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that may lawfully be paid in installments over a period of years, Lessee shall be obligated to pay
<br />only such installments as accrue during the Lease Term. Lessee shall not be required to pay any
<br />federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross
<br />receipts, profit, excess profit, capital stock, corporate, or similar tax payable by Lessor, its
<br />successors or assigns, unless such tax is made in lieu of or as a substitute for any tax, assessment
<br />or charge which is the obligation of Lessee under this Section.
<br /> Section 7.02. Insurance. Lessee shall during the Lease Term maintain or cause to be
<br />maintained (a) casualty insurance naming Lessor and its assigns as loss payee and additional
<br />insured and insuring the Equipment against loss or damage by fire and all other risks covered by
<br />the standard extended coverage endorsement then in use in the State, and any other risks
<br />reasonably required by Lessor, in an amount at least equal to the greater of (i) the then applicable
<br />Prepayment Price of the Equipment or (ii) the replacement cost of the Equipment; (b) liability
<br />insurance naming Lessor and its assigns as additional insured that protects Lessor from liability
<br />with limits of at least $1,000,000 per occurrence/$3,000,000 in the aggregate for bodily injury
<br />and property damage coverage, and excess liability umbrella coverage of at least $5,000,000, and
<br />in all events in form and amount satisfactory to Lessor; and (c) worker’s compensation coverage
<br />as required by the laws of the State; provided that, with Lessor’s prior written consent, Lessee
<br />may self-insure against the risks described in clauses (a) and/or (b). In the event Lessee is
<br />permitted, at Lessor’s sole discretion, to self-insure as provided in this Section, Lessee shall
<br />provide to Lessor a self-insurance letter in substantially the form attached hereto as Exhibit F.
<br />Lessee shall furnish to Lessor evidence of such insurance or self-insurance coverage throughout
<br />the Lease Term. Lessee shall not cancel or modify such insurance or self-insurance coverage in
<br />any way that would affect the interests of Lessor without first giving written notice thereof to
<br />Lessor at least 30 days in advance of such cancellation or modification.
<br /> Section 7.03. Risk of Loss. Whether or not covered by insurance or self-insurance, Lessee
<br />hereby assumes all risk of loss of, or damage to and liability related to injury or damage to any
<br />persons or property arising from the Equipment from any cause whatsoever, and no such loss of
<br />or damage to or liability arising from the Equipment shall relieve Lessee of the obligation to
<br />make the Rental Payments or to perform any other obligation under this Agreement. Whether or
<br />not covered by insurance or self-insurance, Lessee hereby agrees to reimburse Lessor (to the
<br />fullest extent permitted by applicable law, but only from legally available funds for any and all
<br />liabilities, obligations, losses, costs, claims, taxes or damages suffered or incurred by Lessor,
<br />regardless of the cause thereof and all expenses incurred in connection therewith (including,
<br />without limitation, counsel fees and expenses, and penalties connected therewith imposed on
<br />interest received) arising out of or as a result of (a) entering into of this Agreement or any of the
<br />transactions contemplated hereby (except to the extent caused by Lessor’s own gross negligence
<br />or willful misconduct), (b) the ordering, acquisition, ownership use, operation, condition,
<br />purchase, delivery, acceptance, rejection, storage or return of any item of the Equipment, (c) any
<br />accident in connection with the operation, use, condition, possession, storage or return of any
<br />item of the Equipment resulting in damage to property or injury to or death to any person, and/or
<br />(d) the breach of any covenant of Lessee under or in connection with this Agreement or any
<br />material misrepresentation provided by Lessee under or in connection with this Agreement. The
<br />provisions of this paragraph shall continue in full force and effect notwithstanding the full
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