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. To elect this option, you shall give Lessor 60 days’ prior irrevocable written notice (unless the Purchase Option price is $1.00) that you will purchase, upon the expiration of the Lease Term, all the Listed Items at the Purchase Option price plus any Costs. (b) PRIOR TO MATURITY PURCHASE. You may, upon 60 days’ prior irrevocable written notice, purchase all the Listed Items at a price equal to the sum of all remaining Payments, plus the Fair Market Value, plus Costs. For purposes of this Agreement, “Fair Market Value” shall be Lessor’s retail price at the time you notify Lessor of your intent to purchase the Listed Items.
End of Term Purchase Option. (a) This Lease shall be deemed a "FMV Lease" and Lessee shall have an end of term purchase option as follows. Provided this Lease has not been terminated earlier and there exists no Default or 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 an amount equal to the Fair Market Value, as defined below, ofsuch Equipment, 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.
(b) Upon full payment to it of the amount specified in clause (a)of this Paragraph7, Lessor shall transfer its right, title and interest in and to such Equipment to Lessee without recourse or warranty, except that Lessor shall warrant that such Equipment is free and clear of any lien or encumbrance arising by or through Lessor. (c) "Fair Market Value" shall mean the value which would obtain in an arm's-length transaction between an informed and willing buyer-user (other than a lessee currently in possession or a used equipment dealer) under no compulsion to buy, and an informed and willing seller under no compulsion to sell and, in such determination, costs of removal from the location of current use shall not be a deduction from such value. Fair Market Value shall be determined by the mutual agreement of Lessor and Lessee in accordance with the preceding sentence or, if Lessee and Lessor cannot agree within 20 days after Lessee's notice of election to purchase under clause (a) of this Paragraph 7, by a qualified independent equipment appraiser selected by Lessor, at Lessee's cost.
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 some, but not necessarily all of the Equipment at the end of the Original Term for an 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. Such notice shall set forth a description of the Equipment to be purchased and the Equipment to be returned. 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.
(b) If option (a) of Paragraph 7 is selected, Lessee shall pay Lessor the amount specified in such option on the last day of the Original Term.
(c) Upon full payment to it of the amount specified in clause (a) or (b) of this Paragraph 8, Lessor shall transfer its right, title and interest in and to such Equipment to Lessee without recourse or warranty, except that Lessor shall warrant that such Equipment is free and clear of any lien or encumbrance arising by or through Lessor.
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.
End of Term Purchase Option. 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 bas 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 an 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. With respect to the Asset Use Supplements, the Obligor shall be entitled, at its option, upon written notice to the Obligee as hereinafter provided, to purchase all, but not less than all, Assets then
End of Term Purchase Option. At the end of any term, Customer shall give CFS 60 days prior irrevocable written notice (unless the Purchase Option is
End of Term Purchase Option. So long as (i) no Event of Default shall have occurred and be continuing under the Lease, (ii) Lessee shall not have exercised its renewal option pursuant to paragraph (b) hereof and (iii) the Lease shall not have been earlier terminated or cancelled, Lessee shall be entitled, at its option, upon written notice to Lessor at least one hundred eighty (180) days but no more than two hundred forty (240) days prior to the expiration of the Basic Term, to 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 sales, excise or other taxes imposed as a result of such sale (other than gross or net income taxes attributable to such sale) together with any Basic Rent due and payable on or before such Basic Rent Date and all accrued and unpaid Rent then due, owing or outstanding. Lessor’s sale of the Aircraft shall be on an “AS-IS WHERE-IS” BASIS, WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF ANY KIND WHATSOEVER, BY, OR RECOURSE TO, LESSOR.
End of Term Purchase Option. Subject to adherence to all applicable notification periods, Time Charterer shall have the option to purchase all of the Vessels pursuant to the end of term purchase option set forth in Section 21(a) of the Bareboat Charter.
