, the Trustee may, and if requested by the owners of a "Nonappropriation Event") Lessee majority in aggregate principal amount of Bondholders then Outstanding shall, no later than proceed to lease the end Facilities, as provided in Article VI of this Lease, or take one or any combination of the fiscal year for which Lease Payments have been appropriatedsteps described in Article VI of this Lease. All property, deliver possession of funds and rights acquired by the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Trustee by reason of a Nonappropriation Eventany event of nonappropriation as provided herein, less any monies due and owing to the termination shall nevertheless be effective but Lessee Trustee, shall be responsible held by the Trustee for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds benefit of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under Bondholders as set forth in the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeIndenture.

Appears in 2 contracts

Sources: Facilities Lease Agreement, Facilities Lease Agreement

Nonappropriation. If If, during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule Supplement for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule Supplement for the following fiscal year and the Property Schedule Supplement shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule Supplement beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule Supplement to Lessor. If ▇▇▇▇▇▇ Lessee fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Supplement by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ Lessor as a result of ▇▇▇▇▇▇Lessee's failure to deliver possession as required. In additionthe event of a Nonappropriation Event under a Supplement, Lessee shall cease use of all software financed or acquired under the applicable Supplement and shall confirm and state in writing to Lessor that it has: (1) deleted or disabled all files and copies of the software from the equipment on which it was installed; (2) returned all software documentation, training manuals, and physical media on which the software was delivered; and (3) has no ability to use the returned software. Lessee shall also cease receipt and/or acceptance of any Property consisting of services which shall not have been performed by the service provider prior to the date of such Nonappropriation Event. Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleSupplement, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇Lessee's obligations under the Property Schedule Supplement and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee. In the event of such nonappropriation, upon request from Lessor, Lessee agrees to provide in a timely manner, written evidence of such nonappropriation, a copy of the fiscal year budget in which such nonappropriation occurred and any other related documentation reasonably requested by Lessor.

Appears in 1 contract

Sources: Participating Addendum

Nonappropriation. If during In the then current Original Term event the governing body of the Lessee shall not budget, appropriate or Renewal Term, allocate sufficient funds are not appropriated to make for the Lease Payments or reasonably estimated Additional Rentals required to be paid in the next occurring Renewal Term under a Property Schedule C of this Lease, and if the Lessee has no funds available for Lease Payments or reasonably estimated Additional Rentals from other sources, the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall may terminate this Lease at the end of the then current Original Initial Term or Renewal Term upon providing sixty (60) days' prior written notice to the Lessor and the Trustee, and the Lessee shall not be obligated to make payment of the Lease Payments under said Property Schedule or Additional Rentals provided for in this Lease beyond the then current fiscal year for which funds have been appropriatedInitial Term or Renewal Term. Upon The Trustee, upon the occurrence of such an event of nonappropriation, shall be entitled to all monies then on hand and being held in all funds created under the Indenture for the benefit of the Bondholders. After the expiration of the Initial Term or Renewal Term, during which an event of nonappropriation (occurs, the Trustee may, and if requested by the owners of a "Nonappropriation Event") Lessee majority in aggregate principal amount of Bondholders then Outstanding shall, no later than proceed to lease the end Facilities, as provided in Article VI of this Lease, or take one or any combination of the fiscal year for which Lease Payments have been appropriatedsteps described in Article VI of this Lease. All property, deliver possession of funds and rights acquired by the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Trustee by reason of a Nonappropriation Eventany event of nonappropriation as provided herein, less any monies due and owing to the termination shall nevertheless be effective but Lessee Trustee, shall be responsible held by the Trustee for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds benefit of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under Bondholders as set forth in the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeIndenture.

