Lessee's Rights to Purchase Vehicles. Each Lessee will have the option, exercisable with respect to any Acquired Vehicle during the Vehicle Term with respect to such Acquired Vehicle, to purchase any Vehicles leased by it under this Operating Lease at the Vehicle Purchase Price, in which event such Lessee will pay the Vehicle Purchase Price to the Master Collateral Agent on or before the Due Date next succeeding such purchase by the Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent with respect to such Vehicle through the date of such purchase. In addition, each Lessee will have the option, exercisable with respect to any Manufacturer Receivable related to an Acquired Vehicle which was leased by such Lessee under this Operating Lease, to purchase such Manufacturer Receivable for a price equal to the amount due from the Manufacturer under such Manufacturer Receivable, in which event the Lessee will pay such amount to the Master Collateral Agent on or before the Payment Date next succeeding such purchase by the Lessee. Upon receipt of such funds by the Master Collateral Agent, the Lessor, at the request of the Lessee, shall cause title to any such Vehicle or Manufacturer Receivable, as applicable, to be transferred to the applicable Lessee, and the lien of the Master Collateral Agent on such Vehicle shall be released thereby.
Lessee's Rights to Purchase Vehicles. (a) Each Lessee shall have the option, exercisable with respect to any Vehicle during the Vehicle Term with respect to such Vehicle, to purchase any Vehicle leased by such Lessee hereunder at the greater of (i) the Termination Value or (ii) the Market Value of such Vehicle, in each case, as of the Payment Date with respect to the Related Month in which such Lessee elects to purchase such Vehicle (the greater of such amounts being referred to as the “Vehicle Purchase Price”), in which event such Lessee will pay the Vehicle Purchase Price to the Lessor on or before such Payment Date and such Lessee will pay on or before such Payment Date all accrued and unpaid Monthly Base Rent and any Supplemental Rent then due and payable with respect to such Vehicle through such Payment Date. The Administrator shall request the Trustee to cause its Lien to be removed from the Certificate of Title for such Vehicle, concurrently with or promptly after the Vehicle Purchase Price for such Vehicle (and any such unpaid Monthly Base Rent and Supplemental Rent) is deposited in the Collection Account.
Lessee's Rights to Purchase Vehicles. The Lessee will have the option, exercisable with respect to any Acquired Vehicle during the Vehicle Term with respect to such Acquired Vehicle, to purchase any Vehicles leased under this Agreement at the Vehicle Purchase Price, in which event the Lessee will pay the Vehicle Purchase Price to the Master Collateral Agent on or before the Due Date next succeeding such purchase by the Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent with respect to such Vehicle through the date of such purchase. The Lessor shall cause title to any such Vehicle to be transferred to the Lessee, and the Servicer shall cause the Master Collateral Agent to cause its lien to be removed from the certificate of title for such Vehicle, concurrently with or promptly after the Vehicle Purchase Price for such Vehicle (and any unpaid Monthly Base Rent and unpaid Monthly Variable Rent) is paid by the Lessee to the Master Collateral Agent.
Lessee's Rights to Purchase Vehicles. (a) Each Lessee will have the option, exercisable with respect to any Synthetic Lease Vehicle leased by it during the Vehicle Term with respect to such Synthetic Lease Vehicle, to purchase any Synthetic Lease Vehicle leased under this Lease at the Vehicle Purchase Price, in which event such Lessee will pay the Vehicle Purchase Price to the Master Collateral Agent on or before the Payment Date next succeeding such purchase by such Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent and any other charges, payments and amounts due and payable hereunder on such Payment Date with respect to such Vehicle through the date of such purchase. In addition, each Lessee will have the option, exercisable with respect to any Manufacturer Receivable related to a Synthetic Lease Vehicle which was leased by such Lessee under this Lease, to purchase such Manufacturer Receivable for a price equal to the amount due from the Manufacturer under such Manufacturer Receivable, in which event the Lessee will pay such amount to the Master Collateral Agent on or before the Payment Date next succeeding such purchase by the Lessee. Upon receipt of such funds by the Master Collateral Agent, the Lessor, at the request of the Lessee, shall cause title to any such Vehicle or Manufacturer Receivable, as applicable, to be transferred to the Lessee, the lien of the Master Collateral Agent in such Vehicle or Manufacturer Receivable, as applicable, will automatically be released and, with respect to a purchase of a Vehicle, the Servicer thereof shall cause the Master Collateral Agent to cause the notation of its lien to be removed from the certificate of title for such Vehicle, concurrently with or promptly after the Vehicle Purchase Price for such Vehicle (and any unpaid Monthly Base Rent, unpaid Monthly Variable Rent and any other unpaid charges, payments and amounts) are paid by such Lessee to the Master Collateral Agent.
