{"component": "definition", "props": {"groups": [{"samples": [{"hash": "fH9ybPfazzA", "uri": "https://www.michigan.gov/dtmb/-/media/Project/Websites/dtmb/Procurement/Contracts/008/190000000360.pdf", "label": "Notice", "score": 13.5557837098, "published": false}, {"hash": "gRTZhoyabEK", "uri": "https://www.michigan.gov/documents/dtmb/190000000361_652085_7.pdf", "label": "www.michigan.gov", "score": 8.5845311431, "published": false}, {"hash": "7k4yYqEuPSq", "uri": "https://www.michigan.gov/dtmb/-/media/Project/Websites/dtmb/Procurement/Contracts/009/190000000363.pdf", "label": "www.michigan.gov", "score": 8.5571526352, "published": false}], "snippet": "means the State's option to purchase all of Lessor's right, title and interest in and to, all Equipment leased under any Lease, or any lesser portion thereof specified by the State, as provided in Section 12.", "size": 6, "snippet_links": [{"key": "option-to-purchase", "type": "clause", "offset": [18, 36]}, {"key": "title-and-interest", "type": "clause", "offset": [60, 78]}, {"key": "equipment-leased", "type": "clause", "offset": [94, 110]}, {"key": "any-lease", "type": "definition", "offset": [117, 126]}, {"key": "by-the-state", "type": "clause", "offset": [168, 180]}, {"key": "section-12", "type": "definition", "offset": [197, 207]}], "hash": "6aa481e9f7bd14bd18867d947b87bb46", "id": 1}, {"samples": [{"hash": "ae8wJAVG4cG", "uri": "/contracts/ae8wJAVG4cG#early-purchase-option", "label": "Equipment Lease Agreement (Trinity Industries Inc)", "score": 23.1368925394, "published": true}, {"hash": "gEaiKQaE3Eq", "uri": "/contracts/gEaiKQaE3Eq#early-purchase-option", "label": "Equipment Lease Agreement (Trinity Industries Inc)", "score": 18.0, "published": true}, {"hash": "eUeOnqWi0zr", "uri": "/contracts/eUeOnqWi0zr#early-purchase-option", "label": "Equipment Lease Agreement (Trinity Industries Inc)", "score": 18.0, "published": true}], "snippet": "means the purchase option provided the Lessee in Section 22.1 of the Lease.", "size": 5, "snippet_links": [{"key": "the-purchase-option", "type": "clause", "offset": [6, 25]}, {"key": "the-lessee", "type": "clause", "offset": [35, 45]}, {"key": "section-221", "type": "clause", "offset": [49, 61]}, {"key": "the-lease", "type": "clause", "offset": [65, 74]}], "hash": "d3cc6cbd19070875d0e170e147ef7a96", "id": 2}, {"samples": [{"hash": "7zDTZ5EhN7B", "uri": "/contracts/7zDTZ5EhN7B#early-purchase-option", "label": "Master Lease Agreement (HMT Technology Corp)", "score": 18.0, "published": true}], "snippet": "As long as no event of default exists or will exist given the passage of time or the giving of notice or both, Lessee will, with ninety (90) days prior written notice, have the option to purchase all, but not less than all, of the Equipment under this Rental Schedule on October 9, 2002 (the \"Early Purchase Date\") by paying Lessor an amount equal to ($376,878.87) (30% of the Acquisition Cost of the Equipment) plus all other amounts then due and payable under the Rental Schedule as of the Early Purchase Date. Such Early Purchase Option purchase amount includes consideration to Lessor for Lessee's recapture of the tax benefits.", "size": 4, "snippet_links": [{"key": "no-event-of-default-exists", "type": "clause", "offset": [11, 37]}, {"key": "passage-of-time", "type": "clause", "offset": [62, 77]}, {"key": "giving-of-notice", "type": "clause", "offset": [85, 101]}, {"key": "lessee-will", "type": "clause", "offset": [111, 122]}, {"key": "prior-written-notice", "type": "clause", "offset": [146, 166]}, {"key": "option-to-purchase", "type": "clause", "offset": [177, 195]}, {"key": "the-equipment", "type": "clause", "offset": [227, 240]}, {"key": "rental-schedule", "type": "definition", "offset": [252, 267]}, {"key": "early-purchase-date", "type": "definition", "offset": [293, 312]}, {"key": "equal-to", "type": "definition", "offset": [342, 350]}, {"key": "cost-of", "type": "definition", "offset": [389, 396]}, {"key": "other-amounts", "type": "definition", "offset": [421, 434]}, {"key": "due-and-payable", "type": "definition", "offset": [440, 455]}, {"key": "the-rental", "type": "clause", "offset": [462, 472]}, {"key": "option-purchase-amount", "type": "definition", "offset": [533, 555]}, {"key": "consideration-to-lessor", "type": "clause", "offset": [565, 588]}, {"key": "tax-benefits", "type": "clause", "offset": [619, 631]}], "hash": "92b9f9a95c4dcacc54a23cd68bee132f", "id": 3}, {"samples": [{"hash": "bL7TmB1iTAj", "uri": "/contracts/bL7TmB1iTAj#early-purchase-option", "label": "Loan