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Amendment to Master Lease Purchase Agreement - Hewlett Packard Financial Services Company (2)
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Amendment to Master Lease Purchase Agreement - Hewlett Packard Financial Services Company (2)
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3/28/2025 11:57:57 AM
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Board of Public Works
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Contracts
Document Date
12/22/2016
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Amendment to State and Local Government Master Lease Purchase Agreement Schedule <br />Lease No. 5245088229 <br />Schedule No. 524509822900014 <br />Lessee: City of South Bend, Indiana <br />Lessor: Hewlett-Packard Financial Services Company <br />Address <br />227 W. Jefferson, Suite 1200, <br />Address <br />200 Connell Drive, Suite 500 <br />City/State/Zip <br />South Bend, IN 46601 <br />City/State/Zip <br />Berkeley Heights, NJ 07922 <br />Attention: Sue Gerlach <br />Attn: Marc Lozandier <br />Lessor and Lessee hereby amend, as specified below, the State and Local Government Master Lease Purchase Agreement <br />Schedule (the "Schedule") identified by a Schedule Number specified above that incorporates the State and Local Government Master <br />Lease Purchase Agreement (the "Agreement") referenced by the Lease Number specified above. Capitalized terns used in this <br />Amendment that are not otherwise defined herein shall have the meanings ascribed to them in the Schedule. <br />1. Add the following new Section to the Schedule: <br />119. TECHNOLOGY REFRESH WITH NEW FINANCING OPTION. (a) If (i) Lessor and Lessee have entered into <br />an additional lease ("New Equipment Schedule") for new equipment ("New Equipment") that Lessor determines is <br />comparable in terms of type and quality to the original Equipment ("Original Equipment") subject to this Schedule <br />("Original Equipment Schedule"), (A) the Term of the New Equipment Schedule is equal in length to the full Term of the <br />Original Equipment Schedule, (iii) no Event of Default exists and no event has occurred and is continuing that with <br />notice or the lapse of time or both would constitute an Event of Default, and (iv) Lessee delivers to Lessor an <br />irrevocable written election notice of its intent to return the Original Equipment pursuant to the terms of this <br />Section at least 15 months prior to the end of the Term of the Original Equipment Schedule, Lessee may, <br />effective on the date which is 12 months prior to the end of the Term of the Original Equipment Schedule (the <br />"Technology Refresh Date") terminate the Original Equipment Schedule with respect to all, but not less than all, of the <br />Original Equipment ("Technology Refiresh"). <br />(b) If Lessee elects a Technology Refresh, on or before the applicable Technology Refresh Date, Lessee shall (i) pay <br />Lessor an amount equal to any and all Rent and other amounts then past due and owing under the Original Equipment <br />Schedule and (ii) return all, but not less than all, of the Original Equipment to Lessor in accordance with Section 10 of <br />the Agreement. If Lessee fails to pay Lessor all Rent payments and other amounts or return all such Original Equipment <br />to Lessor in accordance with the preceding sentence, the Original Equipment Schedule shall not terminate with respect to <br />any item of the Original Equipment and Lessee shall continue to pay Lessor the Rent payments and all other provisions of <br />the Agreement and the Original Equipment Schedule shall continue to apply. <br />(c) If Lessee elects a Technology Refresh and has completely fulfilled the terms and conditions of the Agreement and <br />this Amendment, then on the Technology Refresh Date the Original Equipment Schedule shall terminate and, except as <br />provided in Section 28 of the Agreement, Lessee shall be relieved of all obligations under the Original Equipment <br />Schedule." <br />Lessor and Lessee hereby make this Amendment an integral part of the Schedule. <br />CITY OF SOUTH BEND, INDIANA HEWLETT-PAC%ARD FINANCIAL SERVICES COMPANY <br />By: APPROVED By: <br />(Lessee Autlroiize`d[ grPa hhc Works (Lessor Authorized Signature) <br />(Type/Print Nat 1 Ilu <br />l <br />(Type/Print Name) <br />(Title) <br />(Date) <br />Page 1 of 1 <br />Tech R&.hA ,e &1em(10-07-M) <br />
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