Common use of Purchase of Equipment Clause in Contracts

Purchase of Equipment. Lessor is not obligated to purchase or lease a unit of Equipment unless before the Last Funding Date; (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; (ii) Lessee has irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance in the form of Annex B attached to the applicable Schedule; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment and (iv) there is no Default (Section 13). If Lessor has accepted a Purchase Order Assignment but the Lease does not commence, Lessor may reassign the Purchase Order and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 15). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each Schedule, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price to account for equipment change orders or returns, invoicing errors and similar matters, and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Taser International Inc)

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Purchase of Equipment. Lessor is not obligated Leasehold Improvements and Net Working Capital at End of Term. Upon expiration or termination of this Lease, except a termination pursuant to purchase Section 2.2 or lease a unit of Equipment unless before the Last Funding Date; Section 2.3(b) hereof, Lessors may purchase: (i) Lessor receives from all equipment owned by Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment used by Lessee in the form operation of Annex A attached the Premises which has been purchased within the last three years prior to the applicable Schedule and date of such other documents as Lessor may requireexpiration or termination and; (ii) any and all leasehold improvements completed and/or installed by Lessee has irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance on or in the form of Annex B attached Premises within the last three years prior to the applicable Scheduledate of the expiration or termination; (iii) Lessor has received provided, however, Lessors shall not have the right to purchase such equipment without also purchasing such leasehold improvements and vice versa. If Lessors and Lessee do not reach agreement regarding Lessors' purchase of such equipment and leasehold improvements, Lessee may remove them from Supplier clear and unencumbered title the Premises, providing only that in so removing them Lessee causes only so much damage to the Equipment Premises as is reasonable. Lessee shall be under no obligation to repair any such reasonable damage. Upon expiration or earlier termination of this Lease, Lessors, at their option, may purchase (i) all of the personal property owned by Lessee and used exclusively in the operations of the Premises and (ivii) there is no Default the Net Working Capital (Section 13defined as Patient Accounts Receivable (net of allowances), Other Receivables, Inventories and Other Current Assets less Accounts Payable and Accrued Expenses and Other) of Lessee relating to the operation of the Premises as of the last day of the Term or Extended Term, as the case may be, corresponding to the "Net Working Capital" items purchased by Lessee from Lessors pursuant to the provisions set forth in the Asset Purchase Agreement. If Lessor has accepted a Purchase Order Assignment but The purchase price paid by Lessors for such personal property, equipment and leasehold improvements shall be the Lease does not commencethen net book value of such equipment, Lessor may reassign the Purchase Order personal property and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest leasehold improvements at the Overdue Rate (Section 15)date of expiration or earlier termination of this Lease, based on Lessee's books and records which shall be kept in accordance with generally accepted accounting principles consistently applied, except for the inclusion of footnotes and normal year end adjustments. So long as no Default has occurredLessee shall transfer and convey the same by xxxx of sale, Lessor appoints Lessee its agent to inspect free of all liens and accept Lessors shall pay the Equipment from Supplier simultaneously with acceptance purchase price in cash in return for delivery of the Equipment for lease. For each Schedule, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price to account for equipment change orders or returns, invoicing errors and similar matters, and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price and TRANSACTION TERMS, if different from those stated in the applicable Schedulexxxx of sale.

Appears in 1 contract

Samples: Lease Agreement (Province Healthcare Co)

Purchase of Equipment. (a) Lessor is not obligated to purchase or lease a unit of Equipment Equipment, including the Software, unless before the Last Funding Date; Expiration Date on a Schedule: (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; : (ii) Lessee Lessor has confirmed to its satisfaction, either in writing or pursuant to a telephone audit, that the Equipment and any Software have been delivered and irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance in the form of Annex B attached to the applicable ScheduleLessee; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment Equipment; and (iv) there is no Default (Section 13). If Lessor has accepted a Purchase Order Assignment but the Lease does not commence, Lessor may reassign the Purchase Order and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 15). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each ScheduleLease, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price Cost by no more than fifteen percent (15%) to account for equipment change orders or returns, invoicing errors and similar matters, any adjustments required by commencement of any Lease after the applicable Expiration Date or to make any Leases continuous and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price Cost and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Colorsmart Com Inc)

