We own the Equipment. You will pay when due, either directly or by reimbursing us, all taxes and fees relating to the Equipment and this Agreement. Sales or use tax due upfront will be payable over the term with a finance charge.
We own the Equipment. PBI owns any Meter. Except as stated in Section L6, you will not have the right to become the owner of the Equipment at the end of this Agreement.
We own the Equipment. Nothing in this Contract transfers title to you.
We own the Equipment. You acknowledge that We own the Equipment and in all circumstances We retain title to the Equipment (even if You go into liquidation or become bankrupt during the Hire Period). Your rights to use the Equipment are as a bailee only. You must not offer, sell, assign, sub-let, charge, mortgage, pledge or create any form of security interest over, or otherwise deal with the Equipment in any way.
We own the Equipment. The Parties intend and agree that: (a) The lease constitutes a true “lease” and a “finance lease” as such terms are defined in UCC-2A and not a sale or retention of security interest and (b) You understand that You are not the owner of the Equipment and that You do not have title to it. You understand that You hold the Equipment subject to and subordinate to Our and any of Our assignees’ rights. Title to the Equipment shall at all times remain in Us. In order to secure the prompt payment of the rent and all of the other amounts from time to time outstanding with respect hereto and to each lease, and the performance and observance by You of all of the provisions hereof and thereof and of all of the other documents and instruments executed in connection with this Agreement, You hereby collaterally assign and grant to Us, a security interest in and lien on all of Your right, title and interest in and to all of the following: (1) (if contrary to the parties’ intentions a court determines that such lease is not a true “lease” under the UCC) the Equipment described in such Hardware and/or Software Facility Schedule and related Summary Schedules or otherwise covered thereby (including all inventory, fixtures or other property, related software (embedded therein or otherwise) and general intangibles, additions, attachments, accessories and accessions whether or not furnished by the supplier comprising the Equipment); (2) all subleases, chattel paper, accounts, security deposits, and general intangibles comprising the Equipment, and any and all substitutions, replacements or exchanges for any such item of Equipment or other collateral, in each such case in which You shall from time to time acquire an interest; and (3) any and all insurance and/or other proceeds of the Equipment. The collateral assignment, security interest and lien granted herein shall survive the termination, cancellation or expiration of each lease until such time as Your obligations (other than inchoate indemnity obligations) thereunder are fully and indefeasibly discharged. Software and any licensed products will at all times remain the property of the owner of the software or licensed products. A license from the owner may be required and it is Your responsibility to obtain any required license before using any software or licensed products. You agree to treat software and licensed products as confidential information of the owner, to observe all copyright restrictions, and not to reproduce or...
