Common use of USE AND MAINTENANCE Clause in Contracts

USE AND MAINTENANCE. (a) Lessee shall (1) use the Equipment solely in the continental United States and Canada (so long as at least 51% of the annual aggregate usage of each item of Equipment occurs within the continental United Sates) and in the conduct of its business, for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use of the Equipment; (2) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating thereto, (A) in accordance and consistent with (i) the Supplier's recommendations and all maintenance and operating manuals or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued by the Supplier or service provider, (ii) the requirements of all applicable insurance policies, (iii) the Supply Contract, so as to preserve all of Lessee's and Lessor's rights thereunder, including all rights to any warranties, indemnities or other rights or remedies, (iv) all applicable laws, and (v) the prudent practice of other similar companies in the same business as Lessee, but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned or leased by it; and (B) without limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's full compliance with the terms hereof;

Appears in 1 contract

Sources: Master Lease Agreement (Smithway Motor Xpress Corp)

USE AND MAINTENANCE. (a) Lessee shall (1) use the Equipment solely in the continental United States and Canada (so long as at least 51% of the annual aggregate usage of each item of Equipment occurs within the continental United Sates) and in the conduct of its business, for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use of the Equipment; (2) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating thereto, (A) in accordance and consistent with (i) the Supplier's recommendations and all maintenance and operating manuals or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued by the Supplier or service provider, (ii) the requirements of all applicable insurance policies, (iii) the Supply Contract, so as to preserve all of Lessee's and Lessor's rights thereunder, including all rights to any warranties, indemnities or other rights or remedies, (iv) all applicable laws, and (v) the prudent practice of other similar companies in the same business as Lessee, but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned or leased by it; and (B) without limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's full compliance with the terms hereof;

Appears in 1 contract

Sources: Master Lease Agreement (Meadowbrook Insurance Group Inc)

USE AND MAINTENANCE. (a) Lessee shall (1) use the Equipment solely in the continental United States and Canada (so long as at least 51% of the annual aggregate usage of each item of Equipment occurs within the continental United Sates) and in the conduct of its it business, for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use of the Equipment; (2) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating thereto, (A) in accordance and consistent with (i) the Supplier's recommendations and all maintenance and operating manuals or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued by the Supplier or service provider, (ii) the requirements of all applicable insurance policies, (iii) the Supply Contract, so as to preserve all of Lessee's and Lessor's rights thereunder, including all rights to any warranties, indemnities or other rights or remedies, (iv) all applicable laws, and (v) the prudent practice of other similar companies in the same business as Lessee, but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned by or leased by it; and (B) without limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's full compliance with the terms hereof;

Appears in 1 contract

Sources: Master Lease Agreement (Icoa Inc)

USE AND MAINTENANCE. (a) Lessee shall shall: (1) use the Equipment solely in the continental Continental United States and Canada (so long as at least 51% provided, however, that use of any item of the annual aggregate usage Equipment outside the Continental United States shall not exceed fifty (50) percent of each the total use of such item of the Equipment occurs within the continental United Sates) during any calendar year), and in the conduct of its business, for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use of the Equipment; (2) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating thereto, (Ai) in accordance and consistent substantial compliance with (iA) the Supplier's recommendations and all maintenance and operating manuals or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued by the Supplier or service provider, (iiB) the requirements of all applicable insurance policies, (iiiC) the Supply Contract, so as to preserve all of Lessee's and Lessor's rights thereunder, including all rights to any warranties, indemnities or other rights or remedies, (ivD) all material applicable laws, and (vE) the prudent practice of other similar companies in the same business as Lessee, but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned or leased by itit (provided that such maintenance program shall be subject to review by Lessor and must be reasonably satisfactory to Lessor); and (Bii) without limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's full compliance with the terms hereof;; (

Appears in 1 contract

Sources: Master Lease Agreement (Transit Group Inc)

USE AND MAINTENANCE. (a) Lessee shall (1i) use the Equipment solely in the continental United States and Canada (so long as at least 51% of the annual aggregate usage of each item of Equipment occurs within the continental United Sates) and in the conduct of its business, for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use of the Equipment; (2ii) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating thereto, (A) in accordance and consistent with (i1) the Supplier's ’s recommendations and all maintenance and operating manuals or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued by the Supplier or service provider, (ii2) the requirements of all applicable insurance policies, (iii3) the Supply Contract, so as to preserve all of Lessee's ’s and Lessor's ’s rights thereunder, including all rights to any warranties, indemnities or other rights or remedies, (iv4) all applicable laws, and (v5) the prudent practice of other similar companies in the same business as Lessee, but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned or leased by it; and (B) without limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's ’s full compliance with the terms hereof;; (iii) not change the location of any Equipment as specified in the Schedule without the prior written consent of Lessor which shall not be unreasonably withheld. To the extent such Equipment constitutes rolling stock,

Appears in 1 contract

Sources: Equipment Lease Agreement (Powersecure International, Inc.)