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Agmt 2005 Banc of America Leasing & Capital LLC
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Agmt 2005 Banc of America Leasing & Capital LLC
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8/5/2009 3:45:53 PM
Creation date
7/30/2009 11:00:04 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
5/2/2005
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PERM
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Reso 2005-050
(Approved by)
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\City Clerk\City Council\Resolutions\2005
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°Escrow Agent° means the Escrow Agent identified in any Escrow Agreement, and <br />its successors and assigns. <br />~Acguisition Period" means, with respect to each Lease, that period stated in the <br />Schedule to such Lease during which the Lease Proceeds attributable to such Lease may be <br />expended on Equipment Costs. <br />°Agreement" means this Master Equipment Lease/Purchase Agreement, including <br />the exhibits hereto, together with any amendments and modifications to the Agreement <br />pursuant to Section 13.05. <br />~Code° means the Internal Revenue Code of 1986, as amended. Each reference to a <br />Section of the Code herein shall be deemed to include the United States Treasury <br />Regulations proposed or in effect thereunder. <br />°Commencement Date" means, for each Lease, the date when Lessee's obligation to <br />pay rent commences under such Lease, which date shall be the earlier of (i) the date on <br />which the Equipment listed in such Lease is accepted by Lessee in the manner described in <br />Section 5.01, and (ii) the date on which sufficient moneys to purchase the Equipment listed <br />in such Lease are deposited for that purpose with an Escrow Agent. <br />"Equipment" means the property listed in each of the Leases and all replacements, <br />repairs, restorations, modifications and improvements thereof or thereto made pursuant to <br />Section 8.01 or Article V. Whenever reference is made in this Agreement to Equipment <br />listed in a Lease, such reference shall be deemed to include all such replacements, repairs, <br />restorations, modifications and improvements of or to such Equipment. <br />°Equipment Costs" means the total cost of the Equipment listed in each Lease, <br />including all delivery charges, installation charges, capitalizable consulting and training fees <br />approved by Lessor, legal fees, financing costs, and other costs necessary to vest full, clear <br />legal title to the Equipment in Lessee, subject to the security interest granted to and <br />retained by Lessor as set forth in each Lease, and otherwise incurred in connection with <br />the financing provided by the lease-purchase of the Equipment as provided in each Lease; <br />provided that in no event shall approved consulting and training fees or other non- <br />capitalizable "soft" costs relating to the Equipment listed in any Lease which are to be <br />financed by Lessor hereunder exceed 2% of the total cost of such Equipment as <br />determined by Lessor; and provided further, that in no event shall capitalizable delivery <br />charges, installation charges, taxes and similar capitalizable "soft costs" relating to such <br />Equipment be included without Lessor's prior consent. <br />Event of Defaults means an Event of Default described in Section 12.01. <br />4Lease° means a Schedule and the terms of this Agreement which are incorporated <br />by reference into such Schedule. Each Schedule shall constitute a separate and <br />independent Lease. <br />#219845v12A [Gov't Entity Master Lease) 2 <br />
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