Sprint - Nextel 2015 Annual Report Download - page 264

(n) unless otherwise defined, capitalized terms defined in this Agreement in the singular form shall have a
corresponding meaning when used in the plural form, and vice versa; and
(o) “$”, “USD” and “dollars” denote the lawful currency of the United States of America.
ARTICLE II
DEVICE LEASES
SECTION 2.1 Agreement to Lease
(a) Agreement to Lease . On the Lease Closing Date, Lessor agreed to lease the Devices transferred from Lessees to Lessor
pursuant to the Second Step Transfer Agreement to Lessees and Lessees agreed to lease such Devices from Lessor on the terms and
conditions set forth in this Agreement and the Device Lease Schedule with respect to the relevant Devices being leased (this
Agreement together with a Device Lease Schedule, each a “ Device Lease ” and, collectively, the “ Device Leases ”). This
Agreement is intended to be incorporated by reference into each Device Lease Schedule agreed to from time to time as particular
Devices are leased by Lessor to the relevant Lessee. Each Device Lease is intended to be a separate instrument of lease. As to
Devices leased pursuant to any such individual Device Lease, the terms of the applicable Device Lease Schedule shall control over
the terms of this Agreement in the event of conflict. The rights, remedies, powers and privileges of Lessor and the relevant Lessee
under each Device Lease shall be interpreted separately and apart from any other Device Lease.
(b) Acceptance of each Device Lease . Entry into each Device Lease is subject to the relevant Lessee and Lessor agreeing
to a Device Lease Schedule. The relevant Lessee agrees to initially provide or cause to be provided to Lessor the information
required by each Device Lease Schedule to the extent such information is available to such Lessee. Lessor agrees to evaluate the
information provided by the relevant Lessee, work with the relevant Lessee to reconcile any discrepancies and provide or cause to be
provided any additional information required for each Device Lease Schedule, in each case, as promptly as possible.
(c) Intention of the Parties . It is the express intent of each of the parties hereto that each Device Lease constitute a true
lease and not a sale of the Devices. As a protective measure in the event that, notwithstanding the foregoing, the lease of the Devices
to Lessees is recharacterized by any third party as a sale, then solely in that event and for the expressly limited purposes thereof,
each Lessee does hereby grant to Mobile Leasing Solutions for the benefit of Series 1 a security interest in all of such Lessee’s now
or hereafter existing right, title and interest to, and under the Devices and agrees that this Agreement shall constitute a security
agreement under applicable Law. Each Lessee hereby authorizes Lessor or its respective designee to file one or more financing or
continuation statements, and amendments thereto and assignments thereof, relative to all or any of such Lessee’s rights in the
Devices now existing or hereafter arising in the name of such Lessee.
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