Common use of Early Buyout Option Clause in Contracts

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so long as no Event of Default, or event which with notice, lapse of time or both would become an Event of Default shall have occurred, Lessee shall have the right at its option to purchase all, but not less than all, Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth (5th) and Seventh (7th) anniversaries of the Base Term Commencement Date (each an “EBO Date”); provided, however, that Lessee shall have given at least ninety (90) days but not more than one hundred fifty (150) days prior written notice (which notice shall be irrevocable without Lessor’s written consent) to Lessor; (b) on the EBO Date: (i) Lessee shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date and Lessee shall have no further obligations to pay Rent thereunder. Notwithstanding anything to the contrary herein, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Date.

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so So long as no Event of Default, Default or event which with notice, lapse of time or both would become an Event of Default shall have occurredoccurred and be continuing, Lessee shall have the right at its option to purchase all, but not less than all, Items of Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth date which is forty-eight (5th48) and Seventh (7th) anniversaries of months after the Base Term Rent Commencement Date (each an “the "EBO Date”); provided") at a price (the "EBO Price") equal to thirty-five and seventy-one hundredths percent (35.71%) of the Total Cost of the Equipment, howeverplus any applicable sales taxes. For Lessee to exercise its option hereunder, that Lessee shall have given notify Lessor in writing of its desire to effect such option at least ninety (90) days (but not more than one hundred fifty eighty (150180) days days) prior written notice (which to the EBO Date. Such notice shall be irrevocable irrevocable. The EBO Price represents the parties present best estimate of the fair market value of the Equipment on the EBO Date determined by using commercially reasonable methods which are standard in the industry. Payment of the EBO Price, applicable sales taxes, together with all other amounts due and owing by Lessee under the Lease (including, without Lessor’s limitation, Rent) on or before the EBO Date, shall be made on the EBO Date in inunediately available funds. Thereafter, upon Lessee's written consent) request, Lessor shall deliver to Lessor; (b) Lessee a xxxx of sale transferring to Lessee all right, title and interest of Lessor in and to the Equipment ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay all amounts required to be paid under the Lease on the EBO Date: (i) Lessee , the Lease shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule continue in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date full force and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date effect and Lessee shall have no further obligations agrees to pay Rent thereunder. Notwithstanding anything to the contrary hereinreimburse Lessor for all reasonable costs, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules expenses and liabilities incurred in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Dateconnection therewith.

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so So long as no Event of Default, Default or event which with notice, lapse of time or both would become an Event of Default shall have occurredoccurred and be continuing, Lessee shall have the right at its option to purchase all, but not less than all, Items of Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth date which is sixty (5th60) and Seventh (7th) anniversaries of months after the Base Term Rent Commencement Date (each an “the "EBO Date”); provided") at a price (the "EBO Price") equal to twenty-five and two hundredths percent (25.02%) of the Total Cost of the Equipment, howeverplus any applicable sales taxes. For Lessee to exercise its option hereunder, that Lessee shall have given notify Lessor in writing of its desire to effect such option at least ninety (90) days (but not more than one hundred fifty eighty (150180) days days) prior written notice (which to the EBO Date. Such notice shall be irrevocable irrevocable. The EBO Price represents the parties present best estimate of the fair market value of the Equipment on the EBO Date determined by using commercially reasonable methods which are standard in the industry. Payment of the EBO Price, applicable sales taxes, together with all other amounts due and owing by Lessee under the Lease (including, without Lessor’s limitation, Rent) on or before the EBO Date, shall be made on the EBO Date in immediately available funds. Thereafter, upon Lessee's written consent) request, Lessor shall deliver to Lessor; (b) Lessee a xxxx of sale transferring to Lessee all right, title and interest of Lessor in and to the Equipment ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay all amounts required to be paid under the Lease on the EBO Date: (i) Lessee , the Lease shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule continue in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date full force and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date effect and Lessee shall have no further obligations agrees to pay Rent thereunder. Notwithstanding anything to the contrary hereinreimburse Lessor for all reasonable costs, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules expenses and liabilities incurred in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Dateconnection therewith.

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so So long as no Event of Default, Default or event which with notice, lapse of time or both would become an Event of Default shall have occurredoccurred and be continuing, Lessee shall have the right at its option to purchase all, but not less than all, Items of Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth date which is eighty four (5th84) and Seventh (7th) anniversaries of months after the Base Term Rent Commencement Date (each an “the "EBO Date”); provided") at a price (the "EBO Price") equal to thirty one and twenty five hundredths percent (31.25%) of the Total Cost of the Equipment, howeverplus any applicable sales taxes. For Lessee to exercise its option hereunder, that Lessee shall have given notify Lessor in writing of its desire to effect such option at least ninety (90) days (but not more than one hundred fifty eighty (150180) days days) prior written notice (which to the EBO Date. Such notice shall be irrevocable irrevocable. The EBO Price represents the parties present best estimate of the fair market value of the Equipment on the EBO Date determined by using commercially reasonable methods which are standard in the industry. Payment of the EBO Price, applicable sales taxes, together with all other amounts due and owing by Lessee under the Lease (including, without Lessor’s limitation, Rent) on or before the EBO Date, shall be made on the EBO Date in immediately available funds. Thereafter, upon Lessee's written consent) request, Lessor shall deliver to Lessor; (b) Lessee a bill xx sale transferring to Lessee all right, title and interest of Lessor in and to the Equipment ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay all amounts required to be paid under the Lease on the EBO Date: (i) Lessee , the Lease shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule continue in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date full force and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date effect and Lessee shall have no further obligations agrees to pay Rent thereunder. Notwithstanding anything to the contrary hereinreimburse Lessor for all reasonable costs, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules expenses and liabilities incurred in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Dateconnection therewith.

