SUNTRUST LEASING CORP - 2001 - Laserfiche WebLink

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e e (h) Lessee has initiated, at its sole expense, and shall maintain a program to: (i) advise Lessor in the event that it has reason to believe that any material Date Affected Information Technology will not be Fully Date Capable prior to the date that the failure to be Fully Date Capable would adversely affect the operation thereof, and (ii) advise Lessor in the event that Lessee has reason to believe that it will be adversely affected by the failure of any affiliated or nonaffiliated entity to have its Date Affected Information Technology Fully Date Capable. (i) Lessee shall provide Lessor, upon request, access to and copies of information necessary to permit Lessor to determine whether Lessee's Date Affected Information Technology is, or will be, Fully Data Capable, including, without limitation: (i) minutes, resolutions and reports to and from Lessee's governing body or committee thereof, (H) internally generated reports, consultant reports or auditor's report regarding the status of Lessee's Date Affected Information Technology, (Hi) all documents relating to a "Year 2000" program, and (iv) certificates or other statements requested by Lessor regarding status of Date Affected Information Technology. Lessee acknowledges that Lessor's right to receive, and/or Lessor's receipt of, the foregoing information does not impose any obligation on Lessor to assess the accuracy or effect of such information, or to recommend or require remedial action of any kind. Section 6.3. Tax Related Representations. Warranties and Covenants. If Lessor either (i) receives notice, in any form, from the Internal Revenue Service or (ii) reasonably determines, based on an opinion of independent tax counsel selected by Lessor, that Lessor may not exclude any Interest paid under any Lease from its Federal gross income (each an "Event of Taxability"), Lessee shall pay to Lessor upon demand (x) an amount which, with respect to Rental Payments previously paid and taking into account all penalties, fines, interest and additions to tax (including all federal, state and local taxes imposed on the interest due through the date of such event), will restore to Lessor its after-tax yield (assuming tax at the highest marginal tax rate and taking into account the time of receipt of Rental Payments and reinvestment at the after-tax yield rate) on the transaction evidenced by such Lease through the date of such event and (y) as additional Rental Payments to Lessor on each succeeding Payment Date such amount as will maintain such aft,er-tax yield to Lessor. ARTICLE VII. INSURANCE AND RISK OF LOSS Section 7.1. Liability and Property Insurance. Lessee shall, at its own expense, procure and maintain continuously in effect during each Lease Term: (a) public liability insurance for death or injuries to persons, or damage to property arising out of or in any way connected to the Equipment sufficient to protect Lessor and/or assigns from liability in all events, with a coverage of not less than $1,000,000 per occurrence unless specified differently in the related Equipment Schedule, and (b) insurance against such hazards as Lessor may require, including, but not limited to, all-risk casualty and property insurance, in an amount equal to the greater of the full replacement cost of the Equipment or the applicable Prepayment Price. Section 7.2. Workers' Compensation Insurance. If required by State law, Lessee shall carry workers' compensation insurance covering all employees on, in, near or about the Equipment, and upon request, shall furnish to Lessor certificates evidencing such coverage throughout the Lease Term. -8-