- 18 -
17. Indemnification
17.1 Lessee will indemnify Lessor and protect,
defend and hold him harmless from and against any and
all loss, cost, damage, injury or expenses, including,
without limitation, reasonable attorneys' fees,
wheresoever and howsoever arising which Lessor, or any
of his agents or employees, may incur by reason of any
breach by Lessee of any of the representations by, or
obligations of, Lessee contained in this Lease or in
any way relating to or arising out of this Lease, the
Equipment or Underlying Leases; * * *
By a reference to the petitioner telecommunications purchase
agreement, the term "Underlying Leases" is defined to be the U.S.
Telephone lease.
Marketing Agreement
Pursuant to a "Remarketing Option" between petitioner and
RTS dated December 30, 1982, RTS agreed, at petitioner's option,
to act as petitioner's agent to remarket the telecommunications
equipment as and when the RTS lease expired.
Payment History
Until September 1983, RTS' payments of rent to petitioner
pursuant to the RTS lease, petitioner's payments to Proz pursuant
to the petitioner telecommunications installment note, and Proz'
payments to RTS pursuant to the Proz telecommunications
installment note (together the telecommunications payments) were
made by check. The telecommunications payments were not always
timely. For example, neither petitioner, Proz, nor RTS made any
payment due for January through July 1983 until December 1983.
Page: Previous 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 NextLast modified: May 25, 2011