Possession and Use of the Equipment Clause Samples

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Possession and Use of the Equipment. Each piece of Equipment shall be used by Lessee in a manner consistent with its intended purpose and in accordance with its specification. Subject to the terms of Section 13 relating to permitted contests, Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Equipment. Lessee shall not commit or permit any waste of any Equipment or any part thereof.
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Possession and Use of the Equipment. Lessee shall use the Equipment solely in the United States and in the conduct of its business, and shall not permanently discontinue the use of the Equipment. Each Unit shall be used by Lessee in a manner consistent with its intended purpose and in accordance with its specification. Subject to the terms of Section 13 relating to permitted contests, Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Equipment. Lessee shall not commit or permit any waste of any Equipment or any part thereof.
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Possession and Use of the Equipment. Lessees may take possession of the Equipment and may use the same beginning on the Closing Date and continuing thereafter during the Lease Term. Lessees agree that, unless otherwise then subject to a Sublease permitted under Section 6.1, the Equipment will be used solely in the conduct of Lessees’ business at one or more of the Facilities or, in the case of Slot Machines, at a casino or other gaming establishment located in Nevada operated by one or more Lessees, provided that where any Slot Machine is used at a location other than a Facility, the applicable Lessee(s) shall obtain and provide to the Lessor the documents of the type described in Section 2.4(b)(viii) of the Participation Agreement, any and all such documents as Trustee and/or Collateral Agent may reasonably require in order to create, perfect, preserve and protect Lessor’s and Collateral Agent’s respective Liens in such Sublease and Slot Machines and ensure Lessor’s and Collateral Agent’s access to such Slot Machines. No Lessee shall use the Equipment or any part thereof for any purpose or in any manner that would adversely affect the Fair Market Value, utility, remaining useful life or residual value of the Equipment. No Lessee shall (a) use, operate, maintain or store at any time prior to the Expiration Date any item of Equipment or any portion thereof in violation of this Section 8.1, Section 9.1 or any Insurance Requirement; (b) abandon any item of Equipment; or (c) except in connection with the permitted return of the Equipment, permit any item of Equipment to be located in any jurisdiction other than the State of Nevada. Lessees warrant that the Equipment will at all times be used and operated under and in compliance in all material respects with any contracts or agreements, or regulations of Governmental Agencies applicable to the use, maintenance or operation of the Equipment, or any portion thereof, to which such Lessee or Lessor is a party or by which any Lessee or Lessor or the applicable Facility (or other casino or gaming establishment, as the case may be) is bound or under which any of them have rights. At all times during the Lease Term, the Equipment shall be in the possession of Lessees, wholly-owned, direct or indirect, Subsidiaries of Mandalay that are permitted sublessees or another permitted sublessee, in the ordinary course of its business. Lessees shall pay, or cause to be paid, all charges and costs required in connection with the use of the Equipment as contemplated ...
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Possession and Use of the Equipment. (a) At all times during the Basic Term, the Equipment shall be continuously used by Lessee or a permitted sublessee in the ordinary course of its business, subject to usual and customary downtime for repairs, maintenance and the making of modifications. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Equipment as contemplated by this Lease. (b) The address of Lessee stated below or on the applicable Equipment Schedule is the chief place of business and chief executive office of Lessee (as such terms are used in Section 9-103(3) of the Uniform Commercial Code); and except for such names and the names specified on Exhibit B hereto or on the applicable Equipment Schedule, Lessee does not conduct business in a corporate or divisional name at any location where the Equipment is or will be located under any other name. Each Equipment Schedule correctly identifies the location of each item of Equipment and whether any of such locations are leased by Lessee or are subject to any real property mortgage. Lessee has no other places of business where the Equipment will be located other than those identified on the applicable Equipment Schedule. (c) With respect to the Equipment being purchased by Lessor on the Lease Commencement Date or any other Acquisition Date, subject to the terms and conditions of this Lease, the Participation Agreement and the Installation Agency Agreement, Lessor and Lessee shall execute and deliver one or more Equipment Schedules that have a complete description of each item of Equipment to be leased hereunder as of such date, a Purchase Agreement Assignment in the form attached hereto as Exhibit C with respect to each item of Equipment (other than the Siemens Turbine) having a value in excess of $1,000,000 and a Siemens Purchase Agreement Assignment with respect to the Siemens Purchase Agreement. Simultaneously therewith, Lessor shall purchase such Equipment from the applicable third party vendor or make, or reimburse Lessee for, a portion of the installment payments required under the Siemens Purchase Agreement subject to satisfaction of such terms and conditions by paying to Lessee or such vendor an amount equal to the total Equipment Cost or requested amount of advances specified on the Equipment Schedules or in the Notice of Closing Date or Notice of Advance Date for such Equipment, such purchase to be evidenced by a Bill of Sale from such vendor to Lessor in the form attached heret▇...
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Related to Possession and Use of the Equipment

