EQUIPMENT SCHEDULE
MATRIX FUNDING CORPORATION
0000 Xxxxx Xxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxx 00000
LEASE NO. R0551
EQUIPMENT SCHEDULE NO. 2
SCHEDULE DATE: October 7, 1996
To Master Lease Agreement dated May 13, 1996 between MATRIX FUNDING CORPORATION,
as Lessor and VODAVI COMMUNICATIONS SYSTEMS, INC., as Lessee. This Equipment
Schedule incorporates by reference the terms and conditions of the Master Lease
and constitutes a separate lease between Lessor and Lessee.
1. Equipment: Computer equipment to be more fully described on an attached
Schedule A, together with all other equipment and property hereafter
purchased by Matrix Funding Corporation pursuant to that Master
Progress Funding Agreement dated May 13, 1996, between Matrix Funding
Corporation and Vodavi Communications Systems, Inc. (including without
limitation, all authorizations signed in connection with said Master
Progress Funding Agreement), and any and all additions, enhancements
and replacements thereto.
The equipment and property subject to this Equipment Schedule shall be
more fully and completely described in an Acceptance Certificate which
shall later be executed by Lessee in connection with this Equipment
Schedule. Upon Xxxxxx's execution thereof, this Equipment Schedule
shall be automatically amended to include herein as property leased
hereunder all equipment and property described in said Acceptance
Certificate.
2. Equipment Location: 0000 X. Xxxxxxxx Xxxxx, Xxxxxxxxxx, XX 00000
3. Acceptance Date: As specified in the Acceptance Certificate
4. Initial Period: 24 months from Commencement Date
5. Monthly Rental: $18,158.76 (plus applicable sales tax)
6. Deposit: $3,340.49 applied to the last Monthly Rental (plus applicable
sales tax)
7. Total Cost not to Exceed: $400,000.00
8. Floating Lease Rate Factor: The Lease Rate Factor of .0453969 shall
increase .0003990 for every five (05) basis point increase in
thirty-six (36) month U.S. Treasury Notes, until all items of equipment
have installed, at which point the Acceptance Date of the lease shall
have occurred. The thirty-six (36) month U.S. Treasury Note yield used
as the basis for the derivation of the Lease Rate Factor contained
herein is 5.05%.
9. For this Equipment Schedule No. 1, the fourth and fifth lines of
Section 19(k) of the Master Lease will be amended by deleting the
phrase "a mutually agreeable price" and substituting in place thereof
"$1.00".
10. Representation of Lessee: Lessor and Lessee agree that this Equipment
Schedule constitutes a "finance lease" under the Utah Uniform
Commercial Code - Leases, in that (a) Lessee has selected the Equipment
in its sole discretion, (b) Lessor has acquired the Equipment solely
for purposes of leasing such Equipment under this Equipment Schedule,
or (c) Lessee has received a copy of the contract evidencing Lessor's
purchase of the Equipment.
LESSOR: LESSEE:
MATRIX FUNDING CORPORATION VODAVI COMMUNICATIONS SYSTEMS,
INC.
BY: _________________________________ BY: ________________________________
TITLE: ______________________________ TITLE: _____________________________
ACCEPTANCE CERTIFICATE
TO
EQUIPMENT SCHEDULE NO. 2
TO
Master Lease Agreement No. RO551 dated May 13, 1996, (the "Lease") between
MATRIX FUNDING CORPORATION, (the "Lessor"), and VODAVI COMMUNICATIONS SYSTEMS,
INC., (the "Lessee").
1. Condition of the Equipment:
The Lessee certifies that all items of Equipment described in Paragraph
4 have been delivered to the location indicated in Paragraph 2, and are
hereby accepted as items of Equipment under the Lease, all on the date
indicated in Paragraph 3.
2. Location of Equipment: 0000 X. Xxxxxxxx Xxxxx, Xxxxxxxxxx, XX 00000
3. Acceptance Date: _________________________________________
4. Description of Equipment: Computer as more fully described on an
attached Schedule A.
LESSEE:
VODAVI COMMUNICATIONS SYSTEMS, INC.
BY: _____________________________________
TITLE: __________________________________
SCHEDULE A
Equipment as more fully described on an attached Schedule, which by reference to
becomes a part hereof, together with all other equipment and property hereafter
purchased by Matrix Funding Corporation pursuant to that Master Progress Funding
Agreement dated May 13, 1996, between Matrix Funding Corporation and Vodavi
Communications Systems, Inc. (including without limitation, all authorizations
signed in connection with said Master Progress Funding Agreement), and any and
all additions, enhancements and replacements thereto and all proceeds thereform.
