Res 1997-094 - Laserfiche WebLink

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~ 5'1<. not previously been terminated; Lessee shall have the option to purchase all (but not less than all) of the Equipment effective as of the last day of the term of this Lease under the following terms and conditions: Lessee shall have the right to purchase the Equipment, on an "as-is", where-is", "with all faults and defects" basis, without representation or waITanty of any kind, for $ 1.00 , provided that such right is further subject to payment in full of the purchase price on or before the expiration of the final renewal term of this Lease. Lessee shall payor reimburse Lessor all of Lessor's costs and expenses incurred in connection with I such purchase and shall pay all ta.xes, if any, imposed in connection with such sale (other than taxes imposed on or measured by Lessor's net income). Upon such purchase under the provisions ofthis Section, Lessor shall take or cause to be taken all actions necessary to remove the lien of Lessor ITom the Certificate(s) and shall transfer or assign, or cause to be transferred or assigned, all rights of Lessor therein to Lessee. 9. Modification to Agreement: All terms and conditions of this Lease shall be as set forth above and in the Agreement, except (if additional space is required, attach an Addendum to this Lease): N/A 10. Conditions Precedent: Lessor shall have no obligation to purchase the Equipment and to lease the same to Lessee hereunder: (a) if the actual cost of the Equipment exceeds the OIjginal cost thereof set forth hereinabove; (b) ifthere exists any Event ofDefauIt or event or condition which, with the lapse of time or the giving of notice or both, would constitute an Event of Default; or (c) unless prior to the Acceptance Deadline, Lessee, at its expense, shall have delivered or caused to be delivered to Lessor all of the documents required under Section 3 of the Agreement and, in addition, Lessee, at its expense, shall have fully satisfied all of the following additional conditions precedent (if additional space is required, attach an Addendum to this Lease): NlA _0 11. Schedule: The "Schedule of Stipulated Loss Percentages" that is attached or that refers to this Equipment Schedule is by this reference expressly incorporated herein as iffully set forth herein. 12. Reaffirmation: By their execution and delivery of this Equipment Schedule, the parties hereby reaffirm all ofthe terms and conditions of the Agreement, except to the extent, if any, modified hereby. 13. Counterparts: The Equipment Schedule evidencing this Lease may be executed ín more than one original counterpart. However, only the counterpart designated below as "Counterpart No. I" shall evidence the monetary obligation of Lessee with respect to this Lease. To the extent, if any, that this Lease constitutes "chattel paper," as that term is defined in the Uniform Commercial Code of the State, no security interest in this Lease may be created or perfected by the transfer or possession of any counterpart hereof other than said "Counterpart No. 1." .... ..J