End of Term Purchase Option. Host shall also have the right to purchase the Project from Provider following the last day of the month in which the twentieth (20th) anniversary of the Commercial Operation Date occurs (“End of Term Purchase Date”) at the then Fair Market Value of the Project. Fifteen to nine months prior to the End of Term Purchase Date, Host shall notify Provider of its intent to exercise the option. Within ninety-one (91) days of its receipt of such notice, Provider shall give Host its appraisal of the Fair Market Value of the Project at the end of the Term. Host may, but is not obligated to, accept such appraisal and purchase the Project at this amount. If Host does not accept the Fair Market Value of such appraisal within ten (10) days of receiving the appraisal from Provider, the Host and Provider shall meet to discuss the appraisal. If they are unable to reach agreement about the Fair Market Value within twenty (20) days of the Host’s receipt of the appraisal from Provider, the Host and Provider may engage and share the costs equally to procure the services of a nationally recognized independent appraiser with experience and expertise in the solar photovoltaic industry acting reasonably and in good faith to determine the Fair Market Value of the Project consistent with the terms of the transaction. Notwithstanding the foregoing, in the event that Provider enters into a sale/leaseback transaction in connection with funding the installation of the Project, the process of determining the Fair Market Value of the Project shall be undertaken consistently with the terms of such transaction so that the process for determining Fair Market Value under this Agreement shall be the same as provided in the agreements for such sale/leaseback transaction. The Host may purchase the Project at the amount determined by the independent appraiser.
End of Term Purchase Option. Host shall have the right to purchase the Project "Project" means an integrated system for the generation of electricity from solar energy consisting of the photovoltaic panels and associated equipment to be installed on each of the Premises in accordance with this Agreement. from Provider at the expiration of the Operations Period at the then Fair Market Value "Fair Market Value" means the price that would be paid in an arm�s length, free market transaction, for cash, between an informed, willing seller and an informed willing buyer (who is neither a lessee in possession nor a used equipment or scrap dealer), neither of whom is under compulsion to complete the transaction, taking into account, among other things, the age and performance of the Project and advances in solar technology, provided that installed equipment shall be valued on an installed basis and costs of removal from a current location shall not be a deduction from the valuation. of the Project . No earlier than twelve months prior to the expiration of such Operations Period "Operations Period" has the meaning provided in Section 2. and no later than nine (9) months prior to the expiration of the Operations Period , Host "Host" means [Host], a [_____] [corporation], and all successors and assigns. shall notify Provider of its intent to exercise the option. Within ninety-one (91) days of its receipt of such notice, Provider shall give Host its appraisal of the Fair Market Value of the Project at the end of the Term . Host may, but is not obligated to, accept such appraisal. If Host does not accept such appraisal within ten (10) days of receiving the appraisal from Provider , the Parties shall meet to discuss the appraisal. If they are unable to reach agreement within twenty (20) days of the Host ’s receipt of the appraisal from Provider , the Parties will be deemed to enter into a dispute for purposes of Section 23(a) and shall follow the procedures in Section 23 for resolution of the dispute. Notwithstanding the foregoing, in the event that Provider enters into a sale/leaseback transaction in connection with funding the installation of the Project , the process of determining the Fair Market Value of the Project in this Agreement shall be undertaken by a nationally recognized independent appraiser with experience and expertise in the solar photovoltaic industry acting reasonably and in good faith to determine the Fair Market Value "Fair Market Value" means the price that would be paid in an ...
End of Term Purchase Option. (a) If option (b) is selected at Paragraph 7, this Lease shall be deemed an "FMV LEASE" and Lessee shall have an end of term purchase option as follows. (If no option is selected at Paragraph 7, option (b) shall be deemed to apply.) Provided this Lease has not been terminated earlier and there exists no Event of Default or event which with notice, lapse of time or both, would be an Event of Default, not earlier than 90 days and not later than 30 days before the end of the Original Term, Lessee may deliver to Lessor an irrevocable notice electing to purchase all (but not less than all) of the Equipment at the end of the Original Term for amount equal to the amount specified in the provision selected (or deemed selected) in Paragraph 7, which amount Lessee shall pay to Lessor on the last day of the Original Term. If no such notice is delivered by Lessee to Lessor within such period, Lessee shall be deemed to have waived any right to purchase such Equipment.
End of Term Purchase Option. At the end of any term, Customer shall give CFS 60 days’ irrevocable prior written notice (unless the Purchase Option is $1.00) that it will purchase all the Equipment at the Purchase Option plus any Costs. (B) PRIOR TO MATURITY PURCHASE. Customer may, at any time, upon 60 days’ irrevocable prior written notice, purchase all the Equipment at a price equal to the sum of all remaining Payments plus the Fair Market Value plus Costs. “Fair Market Value” shall be CFS' retail price when Customer purchases the Equipment. Equipment purchases shall be “AS-IS WHERE-IS” without warranty, except for title.
