Preview
FILED: NEW YORK COUNTY CLERK 09/06/2022 07:01 PM INDEX NO. 157573/2022
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 09/06/2022
Exhibit A
FILED: NEW YORK COUNTY CLERK 09/06/2022 07:01 PM INDEX NO. 157573/2022
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 09/06/2022
EQUiPMENT FINANCE AGREEMENT Agreement# 1390001.301
THIS EQUIPMENTFINANCE AGREEMENT FAgreemenn IS SUBJECT TO THE TERMS AND CONDITIONS PRINTED HEREON AND ON THE FOLLOWING PAGES.
3Ci-iEDULES. AND ADDENDUEIS ALL OF V4licli
ARE MAGE A PART liEREGF AND V4:1Cii CUSTOMER ACKNCV.LEGGCG:iAVING READ PLEASE READ
PaymentDue Date Due date is dependent upon when funds are released to vour vendor to cornmeacethe contract !! em N
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AcceptanceDate and First Payment Date) = Total Pro rata payrnentis bil ed on your first invoice
"!E!S..*!0r! C . !CEL E CO"MERC ^.'. ACREE"E*'T cCR E !M C. TEn
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CABLE INFRASTRUCTURE MAINTENANCE CORP |FinancialPacific
Leasing, Inc
IN CONSIDERATION OF SFr.IIRFOPARTY FNTFRING INTO THIS AGREEMENT THE UNDERSIGNED (ŽOU") UNCONDITIONALLY AND IRREVOCABLY
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WARRANTIES, EXPRESS OR IMPLIEO. INCLUDING WARRANTIES OF MERCHANTABILI'fY OR FITNESS FOR A PARTICULAR PURPOSE, QUALITY, DESIGN,
CONDITION. CAPACITY. SUITABILITY. PERFORMANCE. MATERIAL OR WORKMANSHIP. PATENT INFRINGMENT. OR OTI·ERWISE. YOU AGREE THAT
REGARDLESSOF CAUSE WE ARE NOT LIASLE FOR ANY LOSS OR INJURY TO YOU OR ANY THIRD PERSON OR PROPERTY, INCLUDNG DIRECT, INDIRECT,
CONSEQUENTIAL.INCIDENTAL OR SPECIAL DAMAGES OR SETOFF AND YOU WILL NOT MAKE ANY SUCH CLAIM AGAINST US. YOU AGREE TO BEAR ALL
RISK OF LOSS ASSOCIATED WITH THE EQUIPMENT AND YOU AGREE THAT YOUR OBLIGATIONS UNDER THIS AGREEMENT ARE ABSOLUTE AND
FILED: NEW YORK COUNTY CLERK 09/06/2022 07:01 PM INDEX NO. 157573/2022
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 09/06/2022
Equipment shall remain personal property even if installed in or affixed to real
haveunder any industrialinsurancelaw.
M. DEFAULTANO REMEDIES.Each of the followingwill cause you to be in defauM:
property. You acknowledgethat you have selected the Equipmentand supplierand
that we have not participatedin any way with your selection. You acknowledgethat
(a) you fail lo pay any amount due under this Agreementwhen due; (b) you fail to
we are not affiliatedwilb the suppheror manufacturerof the Equipmentand no agent
performor observe any covenant,condition. or obligationslated in this Agreementor
any other agreementwith us, (c) you becorne insolvent,you assign your assets for
of the supplier or manufaclurer is authorized 10 alter this Agreement or act on our
behalf. the benefit of creditors. or you voluntarily or involuntarilybecome the subject of a
3. TERM. The initial term la set forth on the first page of this Agreement.The start
bankruptcyor reorganization proceeding;(d) any guarantorof this Agreement dies.
