END OF LEASE PURCHASE OPTION Sample Clauses

END OF LEASE PURCHASE OPTION. Lessee may, at lease expiration, purchase all (but not less than all) of the Equipment on any Schedule on an AS IS BASIS for cash equal to the amount indicated on such Schedule (the "OPTION PAYMENT"), plus all applicable sales taxes. The Option Payment, plus all applicable sales taxes, shall be due and payable in immediately available funds on the expiration date of such Schedule. Lessee must notify Lessor of its intent to purchase the Equipment in writing at least one hundred eighty (180) days prior to the expiration date of the Schedule. If Lessee is in default, or if the Schedule or this Agreement has already been terminated, Lessee may not purchase the Equipment.
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END OF LEASE PURCHASE OPTION. (a) On the Expiration Date (specified in Annex B), Lessee may, so long as no default exists hereunder and this Lease has not been earlier terminated, purchase the Aircraft on an AS IS BASIS for cash equal to its then Fair Market Value (plus all applicable sales taxes). Lessee must give Lessor at least ninety (90) days, but not more than one hundred eighty (180) days, prior written notice of its intent to purchase.
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END OF LEASE PURCHASE OPTION. (a) On the expiration of any Lease, Lessee may, so long as no Event of Default (or event or circumstance which with the giving of notice or passage of time or both, would result in an Event of Default) exists thereunder, and such Lease has not been earlier terminated, purchase all (but not less than all) of the Equipment set forth in any Schedule on an AS IS BASIS for cash equal to its then Fair Market Value (plus all applicable sales taxes). Lessee must notify Lessor of its intent to purchase the Equipment in writing at least one hundred fifty (150) days prior to the expiration date of such Lease. If Lessee is in default, or if the Lease or this Agreement has already been terminated, Lessee may not purchase the Equipment.
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END OF LEASE PURCHASE OPTION. (a) On the Expiration Date (specified in Annex B), Lessee may, so long as no Event of Default or any event or occurrence which with the giving of notice or passage of time or both would result in an Event of Default exists hereunder and this Lease has not been earlier terminated, purchase the Aircraft on an AS IS BASIS for cash equal to its then Fair Market Value (plus all applicable sales taxes together with any Rent and other sums due and unpaid on the Expiration Date). Upon receipt of indefeasible payment in full of such amounts by Lessor, Lessor shall convey all of its right, title and interest in and to the Aircraft to lessee on an AS IS BASIS without representation or warranties of any kind, other than the absence of liens created by or through Lessor. Lessee must give Lessor at least ninety (90) days, but not more than one hundred eighty (180) days, prior written notice of its intent to purchase.
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END OF LEASE PURCHASE OPTION. So long as (i) no Default exists hereunder, and (ii) the Term has not been earlier terminated, Lessee may at the expiration of the Term of this Lease, upon at least one hundred eighty (180) days' prior written notice to Lessor, purchase all (but not less than all) of the Equipment described in the Equipment Schedule on an AS IS, WHERE IS BASIS without recourse to or warranty from Lessor, express or implied, for a purchase price of $1.00 payable to Lessor (plus all applicable sales taxes). The payment shall be due and payable on the expiration of the Term of this Lease. If a Default occurs hereunder, so long as, within fourteen (14) days after the occurrence of such Default, (i) Lessee gives written notice to Lessor of Lessee's intent to purchase the Equipment (unless Lessee has previously given such notice), and (ii) Lessee pays to Lessor all amounts which would otherwise be due hereunder from the date of such Default through and including the end of the Term, Lessee may purchase all (but not less than all) of the Equipment described in the Equipment Schedule on an AS IS, WHERE IS BASIS without recourse to or warranty from Lessor, express or implied, for a purchase price of $1.00 payable to Lessor (plus all applicable sales taxes), and such payment shall be due and payable on the expiration of such 14-day perod.
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END OF LEASE PURCHASE OPTION. (a) So long as Lessee is not then in Default under this Lease, Lessee shall have the option commencing on August 27, 2003 and continuing until the expiration of the term of each Schedule, to purchase all (but not less than all) of the Equipment described on all Schedules of a particular series executed hereunder upon the following terms and conditions: If Lessee desires to exercise this option with respect to the Equipment, Lessee shall pay to Lessor on the closing date of the purchase of the Equipment, in addition to the scheduled Rent (if any) then due on such date and all other sums then due hereunder, in cash the purchase price for the Equipment so purchased, determined as hereinafter provided. If the closing date falls on a date on which scheduled Rent is not due, Lessee will pay the appropriate pro rata share of the next scheduled Rent payment. The purchase price of the Equipment shall be an amount equal to the Fair Market Value of such Equipment, plus all taxes and charges upon sale. Upon satisfaction of the conditions specified in this Paragraph 9(a), and upon receipt from Lessee of documentation acceptable to Lessor, Lessor will transfer, on an AS IS BASIS, all of Lessor's interest in and to such Equipment. Lessor shall not be required to make and may specifically disclaim any representation or warranty as to the condition of such Equipment and other matters (except that Lessor shall warrant that it has conveyed whatever interest it received in such Equipment free and clear of any lien or encumbrance created by, through or under Lessor). Lessor shall execute and deliver to Lessee such Uniform Commercial Code Statements of Termination, bills of sale and other documents as reasonably may be required in order to terminate any interest of Lessor in and to such Equipment.
Sample 1
END OF LEASE PURCHASE OPTION. Lessee may, at lease expiration, purchase all (but not less than all) of the Equipment on any Schedule on an AS IS BASIS for cash equal to the amount indicated on such Schedule (the "OPTION PAYMENT"), plus all applicable sales taxes. The Option Payment, plus all applicable sales taxes, shall be due and payable in immediately available funds on the expiration date of such Schedule, provided that Lessee is not in default and that the Schedule or this Agreement has not already been terminated.
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Related to END OF LEASE PURCHASE OPTION

