LESSEE'S OPTIONS Sample Clauses
The "Lessee's Options" clause defines the specific rights and choices available to the lessee under a lease agreement. This may include options such as renewing the lease for an additional term, purchasing the leased property at the end of the lease, or terminating the lease early under certain conditions. By clearly outlining these options, the clause provides flexibility for the lessee and ensures both parties understand the lessee's potential courses of action, thereby reducing uncertainty and potential disputes.
LESSEE'S OPTIONS. Not later than 360 days nor earlier than 390 days in the case of the Sale Option or not later than 120 days nor earlier than 150 days in the case of the Purchase Option prior to the last day of the Lease Term, Lessee shall, by delivery of written notice to Agent and the Lessor, exercise one of the following options:
(a) Subject to Section 15.2, including, without limitation, the first sentence thereof, purchase for cash for the Purchase Amount all, but not less than all, of the Items of Equipment then subject to this Lease on the last day of the Lease Term (the “Purchase Option”); and if Lessee shall have elected to purchase the Items of Equipment, Lessor shall, upon the payment to Agent of the Purchase Amount then due and payable by Lessee under the Operative Documents, transfer all of Lessor’s right, title and interest in and to the Items of Equipment “as-is” without recourse or warranty (except as to the absence of Lessor Liens); or
(b) Subject to Section 15.2, including, without limitation, the first sentence thereof, sell as non-exclusive agent, on behalf of Lessor, for cash to a purchaser or purchasers all, but not less than all, of the Items of Equipment then subject to this Lease on the last day of the Lease Term (the “Sale Option”). Lessee’s right to sell the Items of Equipment pursuant to the Sale Option shall be conditioned upon and subject to the fulfillment by Lessee of each of the terms and conditions set forth in this Article XV. Simultaneously with a sale on or prior to the last day of the Lease Term pursuant to the Sale Option, Lessee shall pay or cause to be paid to Agent, (i) the Sale Recourse Amount, (ii) the gross proceeds of the sale of the Equipment, without deductions or expense reimbursements (the “Sale Proceeds”), and (iii) all accrued and unpaid Rent and all other amounts due under the Operative Documents and, if such sale occurs prior to the last day of the Lease Term, all Capital Rent not previously paid by Lessee and which would have become due under the Operative Documents on or before the last day of the Lease Term. If the amounts received by the Agent pursuant to the immediately preceding sentence exceed the aggregate outstanding Lease Balance and all other amounts due and owing by Lessee under the Operative Documents, Agent will pay to Lessee such excess amount. The amount payable pursuant to this Section 15.1(b) shall in no event be construed to limit any other obligation of Lessee under the Operative Documents, including...
LESSEE'S OPTIONS. So long as all amounts due Lessor have been paid and no Event of Default has occurred and is continuing, Lessee may, upon at least sixty (60) days advance written notice to Lessor, have the option at the expiration of the Minimum Term to: (i) purchase the Equipment at fair market value; (ii) continue the Lease as provided in Paragraph 3 of this Lease; or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. So long as all amounts due Lessor have been paid and no Event of Default has occurred and is continuing, Lessee may, upon at least sixty (60) days advance written notice to Lessor, have the option at the expiration of the Scheduled Lease Term to: (i) purchase the Equipment at the Purchase Option Amount specified on the applicable Schedule A or if no such amount is specified, at fair market value; (ii) renew the Lease as provided in Paragraph 2 herein; or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. As used in this Paragraph 23, Equipment shall mean all, but not less than all, of the Equipment described in any Schedule A.
LESSEE'S OPTIONS. This listing represents changes assumed to accommodate the desired Lessee configuration and is subject to confirmation on availability and agreed effect on lease pricing and delivery schedule.
