Option to Purchase the System on the Expiration Date Sample Clauses

Option to Purchase the System on the Expiration Date. Provided that no Host Default shall have occurred and is continuing and if Host has not elected to extend the term of this Agreement in accordance with Section 4.2(a), Host shall have the option to purchase the System on the Expiration Date (or such other date as mutually agreed by the Parties) by paying Seller the lesser of the Fair Market Value or three percent (3%) of the System install cost prior to or on the Expiration Date. Host shall exercise this option, if it so chooses, by giving Seller prior written notice of such exercise at least one-hundred and eighty (180) days prior to the Expiration Date. The “Fair Market Value” of the System shall be the value determined by the mutual agreement of Host and Seller within ten (10) days after receipt by Seller of Host’s notice of its election to purchase the System. If Host and Seller cannot mutually agree to a Fair Market Value, then the Parties shall select a nationally recognized independent appraiser with experience and expertise in the solar energy industry to value such equipment. Such appraiser shall act reasonably and in good faith to determine the Fair Market Value and shall set forth such determination in a written opinion delivered to the Parties. The valuation made by the appraiser shall be binding on the Parties in the absence of fraud or manifest error. The costs of the appraisal shall be borne by the Parties equally. To the extent transferable, the Seller will transfer to the Host the remaining period, if any, on all warranties for the System at Host’s sole expense. If the Parties are unable to agree on the selection of an appraiser, then Host and Seller shall each appoint an appraiser firm, and the two (2) firms shall jointly select a qualified third party appraiser to determine the Fair Market Value. Upon receipt by Seller of payment of the Fair Market Value, title to the System as well as Environmental Attributes and Environmental Incentives shall transfer to Host as-is, where-is. If Host does not exercise such option to purchase the System, Seller shall remove the System pursuant to Section 4.6. Removal of the System will include removal of the panels and inverters; it shall not include removal of the penetrations or fixtures.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Option to Purchase the System on the Expiration Date

  • Option to Purchase Subject to Section 3.5, the Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to purchase any or all owned Bank Premises, including all Furniture, Fixtures and Equipment located on the Bank Premises. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date. If the Assuming Institution gives notice of its election not to purchase one or more of the owned Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for such Bank Premises and associated Fixtures, Furniture and Equipment.

  • OPTION TO EXTEND THE TERM OF THE CONTRACT (MAR 2000)

  • Option Period Pursuant to the Contract, the following are the Adjustment Factors for the next option period: Base Year Index Date Index 1 August 2019 11311.06 2 September 2019 11311.24 3 October 2019 11326.12 4 November 2019 11380.83 5 December 2019 11381.53 6 January 2020 11392.41 7 February 2020 11396.01 8 March 2020 11396.97 9 April 2020 11412.67 10 May 2020 11418.16 11 June 2020 11436.23 12 July 2020 11439.11 Third Year Index Date Index 1 August 2021 12463.13 2 September 2021 12464.55 3 October 2021 12464.94 4 November 2021 12467.32 5 December 2021 12481.82 6 January 2022 12555.55 7 February 2022 12683.97 8 March 2022 12791.43 9 April 2022 12898.96 10 May 2022 13004.47 11 June 2022 13110.50 12 July 2022 13167.84 Base Year Average 11383.5283 Third Year Average 12712.8733 Price Adjustment: Third Year Index Average = 12712.8733 = 1.1168 Base Year Index Average 11383.5283 WA-DC-E01-100120-VGL Original Adjustment Factor x Price Adjustment = Option Multiplier Normal Working Hours – Prevailing Wage 1.0919 1.1168 1.2194 Other Than Normal Working Hours – Prevailing Wage 1.0924 1.1168 1.2200 Normal Working Hours – Non-Prevailing Wage 1.0919 1.1168 1.2194 Other Than Normal Working Hours – Non- Prevailing Wage 1.0924 1.1168 1.2200 Non Pre-Priced 1.2108 1.0000 1.2108

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • OPTION TO PURCHASE CONTROLLING In the event a conflict arises between the terms and conditions of the Lease Agreement and the Option to Purchase Agreement, the Option to Purchase Agreement shall control.

  • POST EXPIRATION INTERIM SERVICE ARRANGEMENTS 6.1. No later than one-hundred sixty (160) Days prior to the End Date, CLEC will provide Embarq notice to commence negotiations pursuant to §§251 and 252 of the Act for terms, conditions and rates for a successor agreement to be effective on or before the End Date.

  • COMMENCEMENT/EXPIRATION DATE This instrument is executed as of the date of last signature and is effective for five years from that date, at which time it will expire unless extended.

  • OPTION TO EXTEND SERVICES (NOV 1999) The Government may require continued performance of any services within the limits and at the rates specified in the contract. These rates may be adjusted only as a result of revisions to prevailing labor rates provided by the Secretary of Labor. The option provision may be exercised more than once, but the total extension of performance hereunder shall not exceed 6 months. The Contracting Officer may exercise the option by written notice to the Contractor within 30 days prior to expiration of the contract.

  • Contract Expiration The contract shall expire 120 days after the final services have been rendered.

  • Option to Terminate The Client and Contractor shall: (check one) ☐ - Have the option to terminate this Agreement at any time by providing days’ written notice. ☐ - Not have the option to terminate this Agreement unless there is reasonable cause, as defined in Section VII.

Time is Money Join Law Insider Premium to draft better contracts faster.