FMV Lease. The Initial Term of this Lease will begin on the date the Products are installed and will continue for the number of months shown on the applicable Order Form (“Initial Term”). Unless You have opted for an LTOP Lease as described in Section 23, You must notify Us in writing at least thirty (30) days before the end of the Initial Term that You intend to either (i) return the Products at the end of the Initial Term; or (ii) purchase the Products pursuant to Section 22. If You have not opted for an LTOP lease and You fail to give us such notice, then this Lease will automatically renew for consecutive periods of one (1) month each (each a “Renewal Period”). The amount You pay for the Products will remain unchanged during each Renewal Period. We will not notify You that the Initial Term or any Renewal Period is ending. You may terminate this Lease at the conclusion of any Renewal Period by giving Us thirty (30) days prior written notice of Your intent to do so. If You notify Us in writing that You intend to terminate the Lease, as set forth above, You shall either return the Products pursuant to Section 12 of this Lease or purchase the products pursuant to Section 22.
FMV Lease i) A Purchasing Entity shall have the option to enter into an Initial Lease Term of 24, 36, 48, or 60 months for Group A, Group B and Group C, based upon the Awarded Vendor’s available options, and at the discretion of the Participating State or Entity. In addition, a Participating State or Entity may elect to include 72 and 84 month terms for Group C only, if provided by the Awarded Vendor(s).
FMV Lease. If the AU opts for a Fair Market Value (“FMV”) Lease, the initial term of this Lease will begin on the date the Products are installed and will continue for the number of months agreed upon in the purchase order. The AU agrees to enter into this agreement for an essential government purpose. Unless the AU has opted for an LTO Lease as described in Section 14, the Contractor is required to notify the AU at least thirty (30) days before the end of the initial term that the term is ending. The AU must inform the Contractor (i) to return the Products at the end of the initial term; or (ii) to purchase the Products pursuant to Section 13. If the AU fails to give such notice, the Lease will automatically renew for a one (1) month period until a renewal agreement is in place or ninety (90) days have elapsed. The amount the AU will be required to pay will remain unchanged during the time period past the initial term. At ninety (90) days, the Contractor may terminate the Lease at the conclusion of the initial term by giving the AU thirty (30) days prior written notice of intent to do so. If the AU intends to terminate the Lease, the AU shall either return the Products pursuant to Section 11 of this Lease or purchase the products pursuant to Section 13.
FMV Lease. The Initial Term of this Lease will begin on the date the Products are installed and will continue for the number You agree to make Lease Payments to Us at the address specified on Our invoices, or at any other place designated by Us within thirty (30) days of the date of Our invoice.
FMV Lease. A Purchasing Entity shall have the option to enter into an Initial Lease Term of 24, 36, 48, or 60 months for Group A, Group B and Group C, based upon the Awarded Vendor’s available options, and at the discretion of the Participating State or Entity. In addition, a Participating State or Entity may elect to include 72 and 84 month terms for Group C only, if provided by the Awarded Vendor(s). Upon the expiration of the Initial Lease Term, a Purchasing Entity may do one of the following: Exercise their purchase option; Renew the lease on a month to month basis, or a 12 month basis, at the discretion of the Participating State or Entity; or Return the Equipment to the Awarded Vendor, or have the Awarded Vendor pick the Equipment up.