Appears in 1 contract

Sources: Facilities Lease Agreement

Nonappropriation. If during In the then current Original Term event the governing body of the Lessee shall not budget, appropriate or Renewal Term, allocate sufficient funds are not appropriated to make for the Lease Payments or reasonably estimated Additional Rentals required to be paid in the next occurring Renewal Term under a Property Schedule E of this Lease, and if the Lessee has no funds available for Lease Payments or reasonably estimated Additional Rentals from other sources, the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall may terminate this Lease at the end of the then current Original Initial Term or Renewal Term upon providing sixty (60) days' prior written notice to the Lessor and the Trustee, and the Lessee shall not be obligated to make payment of the Lease Payments under said Property Schedule or Additional Rentals provided for in this Lease beyond the then current fiscal year for which funds have been appropriatedInitial Term or Renewal Term. Upon The Trustee, upon the occurrence of such an event of nonappropriation, shall be entitled to all monies then on hand and being held in all funds created under the Indenture for the benefit of the Bondholders. After the expiration of the Initial Term or Renewal Term, during which an event of nonappropriation (occurs, the Trustee may, and if requested by the owners of a "Nonappropriation Event") Lessee majority in aggregate principal amount of Bondholders then Outstanding shall, no later than proceed to lease the end Facilities, as provided in Article VI of this Lease, or take one or any combination of the fiscal year for which Lease Payments have been appropriatedsteps described in Article VI of this Lease. All property, deliver possession of funds and rights acquired by the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Trustee by reason of a Nonappropriation Eventany event of nonappropriation as provided herein, less any monies due and owing to the termination shall nevertheless be effective but Lessee Trustee, shall be responsible held by the Trustee for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds benefit of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under Bondholders as set forth in the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeIndenture.

Appears in 1 contract

Sources: Facilities Lease Agreement

Nonappropriation. If during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation Nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ Lessee fails to deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.

Appears in 1 contract

Sources: Master Tax Exempt Lease/Purchase Agreement

Nonappropriation. If If, during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule Supplement for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule Supplement for the following fiscal year and the Property Schedule Supplement shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule Supplement beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule Supplement to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Supplement by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ Lessor as a result of ▇▇▇▇▇▇Lessee's failure to deliver possession as required. In additionthe event of a Nonappropriation Event under a Supplement, Lessee shall cease use of all software financed or acquired under the applicable Supplement and shall confirm and state in writing to Lessor that it has: (1) deleted or disabled all files and copies of the software from the equipment on which it was installed; (2) returned all software documentation, training manuals, and physical media on which the software was delivered; and (3) has no ability to use the returned software. Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleSupplement, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule Supplement and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee. In the event of such nonappropriation, upon request from ▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to provide in a timely manner, written evidence of such nonappropriation, a copy of the fiscal year budget in which such nonappropriation occurred and any other related documentation reasonably requested by ▇▇▇▇▇▇.

Appears in 1 contract

Sources: Lease/Purchase Master Agreement

Nonappropriation. If during In the then current Original Term event the governing body of the Lessee shall not budget, appropriate or Renewal Term, allocate sufficient funds are not appropriated to make for the Lease Payments or reasonably estimated Additional Rentals required to be paid in the next occurring Renewal Term under a Property Schedule C of this Lease, and if the Lessee has no funds available for Lease Payments or reasonably estimated Additional Rentals from other sources, the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall may terminate this Lease at the end of the then current Original Term or Renewal Term upon providing sixty (60) days' prior written notice to the Lessor and the Trustee, and the Lessee shall not be obligated to make payment of the Lease Payments under said Property Schedule or Additional Rentals provided for in this Lease beyond the then current fiscal year for which funds have been appropriatedOriginal Term or Renewal Term. Upon The Trustee, upon the occurrence of such an event of nonappropriation, shall be entitled to all monies then on hand and being held in all funds created under the Indenture for the benefit of the Bondholders. After the expiration of the Original Term or Renewal Term, during which an event of nonappropriation (occurs, the Trustee may, and if requested by the owners of a "Nonappropriation Event") Lessee majority in aggregate principal amount of Bondholders then Outstanding shall, no later than proceed to lease the end Property, as provided in Article VI of this Lease, or take one or any combination of the fiscal year for which Lease Payments have been appropriatedsteps described in Article VI of this Lease. All property, deliver possession of funds and rights acquired by the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule Trustee by reason of a Nonappropriation Eventany event of nonappropriation as provided herein, less any monies due and owing to the termination shall nevertheless be effective but Lessee Trustee, shall be responsible held by the Trustee for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds benefit of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under Bondholders as set forth in the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeIndenture.

