Common use of Acceleration of Purchase Obligation Clause in Contracts

Acceleration of Purchase Obligation. (a) The Lessee shall be obligated ----------------------------------- to purchase for an amount equal to the Asset Termination Value the Lessor's interest in the Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 20.1) (i) automatically and without notice ------------ upon the occurrence of any Lease Event of Default specified in clause (f) or (g) ---------- --- of Section 17.1, and (ii) as provided for at Section 17.2(e) immediately upon ------------ --------------- written demand of the Lessor upon the occurrence of any other Lease Event of Default (except as provided in Section 17.2(h) or 17.2(i)). ---------------------------

Appears in 1 contract

Samples: Trust and Security Agreement (Asyst Technologies Inc /Ca/)

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Acceleration of Purchase Obligation. (a) The Lessee shall be ----------------------------------- obligated ----------------------------------- to purchase for an amount equal to the Asset Termination Value Value, the Lessor's interest in the Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 20.1) (i) automatically and ------------ without notice ------------ upon the occurrence of any Lease Event of Default specified in clause (f) or (g) ---------- --- of Section 17.1, and (ii) as provided for at Section 17.2(e) --------------------------------- --------------- immediately upon ------------ --------------- written demand of the Lessor upon the occurrence of any other Lease Event of Default (except as provided in Section 17.2(h) or 17.2(i)). ---------------------------Default.

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

Acceleration of Purchase Obligation. (a) The Lessee shall be ----------------------------------- obligated ----------------------------------- to purchase for an amount equal to the Asset Termination Value the Lessor's interest in the Property (notwithstanding any prior election to exercise its Purchase Option or Partial Purchase Option pursuant to Section ------- 20.1) (i) automatically and without notice ------------ upon the occurrence of any Lease ---- Event of Default specified in clause (f) or (g) ---------- --- of Section 17.1, and (ii) as ---------- --- ------------ provided for at Section 17.2(e) immediately upon ------------ --------------- written demand of the Lessor --------------- upon the occurrence of any other Lease Event of Default (except as provided in Section 17.2(h17.2(i) or 17.2(iand subject to Section 16.1(b) and (c)). ---------------------------) with respect to the --------------- --------------- --- Lessee's recourse liability if such Lease Event of Default arises during the Agency Term.

Appears in 1 contract

Samples: Master Lease (Bea Systems Inc)

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Acceleration of Purchase Obligation. (a) The Lessee shall be ----------------------------------- obligated ----------------------------------- to purchase for an amount equal to the Asset Termination Value the Lessor's interest in the Property (notwithstanding any prior election to exercise its Purchase Option or Partial Purchase Option pursuant to Section ------- 20.1) (i) automatically and without notice ------------ upon the occurrence of any Lease ---- Event of Default specified in clause (f) or (g) ---------- --- of Section 17.1, and (ii) as ---------- --- ------------ provided for at Section 17.2(e) immediately upon ------------ --------------- written demand of the Lessor upon the occurrence of any other Lease Event of Default (except as provided in Section 17.2(h17.2(i) or 17.2(iand subject to Section 16.1(b) and (c)). ---------------------------) with respect to the --------------- --------------- --- Lessee's recourse liability if such Lease Event of Default arises during the Agency Term.

Appears in 1 contract

Samples: Master Lease (Bea Systems Inc)

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