Unit Replacement Clause Samples

Unit Replacement. If any Unit is lost, stolen, destroyed, seized by governmental action or, in Lessee's opinion or Lessor's opinion, damaged ("Event of Loss"), this Lease shall remain in full force and effect without abatement of Rent and Lessee shall promptly replace such Unit at its sole expense with a Unit of equivalent value and utility, and similar kind and in substantially the same condition as the replaced Unit immediately prior to the Event of Loss. Title to such replacement unit immediately shall vest and remain in Lessor, and such unit shall be deemed a Unit under this Lease. Upon such vesting of title and provided Lessee is not in default under this Lease, Lessor shall cause to be paid to Lessee or the vendor of the replacement unit any insurance proceeds actually received by Lessor for the replacement Unit. Lessee shall promptly notify Lessor of any Event of Loss and shall provide Lessor with and shall enter into, execute and deliver such documentation as Lessor shall request with respect to the replacement of any such Unit.
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Unit Replacement. If any Unit is lost, stolen, destroyed, seized by governmental action or, in Second Party's opinion or First Party's opinion, damaged ("Event of Loss"), this Lease shall remain in full force and effect without abatement of Rent and Second Party shall promptly replace such Unit at its sole expense with a Unit of equivalent value and utility, and similar kind and in substantially the same condition as the replaced Unit immediately prior to the Event of Loss. Title to such replacement unit immediately shall vest and remain in First Party, and such unit shall be deemed a Unit under this Lease. Upon such vesting of title and provided Second Party is not in default under this Lease, First Party shall cause to be paid to Second Party or the vendor of the replacement unit any insurance proceeds actually received by First
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Unit Replacement. Upon its receipt of a replacement component, Customer must relinquish the defective unit to Warrantor. If the defective unit is not returned within 30 days, ▇▇▇▇▇▇▇▇ agrees to pay Warrantor the cost for the replacement unit upon receipt of invoice. Failure to honor the invoice within 45 days after receipt will allow Warrantor to impose overdue charges as provided in the Master Agreement.
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Unit Replacement. Soltaro has the option, but not the obligation, to send the End User a whole replacement unit before the Defective Product is returned to Soltaro or its licensed Distributor (the “Replacement Product”). If a Replacement Product is provided by Soltaro, it is provided under the express condition that the Defective Product needs to be returned to Soltaro or its licensed Distributor upon installation of the Replacement Product, or the Replacement Product needs to be purchased. Soltaro shall provide the End User with an invoice (the “Replacement Invoice”). If the End User does not send back the Defective Product to Soltaro or the Retailer as noted on the Replacement Invoice within 15 days of receiving the Replacement Product, then the invoice of the Replacement Product becomes due and payable and not available to offset against other perceived or actual claims against Soltaro or the Retailer. If End User fails to pay such invoice within fifteen (15) days after it becoming due, in addition to any other legal rights and remedies available to Soltaro, Soltaro may terminate its service on the unpaid Replacement Product without further notice. If the End User decides to purchase a Replacement Product, return of the Defective Product under an approved Warranty Claim may result in a credit being paid to the End User for the cost of the Replacement Product.
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Unit Replacement. If any Unit is lost, stolen destroyed, seized by governmental action or, in Lessee's opinion, damaged beyond repair ("Event of Loss"), the Lease Schedule shall remain in full force and effect without abatement of Rent and Lessee shall promptly replace such Unit at its sole expense with a unit of equivalent value and utility, like or improved and similar kind, and in substantially the same condition as the replaced Unit immediately prior to the Event of Loss. Title to such replace unit immediately shall vest, and remain in Lessor. Such Unit shall be deemed a Unit under the Lease Schedule. Upon such vesting of title and provided Lessee is not in default under the Lease Schedule, Lessor shall cause to be paid to Lessee or the vendor of the replacement unit any insurance proceeds actually received by Lessor for the replace Unit.
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Unit Replacement. If any Unit is lost, stolen, destroyed, seized by governmental action or, in Lessee's opinion or Lessor's opinion, is damaged and cannot be repaired ("Event of Loss"), this Lease shall remain in full force and effect without abatement of Rent and Lessee shall promptly replace such Unit at its sole expense with a Unit of equivalent value and utility, and similar kind and in substantially the same condition as the replaced Unit immediately prior to the Event of Loss, unless any such Event of Loss results from Lessor's intentional misconduct or negligence, in which case Lessor shall promptly replace such Unit at its sole expense with a Unit of equivalent value and utility, and similar kind and in substantially the same condition as the replaced Unit immediately prior to the Event of Loss. Title to such replacement unit immediately shall vest and remain in Lessor, and such unit shall be deemed a Unit under this Lease. Upon such vesting of title and provided Lessee is not in default under this Lease, Lessor shall cause to be paid to Lessee or the vendor of any replacement Unit provided by Lessee any insurance proceeds actually received by Lessor for the replacement Unit. Lessee shall promptly notify Lessor of any Event of Loss and shall provide Lessor with and shall enter into, execute and deliver such documentation as Lessor shall reasonably request with respect to the replacement of any such Unit.
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Related to Unit Replacement

  • Benchmark Replacement Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (a) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (b) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the affected Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a monthly basis.

  • Emergency Replacement SAP may replace a Subprocessor without advance notice where the reason for the change is outside of SAP’s reasonable control and prompt replacement is required for security or other urgent reasons. In this case, SAP will inform Customer of the replacement Subprocessor as soon as possible following its appointment. Section 6.3 applies accordingly.

  • Exchange and Replacement Subject to Section 7, this Warrant is exchangeable, upon the surrender hereof by the holder hereof at the office or agency of the Company referred to in Section 1, for new Warrants of like tenor and date representing in the aggregate the right to purchase the number of Shares which may be purchased hereunder, each of such new Warrants to represent the right to purchase such number of Shares as shall be designated by said holder hereof at the time of such surrender. Upon receipt by the Company at the office or agency referred to in Section 1 of evidence reasonably satisfactory to it of the loss, theft or destruction of this Warrant and of indemnity or security reasonably satisfactory to it (provided that the written indemnity of the holder hereof shall be deemed reasonably satisfactory to the Company for such purposes), the Company will deliver a new Warrant of like tenor and date in replacement of this Warrant. This Warrant shall be promptly canceled by the Company upon the surrender hereof in connection with any transfer, exchange or replacement. The Company will pay all expenses and charges payable in connection with the preparation, execution and delivery of Warrants pursuant to Section 7 and this Section 8.

  • Repair and Replacement Company shall be responsible to Lessor for reasonable replacement costs, or reasonable repair costs of all Equipment which is lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment at the time of such loss. Prior to repairing the Equipment, Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment is lost or stolen, Company shall file a police report.

  • Card Replacement If you need to replace your Card for any reason, please contact us at ▇-▇▇▇-▇-▇▇▇▇▇▇ (▇-▇▇▇-▇▇▇-▇▇▇▇); or login to your Card Account at ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇ to request a replacement Card. You will be required to provide personal information which may include your Card number, full name, transaction history, etc. There is a fee for replacing your Card.