the rent described in (a) above, Lessee shall pay
to Lessor upon execution of each Lease, an upfront fee equal to 0.25% of the
principal amount financed by each Lease, as well as any other filing and
recording fees related to the origination of each loan underlying the purchase
and lease of Equipment under the Lease.
(c)
For interest accruing on monies advanced during the Interim
Period, Lessee shall pay Lessor interim rent at the daily interest rate set
forth in the applicable Schedule A.
(d)
Lessee's obligation to pay rent to Lessor shall be irrevocable and
independent, and is not subject to cancellation, termination, modification,
repudiation, excuse, or substitution without the express written consent of
Lessor, which consent may be withheld in its sole discretion.
(e)
All payments of rent shall be made at the address set forth above,
or at such other place as Lessor may designate in writing.
In the event Lessee
fails to pay rent within ten (10) days of its due date, it shall pay a late
charge equal to five percent (5%) of that payment, but not less than $5.00 (or
if a lesser amount is required by law, such lesser amount) and following
Lessor's delivery of written notice of default to Lessee with ten (10) days
opportunity to cure, Lessee shall pay interest on the amount of each such
delinquent payment at the rate of 18% per annum (or if a lesser amount is
required by law, such lesser amount) until paid.
Such interest calculations
shall be computed for the actual number of days elapsed between the date such
payment was due and the date such payment is actually received by Lessor.
(f)
PROVIDED THAT LESSOR PURCHASES THE EQUIPMENT, THE LEASE IS A NET
LEASE AND LESSEE ACKNOWLEDGES AND AGREES THAT LESSEE'S OBLIGATION TO PAY ALL
RENT AND ALL OTHER AMOUNTS REQUIRED HEREUNDER AND TO THE EXTENT SET FORTH HEREIN
AND IN THE SCHEDULE A AND THE RIGHTS OF LESSOR IN AND TO SUCH RENTALS AND SUCH
OTHER AMOUNTS SHALL BE ABSOLUTE AND UNCONDITIONAL, AND SHALL NOT BE AFFECTED BY
OR SUBJECT TO ANY CIRCUMSTANCE, INCLUDING, WITHOUT LIMITATION, (A) ANY SETOFF,
COUNTERCLAIM, ABATEMENT, RECOUPMENT, REDUCTION, DEFENSE, OR OTHER RIGHTS OF
LESSEE OR THE MANUFACTURER OR SUPPLIER OF THE EQUIPMENT FOR ANY REASON
WHATSOEVER, (B) ANY DEFECT IN DESIGN, CONDITION, OPERATION, FITNESS FOR PURPOSE
OR USE OF, OR ANY DAMAGE TO OR LOSS OR DESTRUCTION OF, THE EQUIPMENT OR ANY
INTERRUPTION OR CESSATION IN THE USE OR THE POSSESSION THEREOF BY LESSEE FOR ANY
REASON WHATSOEVER, (C) ANY INSOLVENCY, BANKRUPTCY, REORGANIZATION OR SIMILAR
PROCEEDING BY OR AGAINST LESSEE OR LESSOR, OR (D) ANY OTHER CIRCUMSTANCE,
HAPPENING OR EVENT WHATSOEVER, WHETHER OR NOT SIMILAR TO THE FOREGOING INCLUDING
WITHOUT LIMITATION, THE INVALIDITY, LACK OF ENFORCEABILITY OR DUE AUTHORIZATION
OF THE LEASE OR ANY PROVISION HEREOF, OR THE EXISTENCE OF ANY MORTGAGES, LIENS
(WHICH TERM THROUGHOUT THE LEASE SHALL INCLUDE, WITHOUT LIMITATION, SECURITY
INTERESTS), CHARGES, ENCUMBRANCES OR CLAIMS OR RIGHTS OF OTHERS WHATSOEVER WITH
RESPECT TO