Appears in 1 contract

Sources: Sublease Agreement

Nonappropriation. If during Notwithstanding anything contained in this Master Lease Agreement to the then current Original Term or Renewal Termcontrary, in the event that sufficient funds are not appropriated to make Lease Payments required under a Property Schedule and budgeted by ▇▇▇▇▇▇’s governing body or are not otherwise available from other legally available sources in any fiscal period for the following payment of Rent and other amounts due under any Lease, the Lease shall terminate on the last day of the fiscal yearperiod for which appropriations were received or other amounts are available to pay amounts due under the Lease without penalty or expense to Lessee of any kind whatsoever, except as to the portions of Rent payments or other amounts herein agreed upon for which funds shall have been appropriated or are otherwise available. Lessee will immediately notify the Lessor or its assignee of such occurrence. In the event of such termination, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end immediately cease all use of the then current Original Term or Renewal Term Equipment, and shall immediately de-install, disassemble, pack, crate, and return the Equipment subject to such Lease to Lessor (all in accordance with Section 10 of this Master Lease Agreement). Such Equipment shall be in the same condition as when received by Lessee (reasonable wear, tear and depreciation resulting from normal and proper use excepted), shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriatedin good operating order and maintenance as required by this Lease, shall be free and clear of any liens (except Lessor’s lien) and shall comply with all applicable laws and regulations. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails agrees to execute and deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered all documents reasonably requested by ▇▇▇▇▇▇ as a result or evidence the transfer of legal and beneficial title to such Equipment to Lessor and to evidence the termination of ▇▇▇▇▇▇'s failure ’s interest in such Equipment. Lessor will have all legal and equitable rights and remedies to deliver take possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleEquipment. At Lessor’s request, instruct Lessee shall promptly provide supplemental documentation as to such escrow agent to release all such proceeds and any earnings thereon Non-Appropriation satisfactory to Lessor. Lessee’s exercise of its rights pursuant to this Section 7 shall not affect the survival of any other provisions, such sums including but not limited to be credited Section 16, (other than the obligation to ▇▇▇▇▇▇'s obligations lease the Equipment and pay amounts due under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7Lease) days after which survive the failure termination of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeLease.

Appears in 1 contract

Sources: Master Agreement

Nonappropriation. If during Notwithstanding anything contained in this Master Lease Agreement to the then current Original Term or Renewal Termcontrary, in the event that sufficient funds are not appropriated to make Lease Payments required under a Property Schedule and budgeted by ▇▇▇▇▇▇’s governing body or are not otherwise available from other legally available sources in any fiscal period for the following payment of Rent and other amounts due under any Lease, the Lease shall terminate on the last day of the fiscal yearperiod for which appropriations were received or other amounts are available to pay amounts due under the Lease without penalty or expense to Lessee of any kind whatsoever, except as to the portions of Rent payments or other amounts herein agreed upon for which funds shall have been appropriated or are otherwise available. Lessee will immediately notify the Lessor or its assignee of such occurrence. In the event of such termination, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end immediately cease all use of the then current Original Term or Renewal Term Equipment, and shall immediately de-install, disassemble, pack, crate, and return the Equipment subject to such Lease to Lessor (all in accordance with Section 10 of this Master Lease Agreement). Such Equipment shall be in the same condition as when received by Lessee (reasonable wear, tear and depreciation resulting from normal and proper use excepted), shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriatedin good operating order and maintenance as required by this Lease, shall be free and clear of any liens (except Lessor’s lien) and shall comply with all applicable laws and regulations. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails agrees to execute and deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered all documents reasonably requested by ▇▇▇▇▇▇ as a result or evidence the transfer of legal and beneficial title to such Equipment to Lessor and to evidence the termination of ▇▇▇▇▇▇'s failure ’s interest in such Equipment. Lessor will have all legal and equitable rights and remedies to deliver take possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleEquipment. At Lessor’s request, instruct Lessee shall promptly provide supplemental documentation as to such escrow agent to release all such proceeds and any earnings thereon Non-Appropriation satisfactory to Lessor, such sums . Lessee’s exercise of its rights pursuant to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice Section 7 shall not operate to extend affect the Lease Term or result in survival of any liability to Lessee.other provisions, including but not

