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SUNTRUST LEASING CORP - 2001
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SUNTRUST LEASING CORP - 2001
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Last modified
1/3/2012 2:11:44 PM
Creation date
2/21/2008 3:00:07 PM
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Contracts
Company Name
SUNTRUST LEASING CORP
Contract #
A-2001-195M
Agency
Finance & Management Services
Council Approval Date
9/17/2001
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<br />e <br /> <br />e <br /> <br />Capable prior to the date that the failure to be Fully Date Capable would aversely affect the <br />operation thereof. <br /> <br />Section 6.2. Covenants of Lessee. Lessee agrees that so long as any Rental Payments or <br />other amounts due under this Agreement remain unpaid: <br /> <br />(a) Lessee shall not install~ use, operate or maintain the Equipment improperly, <br />carelessly, in violation of any applicable law or regulation or in a manner contrary to that <br />contemplated by this Agreement. Lessee shall obtain and maintain all permits and licenses <br />necessary for the installation and operation of the Equipment. Lessee shall not, without the <br />prior written consent of Lessor, affix or install any accessory equipment or device on any of the <br />Equipment if such addition would change or impair the originally intended functions, value or <br />use of such Equipment. <br /> <br />(b) Lessee shall provide Lessor access at all reasonable times to examine and inspect <br />the Equipment and provide Lessor with such access to the Equipment as may be reasonably <br />necessary to perform maintenance on the Equipment in the event of failure by Lessee to <br />perform its obligations hereunder. <br /> <br />(c) Lessee shall not, directly or indirectly, create, incur, assume or suffer to exist any <br />mortgage, pledge, lien, charge, encumbrance or other claim with respect to the Equipment, <br />other than the respective rights of Lessor and Lessee as herein provided. Lessee shall promptly, <br />at its own expense, take such actions as may be necessary duly to discharge or remove any such <br />claim if the same shall arise at any time. Lessee shall reimburse Lessor for any expense incurred <br />by Lessor in order to discharge or remove any such claim. <br /> <br />(d) The person or entity in charge of preparing Lessee's budget will include in the <br />budget request for each Fiscal Year the Rental Payments to become due during such Fiscal Year, <br />and will use all reasonable and lawful means available to secure the appropriation of money for <br />such Fiscal Year sufficient to pay all Rental Payments coming due therein. Lessor acknowledges <br />that appropriation for Rental Payments is a governmental function which Lessee cannot <br />contractually commit itself in advance to perform. Lessee acknowledges that this Agreement <br />does not constitute such a commitment. However, Lessee reasonably believes that moneys in an <br />amount sufficient to make all Rental Payments can and will lawfully be appropriated and made <br />available to permit Lessee's continued utilization of the Equipment in the performance of its <br />essential functions during the Lease Term. <br /> <br />(e) Lessee shall assure that its obligation to pay Rental Payments is not directly or <br />indirectly secured by any interest in property, other than the Equipment, and that the Rental <br />Payments will not be directly or indirectly secured by or derived from any payments of any <br />type or any fund other than Lessee's general purpose fund. <br /> <br />(f) Upon Lessor's request, Lessee shall provide Lessor with current financial <br />statements, budgets, and proof of appropriation for the ensuing Fiscal Year and such other <br />financial information relating to the ability of Lessee to continue this Agreement as may be <br />reasonably requested by Lessor. <br /> <br />(g) Lessee shall promptly and duly execute and deliver to Lessor such further <br />documents, instruments and assurances and take such further action as Lessor may from time <br />to time reasonably request in order to carry out the intent and purpose of this Agreement and to <br />establish and protect the rights and remedies created or intended to be created in favor of <br />Lessor hereunder. <br /> <br />-7- <br />
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