Return Option. He shall have an option to stay or return unless Management directs him to return, in which event his continuous service will continue to accrue for seniority purposes at the other Plant until the expiration of one of the following applicable periods if he has not returned to employment at the other Plant by that time.
Return Option. Lessee may return all of the Equipment, in which case Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of the last day of the Term. If one of the foregoing options is not exercised, the Term will automatically extend for successive 3-month Renewal Terms in which case Lessee will continue to pay Lessor rent at the rate of the periodic Rental Payment previously in effect (or, if the Rental Payments for the Base Term or Renewal Term previously in effect were not constant for all whole Rental Periods, at the rate of the sum of such Rental Payments divided by the number of Rental Periods) (the ‘Previously Effective Rental Rate’); and all other provisions of this Lease will continue to apply. Lessor may terminate any such automatic Renewal Term upon at least 10 days’ notice in which case the Term will terminate on the date specified in such notice, and Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of that date. Lessee’s purchase, renewal, and return options and the automatic renewal provisions provided for in this section apply at the end of the Initial Term and all optional or automatic Renewal Terms. If Lessee fails to comply with the terms of any of the foregoing options elected by it, Lessor may in its absolute discretion elect to terminate the Exercise Notice in which case the automatic renewal provision set forth above will apply as if no Exercise Notice were given, or Lessor may proceed as otherwise permitted by this Lease, including exercising the remedies provided for in this Lease or at law. The foregoing applies following the noncompliance with any of the foregoing options notwithstanding the execution or entry into of any Lease supplement, xxxx of sale, purchase agreement, confirmation, or other documentation memorializing and/or confirming the exercise of the option or the terms of the exercise.
Return Option. In the event Lessee fails to exercise the renewal or purchase option referred to above, Lessee shall return all (but not less than all) of the Equipment pursuant to the terms of Agreement and the applicable Schedule, including, without limitation, any and all return conditions. Lessee agrees that if it elects to return the equipment for the first Schedule, Lessee shall be deemed to have elected to return all other Schedules under this Agreement in which General Electric Capital Corporation is the "Lessor". Lessee shall be charged a 5% restocking fee upon return of the equipment. The following is substituted in place of Section 17 of the Lease:
Return Option. If, 150 days or more prior to the Scheduled Termination Date, Lessee notifies Lessor in writing of Lessee’s election not to exercise the Purchase Option as set forth in Section 14.1 and not to renew the Basic Lease Term pursuant to Section 14.8 hereof, but instead to return the Leased Property (the “Return Option”), then upon the expiration or earlier termination of the Basic Lease Term, Lessee shall surrender and return the Leased Property in accordance with Section 14.7. The period commencing on the giving of such notice and ending on the last day of the Basic Lease Term shall be referred to herein as the “Return Period”.
Return Option. If the Lessee does not elect to exercise the Purchase Option, the Lessee shall redeliver to the Lessor on the Lease Termination Date of the Bus. The Bus being returned shall be free and clear of all liens and shall be in the condition required by Article VI of this Lease. Upon the return of the Bus, pursuant to this section, the Lessee shall deliver to the Lessor or its designee any maintenance logs kept with respect to the Bus. The Lessee shall continue to insure and bear the risk of loss of the Bus in accordance with this Lease until they are redelivered in the condition required by this Section.
Return Option. If Lessees have elected to return the Aircraft, -------------- then upon making such election, Lessees shall place and keep the Aircraft in the condition required upon return by the Lease. During the period from the giving of notice of Lessees' election to return the Aircraft until the date seven (7) days prior to the Expiration Date, Lessees, as agent for Lessor, but at no risk, expense or cost to Lessor of any kind whatsoever, shall use their best efforts (but in no event less effort than used to sell aircraft or equipment any Lessee owns itself) to sell the Aircraft in a commercially reasonable manner and to secure the highest obtainable bids for the purchase of the Aircraft. Lessor may, but shall be under no obligation to, solicit bids, inquire into the efforts of Lessees to obtain bids or otherwise take any action in connection with any such sale. In the event any Lessee receives any bid during such period, Lessees shall promptly certify to Lessor in writing the amount and terms of each such bid and the name and address of the Person submitting such bid. All of such bids shall be subject to the prior written approval of Lessor, and Lessees shall inform all bidders of this requirement when requesting any bids.
Return Option. At the end of the Term (the "Option Date"), provided ------------- there shall be no breach or default by Lessee or event which with the giving of notice or passage of time, or both, might mature into an event of default, Lessee may return the Equipment after giving Lessor written notice of election to return the Equipment at least ninety (90) days before the Option Date, on payment to Lessor of a fee of 9.50% of Total cost ("Termination Fee") and on return of the Equipment to Lessor pursuant to paragraph 20 hereof, Lessee may terminate the Lease with respect to all, but not less than all of the Equipment. In addition to the return provisions contained in paragraph 20 hereof, the following special return provisions shall apply:
Return Option. The Lessee may return the Equipment under terms of the Lease. Except as expressly modified hereby, all terms and provisions of the Lease shall remain in full force and effect. This Addendum is not binding or effective with respect to the Lease or the Equipment until executed on behalf of Lessor and Lessee by authorized representatives of Lessor and Lessee.
Return Option. The Head Lessee may elect to exercise the return of all (but not less than all) the Head Lessor Compressors that are then subject to this Head Lease by giving written notice of such election to the Head Lessor and the Control Party not more than 210 days nor less than 180 days prior to the Termination Date.
Return Option. In the event that Lessee does not elect the "