Appears in 1 contract

Sources: Master Agreement

Nonappropriation. If during Notwithstanding anything contained in this Master Agreement to the then current Original Term or Renewal Termcontrary, in the event that sufficient funds are not appropriated to make Lease Payments required under a Property Schedule and budgeted by ▇▇▇▇▇▇’s governing body or are not otherwise available from other legally available sources in any fiscal period for the following payment of Rent and other amounts due under any Lease, the Lease shall terminate on the last day of the fiscal yearperiod for which appropriations were received or other amounts are available to pay amounts due under the Lease without penalty or expense to Lessee of any kind whatsoever, except as to the portions of Rent payments or other amounts herein agreed upon for which funds shall have been appropriated or are otherwise available. Lessee will immediately notify the Lessor or its assignee of such occurrence. In the event of such termination, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end immediately cease all use of the then current Original Term or Renewal Term Equipment, and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than at its sole expense and risk, immediately de-install, disassemble, pack, crate, insure, and return the end Equipment subject to such Lease to Lessor (all in accordance with Section 10 of this Master Agreement). Such Equipment shall be in the fiscal year for which Lease Payments have been appropriatedsame condition as when received by Lessee (reasonable wear, deliver possession tear and depreciation resulting from normal and proper use excepted), shall be in good operating order and maintenance as required by this Lease, shall be free and clear of the Property under said Property Schedule to any liens (except Lessor’s lien) and shall comply with all applicable laws and regulations. If ▇▇▇▇▇▇ fails agrees to execute and deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered all documents reasonably requested by ▇▇▇▇▇▇ as a result or evidence the transfer of legal and beneficial title to such Equipment to Lessor and to evidence the termination of ▇▇▇▇▇▇'s failure ’s interest in such Equipment. Lessor will have all legal and equitable rights and remedies to deliver take possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleEquipment. At Lessor’s request, instruct Lessee shall promptly provide supplemental documentation as to such escrow agent to release all such proceeds and any earnings thereon Non-Appropriation satisfactory to Lessor, such sums . Lessee’s exercise of its rights pursuant to be credited this Section 7 shall not affect the survival of any indemnity and other provisions (other than the obligation to ▇▇▇▇▇▇'s obligations lease the Equipment and pay amounts due under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7Lease) days after which survive the failure termination of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeLease.

Appears in 1 contract

Sources: Lease/Purchase Financing Agreement

Nonappropriation. If during Notwithstanding anything contained in this Master Agreement to the then current Original Term or Renewal Termcontrary, in the event that sufficient funds are not appropriated to make Lease Payments required under a Property Schedule for the following and budgeted by Lessee’s governing body or are not otherwise available from other legally available sources in any fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible period for the payment of damages in an amount equal Rent and other amounts due under any Lease, the Lease shall terminate on the last day of the fiscal period for which appropriations were received or other amounts are available to pay amounts due under the Lease without penalty or expense to Lessee of any kind whatsoever, except as to the portion portions of Rent payments or other amounts herein agreed upon for which funds shall have been appropriated or are otherwise available. Lessee will immediately notify the Lessor or its assignee of such occurrence. In the event of such termination, Lessee shall immediately cease all use of the Equipment, and shall immediately de-install, disassemble, pack, crate, and return the Equipment subject to such Lease Payments thereafter coming due that is attributable to Lessor (all in accordance with Section 10 of this Master Agreement). Such Equipment shall be in the number same condition as when received by Lessee (reasonable wear, tear and depreciation resulting from normal and proper use excepted), shall be in good operating order and maintenance as required by this Lease, shall be free and clear of days after any liens (except Lessor’s lien) and shall comply with all applicable laws and regulations. Lessee agrees to execute and deliver to Lessor all documents reasonably requested by Lessor or evidence the transfer of legal and beneficial title to such Equipment to Lessor and to evidence the termination during which the Lessee fails of Lessee’s interest in such Equipment. Lessor will have all legal and equitable rights and remedies to deliver take possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property ScheduleEquipment. At Lessor’s request, instruct Lessee shall promptly provide supplemental documentation as to such escrow agent to release all such proceeds and any earnings thereon Non-Appropriation satisfactory to Lessor, such sums . Lessee’s exercise of its rights pursuant to be credited this Section 7 shall not affect the survival of any indemnity and other provisions (other than the obligation to ▇▇▇▇▇▇'s obligations lease the Equipment and pay amounts due under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7Lease) days after which survive the failure termination of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to LesseeLease.

