Common use of Lessee's Rights to Purchase Vehicles Clause in Contracts

Lessee's Rights to Purchase Vehicles. 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 at the greater of (i) the Termination Value or (ii) the Market Value of 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 the Payment Date with respect to the Related Month in which such Lessee elects to purchase such Vehicle 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 Lessor shall request title to any such Vehicle to be transferred to the relevant Lessee and 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. 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 at the greater of (i) the Termination Value or (ii) the Market Value of 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 the Payment Date with respect to the Related Month in which such Lessee elects to purchase such Vehicle 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 Lessor shall request cause title to any such Vehicle to be transferred to the relevant Lessee and 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. Each Lessee shall will have the option, exercisable with respect to any Vehicle during the Vehicle Term with respect to such Vehicle, to purchase any Vehicle Vehicles leased by such Lessee under this Agreement at the greater of (i) the Termination applicable Net Book Value or (ii) the Fair Market Value of such 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 Payment Due Date with respect to next succeeding such purchase by the Related Month in which such relevant Lessee elects to purchase such Vehicle and such Lessee will pay on or before such Payment Date plus all accrued and unpaid Monthly Base Rent and any Supplemental Monthly Variable Rent then due and payable with respect to such Vehicle through the date of such Payment Datepurchase. The Lessor shall request cause title to any such Vehicle to be transferred to the relevant Lessee Lessee, and the Administrator Servicer shall request cause the Trustee to cause its Lien lien to be removed from the Certificate certificate of Title 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 Supplemental Monthly Variable Rent) is deposited in paid by such Lessee to the Collection AccountTrustee.

Lessee's Rights to Purchase Vehicles. 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 at the greater of (i) the Termination Value or (ii) the Market Value of 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 the Payment Date with respect to the Related Month in which such Lessee elects to purchase such Vehicle 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 Lessor shall request title to any such Vehicle to be transferred to the relevant Lessee and 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. Notwithstanding the foregoing, with respect to any Vehicle that, when acquired by the Lessor, was a Replacement Vehicle, and with respect to any other Vehicle that the Lessor may wish to designate as an Identified Relinquished Vehicle, any Lessee's right to purchase shall be solely in the discretion of the Lessor.

Lessee's Rights to Purchase Vehicles. Each The Lessee shall will have the option, exercisable with respect to any Acquired Vehicle during the Vehicle Term with respect to such Acquired Vehicle, to purchase any Vehicle Vehicles leased by such Lessee under this Agreement at the greater of (i) the Termination Value or (ii) the Market Value of such Vehicle (the greater of such amounts being referred to as the "Vehicle Purchase Price"), in which event such the Lessee will pay the Vehicle Purchase Price to the Lessor Master Collateral Agent on or before the Payment Date with respect to next succeeding such purchase by the Related Month in which such Lessee elects to purchase such Vehicle and such Lessee will pay on or before such Payment Date plus all accrued and unpaid Monthly Base Rent and any Supplemental Monthly Variable Rent then due and payable with respect to such Vehicle through the date of such Payment Datepurchase. The Upon receipt of such funds by the Master Collateral Agent, the Lessor shall request cause title to any such Vehicle to be transferred to the relevant Lessee Lessee, the lien of the Master Collateral Agent in such Vehicle will automatically be released and the Administrator Servicer shall request cause the Trustee Master Collateral Agent to cause the notation of its Lien lien to be removed from the Certificate certificate of Title 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 unpaid Monthly Variable Rent) is deposited in paid by the Collection AccountLessee to the Master Collateral Agent.