Leasee definition
Examples of Leasee in a sentence
Leasee shall pay all premiums with respect to such insurance and a copy of each such policy shall be delivered to Lessor.
Leasee covenants and agrees that the Equipment, its use and Leasee’s rights or interest hereunder shall be and remain free of all liens, charges or encumbrances of any kind or character, voluntary or involuntary, as a result of the acts or omissions of Leasee.
Without prior written consent of Lessor, Leasee will not alter, add to or improve the Equipment; and any alterations, additions or improvements which are made shall become part of the Equipment and subject to the terms of this Agreement.
Any surplus shall be paid to Leasee and any deficiency shall be paid to Lessor by Leasee.
Leasee agrees to give such further assurances and execute such other and further documents as Lessor may reasonably require to implement the purposes and intention of this Agreement, including by way of example and not of limitation, such financing an continuation statements as Lessor shall require to protect its interest in the Equipment.
Lessor shall be entitled to inspect the Equipment and all records of Leasee pertaining thereto upon request and during normal business hours.
The rights of Lessor hereunder may be assigned, pledged, transferred or otherwise disposed of without consent by or notice to Leasee.
The obligations of Leasee herein contained shall survive the expiration of this Agreement as to any loss, damages, claims, causes of action, liabilities, costs or expenses based on or arising out of events occurring during the term of this Agreement.
Leasee agrees to use the Equipment in a careful and proper manner and in compliance with all laws, ordinances and regulations, all manufacturer warranty and other requirements and all requirements of any insurers of the Equipment.
The obligations of Leasee herein contained shall survive the expiration hereof as to any taxes, assessments or other governmental charges arising out of, or assessed or imposed with respect to, the term of this Agreement.