Common use of End of Lease Options Clause in Contracts

End of Lease Options. Provided that no Event of Default has occurred and is continuing, Lessee shall have the following options for all, but not less than all of the Products upon expiration of the Primary Term (the "Expiration Date"): (A) Purchase the Products for $1.00; or (B) Upon at least 90 days but no more than 180 days prior written notice. (i) purchase the Products at the Option Price (as defined below); (ii) renew the Lease Term for a minimum of six (6) months at a rate and for a term agreed upon by both parties; or (iii) return the Products in accordance with the Agreement. The Leaseline Schedule shall specify the applicable option. If neither Option is selected in the Leaseline Schedule, Option B shall govern. If Option A is selected, upon the later of: (x) expiration of the Primary Term; or (y) payment in full of all amounts due (including taxes and any late charges), title to the Products shall pass to Lessee, on an AS IS, WHERE IS basis, WITHOUT WARRANTY OR RECOURSE, EXPRESS, IMPLIED OR OTHERWISE, BY OR AGAINST LESSOR, INCLUDING ANY WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST INFRINGEMENT. If Option (B)(i) is selected, the Option Price shall be a fair market value mutually agreed by Lessor and Lessee and upon payment in full of the Option Price and all amounts due (including any taxes and late charges), title to the Products shall pass to Lessee as described above. If Lessee desires to renew the Lease Term, Lessee and Lessor shall enter into a supplement to the applicable Leaseline Schedule to set forth the length of the renewal Lease Term, agreed upon amount of Rent and all other terms of the Schedule and the Agreement shall remain in full force and effect. If Lessee does nor return or purchase the Products, or renew the Lease, the Lease, the term of the Lease shall automatically be extended on a month-to-month basis, at the Rent in effect on the Expiration Date (prorated on a monthly basis if the Payment Period during the Primary Term was other than monthly), and shall continue until terminated by Lessee upon at least thirty (30) days prior written notice to Lessor on the first day of a Payment Period. Payments of Rent during month-to-month status are due and payable monthly in advance, on the same day of each month as the Commencement Date.

End of Lease Options. Provided that no Event of Default has occurred and is continuing, Lessee shall have Buyer hereby irrevocably agrees to purchase the following options for all, but not less than all of Equipment upon the Products upon expiration of the Primary Term Lease at a price of $1.00 ("Purchase Price") plus any applicable taxes, late charges, filing, documentation costs and any unpaid amounts due under the "Expiration Date"): (A) Purchase Lease. In the Products for $1.00; or (B) Upon at least 90 days but no more than 180 days prior written notice. (i) purchase the Products at the Option Price (as defined below); (ii) renew event the Lease Term for a minimum of six (6) months at a rate and for a term agreed upon by both parties; or (iii) return the Products is terminated in accordance with its terms, Buyer hereby agrees to pay to Lessor the AgreementPurchase Price in addition to all other amounts payable to Lessor as a result of said termination. The Leaseline Schedule shall specify A demand for purchase of the applicable option. If neither Option is selected in Equipment may be made by Lessor or its successors and assigns at any time after the Leaseline Schedule, Option B shall govern. If Option A is selected, upon the later of: (x) expiration of the Primary Term; Lease in which event, the effective date for purchase of the Equipment shall be the first (1st) day of the month after such demand or (y) payment in full of all amounts due (including taxes such other date as may be mutually agreed upon between Lessor or its successors and any late charges), title to the Products shall pass to Lessee, on an AS assigns and buyer. THE EQUIPMENT SHALL BE SOLD TO BUYER AND POSSESSION MADE AVAILABLE TO BUYER "AS-IS WHERE IS, WHERE IS basis, WITHOUT ": IT BEING EXPRESSLY UNDERSTOOD THAT LESSOR AND ITS SUCCESSORS AND ASSIGNS MAKE NO REPRESENTATION OF WARRANTY EXPRESSED OR RECOURSE, EXPRESS, IMPLIED OR OTHERWISE, BY OR AGAINST LESSORIMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES WARRANTY OF DESIGNFITNESS FOR ANY PARTICULAR OR OTHER PURPOSE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST PATENT INFRINGEMENT. If Option (B)(i) NOTWITHSTANDING THE FOREGOING, LESSOR OR ITS SUCCESSORS AND ASSIGNS REPRESENT AND WARRANT THAT IT OR THEY HAVE GOOD AND MERCHANTABLE TITLE TO THE EQUIPMENT AND CAN CONVEY SAME TO BUYER, FREE AND CLEAR OF ANY SUPERIOR LIEN OR INCUMBRANCE. BUYER IS LIABLE FOR ANY TAXES PAYABLE AS A RESULT OF THIS SALE OF EQUIPMENT. As a precautionary measure and not as an admission of either pam/ as to whether the Lease is selecteda lease or security agreement and as