Appears in 1 contract

Sources: Master Lease Purchase Agreement

Nonappropriation. If during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Payments required under a Property Schedule for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ Lessee fails to deliver possession of the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee. Any disposition of the Property Schedule following a Nonappropriation Event shall be done in a commercially reasonable manner, as otherwise provided by the Uniform Commercial Code, Article 9 in effect in the State, and any proceeds from the disposition of the Property Schedule in excess of the sum required to (i) pay off any outstanding principal component of Lease Payments, and (ii) pay any other amounts then due under the Property Schedule, shall be paid to Lessee.

Appears in 1 contract

Sources: Master Tax Exempt Lease/Purchase Agreement

Nonappropriation. If during the then current Original Term or Renewal Termfiscal year of Lessee, Lessee shall give notice of its intent not to appropriate sufficient funds are not appropriated to make Lease pay the Rental Payments required under a Property Schedule hereunder for the following fiscal year and such appropriation shall not have been made in the final official budget adopted by Lessee for such fiscal year (an “Event of Nonappropriation”), Lessee shall be deemed not to have renewed this Agreement for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule this Agreement shall terminate at the end of the then current Original Term or Renewal Term fiscal year, and Lessee shall not be obligated to make Lease pay Rental Payments under said Property Schedule beyond the then current fiscal year for which funds have been appropriated. Upon an Event of Nonappropriation, Lessee shall return the occurrence of such nonappropriation (a "Nonappropriation Event") Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to Lessor. If ▇▇▇▇▇▇ fails to deliver possession of the Property Equipment to Lessor upon termination in accordance with the requirements of said Property Schedule by reason of a Nonappropriation Event, the termination shall nevertheless be effective but Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇'s failure to deliver possession as required. In addition, Lessor may, by written instructions to any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this AgreementSection 10.03. Lessee shall notify Lessor in writing within seven (7) no later than 30 days after the failure following an Event of the Lessee to appropriate funds sufficient for the payment of the Lease PaymentsNonappropriation, but failure to provide such notice shall not operate to extend the Lease Term Term. If Lessee fails to return the Equipment or otherwise comply with Section 10.03, the termination shall nevertheless be effective, but Lessee shall be responsible for the payment of an amount equal to the Rental Payments that would thereafter have come due if this Agreement had not been terminated and which are attributable to the number of days after which Lessee fails to comply with Lessor’s instructions and for any other loss suffered by Lessor as a result in of Lessee’s failure to take such actions as required hereunder. In addition, upon an Event of Nonappropriation, Lessee shall pay to Lessor any liability to Lesseeundisbursed portion of the Funding Amount and any earnings thereon.

