Common use of Lessor's Obligation to Accept Bids Clause in Contracts

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 13, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 13, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 3 Property after the Expiration Date of the Facility 1 3 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 3 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 3 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 3 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 3 Lease Agreement, a written notice of such election.

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than meets the difference between the Outstanding Lease Amount Land Portion and Residual Value Guaranty Amount under Facility 1Improvement Portion amount requirements set forth in clause (i) of Subparagraph 3.02(b), Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1does not meet such amount requirements, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 12, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 12, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 2 Property after the Expiration Date of the Facility 1 2 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 2 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 2 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 2 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 2 Lease Agreement, a written notice of such election.

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between sum of the total Tranche B Proportionate Share and the Tranche C Proportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between sum of the total Tranche B Proportionate Share and the Tranche C Porportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.be

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.Marketing

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 12, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 12, Lessor shall not accept such bid unless approved by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 2 Property after the Expiration Date of the Facility 1 2 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.on

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between sum of the total Tranche B Proportionate Share and the total Tranche C Proportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between sum of the total Tranche B Proportionate Share and the total Tranche C Proportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall not accept such bid unless approved so directed by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.

Lessor's Obligation to Accept Bids. If, at any time on or prior to the last day of the Secondary Marketing Period, Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is equal to or greater than the difference between sum of the total Tranche B Proportionate Share and the total Tranche C Proportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall accept such bid. If Lessee submits to Lessor a Conforming Bid under this Paragraph 3.02 with a purchase price which is less than the difference between sum of the total Tranche B Proportionate Share and the total Tranche C Proportionate Share of the Outstanding Lease Amount and Residual Value Guaranty Amount under Facility 1Amount, Lessor shall not accept such bid unless approved so directed by Lessor and Required Participants. If Lessee fails to submit a bid to Lessor on or prior to the last day of the Secondary Marketing Period which Lessor is so required to accept, Lessor shall (unless it elects to accept another bid which it is not required to accept, in which case Lessee's obligations shall be limited to the amounts payable pursuant to clause (ii) of Subparagraph 4.06(a)) retain the Facility 1 Property after the Expiration Date of the Facility 1 Lease Agreement; provided, however, that Lessee's payment obligations on such Expiration Date shall be limited to the amounts payable pursuant to clause (iii) of Subparagraph 4.06(a) if (i) Lessor retains the Facility 1 Property after Lessee submits a Conforming Bid on or prior to the last day of the Secondary Marketing Period in accordance with clause (ii) of Subparagraph 3.02(b) and (ii) the Marketing Option has not terminated prior to such Expiration Date pursuant to Subparagraph 3.02(f). If Lessee fails to obtain a Conforming Bid prior to the last day of the Secondary Marketing Period which Lessor is required to accept or another bid which Lessor elects to accept (notwithstanding that it is not required to do so) despite Lessee's timely and complete compliance with Lessee's marketing obligations as described in Subparagraph 3.02(a) and Subparagraph 3.02(b), and such failure is not caused by any negligence or willful misconduct of Lessee, then Lessee's payment obligations on the Expiration Date of the Facility 1 Lease Agreement shall be limited to the amounts payable pursuant to clause (ii) or clause (iii) of Subparagraph 4.06(a), as applicable. Lessor shall notify Lessee of Lessor's election to retain the Facility 1 Property by delivering to Lessee, at least ten (10) days prior to the Expiration Date of the Facility 1 Lease Agreement, a written notice of such election.Date