Agreement (Lam Research Corp)", "score": 18.0, "published": true}, {"hash": "g5RECHqjVgj", "uri": "https://investor.lamresearch.com/static-files/b4189a80-7946-4213-af50-926f75b29ec2", "label": "investor.lamresearch.com", "score": 8.9356605065, "published": false}], "snippet": "means the Lessee's option to purchase a Property in accordance with the provisions of Section 18.1 of the Master Lease.", "size": 2, "snippet_links": [{"key": "the-lessee", "type": "clause", "offset": [6, 16]}, {"key": "option-to-purchase", "type": "clause", "offset": [19, 37]}, {"key": "in-accordance-with", "type": "definition", "offset": [49, 67]}, {"key": "section-181", "type": "clause", "offset": [86, 98]}, {"key": "the-master-lease", "type": "clause", "offset": [102, 118]}], "hash": "f92acdf839c2e091a1bc64ed15405c47", "id": 4}, {"samples": [{"hash": "f7OkHzpYO2d", "uri": "/contracts/f7OkHzpYO2d#early-purchase-option", "label": "Aircraft Lease Agreement (Mandalay Resort Group)", "score": 21.0, "published": true}], "snippet": "Option Date: N/A. Option Price $N/A.", "size": 2, "snippet_links": [{"key": "option-date", "type": "definition", "offset": [0, 11]}, {"key": "option-price", "type": "definition", "offset": [18, 30]}], "hash": "e7723802f025b7b90a665ac41f065611", "id": 5}, {"samples": [{"hash": "5It0puykKxM", "uri": "/contracts/5It0puykKxM#early-purchase-option", "label": "Aircraft Lease Agreement (Centene Corp)", "score": 18.0, "published": true}], "snippet": "Option Date No. 1) January 2, 2007. Option Date No. 2) January 2, 2011) Option Price No. 1) $16,596,634.32 Option Price No. 2) $ 14,009,092.98", "size": 1, "snippet_links": [{"key": "date-no", "type": "clause", "offset": [7, 14]}, {"key": "option-price", "type": "definition", "offset": [72, 84]}], "hash": "fa0f18cc4264f73f296ca655537e46e5", "id": 6}, {"samples": [{"hash": "der7wu7I9Xq", "uri": "/contracts/der7wu7I9Xq#early-purchase-option", "label": "Rental Purchase Agreement", "score": 27.0533880903, "published": true}], "snippet": "Any time after 90 days from delivery of the Property you will own the Property when you pay to us, in a lump sum payment, all past due payments and fees and an amount equal to the Cash Price minus 45% of all periodic rental payments you have already made. If you have not exercised either of these options see \u00a7 5 for additional information. Applicable sales tax will be added to all payments.", "size": 1, "snippet_links": [{"key": "any-time", "type": "definition", "offset": [0, 8]}, {"key": "delivery-of-the-property", "type": "clause", "offset": [28, 52]}, {"key": "pay-to", "type": "definition", "offset": [88, 94]}, {"key": "lump-sum-payment", "type": "clause", "offset": [104, 120]}, {"key": "payments-and-fees", "type": "clause", "offset": [135, 152]}, {"key": "equal-to", "type": "definition", "offset": [167, 175]}, {"key": "cash-price", "type": "definition", "offset": [180, 190]}, {"key": "rental-payments", "type": "clause", "offset": [217, 232]}, {"key": "for-additional-information", "type": "clause", "offset": [314, 340]}, {"key": "sales-tax", "type": "definition", "offset": [353, 362]}, {"key": "all-payments", "type": "definition", "offset": [380, 392]}], "hash": "2c95b55d444218f405029fa8d505327d", "id": 7}, {"samples": [{"hash": "gDL8znlP4Hk", "uri": "/contracts/gDL8znlP4Hk#early-purchase-option", "label": "Participation Agreement (Tennessee Valley Authority)", "score": 21.0, "published": true}], "snippet": "shall have the meaning specified in Section 15.1 of the Network Lease.", "size": 1, "snippet_links": [{"key": "section-151", "type": "clause", "offset": [36, 48]}, {"key": "the-network", "type": "clause", "offset": [52, 63]}], "hash": "49628bab089963596cfa697383ea13bb", "id": 8}, {"samples": [{"hash": "hpEtGyps311", "uri": "/contracts/hpEtGyps311#early-purchase-option", "label": "Aircraft Lease Agreement (Air Methods Corp)", "score": 18.0, "published": true}], "snippet": "shall have the meaning set forth in Section 7 ---------------------- --------- hereof.", "size": 1, "snippet_links": [{"key": "section-7", "type": "clause", "offset": [36, 45]}], "hash": "daee0d8398c63b7f55e981fd4a11dd59", "id": 9}, {"samples": [{"hash": "28dp98gUsBh", "uri": "/contracts/28dp98gUsBh#early-purchase-option", "label": "Aircraft Lease Agreement (Autocam Corp/Mi)", "score": 18.0, "published": true}], "snippet": "Option Date: 84 months from the Basic Term Commencement Date Option Price: $4,246,830.00 14. Expiration Date: November 11, 2013 15. Daily Lease Rate Factor: 84 @ .00020457; 96 @.00024719. 