Common use of Model Upgrades Clause in Contracts

Model Upgrades. To meet end users changing needs and requirements, flexibility for adding options during a lease will be allowed. Options leased shall end coterminous with equipment originally leased. The lease price of options added after equipment installation will be based on the stated bid purchase price of the accessory multiplied by the appropriate leasing factor for the remaining term. Lessee shall pay finance charges only for those months during which option is installed. Any addition or deletion of an option will require amendment of the lease to be signed by the vendor and approved by the City Council.

Model Upgrades. To meet end users changing needs and requirementsrequirement, flexibility for adding options during a lease will be allowed. Options leased shall end coterminous with equipment originally leased. The lease price of options added after equipment installation will be based on the stated bid purchase price of the accessory multiplied by the appropriate leasing factor for the remaining term. Lessee shall pay finance charges only for those months during which option is installed. Any addition or deletion of an option will require amendment of the lease to be signed by the vendor and approved by the City Council.