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Sublease Agreement Sublandlord and Subtenant hereby represent that a true and complete copy of the Sublease Agreement is attached hereto and made a part hereof as Exhibit A.

  • Ground Lease Reserved.

  • Notice to Mortgagee and Ground Lessor After receiving notice from any person, firm or other entity that it holds a mortgage which includes the Premises as part of the mortgaged premises, or that it is the ground lessor under a lease with Landlord, as ground lessee, which includes the Premises as a part of the demised premises, no notice from Tenant to Landlord shall be effective unless and until a copy of the same is given to such holder or ground lessor, and the curing of any of Landlord’s defaults by such holder or ground lessor within a reasonable time thereafter (including a reasonable time to obtain possession of the premises if the mortgagee or ground lessor elects to do so) shall be treated as performance by Landlord. For the purposes of this Section 9.4 or Section 9.14, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (but not one on Tenant’s leasehold interest).

  • Lease Grant The Premises are hereby leased to Tenant from Landlord, together with the right to use any portions of the Property that are designated by Landlord for the common use of tenants and others (the “Common Areas”).

  • Landlord’s Option At any time within ten (10) days after Landlord's receipt of the notice specified in Section 14.2, Landlord may by notice to Tenant elect to (a) terminate this Lease as to the portion (including all) of the Premises that is specified in Tenant's notice, with a proportionate abatement in the Base Rent, (b) consent to the Sublease or Assignment, or (c) disapprove the Sublease or Assignment; Landlord shall not unreasonably withhold its consent to the Assignment or Sublease. Tenant shall pay as additional rent, Landlord's reasonable attorneys' fees incurred in connection with the review of any proposed Assignment or Sublease. Tenant agrees to pay Landlord fifty percent (50%) of the amount by which all sums payable to Tenant in connection with such Assignment or Sublease exceed the total of (a) Base Rent payable by Tenant to Landlord hereunder, (b) reasonable leasing commission incurred by Tenant in connection therewith, and (c) the cost of any Alterations reasonably incurred in connection therewith, and (d) advertisement costs. If Landlord consents to the Sublease or Assignment within such ten (10) day period, Tenant may thereafter within sixty (60) days after Landlord's consent enter into such Assignment or Sublease with such approved assignee or subtenant upon the terms and conditions set forth in the notice furnished by Tenant to Landlord pursuant to Section 14.2. No Assignment or Sublease shall be binding on Landlord until Tenant delivers an executed copy of such Assignment or Sublease to Landlord. Notwithstanding Section 14.3 or any other provision to the contrary, in the event Landlord exercises its recapture right under this Section 14.3, Tenant shall have the right to rescind its notice for request to sublease, assign or transfer within three (3) business days following receipt of Landlord's notice of recapture.

  • Notice of Lease Owner shall give to Standard & Poor's Ratings Services, a Standard & Poor's Financial Services LLC business, a copy of any notice regarding a lease of the Aircraft required to be given to the Mortgagee pursuant to clause (w) of the first sentence of the penultimate paragraph of Section 4.02(b) of the Trust Indenture, at the time such notice is given to Mortgagee, if at such time Standard & Poor's is then rating the Pass Through Certificates.

  • Option to Lease The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Institution from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Institution containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Institution agrees to assume all leases assigned (or enter into subleases or new leases in lieu thereof) pursuant to this Section 4.6. If the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for the Fixtures, Furniture and Equipment located on such leased Bank Premises.

  • Term of Lease This Lease shall commence on the date of ________ and shall continue until its natural termination under this part on the date of ________ at 11:59 PM. After the date of termination, this Lease shall automatically renew and shall continue for the same term amount until Landlord or Tenant undertake cancellation of this Lease in writing. At the expiration of this Lease, Tenant shall be responsible for providing a forwarding address to Landlord to receive any funds owed or other notices.

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