Common use of Lessor's Option Clause in Contracts

Lessor's Option. At the option of the Lessor, which may be exercised at any time, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At the option of the Lessor, which may be exercised at any timetime after an Event of Default occurs, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be reasonably estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is reasonably required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At the option of the Lessor, which may be exercised at any timetime of after a default has occurred and is continuing, the Lessee shall, upon written request of the Lessor, on the a first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the a Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to o be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose p se of computing the deposit to be made by the Lessee hereunder shall be estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any y particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required require insurance premiums not later than the due date thereof.

Lessor's Option. At the option of Lessor upon the Lessoroccurrence of an event or circumstance which, with the giving of notice and/or the passage of time, would constitute a Lease Default, which may be exercised at any timetime thereafter, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-one- twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by Lessor based upon the Lessor most recent available information concerning said Impositions with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At Upon a Lease Default, or an event which, with the giving of notice or passage of time, and/or both, would constitute a Lease Default, at the option of the Lessor, which may be exercised at any timetime thereafter, the Lessee shall, upon written request of the Lessor, on the first day on of the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At the option of Lessor upon the Lessoroccurrence ofan event or circumstance which, with the giving ofnotice and/or the passage of time, would constitute a Lease Default, which may be exercised at any timetime thereafter, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first frst day of each calendar month thereafter during the Term (each of which ofwhich dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th1/l2th) of the ofthe Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th1/l2th) of the ofthe premiums for the insurance policies required pursuant to Article 12 which are payable within one (1( 1 ) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing ofcomputing the deposit to be made by the Lessee hereunder shall be estimated by Lessor based upon the Lessor most recent available information concerning said Impositions with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th1/l2th) of the ofthe estimated amount payable within one (1( 1 ) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.. 28

Lessor's Option. At the option of the Lessor, which may be exercised at any timetime after an Event of Default occurs, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month month, immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be reasonably estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said .said Monthly Deposit Date, if such additional deposit is reasonably required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At the option of Lessor upon the Lessoroccurrence of an event or circumstance which, with the giving of notice and/or the passage of time, would constitute a Lease Default, which may be exercised at any timetime thereafter, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by Lessor based upon the Lessor most recent available information concerning said Impositions with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.

Lessor's Option. At the option of Lessor upon the Lessoroccurrence ofan event or circumstance which, with the giving of notice and/or the passage of time, would constitute a Lease Default, which may be exercised at any timetime thereafter, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th1/1?th) of the ofthe Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th1/l2th) of the ofthe premiums for the insurance policies required pursuant to Article 12 which are payable within one (1( 1 ) year after said Monthly Deposit Date. If the Ifthe amount of the ofthe Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by Lessor based upon the Lessor with most recent available information concerning said Impositions wiih an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12thI/l2th) of the ofthe estimated amount payable within one (1( 1 ) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.. 4:6.2