I. 2210CG3197 G/S CAP INHIBIT BEFORE LOC (ADD) 2210CG3198 DFCS - CWS WARN (DELETE) 2210CG3232 DFCS - ALT ALERT 200/900 FT (DELETE) 2210CG3235 DFCS - ALT ALERT 300/900 (ADD) 2350CG3147 CW INTERPHONE SW - SPRING LOAD TO OFF W/LOCK (DELETE) 2350CG3158 CW INTERPHONE SW - SPRING LOAD TO OFF (ADD) 2350CG3153 FLT COMP AUDIO MUTE REVISION - ONE SIDE MUTING (ADD) 2350CG3163 DIG. AUDIO REMOTE ELECT. UNIT - DEL HEADSET AURAL (ADD) 3162CG3018 ENHANCED MACH / A/S DISPLAY (DELETE) 3162CG3019 R/A DISPLAY - ROUND DIAL (ADD) 3162CG3020 R/A ABOVE ADI (DELETE) 3162CG3021 R/A BELOW ADI (ADD) 3162CG3025 R/A ALERT 2,500 FT (DELETE) 3162CG3026 ALT. COMPARATOR - STEADY (ADD) 3162CG3027 ALT. COMPARATOR - FLASHING (DELETE) 3162CG3036 AUTOTUNED NAVIDS - DISPLAYED (ADD) 3162CG3037 AUTOTUNED NAAIDS - SUPPRESSED (DELETE) 3162CG3104 ENG INSTR DISPLAY - SIDE BY SIDE (ADD) 3162CG3105 ENG INSTR DISPLAY - OVER & UNDER (DELETE) 3162CH3135 ADDED T/O BUG - NOT DISPLAYED (ADD) 3162MP3186 WX RDR RANGE IND - RANGE MARKS IN LIEU ARCS (ADD) 3446CG3120 GPWS ACT OF DESCENT BELOW MIN (MODE 6) (DELETE) 3446CG3127 GPWS R/A CALLOUTS (100, 50, 30, 20, 10) (ADD) 3446MP3172 GPWS VOICE "HALF VOL" IN LIEU "FULL VOL" (ADD) 3461CG3432 THRUST REDUCTION ALT - T/O PROFILE (ADD) 3461CG3498 FMC ACTIVATION - 1 MEG DATA BASE (ADD) $77,300 3461CH3562 FMC ACTIVATION - RETENTION OF WAYPOINT AFTER DIRECT TO $9.900
II. P/N SWAP CONTINENTAL TOMBO -------- ----------- ----- 1 SSCVR LORAL/FAIRCHILD 2▇▇▇-▇▇▇▇-00 ALLIED SIG 2370MP3215 2370CH3199 2 FLASHLIGHT DME P2-07-0001-215 P2-07-0001-214 2564MP3127 3 DFDAU 223300-83 TELEDYNE DFDMU 3131MP3883, 3131MP3999 3131CH3935 RR97155-26,-29 4 SSDFDR LOCKHEED 3131MP3847 ? 7 WX RDR ▇/▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇-▇▇▇▇-▇▇▇ ALLIED SIGNAL 3443MP3264 3443CG3184 8 WX RDR SPLIT FUNC C/P COLLINS 622-▇▇▇▇-▇0▇ 3443MP3259 ? 10 ATC/TCAS CONT. PNL GABLES G6992-40 ? 3445MP3332 11 FMC CDU (MULTI-PURPOSE) FMC/ACARS/FDAU FMC CDU ONLY 3461CG3465 3461CG3464 12 CREW O▇ ▇▇▇▇▇▇ 114 CU FT 76 CU FT 3510CE3098 3510CG3097 14 RADOME REV. M&N AEROSPACE BAC STD 5352MP3015 15 EVM ENDEVCO W/TRIM BAL VIBROMETER 7731CG3038 7731MP3045 16 COOL WHITE LIGHT 3320MP3039 STD
III. BOEING ADD & DEL 1124CG3V02 EXIT TACTILE LOCATOR (ADD) 3450MP3006 REMOVAL ADF DELETE 144 ALL COACH SEATS INSTALL CONTINENTAL G1/G4B GALLEYS DELETE DRAPE MAT INSTALL CONTINEN...
LESSEE'S OPTIONS. Lessor and Lessee agree that, notwithstanding terms contained in the Lease to the contrary, so long as no Event of Default has occurred and is continuing, at the expiration of the Minimum Term Lessee shall have the option: (i) to purchase the Equipment at fair market value, (ii) Continue the Lease as provided in Paragraph 3 of this Lease, or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. At the expiration of the Scheduled Lease Term, Lessee shall have the option to (i) purchase the equipment at fair market value or at the Purchase Option Amount specified on the applicable Schedule A; (ii) renew the Lease as provided in Paragraph 2 herein, or (iii) return the Equipment to Lessor as provided herein.
LESSEE'S OPTIONS. (a) So long as no Event of Default has occurred and is continuing, Lessee shall have the option at any time during the Lease Term, and upon five (5) days written notice to Lessor, to (i) purchase all, but not less than all, the Fixed Assets (the "Purchase Option") for $1,498,884.66 (the "Gross Purchase Price") less the aggregate amount of all Rent paid through and including the date Lessee delivers notice to Lessor of its election to exercise the Purchase Option, or (ii) terminate this Lease with no further Rent obligation owed from Lessee to Lessor.
(b) At such time as the aggregate amount of all Rent paid under this Lease equals or exceeds the Gross Purchase Price, Lessor shall transfer to Lessee, without recourse or warranty, all of Lessor's right, title and interest in the Fixed Assets.
