Common use of Term of Lease; Extension Clause in Contracts

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

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Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (“Term”as herein defined). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period thereof, does not constitute a release of Lessee’s rental obligations. If In the event Lessee nonetheless prematurely terminates this Leasethe Lease Agreement during the Term, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease TermTerm unless Lessor and Lessee mutually agree otherwise in writing at the time of Lessee’s placing the order for the Equipment, plus any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return end of the EquipmentTerm or Extension Period, Lessee shall be responsible for any “Final Return Charges” as estimated in the Lease Order Agreement. Lessee understands and agrees that the Final Return Charges stated in the Lease Order Agreement are estimates only and that Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, will be charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that Lessor has surrender for any rental exceeding the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of returnMinimum Lease Term. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and rate. At the end of the Term, Lessor can has the right, upon notice to Lessee, to change or increase any other fee due and payable under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (“Term”as herein defined). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period thereof, does not constitute a release of Lessee’s rental obligations. If In the event Lessee nonetheless prematurely terminates this Leasethe Lease Agreement during the Term, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return end of the EquipmentTerm or Extension Period, Lessee shall be responsible for any “Final Return Charges” as estimated in the Lease Order Agreement. Lessee understands and agrees that the Final Return Charges stated in the Lease Order Agreement are estimates only and that Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, will be charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that . Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Any amounts prepaid by Lessee for dismantle, rent or estimated return freight, knockdown, or fuel freight and knockdown shall be applied as a credit to Lessee’s final invoice once final charges are estimates only and such Final Return Charges shall be charged at determined by Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and rate. At the end of the Term, Lessor can has the right, upon notice to Lessee, to change or increase any other fee due and payable under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return ChargesCharges as estimated in the Lease Agreement. Lessor reserves Lessee understands and agrees that Final Return Charges are estimates only and will be charged at Lessor’s prevailing rate at the right to charge fuel surcharges at its discretiontime of return. At the time of return end of the EquipmentMinimum Lease Term or Extension Period, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, charges charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that rate. Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Le ase Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, knockdown or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 2 contracts

Samples: Lease Agreement, Williams Scotsman

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee Xxxxxx nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee Xxxxxx shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, or fuel surcharges, charged at LessorXxxxxx's then prevailing rate at the time of surrender; provided however, that Lessee Xxxxxx acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee Xxxxxx acknowledges and agrees that any Final Return Charges quoted to Lessee Xxxxxx for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 2 contracts

Samples: Lease Terms, Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on commences upon the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term Billing Period, as defined in the Lease, or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease TermBilling Period. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Billing Period or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease TermBilling Period, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. .Lessor reserves the right to charge fuel surcharges at its discretion. .. At the time of return end of the EquipmentMinimum Lease Billing Period or Extension Period, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that . Lessor has the right to require Lessee to prepay the rental for the last month billing period and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease TermBilling Period, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum TermLease Billing Period, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 2 contracts

Samples: Modular Equipment Lease Agreement, Modular Equipment Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return ChargesCharges as estimated in the Lease Agreement. Lessor reserves Xxxxxx understands and agrees that Final Return Charges are estimates only and will be charged at Xxxxxx’s prevailing rate at the right to charge fuel surcharges at its discretiontime of return. At the time of return end of the EquipmentMinimum Lease Term or Extension Period, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, charges charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that rate. Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. .Lessor reserves the right to charge fuel surcharges at its discretion. .. At the time of return end of the EquipmentMinimum Lease Term or Extension Period, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that . Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 1 contract

Samples: Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (“Term”as herein defined). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period thereof, does not constitute a release of Lessee’s rental obligations. If In the event Lessee nonetheless prematurely terminates this Leasethe Lease Agreement during the Term, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return end of the EquipmentTerm or Extension Period, Lessee shall be responsible for any “Final Return Charges” as estimated in the Lease Order Agreement. Lessee understands and agrees that the Final Return Charges stated in the Lease Order Agreement are estimates only and that Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, will be charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that . Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Any amounts prepaid by Lessee for dismantle, rent or estimated return freight, knockdown, or fuel freight and knockdown shall be applied as a credit to Lessee’s final invoice once final charges are estimates only and such Final Return Charges shall be charged at determined by Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-to- month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and rate. At the end of the Term, Lessor can has the right, upon notice to Lessee, to change or increase any other fee due and payable under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 1 contract

Samples: Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Le ase Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee Xxxxxx nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee Xxxxxx shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, knockdown or fuel surcharges, charged at LessorXxxxxx's then prevailing rate at the time of surrender; provided however, that Lessee Xxxxxx acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee Xxxxxx acknowledges and agrees that any Final Return Charges quoted to Lessee Xxxxxx for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 1 contract

Samples: Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Term or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return ChargesCharges as estimated in the Lease Agreement. Lessor reserves Lessee understands and agrees that Final Return Charges are estimates only and will be charged at Lessor’s prevailing rate at the right to charge fuel surcharges at its discretiontime of return. At the time of return end of the EquipmentMinimum Lease Term or Extension Period, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, dismantle and return freight charges, knockdown, or fuel surcharges, charges charged at Lessor's ’s then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that rate. Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 1 contract

Samples: Lease Agreement

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term Billing Period or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease TermBilling Period. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, Billing Period or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease TermBilling Period, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, knockdown or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates rate at the time of return. At the end of the Minimum Lease TermBilling Period, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum TermLease Billing Period, either party can terminate this Lease Agreement on thirty (30) days written notice.

Appears in 1 contract

Samples: Modular Equipment Lease Agreement

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