Renewable Energy Equipment definition
Examples of Renewable Energy Equipment in a sentence
Lessor hereby demises, leases, transfers and lets to Lessee, and Lessee hereby acquires, rents and leases from Lessor, the Renewable Energy Equipment.
After payment of the applicable Termination Value and all other amounts owing hereunder, Lessor’s security interests in and to such Renewable Energy Equipment will be terminated and Lessee will own the Renewable Energy Equipment free and clear of Lessor’s security interest in the Renewable Energy Equipment.
Lessee shall not install, use, operate or maintain the Renewable Energy Equipment (or cause the Renewable Energy Equipment to be installed, used, operated or maintained) improperly, carelessly, in violation of any applicable law or in a manner contrary to that contemplated hereby.
The Renewable Energy Equipment will not be used, directly or indirectly, in any activity carried on by any person other than a state or local governmental unit.
Subject to the terms of this Agreement, Lessor agrees to provide the Acquisition Amount to acquire and install the Renewable Energy Equipment and pay certain of the Delivery Costs.
As additional security for the payment and performance of all of Lessee’s obligations hereunder, Lessee hereby grants to Lessor a first priority security interest constituting a first lien on (a) the Renewable Energy Equipment, (b) moneys and investments held from time to time in the Acquisition Fund and (c) any and all proceeds of any of the foregoing.
Lessee shall at all times protect and defend, at its own cost and expense, its title in and to the Renewable Energy Equipment from and against all claims, liens and legal processes of its creditors, and keep all Renewable Energy Equipment free and clear of all such claims, liens and processes.
So long as Lessee is not in default hereunder, neither Lessor nor any entity claiming by, through or under Lessor, shall interfere with Lessee’s quiet use and enjoyment of the Renewable Energy Equipment during the Lease Term.
None of Lessee’s right, title, and interest in, to and under this Agreement or any portion of the Renewable Energy Equipment or the Acquisition Fund Agreement or the Acquisition Fund may be assigned, encumbered or subleased by Lessee for any reason, and any purported assignment, encumbrance or sublease without Lessor’s prior written consent shall be null and void.
Lessee expressly acknowledges that Lessor makes, and has made, no representations or warranties whatsoever as to the existence or the availability of such warranties relating to the Renewable Energy Equipment.