Existing Equipment definition
Examples of Existing Equipment in a sentence
For Repair-Maintenance Work on Existing Equipment and Facilities - Time and one half the regular rate after a 7 hour day, or for Saturday, or for Sunday.
The sale of the Units described on Schedule 1-A hereto and the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases by TRLTII contemplated hereby is intended for all purposes to be a true sale of all of TRLTII's right, title and interest in and to such Units, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases to the Lessee, which shall be the legal owner thereof upon such sale.
Subject to the terms and conditions of this Addendum, the Obligations under the Agreement, other than the Existing Equipment Advance, shall bear interest at the Prime Referenced Rate plus the Applicable Margin.
Each of Lessor and Lessee for itself, its Affiliates and its and their successors and assigns agrees that the termination of the Existing Lease shall be treated as a termination by agreement without fault or breach on the part of either Lessor or Lessee and the terms of Section 3.2 of the Existing Equipment Lease shall apply to such termination provisions; provided that Section 3.2(c) shall be inapplicable and excluded in all respects for the purposes of such termination.
Except as set forth in the Pricing Addendum, Borrower may prepay the Existing Equipment Advance as provided in Section 2.3(f).