Common use of Risk of Loss and ValueMAX®Program Clause in Contracts

Risk of Loss and ValueMAX®Program. (a) You bear the entire risk of loss to the Equipment from the date of shipment by us until the Equipment is returned to, and received by, us, regardless of cause, ordinary wear and tear excepted (“Loss”). No Loss will relieve you of any of your obligations under this Lease. You must immediately notify us in writing of any Loss. To protect the Equipment from loss, you will either: (i) keep the Equipment insured against Loss for its full replacement value under a comprehensive policy of insurance or other arrangement that is reasonably satisfactory to us (“Insurance”); or (ii) be enrolled in PBGFS’ ValueMAX program described in paragraph (b) below.

Risk of Loss and ValueMAX®Program. (a) You bear the entire risk of loss loss, theft, damage or destruction to the Equipment from the date of shipment by us until the Equipment is returned to, and received by, us, regardless of cause, ordinary wear and tear excepted (“Loss”). No Loss will relieve you of any of your obligations under this Lease. You must immediately notify us in writing of any Loss. To protect the Equipment from loss, you will either: (i) keep the Equipment insured against Loss for its full replacement value under a comprehensive policy of insurance or other arrangement that is reasonably satisfactory to us (“Insurance”); or (ii) be enrolled in PBGFS’ ValueMAX program described in paragraph (b) below.