date of the initial tenn shall be on the Acceptance Date. The term shall end on the
falls to performits obligationsas a guarantor.or becomessubjectto one of the events
earlier of the folfowing. (a} your full performance of each obligation set forth in this
listed in (c) above: or (d) we, in good faith. deem ourselvesinsecureas a result.of a
Agreement. including schedules and amendments; or (b) when we terminate this
material adverse change in your financial condition or otherwise.If you are ever in
Agreementin accordwith its terms. default,we may elect one or more of the following remedieswith or without notice to
4. PAYMENT;SECURITYDEPOSIT.You will make all payments requiredunder Ihis
you: (1) retain your deposit and all payments made by you; (2) terminate this
Agreementwhen due to us at the address we designate. Paymentsshall commence
Agreement and any other agreetmentswe
have with you; (3) require you
to
on the Due Date indicated above imrnediately following the start date of the initial
immediatelypay us a sum equal to all unpaid payments for the remainderof this
1erm,You agree to make a pro rata payment for the period betweenthe start date of due or
Agreement, plus all other amountstobecome due the
during term ofthis
the initiaf term and the due date of the first full payment If we do not receive a
Agreement;(4) require you to prornptlyreturn the Equipmentto us at your expense;
paymentwhen due, you will be charged a late fee of 10% of the totai due or $10,
(5)enter
your withoui
property couri
orderor and
surety youwaiveafi claimaagainst
whicheverin greater, and an additional late fee will be charged for each month a
us including for trespass or damage and foreclose on. repossess, or render the
paymentremainsunpaid You agree that this late fee is a reasonableestimateof the
Equipmentunusable:or (6) exercise any other remedyavailableunderapplicablelaw,
expense we will incur as a result of a late payment and is not a penalty. You also
If we are required to discount any sum payable by you under this Agreernent,you
agree to pay a charge for each check or ACH retumed or dishonored.AII arnounts
agreethat the discountrate used shattbe 5% per annum.if we take possessionof the
past due undef this Agreementwill bear interest at t5% Equipment,we may selt or otherwise dispose of it upon notice required by law at a
per month or the maximum
lawful rate if less. Any security deposit we require shall secure performanceof all of
public or private sale and apply the not proceeds after deducting all costs and
your obligationsunder this Agreement. In the event you default, we may apply the
expense (includingat10meyfees) relatedto collectionand dispositionto the amounts
security deposir, in which case you agree to restore the security deposit upon 15
days'
you owe us. You will remain responsiblefor any amount due after we have applied
the net proceeds.You agree that if notice of dispositionis required by law, 10 days'
writtennotice. You agree that we (nay corningle Ihe security deposit with other
funds and that you wiHnot be paid any interest on the security deposit.At 1heend of may bid and purchase Ihe Equipment as
notice is reasonable. You agree we
the term of this Agreement. inedudingany extension or renewal, provided you have
permitted by law. You agree that all remediesare cumulativeand not exclusiveand
performedyour
fully obligationsunder this Agreement, we will return the balance of
you will be responsiblefor ell costs and disbursementsincurredin Ihe enforcementof
the securitydepositto you our remedies. including attomey fees and costs, whether or not suit becornes
5. EQUIPMENTLOCAYlON,USE, AND REPAIR. You will keep the Equpment at the
necessary. including those incurred in connection with an appeal or bankruptcy
location designated in this Agreement absent our advance writlan approval. You
proceeding.plus costs incurredin Equipmentrepossession,redelivery.storage,and
agree that we may inspect the Equipment upon squest repair. and such olber charges as are assessed in accordancewith our collection
during normal business
hours. You warrantthat the Equipmentis for commercial purposes only and not for
chargeschedule.If we delay or fail 10enforce any of our rightsUnderthis Agreement.
consumer,personal.or householdpurposes You agree that we have no obligations
we will stiHbe entitledto enforcethoserights at a later time.
to repair.rnaintainor replace the Equipment you agree to maintainthe Equipmentin
12. ASSIGNMENT. YOU HAVE NO RIGHT TO SELL, PLEDGE, SUBLEASE,
proper workingorder and to bear all expense required. You agree that the Equipment TRANSFER. OR
ASSIGN ANY RIGHTS IN THE EQUIPMENT OR THIS
will only be used for its intended use. in accord with any insurance policy and
AGREEMENT WITHOUT OUR PRIOR WRITTEN CONSENT. We may assign,
manufacturer'swarrantycovering the Equipment, and in compliancewith all laws and
pledge or Iransfer any of our rights hereunder without notice, You agree that if we
regulationsrelatedto its ownership,use and maintenance assign. pledge or transfer any of our rights. the assigneewill have the same rights
6. TITUNG. If requested by us. you agree to cause any Equipmentsubject to title
and benefitswe had but none of our obligationsand will not be subjectto any e1aim.