Appears in 1 contract

Sources: Lease Purchase Agreement

Nonappropriation. (a) The Lessee’s officer charged with preparing the Lessee’s draft budget as initially submitted to the governing body of the Lessee for consideration shall include in the initial proposal for each of the Lessee's annual budgets the amount of all Rental Payments and any estimated additional payments coming due under each Lease during the fiscal year to which such budget applies. Notwithstanding such inclusion in a proposed budget, the governing body of the Lessee may determine not to include such an appropriation in the Lessee's final budget for such fiscal year. (b) If during the then current Original Term or Renewal Term, sufficient funds are not appropriated to make Lease Rental Payments required under a Property Schedule Lease for the following fiscal year, the Lessee shall be deemed to not have renewed such Property Schedule Lease for the following fiscal year and the Property Schedule Lease shall terminate at the end of the then current Original Term or Renewal Term and Lessee shall not be obligated to make Lease Rental Payments under said Property Schedule such Lease beyond the then current fiscal year for which funds have been appropriated. Upon the occurrence of such nonappropriation (a "Nonappropriation Event") ), the Lessee shall, no later than the end of the fiscal year for which Lease Rental Payments have been appropriated, deliver possession of the Property Equipment under said Property Schedule such Lease to the Lessor. If ▇▇▇▇▇▇ the Lessee fails to deliver possession of the Property Equipment to the Lessor upon termination of said Property Schedule such Lease by reason of a Nonappropriation Event, the termination shall nevertheless be effective but the Lessee shall be responsible for the payment of damages in an amount equal to the portion of Lease Rental Payments thereafter coming due that is attributable to the number of days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by ▇▇▇▇▇▇ the Lessor as a result of ▇▇▇▇▇▇the Lessee's failure to deliver possession as required. In addition, the Lessor may, by written instructions to any escrow agent who is holding may cause proceeds of the Property Schedule, instruct such escrow agent to release all such proceeds Lease and any earnings thereon to Lessorheld under the Acquisition Fund Agreement, such sums if any, to be credited applied to ▇▇▇▇▇▇the Lessee's obligations under the Property Schedule Lease and this Agreement. The Lessee shall notify the Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Rental Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to the Lessee. Upon a Nonappropriation Event, the Lessor may terminate the Lease, and may require the Lessee, at the Lessee's expense, to promptly return any or all of the Equipment to the possession of the Lessor at such place within the United States as the Lessor shall specify, and the Lessor may thereafter dispose of the Equipment; provided, however, that any proceeds from the disposition of the property in excess of the sum required to (i) pay any amounts then due under the Lease which are to consist of the remaining balance after the lease payments, and (ii) pay the Lessor's costs and Notwithstanding anything provided herein to contrary, all obligations of Lessee hereunder are subject to the annual appropriation by ▇▇▇▇▇▇. (c) The Lessee acknowledges and agrees that the nonappropriation provisions of this Agreement are not intended to be used (i) as a substitute for convenience termination nor (ii) to allow the Lessee to replace the Equipment with other substantially identical or functionally equivalent property. The Lessee, to the extent permitted by law, agrees not to use the nonappropriation provisions for any such purpose.

Appears in 1 contract

Sources: Master Equipment Lease/Purchase Agreement

Nonappropriation. If during the then current Original Term or Renewal Termfiscal year of Lessee, sufficient funds are not appropriated to make Lease Rental Payments required under a Property Schedule Lease for the following fiscal year (an “Event of Nonappropriation”), Lessee shall be deemed not to have renewed such Lease for the following fiscal year, Lessee shall be deemed to not have renewed such Property Schedule for the following fiscal year and the Property Schedule Lease shall terminate at the end of the then current Original Term or Renewal Term fiscal year, and Lessee shall not be obligated to make Lease Rental Payments under said Property Schedule the Lease beyond the then current fiscal year for which funds have been appropriated. Upon an Event of Nonappropriation, Lessee shall return the occurrence Equipment subject to the Lease to Lessor in accordance with the requirements of such nonappropriation (a "Nonappropriation Event") Section 11.3. Lessee shall, shall notify Lessor in writing no later than 30 days following an Event of Nonappropriation, but failure to provide such notice shall not operate to extend the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the Property under said Property Schedule to LessorTerm. If ▇▇▇▇▇▇ Lessee fails to deliver possession of return the Property to Lessor upon termination of said Property Schedule by reason of a Nonappropriation Eventapplicable Equipment or otherwise comply with Section 11.3, the termination shall nevertheless be effective effective, but Lessee shall be responsible for the payment of damages in an amount equal to the portion amount of the Rental Payments that would thereafter have come due if the Lease Payments thereafter coming due that is had not been terminated and which are attributable to the number of days after the termination during which the Lessee fails to deliver possession comply with Lessor’s instructions and for any other loss suffered by ▇▇▇▇▇▇ Lessor as a result of ▇▇▇▇▇▇'s Lessee’s failure to deliver possession take such actions as required. In addition, Lessor may, by written instructions to may instruct any escrow agent who is holding proceeds of the Property Schedule, instruct such escrow agent Lease to release all such proceeds and any earnings thereon to Lessor, such sums to be credited to ▇▇▇▇▇▇'s obligations under the Property Schedule and this Agreement. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.

Appears in 1 contract

Sources: Master Lease Purchase Agreement