Lessee's Rights to Purchase Vehicles. Each Lessee will have the option, exercisable with respect to any Vehicle during the Vehicle Term with respect to such Vehicle, to purchase any Vehicles leased under this Agreement at the greater of (i) the applicable Net Book Value or (ii) the fair market value of the Vehicle as established by the "Black Book" published by National Auto Research Division of Hearst Business Corporation or, if such "Black Book" is no longer published, a national publication then currently accepted in the United States automobile rental industry for the valuation of Vehicles, which is proposed by the Servicer and approved by the Lessor, such approval not to be unreasonably withheld or delayed (the greater of such amounts being referred to as the "Vehicle Purchase Price"), in which event such Lessee will pay the Vehicle Purchase Price to the Lessor on or before the Due Date next succeeding such purchase by the relevant Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent with respect to such Vehicle through the date of such purchase. The Lessor shall cause title to any such Vehicle to be transferred to the relevant Lessee, and the Servicer shall cause the Trustee to cause its lien to be removed from the certificate of title for such Vehicle, concurrently with or promptly after the Vehicle Purchase Price for such Vehicle (and any such unpaid Monthly Base Rent and Monthly Variable Rent) is paid by such Lessee to the Trustee.
Lessee's Rights to Purchase Vehicles. Each Lessee will have the option, exercisable with respect to any Vehicle during the Vehicle Term with respect to such Vehicle, to purchase any Vehicles leased under this Agreement at the greater of (i) the applicable Net Book Value or (ii) the Fair Market Value of the Vehicle (the greater of such amounts being referred to as the "Vehicle Purchase Price", with respect to Repurchase Vehicles, and the "Non-Repurchase Vehicle Value", with respect to Non-Repurchase Vehicles), in which event such Lessee will pay the Vehicle Purchase Price or the Non-Repurchase Vehicle Value, as applicable, to the Lessor on or before the Due Date next succeeding such purchase by the relevant Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent with respect to such Vehicle through the date of such purchase. The Lessor shall cause title to any such Vehicle to be transferred to the relevant Lessee, and the Servicer shall cause the Trustee to cause its lien to be removed from the certificate of title for such Vehicle, concurrently with or promptly after the Vehicle Purchase Price or the Non-Repurchase Vehicle Value, as applicable, for such Vehicle (and any such unpaid Monthly Base Rent and Monthly Variable Rent) is paid by such Lessee to the Trustee.
Lessee's Rights to Purchase Vehicles. Each Lessee will have the option, exercisable with respect to any Acquired Vehicle during the Vehicle Term with respect to such Acquired Vehicle, to purchase any Vehicles leased by it under this Operating Lease at the Vehicle Purchase Price, in which event such Lessee will pay the Vehicle Purchase Price to the Master Collateral Agent on or before the Due Date next succeeding such purchase by the Lessee plus all accrued and unpaid Monthly Base Rent and Monthly Variable Rent with respect to such Vehicle through the date of such purchase. Upon receipt of such funds by the Master Collateral Agent, the Lessor, at the request of the Lessee, shall cause title to any such Vehicle to be transferred to the applicable Lessee, and the lien of the Master Collateral Agent on such Vehicle shall be released thereby.