End of Term Purchase Option. So long as (i) no Event of Default shall have occurred, and (ii) Lessee shall not have exercised its renewal option pursuant to Paragraph (b) hereof, Lessee may, upon giving its irrevocable written notice to Lessor at least one hundred fifty (150) days but no more than two hundred forty (240) days prior to the Expiration Date, purchase the Aircraft at the expiration of the Basic Term for an amount, payable in immediately available funds, equal to the Fair Market Sales Value of the Aircraft as of the end of the Basic Term determined in accordance with Paragraph (c) hereof plus any applicable Impositions resulting from such sale, together with any Basic Rent due and payable on or before the Expiration Date and all other accrued and unpaid Rent. Lessor's sale of the Aircraft shall be on an "AS-IS WHERE-IS" basis. (b)
End of Term Purchase Option. (a) Return Notice. Lessee shall notify Lessor in writing not later than 12 months prior to the Scheduled Expiration Date whether Lessee shall return the Equipment pursuant to Article VIII hereof or elect to purchase the Equipment pursuant to this Section 16.02 or renew the term pursuant to Section 16.03. If Lessee fails to deliver such notice as herein required, Lessee shall be deemed to have elected to not return the Equipment. If Lessee has elected or is deemed to have elected not to return the Equipment, and Lessee fails to elect to purchase the Equipment pursuant to Section 16.02(b) hereof or to renew the term of the Lease pursuant to Section 16.03 hereof, Lessee shall be deemed to elect to renew the Lease pursuant to Section 16.03 unless no renewal option is available under the terms of Section 16.03, in which event, Lessee shall be deemed to have elected to purchase the Equipment pursuant to Section 16.02(b). All such elections or deemed elections are irrevocable. If Lessee elects or is deemed to have elected to purchase the Equipment or to renew the term of this Lease, then Lessee may commence discussions with Lessor as to Fair Market Sales Value or Fair Market Rental Value of the Equipment, and failing agreement, either Lessee or Lessor may request a determination of Fair Market Sales Value or Fair Market Rental Value pursuant to the Appraisal Procedure.
End of Term Purchase Option. As long as no Event of Default shall have occurred and then be continuing under this Charter, Charterer may (at its option) purchase the Vessel on February 28, 2022, the end of the Base Term (the “End of Term Option Date”), for its Fair Market Value as of that date, plus all applicable sales and use taxes (if any) imposed in connection with such sale and all additional sums (if any) then due and owing hereunder (the “EOT Option Price”). The foregoing purchase option (the “End of Term Option”) may be exercised by Charterer only by and upon written notice to Owner, which notice must be received by Owner not more than two hundred forty (240) days but not less than one hundred eighty (180) days prior to the End of Term Option Date. If Charterer elects to purchase the Vessel, and the End of Term Option has been timely exercised and otherwise remains open, Charterer must pay the EOT Option Price to Owner, in cash, on or prior to the End of Term Option Date (unless there has been a Total Loss in the interim in which case the provisions of Section 11(b) shall apply). The End of Term Option is exercisable only during the period indicated, and shall terminate at 5:00 p.m. Central Time on the End of Term Option Date. In the event that Charterer fails to exercise the End of Term Option prior to the End of Term Option Date, or in the event that the End of Term Option has otherwise terminated in accordance with the terms and provisions hereof, Charterer shall return the Vessel to Owner in accordance with, and in the condition required by, Section 21.
End of Term Purchase Option. Buyer shall have the right to purchase the Unit from Seller at the expiration of the Term of Service at the then Fair Market Value of the Unit. No earlier than twelve months prior to the expiration of such Term of Service and no later than nine (9) months prior to the expiration of the Term of Service, Buyer shall notify Seller of its intent to exercise the option. Within ninety-one (91) calendar days of its receipt of such notice, Seller shall give Buyer its appraisal of the Fair Market Value of the Unit at the end of the Term, and Buyer shall then have a period of ten (10) Business Days after notification to confirm or retract its decision to exercise the purchase option or to request determination of the Fair Market Value of the Unit by appraisal as provided for in Article 19.18. In the latter case, within ten (10) Business Days of the Independent Appraiser’s determination, Buyer shall confirm or retract its decision to exercise the purchase option. In the event Buyer confirms its intent to exercise the purchase option, (i) the Parties will promptly execute all documents necessary to (A) cause title to the Unit to pass to Buyer, free and clear of any liens immediately subsequent to the purchase,
End of Term Purchase Option. Host shall have the right to purchase the Project from Provider at the expiration of the Operations Period at the then Fair Market Value of the Project. No earlier than twelve months prior to the expiration of such Operations Period and no later than nine (9) months prior to the expiration of the Operations Period, Host shall, in its sole discretion, notify Provider of its intent to exercise the option. Within ninety-one (91) days of its receipt of such notice, Provider shall give Host its appraisal of the Fair Market Value of the Project at the end of the Term. Host may, but is not obligated to, accept such appraisal. If Host does not accept such appraisal within ten (10) days of receiving the appraisal from Provider, the Parties shall meet to discuss the appraisal. If they are unable to reach agreement within twenty
End of Term Purchase Option. If Lessee elects the purchase option under Section 24 of the Master Lease, then no later than 10 days prior to the Expiration Date, Lessee shall pay (a) an amount equal to the End of Term Purchase Price as set forth below, plus (b) any other amounts then due under the Lease (including the costs or expenses of Lessor, if any, in connection with such purchase): End of Term Purchase Price: $1.00