registrationlaws to be titled as we direct, You shall advise us promptly as to any
defense. or setoff you may have against us. Followingany assignment,the terms
andyou shall
provide
us with
all
documentsoftitle within sixty (60) "our" shaji be deernedto includeor refer to the assignee.
necessaryreti$ng "we","us". and
daysof the date on any titling effected by you. 13. INFORMATION: CREDIT REPORTS. YOU AUTHORIZE US AND OUR
7. TAXES AND FEES, You agree to pay. when due, all taxes and fees relating to the
ASSIGNEESTO OBTAIN CREDIT REPORTS AND MAKE CREDIT INQUIRIESAS
use. ownership.or possessionof the Equipmentand all related interestand penalties
WE DEEM NECESSARY.We will inform you upon request if we have sought a
and to pay all other obtigationswhich may encumber the Equipment.and provide us
consumercredit report and the name and addressof any credit reportingagency that
with writtenproofof paymenton request. provideda report.You agree that we may requestand use additionalcreditreports lo
8. RISK OF LOSS. You are responsible for any loss, thefl of. or damage to. the
updateour inforrnationwithout furiber notice lo you as long as you have obligations
Equipmentfrom ar+ycause ("Loss'') regardlessof whether the Lossis insured.A Loss
under this Agreement, Upon our request, you agree to provide us with sistements
wiUnot relieveyou of your paymentobligations under this Agreement.In the event of
setting forth your financial condition and operations.You warrant that aiI information
a Loss,you shall promptlynotify us and place the Equipmentin good repair.condition
you have and will deliver to us. including the informationin this Agreement,is true,
arid working order; provided, however, if we deterrnine Ihe Equipmentis lost, stolert
accurateand correctand you acknowledgethat we are relyingon suchinformationto
destroyed,damagedbeyondrepair. or is a constructivetotal ioss under an insurance
enter into thisAgreement.
policy. you
shell pay
us the remaining payments due 14. UMtTED AMENDMENTS.You aulhorize us to amend this Agreementwithout
under this Agreement
discounted to present value at a discount rate of 5% as of the date of Loss as
noticeto you if it is necessary to supply missing inforrnation,correctobviouserrors, or
determined by us. plus ali other amounts due to us under this Agreementas of the
reffect a change in the following: (a) the description of the Equipment,(b) the
date of Loss. applicablesafestax rate. or (c) a change in the amountfinanced,not to exceed $10
9. INSURANCE. You agree toobtain andmaintain at or 10%per payment.whicheveris greater,
your expense property
insurancefor the full replacementvalua of the Equipment, protectmgthe Equiprnent
15. LAW; JURISDICTION.ALL MATTERSRELATEDTO THtS AGREEMENTARE
against Loss.and liability insurance, in an amount acceptable to us. but in no event
GOVERNED BY THE LAWS OF THE STATE OF WASHiNGTONAND YOU
less than $500.000covering any injury. death or third-party property damage arising
CONSENT TO THE JURISOICTIONOF ANY STATE OR FEDERAL COURT IN
out of or relating to use of the Equipment Efthe Equipment must be litled under tide
WASHINGTON.YOU AGREE THAT AT OUR SOLE OPTION THE VENUE FOR
registration laws ("Mobile") then you
shall obtain and mainlain all risk physical
ANY ACTIONARLSINGOUT OF OR RELATEDTO THiS AGREEMENTSHALL BE
damage Insurance.All insurance policies must pmvide that no cancellationshall be
IN KINGCOUNTY,WASHINGTON.YOUAGREETHATWE HAVETHE OPTIONOF
days'
effectivewithout thirty (30)
prior written notice to us. At our request,you agree
COMMENCINGAN ACTION IN ANY COURT HAVINGJURISDICTIONOVER THE
to r1ameany party who may have a security interest in Ihe Equipment as Lander's
SUBJECT MATTER AND PARTIES. EACH PARTY WAIVES ANY RIGHT TO A
Loss Payee.You agree to provide proof of insurance to us upon request.You hereby
JURYTRIALAND THE DEFENSEOF INCONVENiENTFORUM.