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so So long as no Event of Default, Default or event which with notice, lapse of time or both would become an Event of Default shall have occurredoccurred and be continuing, Lessee shall have the right at its option to purchase all, but not less than all, Items of Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth date which is eighty four (5th84) and Seventh (7th) anniversaries of months after the Base Term Rent Commencement Date (each an “the "EBO Date”); provided") at a price (the "EBO Price") equal to thirty one and forty six hundredths percent (31.46%) of the Total Cost of the Equipment, howeverplus any applicable sales taxes. For Lessee to exercise its option hereunder, that Lessee shall have given notify Lessor in writing of its desire to effect such option at least ninety (90) days (but not more than one hundred fifty eighty (150180) days days) prior written notice (which to the EBO Date. Such notice shall be irrevocable irrevocable. The EBO Price represents the parties present best estimate of the fair market value of the Equipment on the EBO Date determined by using commercially reasonable methods which are standard in the industry. Payment of the EBO Price, applicable sales taxes, together with all other amounts due and owing by Lessee under the Lease (including, without Lessor’s limitation, Rent) on or before the EBO Date, shall be made on the EBO Date in immediately available funds. Thereafter, upon Lessee's written consent) request, Lessor shall deliver to Lessor; (b) Lessee a bill xx sale transferring to Lessee all right, title and interest of Lessor in and to the Equipment ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay all amounts required to be paid under the Lease on the EBO Date: (i) Lessee , the Lease shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule continue in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date full force and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date effect and Lessee shall have no further obligations agrees to pay Rent thereunder. Notwithstanding anything to the contrary hereinreimburse Lessor for all reasonable costs, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules expenses and liabilities incurred in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Dateconnection therewith.

Early Buyout Option. Lessor hereby grants to Lessee the option, exercisable only as provided herein, to purchase all but not less than all Equipment leased pursuant to each Schedule prior to the expiration of the Term for such Schedule, subject to the following: (a) so So long as no Event of Default, Default or event which with notice, lapse of time or both would become an Event of Default shall have occurredoccurred and be continuing, Lessee shall have the right at its option to purchase all, but not less than all, Items of Equipment leased pursuant to each Schedule (the “EBO Equipment”) on the Fifth date which is eighty four (5th84) and Seventh (7th) anniversaries of months after the Base Term Rent Commencement Date (each an “the "EBO Date”); provided") at a price (the "EBO Price") equal to thirty one and fifty one hundredths percent (31.51%) of the Total Cost of the Equipment, howeverplus any applicable sales taxes. For Lessee to exercise its option hereunder, that Lessee shall have given notify Lessor in writing of its desire to effect such option at least ninety (90) days (but not more than one hundred fifty eighty (150180) days days) prior written notice (which to the EBO Date. Such notice shall be irrevocable irrevocable. The EBO Price represents the parties present best estimate of the fair market value of the Equipment on the EBO Date determined by using commercially reasonable methods which are standard in the industry. Payment of the EBO Price, applicable sales taxes, together with all other amounts due and owing by Lessee under the Lease (including, without Lessor’s limitation, Rent) on or before the EBO Date, shall be made on the EBO Date in immediately available funds. Thereafter, upon Lessee's written consent) request, Lessor shall deliver to Lessor; (b) Lessee a bill xx sale transferring to Lessee all right, title and interest of Lessor in and to the Equipment ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay all amounts required to be paid under the Lease on the EBO Date: (i) Lessee , the Lease shall pay to Lessor an amount equal to: (A) Seventy-Five Percent (75%) of the Lessor’s Cost set forth on the Schedule continue in the event the EBO Date is the Fifth anniversary of the Base Term Commencement Date or Fifty-Six Percent (56%) of the Lessor’s Cost set forth on the Schedule in the event the EBO Date is the Seventh anniversary of the Base Term Commencement Date; plus (B) all other amounts due under such Schedule with respect to the EBO Equipment, including the Rent payment due on the EBO Date full force and applicable Taxes and other amounts due or payable with respect to such sale and (ii) Lessor shall sell such Equipment for cash to Lessee, AS IS, WHERE IS, without recourse or warranty (except that Lessor has whatever title (if any) to the Equipment that was conveyed to it by the Vendor free of any security interest arising solely by reason of a claim against Lessor that Lessee is not responsible to remove pursuant to this Lease). Provided that Lessee has complied with all obligations contained herein, such Schedule shall be deemed terminated on the EBO Date effect and Lessee shall have no further obligations agrees to pay Rent thereunder. Notwithstanding anything to the contrary hereinreimburse Lessor for all reasonable costs, Lessee hereby agrees that: (1) Lessee’s exercise of the Early Buyout Option under this Section 5.1 with respect to Equipment leased pursuant to one Schedule shall be automatically deemed to be an election of its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease at the same EBO Date (Fifth or Seventh anniversary, as applicable) for such other Schedules expenses and liabilities incurred in accordance with the terms thereof (which notice shall be irrevocable without Lessor’s written consent); and (2) if Lessee elects not to exercise its Early Buyout Option to purchase Equipment pursuant to this Section 5.1 on any EBO date with respect to any Schedule, it shall be deemed to have waived its rights to exercise its Early Buyout Option to purchase all Equipment leased under all other Schedules to this Master Lease on the same EBO Dateconnection therewith.