Security for the obligations contained in said Master Lease and Lease Schedules, now existing or hereafter arising under the Option Price shall be same, Lessee hereby presently conveys, warrants, mortgages, assigns, pledges, and grants to Lessor, its 19 successors and assigns, a fair market value mutually agreed by Lessor first and Lessee prior security interest in said Master Lease and upon payment in full of Lease Schedules, and to the Option Price Equipment, and all amounts due (including any taxes and late charges)additions, title to the Products shall pass to Lessee as described above. If Lessee desires to renew the Lease Termupgrades, Lessee and Lessor shall enter into a supplement to the applicable Leaseline Schedule to set forth the length of the renewal Lease Termattachments, agreed upon amount of Rent and all other terms of the Schedule and the Agreement shall remain in full force and effect. If Lessee does nor return or purchase the Productsaccessories, or renew the Leasereplacements, the Lease, the term of the Lease shall automatically be extended on a month-to-month basis, at the Rent in effect on the Expiration Date (prorated on a monthly basis if the Payment Period during the Primary Term was other than monthly)improvements, and shall continue until terminated by Lessee upon at least thirty (30) days prior written notice to Lessor on the first day of a Payment Period. Payments of Rent during month-to-month status are due substitutions thereto, now or hereafter acquired, together with all rents, issues, income, profits, and payable monthly in advanceproceeds thereof, on the same day of each month as the Commencement Dateincluding insurance proceeds.

End of Lease Options. Provided that no Event of Default has occurred and is continuing, Lessee shall have Buyer hereby irrevocably agrees to purchase the following options for all, but not less than all of Equipment upon the Products upon expiration of the Primary Term Lease at a price of $1.00 ("Purchase Price") plus any applicable taxes, late charges, filing, documentation costs and any unpaid amounts due under the "Expiration Date"): (A) Purchase Lease. In the Products for $1.00; or (B) Upon at least 90 days but no more than 180 days prior written notice. (i) purchase the Products at the Option Price (as defined below); (ii) renew event the Lease Term for a minimum of six (6) months at a rate and for a term agreed upon by both parties; or (iii) return the Products is terminated in accordance with its terms, Buyer hereby agrees to pay to Lessor the AgreementPurchase Price in addition to all other amounts payable to Lessor as a result of said termination. The Leaseline Schedule shall specify A demand for purchase of the applicable option. If neither Option is selected in Equipment may be made by Lessor or its successors and assigns at any time after the Leaseline Schedule, Option B shall govern. If Option A is selected, upon the later of: (x) expiration of the Primary Term; Lease in which event, the effective date for purchase of the Equipment shall be the first (1st) day of the month after such demand or (y) payment in full of all amounts due (including taxes such other date as may be mutually agreed upon between Lessor or its successors and any late charges), title to the Products shall pass to Lessee, on an AS assigns and buyer. THE EQUIPMENT SHALL BE SOLD TO BUYER AND POSSESSION MADE AVAILABLE TO BUYER "AS-IS WHERE IS, WHERE IS basis, WITHOUT ": IT BEING EXPRESSLY UNDERSTOOD THAT LESSOR AND ITS SUCCESSORS AND ASSIGNS MAKE NO REPRESENTATION OF WARRANTY EXPRESSED OR RECOURSE, EXPRESS, IMPLIED OR OTHERWISE, BY OR AGAINST LESSORIMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES WARRANTY OF DESIGNFITNESS FOR ANY PARTICULAR PURPOSE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST PATENT INFRINGEMENT. If Option (B)(i) NOTWITHSTANDING THE FOREGOING, LESSOR OR ITS SUCCESSORS AND ASSIGNS REPRESENT AND WARRANT THAT IT OR THEY HAVE GOOD AND MERCHANTABLE TITLE TO THE EQUIPMENT AND CAN CONVEY SAME TO BUYER, FREE AND CLEAR OF ANY SUPERIOR LIEN OR INCUMBRANCE. BUYER IS LIABLE FOR ANY TAXES PAYABLE AS A RESULT OF THIS SALE OF EQUIPMENT. As a precautionary measure and not as an admission of either pam/ as to whether the Lease is selecteda lease or security agreement and as Security for the obligations contained in said Master Lease and Lease Schedules, now existing or hereafter arising, under the Option Price shall be same, Lessee hereby presently conveys, warrants, mortgages, assigns, pledges, and grants to Lessor, its successors and assigns, a fair market value mutually agreed by Lessor first and Lessee prior security interest in said Master Lease and upon payment in full of Lease Schedules, and to the Option Price Equipment, and all amounts due (including any taxes and late charges)additions, title to the Products shall pass to Lessee as described above. If Lessee desires to renew the Lease Termupgrades, Lessee and Lessor shall enter into a supplement