16. Basic Term Lease Rate Factor: Factor Rental No. .00613714 1-84 .00741571 85-180", "size": 1, "snippet_links": [{"key": "option-date", "type": "definition", "offset": [0, 11]}, {"key": "basic-term-commencement-date", "type": "clause", "offset": [32, 60]}, {"key": "option-price", "type": "definition", "offset": [61, 73]}, {"key": "expiration-date", "type": "clause", "offset": [93, 108]}, {"key": "daily-lease-rate-factor", "type": "clause", "offset": [132, 155]}, {"key": "term-lease", "type": "clause", "offset": [198, 208]}], "hash": "9541de9983e97470a066936575b1a15c", "id": 10}], "next_curs": "CmISXGoVc35sYXdpbnNpZGVyY29udHJhY3Rzcj4LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIeZWFybHktcHVyY2hhc2Utb3B0aW9uIzAwMDAwMDBhDKIBAmVuGAAgAA==", "definition": {"snippet": "means the State's option to purchase all of Lessor's right, title and interest in and to, all Equipment leased under any Lease, or any lesser portion thereof specified by the State, as provided in Section 12.", "size": 25, "title": "Early Purchase Option", "id": "early-purchase-option", "examples": ["If Lessee exercises its <strong>Early Purchase Option</strong> and the Basic Rent Adjustment is negative and Lessee pays all other amounts due in relation to such exercise, then Lessee shall pay an amount equal to the Early Purchase Price less the absolute value of the amount of such Basic Rent Adjustment listed on Schedule 6 to the Participation Agreement in respect of the purchased Units (as a rebate of Basic Rent and not as a reduction in the applicable Early Purchase Price).", "If the property is lost or destroyed, your liability will not be greater than the <strong>Early Purchase Option</strong> calculated at the time of loss or destruction.", "If Lessee exercises the <strong>Early Purchase Option</strong> and the Basic Rent Adjustment is positive, Lessee shall pay an amount equal to the Early Purchase Price plus the Basic Rent Adjustment in respect of such purchased Units (as a payment of additional Basic Rent).", "If Lessee exercises its <strong>Early Purchase Option</strong> and the Basic Rent Adjustment is negative and Lessee pays all other amounts due in relation to such exercise, then Lessee shall pay an amount equal to the Early Purchase Price less the absolute value of the amount of such Basic Rent Adjustment listed on Schedule 6 to the Participation Agreement (as a rebate of such Basic Rent and not as a reduction in Early Purchase Price).", "If Lessee exercises the <strong>Early Purchase Option</strong> and the Basic Rent Adjustment is positive, Lessee shall pay an amount equal to the Early Purchase Price plus the Basic Rent Adjustment (as a payment of accrued, but unpaid Basic Rent and not an increase in the Early Purchase Price).", "If Lessee exercises the <strong>Early Purchase Option</strong> and the Basic Rent Adjustment is positive, Lessee shall pay an amount equal to the Early Purchase Price plus the Basic Rent Adjustment (as a payment of accrued, but Lease Agreement (TRLI 2001-1B) unpaid Basic Rent and not an increase in the Early Purchase Price).", "No notice of intent to exercise an <strong>Early Purchase Option</strong> or termination may be revoked without prior written consent of the Lessor.", "Lessee may a) exercise an <strong>Early Purchase Option</strong>, if applicable; or b) terminate any Equipment Schedule effective at the expiration of the Initial Lease Term or any renewal term thereof; by giving the Lessor at least sixty (60) days prior written notice.", "The Lease shall not be deemed terminated unless, on the <strong>Early Purchase Option</strong> Date, (i) Lessor receives the amounts specified in the preceding sentence in indefeasible funds, and (ii) Lessee satisfies any and all other conditions imposed by Lessor with respect to the sale of the Aircraft.", "If the parties hereto are unable to agree on such a structure then the Lessee may elect to purchase all the Properties pursuant to its <strong>Early Purchase Option</strong> contained in Section 18.1 of the Lease."], "related": [["purchase-option-notice", "Purchase Option Notice", "Purchase Option Notice"], ["purchase-option-price", "Purchase Option Price", "Purchase Option Price"], ["purchase-option-period", "Purchase Option Period", "Purchase Option Period"], ["repurchase-option", "Repurchase Option", "Repurchase Option"], ["purchase-option", "Purchase Option", "Purchase Option"]], "related_snippets": [], "updated": "2025-07-06T21:56:50+00:00"}, "json": true, "cursor": ""}}