grant us a fimitedpowerof attorneyallowing us to make a claim for. receivepayment
16 NOTICES.Noticesshall be in writing and may be delivered by regufarU.S. mail
on, and endorseor execule for our benefit any instrument representingproceedsfrom
poslage prepaid,at the respectiveaddressessel Iorth aboveor at suchotheraddress
any policy issued on the Equipment. IF YOU
FAIL TOPROVIDE PROOF OF as a party may provide by written notice. Notice shall be effectivewhen depositedin
INSURANCE ACCEPTABLE TO US. WE HAVE THE RIGHT BUT NOT THE the mail.You agreeto promptlynoliry us of any changeto your address.
OBLIGATIONTO SECURE INSURANCE IN SUCH FORM AND AMOUNT AS WE 17. COUNTERPARTS. This Agreement andany documerit pertaining to
this
DEEM NECESSARYAND YOU AGREE THAT IN ADDITION TO INSURANCE Agreement may be executedin counterpartsand Ihe electronicIransmissionof such
PREMlUMSWE MAY CHARGE YOU 1NTERESTAT L5% PER MONTH AND0R documenishallhave the sameIorce and effectas delNery of an originet
AN ADMINISTRATIVEFEE WHICH MAY RESULT IN A PROFIT TO US. YOU 18. MISCELLANEOUS.This Agreement represents the entire agreementbetween
UNDERSTANDTHAT IF WE PROCUREtNSURANCEYOU MAY PAY MORETHAN you and us regarding the Equipment This Agreementand any amendmentto it are
IF YOU HAD PROCURED1NSURANCEAND THE INSURANCEMAY NOT NAME not binding until signed by both parties. unlessotherwiseprovidedherein.The waiver
YOU AS AN INSUREDAND MAY NOT FULLY PROTECTYOU IN THE EVENTOF of any terms or conditionsof this Agreementmust be in writing and signed by us. If
A LOSS. YOU AGREE THAT DISPUTES REGARDING iNSURANCE OR FEES rnore than one customer has signed this Agreement,each of you agree that your
CHARGED FOR PROCURiNG INSURANCE Will BE DETERMINED BY tiability is joint and several. By signing Ihis Agreement. you acknowledgethat you
ARBITRATIONCONDUCTED fN SEATTLE. WASHINGTON UNDER THE RULES haveread and understandits terms and Conditionsand you are authorizedto bindthe
OF THEAMERICANARBITRATIONASSOCIATION. Customerto the obligationssel forth in this Agreement.If any part of this Agreement
10, INDEMNIFICATION.You are responsiblefor and agree to indemnify,defend,and
is found to be invalid, then such part shali be conskieredseverableand inapplicable
hold harmless us and our officers, directors. shareholders, employees,and agents
but shall not invalidate the remainder of
the Agreement. You authortre us to
from and against any
losses, damages, claims.
penalties, suits, actions. and
communicatewith you through electronic means. Time is of the essence of this
expenses, includingattorneyfees, arising out of or relatedto the Equipment,whether
Agreernent.AII of our rights under this Agreement shag sunrive its termination or
based ori a theory of strict liability or otherwise. Your duties under this section shall
expiration, ORAL AGREEMENT OR ORAL COMMITMENTSTO LOAN MONEY,
survivetermMationor expirationof this Agreernent You waive any immunityyou may
EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENTOF A
DESTARE NOTENFORCEABLEUNDERWASHINGTONLAW.
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PacificLeasing,Inc.ts a subsi0tayof UmmuaBan | Products
o%tedby financialPaciGC
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Apps75Mo2.Ge20ssa.EFA Page 2 of 2 Page Agreement