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Physical Damage Responsibility <br />6.02. The Lessee shall pay for loss or damage to the Vehicle except that Lessee's liability shall <br />not exceed the purchase price of the damaged Vehicle computed according to the provisions of <br />Article 8 at the time of the loss or damage. Lessee further agrees to furnish Lessor with an <br />insurance policy covering damage to the Vehicle, with a replacement -cost limit not less than the <br />then -fair market value of the Vehicle. Lessor shall be named as the insured party or endorsed as a <br />loss payee. <br />Vehicle Theft or Destruction <br />6.03. If the Vehicle is lost or stolen and remains so for thirty (30) days after notification of <br />Lessor, the lease shall terminate provided that all charges for the Vehicle have been paid to that <br />date, including any amounts due under Paragraph 6.02. If the Vehicle is damaged beyond repair, <br />the lease shall automatically terminate on receipt of Lessor's notice, provided that all charges for <br />the Vehicle have been paid to that date, including any amounts due under Paragraph 6.02. <br />ARTICLE 7 TERMINATION <br />Right to Termination <br />7.01. Except as may be otherwise provided in the Grant, either party may terminate this lease <br />of any Vehicle before the expiration of its term on any anniversary of its delivery date, other than <br />the expiration date, by giving the other party at least thirty (30) days' prior written notice. If <br />termination is effected by Lessor, Lessee has the right, but not the obligation, to purchase the <br />Vehicle in accordance with Article 9. If termination is effected by Lessee, Lessee shall at <br />Lessor's option purchase the Vehicle. <br />ARTICLE 8 BREACH OR DEFAULT <br />8.01. If Lessee breaches or defaults on any of the obligations of this agreement, Lessor shall <br />give Lessee thirty (30) days written notice of the breach and an opportunity to cure. If Lessee <br />does not cure the breach within sixty (60) days of notice, Lessor may terminate the Agreement <br />and take possession of the Vehicle, together with any equipment and accessories. <br />ARTICLE 9 MANDATORY PURCHASE OF VEHICLE <br />9.01. Unless as may otherwise be provided in the Grant, if Lessor requires Lessee to purchase <br />the Vehicle (pursuant to Paragraph 7.01), then Lessee shall purchase the Vehicle for $1 within <br />the time stated in the demand. <br />ARTICLE 10 MISCELLANEOUS <br />Assignment <br />10.01. Lessee may not assign this agreement or any of Lessee's rights under this agreement or <br />sublease the Vehicle, or permit others to use it, without the prior written consent of Lessor. Any <br />attempted assignment or sublease by Lessee without prior written consent shall be void and shall <br />