(c) In the event Lessee acquires right, title and interest in the Fixed Assets, whether through the mechanisms described in Paragraphs 17(a) and (b) above or otherwise, Lessor shall execute any and all documents requested by Lessee to evidence transfer of the Fixed Assets to Lessee, including, without limitation, bills of sale.
LESSEE'S OPTIONS. Notwithstanding the provisions of Section 11.1 above, if such damage or destruction occurs during the last two (2) years of the term of the letting and the cost of rebuilding, restoration, repair or replacement shall exceed fifty percent (50%) of the then full insurable value on a replacement cost basis of the Building immediately prior to such damage or destruction, the Lessee shall have the option of either:
(i) performing all rebuilding, restoration, repairs, replacements or alterations required, in accordance with the provisions of this Agreement, or
(ii) terminating the letting under this Agreement in its entirety by written notice to the Port Authority given within thirty (30) days after the occurrence of such damage or destruction, provided, that there shall be in force and effect the required insurance valid and subsisting and adequate to cover such damage or destruction without any defenses to the payment by the insurance carriers based upon acts or omissions of the Lessee or of any other insureds other than the Port Authority and the City and provided, further, that both at the time of the giving of notice and on the effective date thereof: (x) the Lessee is not in default under any of the provisions of this Agreement or under notice of termination from the Port Authority, and (y) this Agreement and any buildings, structures, improvements, fixtures and equipment, furnishings and physical property located on the Premises are unencumbered by any mortgage, security interest, judgments, or other liens (to be evidenced by a search made by a title company acceptable to the Port Authority and to be furnished by the Lessee at its sole cost and expense) and free from any pending matters that might develop into additional rental unless the Lessee shall secure payment and discharge of such mortgages, security interests, judgments or other liens and the payment of such additional rental to the Port Authority in a manner satisfactory to the Port Authority.
LESSEE'S OPTIONS. (a) Lessee shall have the right, at its sole option, at anytime after the eighty-fourth (84th) month of the Lease Term, to terminate the Lease upon not less than nine (9) months’ advance written notice to Lessor with a penalty equal to five (5) months’ of then Base Rent.
(b) Upon expiration of the initial Term, Lessee shall have two (2) options to extend the Lease for an additional five (5) years at 95% of fair market rental for comparable retail projects in the area. Lessee must give Lessor at least six (6) months’ prior written notice of its exercise of the option. The fair market rental shall be determined by taking the average of the Lessor’s and the Lessee’s real estate brokers and must be agreed upon in writing by Lessor and Lessee.
LESSEE'S OPTIONS. Upon the occurrence of any event of default, Lessee may do any one or more of the following without any notice or demand whatsoever:
LESSEE'S OPTIONS. Not later than 180 days prior to the Expiration Date then in effect with respect to any Lease Supplement, Lessee shall, by delivery of written notice to Agent and Lessor, exercise one of the following options, subject to the requirements and limitations of Section 11.2:
(a) elect to renew this Lease with respect to all, but not less than all, of the Lease Supplement Equipment then subject to such Lease Supplement (the "Renewal Option") with respect to the applicable Base Term or applicable Renewal Term then in effect, for a renewal term commencing on the last day of the applicable Base Term or applicable Renewal Term then in effect and expiring on the one year anniversary thereof (each, a "Renewal Term") provided, that (i) such option shall be exercised only with respect to the applicable Base Term or applicable Renewal Term then in effect with respect to such Lease Supplement, (ii) in connection with the exercise of the Renewal Option with respect to a Lease Supplement, Lessee shall have theretofore provided Agent, Lessor and the Participants with an Annual Appraisal required pursuant to Section 5.8 of this Lease as of the most recent anniversary of the Document Closing Date and (iii) notwithstanding the foregoing, in no event shall any Renewal Term in respect of any Lease Supplement extend beyond the date which is five (5) years following the Document Closing Date unless such additional Renewal Term has been approved pursuant to Section 14.18 of the Participation Agreement; or
(b) purchase all, but not less than all, of such Lease Supplement Equipment for cash for the Option Exercise Amount on such Expiration Date (such option being referred to as the "Purchase Option"); or
(c) sell on such Expiration Date all, but not less than all, of such Lease Supplement Equipment on behalf of the Participants for cash to a purchaser or purchasers not in any way affiliated with Lessee (the "Sale Option"). Simultaneously with a sale pursuant to a Sale Option, Lessee shall pay or cause to be paid to Lessor on the last day of the applicable Lease Term (i) all accrued Basic Rent and any Supplemental Rent then due and payable with respect to such Lease Supplement and the Casualty Amount of any Item of such Lease Supplement Equipment theretofore suffering a Casualty as to which the Casualty Amount was not paid under Section 6.1, (ii) as Supplemental Rent for the benefit of the Participants, an amount equal to the Residual Value Guarantee Amount then in effect with respect ...