Laserfiche WebLink
regulation or ruling in any reasonable manner that does not, in the opinion of Lessor, adversely <br />affect the interest of Lessor in and to the Equipment or its interest or rights hereunder. <br />Lessee agrees that it will (a) maintain, preserve, and keep the Equipment in good repair <br />and working order, in a condition comparable to that recommended by the manufacturer; and <br />(b) replace or rebuild any component of the Equipment that becomes permanently unfit for <br />normal use or inoperable during the Lease Term (herein, the “Inoperable Component”) in order <br />to keep the Equipment as a whole in good repair and working order during the Lease Term. <br />Lessee shall promptly notify Lessor in writing when any component of the Equipment is <br />reasonably expected within forty-five (45) days to become an Inoperable Component. Lessee <br />shall promptly replace or rebuild the Inoperable Component with a similar component of <br />comparable or improved make and model that has at least the equivalent value and utility of the <br />Inoperable Component, a remaining useful life of no less than the remaining Scheduled Term <br />and such replacement or rebuilt component shall be in good operating condition. Lessor shall <br />have no responsibility to maintain, repair or make improvements or additions to the Equipment. <br />In all cases, Lessee agrees to pay any costs necessary for the manufacturer to re-certify the <br />Equipment as eligible for manufacturer’s maintenance upon the return of the Equipment to <br />Lessor as provided for in Section 3.03 or 12.02(b). <br />Lessee shall not alter any item of Equipment or install any accessory, equipment or <br />device on an item of Equipment if that would impair any applicable warranty, the originally <br />intended function or the value of that Equipment. All repairs, parts, accessories, equipment and <br />devices furnished, affixed to or installed on any Equipment, excluding temporary replacements, <br />shall thereupon become subject to the security interest of Lessor. <br />ARTICLE VI <br /> Section 6.01. Title to the Equipment. During the Lease Term, and so long as Lessee is not <br />in default under Article XII hereof, all right, title and interest in and to each item of the <br />Equipment shall be vested in Lessee immediately upon its acceptance of each item of <br />Equipment, subject to the terms and conditions hereof. Lessee shall at all times protect and <br />defend, at its own cost and expense, its title in and to the Equipment from and against all claims, <br />liens and legal processes of its creditors, and keep all Equipment free and clear of all such <br />claims, liens and processes. Upon the occurrence of an Event of Default or upon termination of <br />this Agreement pursuant to Section 3.03, full and unencumbered legal title to the Equipment <br />shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In <br />addition, upon the occurrence of such an Event of Default or such termination, Lessee shall <br />execute and deliver to Lessor such documents as Lessor may request to evidence the passage of <br />such legal title to Lessor and the termination of Lessee’s interest therein, and upon request by <br />Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or <br />Section 12.02, as applicable. Upon payment of all amounts due and owing hereunder by Lessee <br />pursuant to Section 10.01, Lessor’s security interest or other interest in the Equipment shall <br />terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request <br />to evidence the termination of Lessor’s security interest in the Equipment. <br />168