Purchase of Equipment. Lessor is not obligated to purchase or lease a unit of Equipment unless before the Last Funding Date; : (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; (ii) Lessee has irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance in the form of Annex B attached to the applicable Schedule; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment Equipment, and (iv) there is no Default (Section 13). If Lessor has accepted a Purchase Order Assignment but the Lease does not commence, Lessor may reassign the Purchase Order and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 15). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each Schedule, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price to account for equipment change orders or returns, invoicing errors and similar matters, and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Taser International Inc)

Purchase of Equipment. Lessor is not obligated to purchase or lease a unit of Equipment unless before the Last Funding Date; : (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; (ii) Lessee has irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance in the form of Annex B attached to the applicable Schedule; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment Equipment; and (iv) there is no Default (Section 13). If Lessor has accepted a Purchase Order Assignment but the Lease does not commence, Lessor may reassign the Purchase Order and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 15). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each Schedule, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price to account for equipment change orders or returns, invoicing errors and similar matters, and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Satcon Technology Corp)

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Purchase of Equipment. Lessor is not obligated to purchase or lease a unit of Equipment unless before the Last Funding Date; : (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; (ii) Lessee has irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Lease Commencement Certificate of Acceptance in the form of Annex B attached to the applicable Schedule; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment Equipment; and (iv) there is no Default (Section 13). If Lessor has accepted a Purchase Order Assignment but the Lease does not commence, Lessor may reassign the Purchase Order and the Equipment to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 15). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each Schedule, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price by no more than fifteen percent (15%) to account for equipment change orders or returns, invoicing errors and similar matters, and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Infinite Graphics Inc)

Purchase of Equipment. (a) Lessor is not obligated to purchase or lease a unit of Equipment Equipment, including the Software, unless before the Last Funding Date; Expiration Date on a Schedule: (i) Lessor receives from Lessee a fully signed and completed Agreement, Schedule, Purchase Order Assignment in the form of Annex A attached to the applicable Schedule and such other documents as Lessor may require; (ii) Lessee Lessor has confirmed to its satisfaction, either in writing or pursuant to a telephone audit, that the Equipment and any Software have been delivered and irrevocably accepted the unit of Equipment for lease from Lessor by properly signing and delivering to Lessor a Certificate of Acceptance in the form of Annex B attached to the applicable ScheduleLessee; (iii) Lessor has received from Supplier clear and unencumbered title to the Equipment Equipment; and (iv) there is no Default (Section 13). If Lessor has accepted a assignment of or issued any purchase order, agreement or ancillary documents (the “Purchase Order Assignment Agreement”) for Equipment and/or Software but the Lease does not commence, Lessor may reassign all rights under the Purchase Order and the Equipment Agreement to Lessee without recourse or warranty and Lessee will reimburse Lessor for all expenses incurred, plus interest at the Overdue Rate (Section 1517). So long as no Default has occurred, Lessor appoints Lessee its agent to inspect and accept the Equipment from Supplier simultaneously with acceptance of the Equipment for lease. For each ScheduleLease, Lessee irrevocably authorizes Lessor to adjust the Equipment Price and Total Price Cost to account for equipment change orders or returns, invoicing errors and similar matters, any adjustments required by commencement of any Lease after the Expiration Date or to make any Leases coterminous and agrees to any resulting adjustments in the TRANSACTION TERMS stated in the applicable Schedule. Lessor will send Lessee a written notice stating the final Equipment Price, Total Price Cost and TRANSACTION TERMS, if different from those stated in the applicable Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (NGTV)

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