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BANC OF AMERICA LEASING & CAPITAL LLC - EQUIP LEASE AGMT 2005
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BANC OF AMERICA LEASING & CAPITAL LLC - EQUIP LEASE AGMT 2005
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
4/21/2005
LONG TERM AGREEMENTS - NAME
BANC OF AMERICA LEASING & CAPITAL LLC
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
CALLIPPE
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completing such repair, restoration, modification or improvement or after purchasing such <br /> Equipment and such other Equipment shall be retained by Lessee. If Lessee shall make any <br /> payments pursuant to this Section, Lessee shall not be entitled to any reimbursement <br /> therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable <br /> under Article IV. <br /> ARTICLE IX <br /> Section 9.01. Disclaimer of Warranties. Lessor makes no warranty or <br /> representation, either express or implied, as to the value, design, condition, merchantability <br /> or fitness for particular purpose or fitness for use of the Equipment, or any other <br /> warranty or representation, express or implied, with respect thereto and, as to Lessor, <br /> Lessee's acquisition of the Equipment shall be on an "as is" basis. In no event shall Lessor <br /> be liable for any incidental, indirect, special or consequential damage in connection with <br /> or arising out of this Agreement, any Lease, the Equipment or the existence, furnishing, <br /> functioning or Lessee's use of any item, product or service provided for In this Agreement <br /> or any Lease. <br /> Section 9.02. Vendor's Warranties. Lessor hereby irrevocably appoints Lessee its <br /> agent and attorney-in-fact during each Lease Term, so long as Lessee shall not be in default <br /> under the related Lease, to assert from time to time whatever claims and rights (including <br /> without limitation warranties) relating to the Equipment that Lessor may have against <br /> Vendor. Lessee's sole remedy for the breach of such warranty, indemnification or <br /> representation shall be against Vendor of the Equipment, and not against Lessor. Any <br /> such matter shall not have any effect whatsoever on the rights and obligations of Lessor <br /> with respect to any Lease, Including the right to receive full and timely payments under a <br /> Lease. Lessee expressly acknowledges that Lessor makes, and has made, no representations <br /> or warranties whatsoever as to the existence or the availability of such warranties relating <br /> to the Equipment. <br /> ARTICLE X <br /> Section 10.01. Purchase Option. Lessee shall have the option to purchase all of the <br /> Equipment listed in a Lease, at the following times and upon the following terms•. <br /> (a) From and after the date specified in the related Schedule (the "Purchase <br /> Option Commencement Dates), on the Rental Payment dates specified in each Lease, upon <br /> not less than 30 days' prior written notice, and upon payment in full of the Rental <br /> Payments then due under such Lease plus the then applicable Purchase Price, which may <br /> include a prepayment premium on the unpaid balance as set forth in the applicable <br /> Schedule; or <br /> (b) In the event of substantial damage to or destruction or condemnation of <br /> substantially all of the Equipment listed in a Lease, on the day specified in Lessee's notice <br /> to Lessor of its exercise of the purchase option (which shall be the earlier of the next <br /> Rental Payment date or 60 days after the casualty event) upon payment in full to Lessor <br /> #2I9845v12(Gov't Entity Master Lease) 14 <br />
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