  • Use of the Equipment 9.1 The Equipment shall be used by Hospital only at the Site and shall not be removed therefrom. Hospital shall use the Equipment only in the regular and ordinary course of Hospital's business operations and only within the capacity of the Equipment as determined by Elekta's specifications. Hospital shall not use nor permit the Equipment to be used in any manner nor for any purpose which, in the opinion of Elekta or GKF, the Equipment is not designed or reasonably suitable. 9.2 This is an agreement of lease only. Nothing herein shall be construed as conveying to Hospital any right, title or interest in or to the Equipment, except for the express leasehold interest granted to Hospital for the Term. All Equipment shall remain personal property (even though said Equipment may hereafter become attached or affixed to real property) and the title thereto shall at all times remain exclusively in GKF. 9.3 During the Term, upon the request of GKF, Hospital shall promptly affix to the Equipment in a prominent place, or as otherwise directed by GKF, labels, plates, insignia, lettering or other markings supplied by GKF indicating GKF's ownership of the Equipment, and shall keep the same affixed for the entire Term. Hospital hereby authorizes GKF to cause this Lease or any statement or other instrument showing the interest of GKF in the Equipment to be filed or recorded, or refiled or re-recorded, with all governmental agencies considered appropriate by GKF, at Hospital's cost and expense. Hospital also shall promptly execute and deliver, or cause to be executed and delivered, to GKF any statement or instrument requested by GKF for the purpose of evidencing GKF's interest in the Equipment, including financing statements and waivers with respect to rights in the Equipment from any owners or mortgagees of any real estate where the Equipment may be located. 9.4 At Hospital's cost and expense, Hospital shall (a) protect and defend GKF's ownership of and title to the Equipment from and against all persons claiming against or through Hospital, (b) at all times keep the Equipment free from any and all liens, encumbrances, attachments, levies, executions, burdens, charges or legal processes imposed against Hospital, (c) give GKF immediate written notice of any matter described in clause (b), and (d) in the manner described in Section 22 below indemnify GKF harmless from and against any loss, cost or expense (including reasonable attorneys' fees) with respect to any of the foregoing.

  • Possession and Use Contractor may possess, use and reproduce Confidential Information solely for the Purpose. Contractor shall not use the Confidential Information for any other purpose.

  • Possession and Use of Collateral Subject to the provisions of the Security Documents, the Issuer and the Guarantors shall have the right to remain in possession and retain exclusive control of and to exercise all rights with respect to the Collateral (other than monies or U.S. government obligations deposited pursuant to Article VIII, and other than as set forth in the Security Documents and this Indenture), to operate, manage, develop, lease, use, consume and enjoy the Collateral (other than monies and U.S. government obligations deposited pursuant to Article VIII and other than as set forth in the Security Documents and this Indenture), to alter or repair any Collateral so long as such alterations and repairs do not impair the creation or perfection of the Lien of the Security Documents thereon, and to collect, receive, use, invest and dispose of the reversions, remainders, interest, rents, lease payments, issues, profits, revenues, proceeds and other income thereof.

  • The Equipment 9.1 The British Council Equipment shall remain the property of the British Council and shall be used by the Supplier in the performance of the Services and for no other purposes. 9.2 The British Council shall be responsible for the repair or replacement of the British Council Equipment unless the need for repair or replacement is caused by the Supplier’s failure to comply with clause 9.3 or by the negligence or default of the Supplier. 9.3 The Supplier shall maintain all of the British Council Equipment in good and serviceable condition (fair wear and tear excepted) and shall only use the British Council Equipment in accordance with the British Council Equipment manufacturers’ recommendations. 9.4 The Supplier shall be liable for any loss of or damage to any of the British Council Equipment caused by the negligence or default of the Supplier. 9.5 The Supplier shall not in any circumstances have any right to refuse to return to the British Council any of the British Council Equipment and shall take steps necessary to ensure that the title of the British Council and the British Council’s right to repossess the British Council Equipment are effectively brought to the attention of any third party dealing with any of the British Council Equipment.

  • Installation and Use Rights You may install and use any number of copies of the software on your devices.