to the applicable Leaseline Schedule to set forth the length of the renewal Lease Termattachments, agreed upon amount of Rent and all other terms of the Schedule and the Agreement shall remain in full force and effect. If Lessee does nor return or purchase the Productsaccessories, or renew the Leasereplacements, the Lease, the term of the Lease shall automatically be extended on a month-to-month basis, at the Rent in effect on the Expiration Date (prorated on a monthly basis if the Payment Period during the Primary Term was other than monthly)improvements, and shall continue until terminated by Lessee upon at least thirty (30) days prior written notice to Lessor on the first day of a Payment Period. Payments of Rent during month-to-month status are due substitutions thereto, now or hereafter acquired, 11 together with all rents, issues, income, profits, and payable monthly in advanceproceeds thereof, on the same day of each month as the Commencement Dateincluding insurance proceeds.

End of Lease Options. Provided that If you are not in default and if you provide no Event greater than 150 days and no less than 60 days’ prior written notice to XFS, you may, at the end of Default has occurred and is continuingthe Initial Lease Term, Lessee shall have the following options for either (a) purchase all, but not less than all all, of the Products upon expiration of the Primary Term (the "Expiration Date"): (A) Purchase the Products for $1.00; or (B) Upon at least 90 days but no more than 180 days prior written notice. (i) purchase the Products at the Option Price (as defined below); (ii) renew the Lease Term for a minimum of six (6) months at a rate and for a term agreed upon by both parties; or (iii) return the Products in accordance with the Agreement. The Leaseline Schedule shall specify the applicable option. If neither Option is selected in the Leaseline Schedule, Option B shall govern. If Option A is selected, upon the later of: (x) expiration of the Primary Term; or (y) payment in full of all amounts due (including taxes and any late charges), title to the Products shall pass to Lessee, on an Equipment “AS IS, WHERE IS basis, IS” and WITHOUT ANY WARRANTY AS TO CONDITION OR RECOURSE, EXPRESS, IMPLIED OR OTHERWISE, BY OR AGAINST LESSOR, INCLUDING ANY WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST INFRINGEMENT. If Option (B)(i) is selected, VALUE at the Option Price shall be a time of purchase by paying its fair market value mutually agreed value, as determined by Lessor and Lessee and upon payment XFS in full of the Option Price and all amounts due its sole but reasonable discretion, plus Taxes, (including any taxes and late charges), title to the Products shall pass to Lessee as described above. If Lessee desires to renew the Lease Term, Lessee and Lessor shall b) enter into a supplement new lease on mutually agreeable terms, or (c) de- install and return the Equipment, at your expense, fully insured, to the applicable Leaseline Schedule to set forth the length a continental US location XFS specifies. If you have not elected one of the renewal Lease Termabove options, agreed upon amount you shall be deemed to have entered into a new lease with a 3 month term on terms and conditions identical to this Lease, except that either party may terminate the new lease at the end of Rent and all other terms its 3 month term on 30 days’ prior written notice and, when this new lease terminates, shall take one of the Schedule and actions identified in (a) (b) or (c) in the Agreement preceding sentence or be deemed to have entered into another new lease with a 3 month term as provided herein. Any purchase option shall remain in full force and effect. If Lessee does nor return or purchase be exercised with respect to each item of Equipment on the Products, or renew day immediately following the Lease, the Lease, the term date of expiration of the Lease shall automatically be extended Term of such item, and by the delivery at such time by you to XFS of payment, in cash or by certified check, of the amount of the applicable purchase price for the Equipment. Upon payment of the applicable amount, XFS shall, upon your request, execute and deliver to you a ▇▇▇▇ of sale for the Equipment on a month-to-month an “AS IS,” “WHERE IS,” “WITH ALL FAULTS” basis, at without representation or warranty of any kind or nature whatsoever. After such payment, you may trade-in the Rent Equipment as part of another transaction with XFS and, if you do, you must pass unencumbered title of the Equipment being traded-in effect on the Expiration Date (prorated on a monthly basis if the Payment Period during the Primary Term was other than monthly), and shall continue until terminated by Lessee upon at least thirty (30) days prior written notice to Lessor on the first day of a Payment Period. Payments of Rent during month-to-month status are due and payable monthly in advance, on the same day of each month as the Commencement DateXFS.

