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6B(3)
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05-15-15 Redevelopment Commission Meeting
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6B(3)
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Purchase Price"). Upon Lessee's payment in full of the Option Purchase Price to Lessor, title to <br /> the Equipment shall pass to Lessee, and Lessor shall execute such bills of sale, assignments and <br /> other instruments and documents necessary to transfer title to the Equipment to Lessee. <br /> 10. Obligation to Purchase Equipment. Notwithstanding the provisions contained in Section <br /> 9, in the event that (i) Lessee breaches its obligations under Section 3.02 or Section 3.03 of the <br /> Agreement (regarding Lessee's obligations with respect to establishing its South Bend <br /> Warehouse and the creation of specified jobs and investment in space and equipment) and fails <br /> to cure such breach in accordance with Section 5.03 of the Agreement or(ii) an Event of Default <br /> occurs hereunder, Lessee shall be obligated to promptly, within fifteen (15) days, purchase the <br /> Equipment for a cash purchase price equal to one and one half (1.5) times the amount Lessor <br /> originally paid for the Equipment (the "Equipment Purchase Price"). Upon Lessee's payment <br /> in full of the Equipment Purchase Price to Lessor,title to the Equipment shall pass to Lessee,and <br /> Lessor shall execute such bills of sale, assignments and other instruments and documents <br /> necessary to transfer title to the Equipment to Lessee. Lessee acknowledges and agrees that <br /> Lessee's conditional obligation to purchase the Equipment for the Equipment Purchase Price, as <br /> set forth in this Section 10, is a material inducement for Lessor to enter into this Lease upon the <br /> terms provided herein, including,without limitation,the heavily discounted amount of the Rental <br /> Payment. <br /> 11. Taxes and Other Charges. All taxes, assessments, license fees, and other charges <br /> (including, without limitation, personal property taxes and sales, use and leasing taxes) imposed, <br /> levied or assessed on or with respect to the ownership, possession, rental,operation or use of the <br /> Equipment during the Term shall be paid by Lessee before the same shall become delinquent, <br /> whether such taxes would ordinarily be assessed against Lessor or Lessee. If Lessee fails to make <br /> such payments,then Lessor may, in its discretion, and in addition to all other remedies available <br /> to it under this Agreement or by law, pay the same and seek full reimbursement from <br /> Lessee plus costs and interest at the Default Rate. <br /> 12. Indemnification; Limitation of Liability. <br /> (a) Indemnification by Lessee. Lessee agrees to indemnify, defend and hold harmless <br /> Lessor from and against any claims, damages, losses or expenses (including reasonable <br /> attorney's fees) ("Losses") by third parties arising out of, connected with, occurring by virtue <br /> of or relating in any way to the installation, possession, operation or use of the Equipment; <br /> provided however, that Lessee shall not be obligated to indemnify Lessor for Losses caused by <br /> Lessor's grossly negligent or willful misconduct in servicing or maintaining the Equipment. This <br /> indemnity shall not be affected or terminated by, and shall survive,termination of this Lease, for <br /> any reason, with respect to all or any part of the Equipment. <br /> (b) Indemnification by Lessor. Lessor agrees to assign to Lessee any indemnification rights it <br /> was provided by the manufacturer of any item of the Equipment related to any claims, losses or <br /> expenses arising out of or relating to: <br /> (I) any claim that the Equipment infringes, violates, or misappropriates the intellectual <br /> property rights of any third party; and/or <br />
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