Common use of Excessive Use Indemnity Clause in Contracts

Excessive Use Indemnity. In the event that at the end of any Lease Supplement Term: (a) Lessee elects the Sale Option; and (b) after paying to Lessor any amounts due under Section 4.5 of the Lease, including the Proceeds and the Recourse Deficiency Amount or the Applicable Percentage Amount, Lessor does not have sufficient funds to reduce such Lease Supplement Balance to zero, then Lessee shall promptly pay over to Lessor the shortfall unless Lessee delivers a report from an independent Participation Agreement appraiser in form and substance satisfactory to the Required Entities which establishes that the decline in value in the applicable System or Systems subject to such Lease Supplement was not due to the excessive use of any such Systems, failure to maintain any such Systems, modifications or restorations which reduce the value of any such Systems, any adverse change in the environmental condition of any such Systems, or any defect or exception to title to any such System or Systems and any related Equipment.

Appears in 3 contracts

Sources: Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc)