Equipment Lease. Tenant shall not enter into any equipment lease that is not a capital lease for equipment having a fair market value exceeding U.S.$50,000, or annual lease expense exceeding U.S.$50,000, without the prior written consent of Landlord, and all such Equipment Leases shall expressly authorize a turnover to Landlord or its designee of such equipment and Equipment Lease pursuant to the terms of the Turnover Agreement. Tenant agrees to turn over delivery of such equipment to Landlord or its designee in good operating condition and repair at the termination of this Lease. The dollar limits in this Section 4.7 shall increase annually by 3%, compounded annually.
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Samples: Sub Permit and Lease Agreement, Sub Permit and Lease Agreement (CNL Lifestyle Properties Inc), Sub Permit and Lease Agreement (CNL Income Properties Inc)
Equipment Lease. Tenant shall not enter into any equipment lease that is not a capital lease for equipment having a fair market value exceeding U.S.$50,000$10,000, or annual lease expense exceeding U.S.$50,000$10,000, without the prior written consent of Landlord, and all such Equipment Leases shall expressly authorize a turnover to Landlord or its designee of such equipment and Equipment Lease pursuant to the terms of the Turnover Agreement. Tenant agrees to turn over delivery of such equipment to Landlord or its designee in good operating condition and repair at the termination of this Lease. The dollar limits in this Section 4.7 shall increase annually by 3%, compounded annually.
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