End of Lease Options. Provided that no Event of Default has occurred and is continuing, Lessee shall have Buyer hereby irrevocably agrees to purchase the following options for all, but not less than all of Equipment upon the Products upon expiration of the Primary Term Lease at a price of $1.00 ("Purchase Price") plus any applicable taxes, late charges, filing, documentation costs and any unpaid amounts due under the "Expiration Date"): (A) Purchase Lease. In the Products for $1.00; or (B) Upon at least 90 days but no more than 180 days prior written notice. (i) purchase the Products at the Option Price (as defined below); (ii) renew event the Lease Term for a minimum of six (6) months at a rate and for a term agreed upon by both parties; or (iii) return the Products is terminated in accordance with its terms, Buyer hereby agrees to pay to Lessor the AgreementPurchase Price in addition to all other amounts payable to Lessor as a result of said termination. The Leaseline Schedule shall specify A demand for purchase of the applicable option. If neither Option is selected in Equipment may be made by Lessor or its successors and assigns at any time after the Leaseline Schedule, Option B shall govern. If Option A is selected, upon the later of: (x) expiration of the Primary Term; Lease in which event, the effective date for purchase of the Equipment shall be the first (1st) day of the month after such demand or (y) payment in full of all amounts due (including taxes such other date as may be mutually agreed upon between Lessor or its successors and any late charges), title to the Products shall pass to Lessee, on an AS assigns and buyer. THE EQUIPMENT SHALL BE SOLD TO BUYER AND POSSESSION MADE AVAILABLE TO BUYER "AS-IS WHERE IS, WHERE IS basis, WITHOUT ": IT BEING EXPRESSLY UNDERSTOOD THAT LESSOR AND ITS SUCCESSORS AND ASSIGNS MAKE NO REPRESENTATION OF WARRANTY EXPRESSED OR RECOURSE, EXPRESS, IMPLIED OR OTHERWISE, BY OR AGAINST LESSORIMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES WARRANTY OF DESIGNFITNESS FOR ANY PARTICULAR PURPOSE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST PATENT INFRINGEMENT. If Option (B)(i) NOTWITHSTANDING THE FOREGOING, LESSOR OR ITS SUCCESSORS AND ASSIGNS REPRESENT AND WARRANT THAT IT OR THEY HAVE GOOD AND MERCHANTABLE TITLE TO THE EQUIPMENT AND CAN CONVEY SAME TO BUYER, FREE AND CLEAR OF ANY SUPERIOR LIEN OR INCUMBRANCE. BUYER IS LIABLE FOR ANY TAXES PAYABLE AS A RESULT OF THIS SALE OF EQUIPMENT. As a precautionary measure and not as an admission of either pam/ as to whether the Lease is selecteda lease or security agreement and as Security for the obligations contained in said Master Lease and Lease Schedules, now existing or hereafter arising, under the Option Price shall be same, Lessee hereby presently conveys, warrants, mortgages, assigns, pledges, and grants to Lessor, its successors and assigns, a fair market value mutually agreed by Lessor first and Lessee prior security interest in said Master Lease and upon payment in full of Lease Schedules, and to the Option Price Equipment, and all amounts due (including any taxes and late charges)additions, title to the Products shall pass to Lessee as described above. If Lessee desires to renew the Lease Termupgrades, Lessee and Lessor shall enter into a supplement to the applicable Leaseline Schedule to set forth the length of the renewal Lease Termattachments, agreed upon amount of Rent and all other terms of the Schedule and the Agreement shall remain in full force and effect. If Lessee does nor return or purchase the Products15 accessories, or renew the Leasereplacements, the Lease, the term of the Lease shall automatically be extended on a month-to-month basis, at the Rent in effect on the Expiration Date (prorated on a monthly basis if the Payment Period during the Primary Term was other than monthly)improvements, and shall continue until terminated by Lessee upon at least thirty (30) days prior written notice to Lessor on the first day of a Payment Period. Payments of Rent during month-to-month status are due substitutions thereto, now or hereafter acquired, together with all rents, issues, income, profits, and payable monthly in advanceproceeds thereof, on the same day of each month as the Commencement Dateincluding insurance proceeds.