TERMINATION VALUE

The liability of the lessee in the event of termination is set forth in a termination schedule that values the equipment at various times during the lease term. This value is designed to protect the lessor from loss of investment. If the equipment is sold at a price lower than the amount set forth in the schedule- the lessee pays the difference. In the event the resale is at a price higher than in the termination schedule- such excess amounts belong to the lessor. The termination schedule is not the same as the casualty value schedule- insured value schedule or stipulated loss value schedule.