OPERATOR'S DEFAULT. If this agreement is terminated by reason of a default by Operator, Licensee shall have the option (i) with respect to an Equipment Purchase, to purchase the Transferable Equipment at a price equal the lesser of (A) to the then fair market value of the Transferable Equipment (taking into account depreciation) or (B) the net book value of the Transferable Equipment, or (ii) with respect to an Equipment Lease, to lease the Transferable Equipment from Operator for a period of not longer than the date on which the FCC License expires or is otherwise terminated at a lease rate equal to the then fair market lease value of the Transferable Equipment.
Appears in 5 contracts
Samples: Spectrum Option Agreement (Clearwire Corp), Ebs Capacity Use and Royalty Agreement (Clearwire Corp), Spectrum Option Agreement (Clearwire Corp)
