Common use of Termination of Lease Term Clause in Contracts

Termination of Lease Term. The Term of this Lease will terminate upon the occurrence of the first of the following events: (a) the termination thereof by Lessee in accordance with Section 4.2; (b) the exercise by Lessee of its option to purchase Lessor's interest in the Equipment pursuant to Article X; (c) a default by Xxxxxx and Xxxxxx's election to terminate this Lease pursuant to Article XII; or (d) the payment by Lessee of all Rental Payments and other amounts authorized or required to be paid by Lessee hereunder.

Appears in 3 contracts

Samples: Lease With Option to Purchase Agreement, Lease With Option to Purchase Agreement, Lease With Option to Purchase Agreement

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Termination of Lease Term. The Lease Term of this Lease will terminate upon the occurrence earliest of the first any of the following events: (a) the termination thereof exercise by Lessee of the option to purchase the Personal Property under the provisions of Section 31 and payment of the Purchase Price and all amounts payable in accordance with Section 4.2connection therewith; (b) the exercise by Lessee of its option to purchase Lessor's interest in the Equipment pursuant to Article X; (c) a default by Xxxxxx and Xxxxxx's ’s election to terminate this Lease pursuant to Article XIIAgreement under Section 36; or (dc) the payment by Lessee of all Rental Payments and other amounts authorized or required to be paid by Lessee hereunder during the Lease Term and the payment of all other amounts required to be paid hereunder.

Appears in 2 contracts

Samples: Lease Purchase Agreement, Public Property Finance Act Lease Purchase Agreement

Termination of Lease Term. The Term of this Lease will terminate upon the occurrence of the first of the following events: (a) the termination thereof by Lessee in accordance with Section 4.2; (b) the exercise by Lessee of its option to purchase Lessor's interest in the Equipment pursuant to Article X; (c) a A default by Xxxxxx and Xxxxxx's ’s election to terminate this Lease pursuant to Article XIIXII without payment of all Lease-Purchase Payments; or (db) the The payment by Lessee of all Rental Lease-Purchase Payments and all other amounts authorized or required to be paid by Lessee hereunder. (c) Nonappropriation of funds by Lessee pursuant to Section 12.7 hereof.

Appears in 1 contract

Samples: Lease Purchase Agreement

Termination of Lease Term. The Lease Term of this with respect to any Lease will terminate upon the occurrence of the first of the following events: : (a) the termination thereof of this Agreement by Lessee in accordance with Section 4.2; 3.2; (b) the exercise payment of the Prepayment Price by Lessee of its option to purchase Lessor's interest in the Equipment pursuant to Article X; V; (c) a default an Event of Default by Xxxxxx Lessee and Xxxxxx's ’s election to terminate this such Lease pursuant to Article XII; or or (d) the payment by Lessee of all Rental Payments and all other amounts authorized or required to be paid by Lessee hereunderpursuant to such Lease.

Appears in 1 contract

Samples: Master Equipment Lease Purchase Agreement

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Termination of Lease Term. The Lease Term of this Lease will terminate upon the occurrence earliest of the first any of the following events: (a) the termination thereof exercise by Lessee of the option to purchase the Equipment under the provisions of Section 31 and payment of the Purchase Price and all amounts payable in accordance with Section 4.2connection therewith; (b) the exercise by Lessee of its option to purchase Lessor's interest in the Equipment pursuant to Article X; (c) a default by Xxxxxx and Xxxxxx's ’s election to terminate this Lease pursuant to Article XIIAgreement under Section 36; or (dc) the payment by Lessee of all Rental Payments and other amounts authorized or required to be paid by Lessee hereunderhereunder during the Lease Term.

Appears in 1 contract

Samples: Equipment Lease Purchase Agreement

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