Common use of TIME PRICE Clause in Contracts

TIME PRICE. If the NASPO ValuePoint Lease Order Form and Schedule indicates the lease is a $1 Buyout Lease, Lessee understands that the Leased Equipment may be purchased for cash (the “Product Cost”) or purchased pursuant to this Agreement for a Time Price equal to the amount of each Lease Payment times the number of Lease Payments, all as set forth on the NASPO ValuePoint Lease Order Form and Schedule and this Agreement, plus the Purchase Option amount stated on the NASPO ValuePoint Lease Order Form and Schedule, and by signing this Agreement, Lessee has chosen to purchase the Leased Equipment for that Time Price. The Product Cost may be determined by dividing the Lease Payment by the lease rate factor set forth on the NASPO ValuePoint Lease Order Form and Schedule. Each Lease Payment under a $1 Buyout Lease includes a part of Lessor’s investment in the Product Cost and a return on Lessor’s investment in the $1 Buyout Lease. The total return on Lessor’s investment (the total finance charge) is determined by deducting the Product Cost (as determined above) from the Time Price. The difference so determined is the return to Lessor on its investment (the total finance charge). The rate of return (finance rate) may be determined by applying to the Product Cost, the rate that will amortize the Product Cost down to the Purchase Option amount by applying as payments, the Lease Payments. For purposes of that amortization, each Lease Payment will be considered received on the date it is required to be paid under this Agreement.

TIME PRICE. If the NASPO ValuePoint Lease Order Form and Schedule indicates the lease is a $1 Buyout Capital Lease, Lessee understands that the Leased Equipment may be purchased for cash (the “Product Cost”) or purchased pursuant to this Agreement for a Time Price equal to the amount of each Lease Payment times the number of Lease Payments, all as set forth on the NASPO ValuePoint Lease Order Form and Schedule and this Agreement, plus the Purchase Option amount stated on the NASPO ValuePoint Lease Order Form and Schedule, and by signing this Agreement, Lessee has chosen to purchase the Leased Equipment for that Time Price. The Product Cost may be determined by dividing the Lease Payment by the lease rate factor set forth on the NASPO ValuePoint Lease Order Form and Schedule. Each Lease Payment under a $1 Buyout Capital Lease includes a part of Lessor’s investment in the Product Cost and a return on Lessor’s investment in the $1 Buyout Capital Lease. The total return on Lessor’s investment (the total finance charge) is determined by deducting the Product Cost (as determined above) from the Time Price. The difference so determined is the return to Lessor on its investment (the total finance charge). The rate of return (finance rate) may be determined by applying to the Product Cost, the rate that will amortize the Product Cost down to the Purchase Option amount by applying as payments, the Lease Payments. For purposes of that amortization, each Lease Payment will be considered received on the date it is required to be paid under this Agreement.

TIME PRICE. If the NASPO ValuePoint Toshiba Lease Order Form and Schedule indicates the lease is a $1 Buyout Capital Lease, Lessee understands that the Leased Equipment may be purchased for cash (the “Product Cost”) or purchased pursuant to this Agreement for a Time Price equal to the an amount of each Lease Payment times the number of Lease Payments, all less maintenance, as set forth on the NASPO ValuePoint Lease Order Form and Schedule and this Agreement, plus the $1 Purchase Option amount stated on the NASPO ValuePoint Lease Order Form and Schedule, and by signing this Agreement, Lessee Xxxxxx has chosen to purchase the Leased Equipment for that Time Priceprice. The Product Cost may be determined by dividing the Lease Payment by the lease rate factor set forth on the NASPO ValuePoint Lease Order Form and Schedule. Each Lease Payment under a $1 Buyout Capital Lease includes a part of Lessor’s investment in the Product Cost and a return on Lessor’s investment in the $1 Buyout Capital Lease. The total return on Lessor’s investment (the total finance charge) is determined by deducting the Product Cost (as determined above) from the Time Price. The difference so determined is the return to Lessor on its investment (the total finance charge). The rate of return (finance rate) may be determined by applying to the Product Cost, the rate that will amortize the Product Cost down to the Purchase Option amount by applying as payments, the Lease Payments. For purposes of that amortization, each Lease Payment will be considered received on the date it is required to be paid under this Agreement.