Common use of FMV Lease Clause in Contracts

FMV Lease. 1.1 A Purchasing Entity shall have the option to enter into an Initial Lease Term of 12, 18, 24, 36, 48, or 60 months for Group A, Group B, Group C, Sub-Group C1, Sub- Group C2, Group D, Sub-Group D1, Group E, and Group F, based upon the Contractor’s available options, and at the discretion of the Participating State or Entity. 1.2 Upon the expiration of the Initial Lease Term, a Purchasing Entity may do one of the following: a. Exercise their purchase option; b. Renew the lease on a month to month basis, or a 12 month basis, at the discretion of the Participating State or Entity; or c. Return the Device to the Contractor, or have the Contractor pick the Device up.

FMV Lease. 1.1 A Purchasing Entity shall have the option to enter into an Initial Lease Term of 12, 18, 24, 36, 48, or 60 months for Group A, Group B, B and Group C, Sub-Group C1, Sub- Group C2, Group D, Sub-Group D1, Group E, and Group F, based upon the ContractorAwarded Vendor’s available options, and at the discretion of the Participating State or Entity. 1.2 . 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: a. : Exercise their purchase option; b. ; Renew the lease on a month to month basis, or a 12 month basis, at the discretion of the Participating State or Entity; or c. or Return the Device Equipment to the ContractorAwarded Vendor, or have the Contractor Awarded Vendor pick the Device Equipment up.