Common use of The Equipment Clause in Contracts

The Equipment. 4.1. The Equipment will remain the property of the Lessor, and nothing in the Agreement will be construed as conferring on the Lessee any right to, or interest in, the Equipment other than the right to the use and enjoyment thereof for the duration of the Agreement. 4.2. The Lessee will continue to pay and be liable for the Monthly Rental Fee, notwithstanding any cause or condition which may result in the Equipment becoming unusable or being temporarily out of order - provided, however, that the Lessor restores the Equipment to working order within a reasonable time after having received written notification from the Lessee that the Equipment is out of order. If the Lessor fails to restore the out of order Equipment within a reasonable period after having received written notification to do so, the Lessee’s obligation to pay the current Monthly Rental Fee will be suspended until such time as the Equipment is restored to working order. Save as aforesaid, the Lessee will have no further claims or remedies against the Lessor by reason of the Equipment not having been restored to working order within a reasonable time.

The Equipment. 4.1. The Equipment will remain the property of the Lessor, and nothing in the Agreement will be construed as conferring on the Lessee any right to, or interest in, the Equipment other than the right to the use and enjoyment thereof for the duration of the Agreement. 4.2. The Lessee will continue to pay and be liable for the Monthly Rental Fee, notwithstanding any cause or condition which may result in the Equipment becoming unusable or being temporarily out of order - provided, however, that the Lessor restores the Equipment to working order within a reasonable time after having received written notification from the Lessee that the Equipment is out of order. If the Lessor fails to restore the out of order Equipment within a reasonable period after having received written notification to do so, the Lessee’s obligation to pay the current Monthly Rental Fee will be suspended until such time as the Equipment is restored to working order. Save as aforesaid, the Lessee will have no further claims or remedies against the Lessor by reason of the Equipment not having been restored to working order within a reasonable time.