Early Termination Option definition

Early Termination Option. (or “ETO”) means an option in favor of a player to shorten the stated number of years covered by a Player Contract in accordance with Article XII.

Early Termination Option means the Lessee’s option to purchase all, but not less than all, of the Leased Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option shall have the meaning provided in Section 20.1 of the Lease.

Examples of Early Termination Option in a sentence

• Unless an Event of Default under the Lease has occurred and is continuing, Lessee may, upon not less than sixty (60) but no more than one hundred eighty (180) days prior notice to Lessor, exercise the Early Termination Option on a Rental Payment Date specified in such notice, provided that a Lessee that is a Government Body may only exercise the Early Termination Option with the consent of Master Lessee, which consent shall be provided in writing to Lessee and Lessor.

• On the date specified in Lessee’s notice of its desire to exercise the Early Termination Option, Lessee shall pay to Lessor the Termination Value corresponding to the Rental Payment Date on which the Lease Term is to end.

• After exercise of the Early Termination Option, (i) if any Equipment remains under the Lease, Rental Payments and Termination Values shall be prorated by Equipment Cost, or (ii) if no Equipment remains under the Lease, the Lease shall be terminated and the parties shall have no further liability thereunder.

• The Lease Term for each item of Equipment will commence as provided in Section 1.09 and terminate upon the earliest to occur of any of the following events: the termination of the applicable Lease pursuant to Section 5.05; Xxxxxx’s exercise of the Early Termination Option as to such Equipment; An Event of Default by Xxxxxx and Xxxxxx’s subsequent election to terminate or cancel the Lease; or the expiration of the Lease Term, either 36, 48, or 60 months as specified in the Lease Schedule.

• Lessee may exercise the Early Termination Option or an end of term option as more fully set forth under the Master Agreement.

More Definitions of Early Termination Option

Early Termination Option shall have the meaning provided in Section 14.1(a).

Early Termination Option means Lessee’s option to purchase all of Lessor’s right, title and interest in and to, and obtain release of Lessor’s security interest in, all Equipment leased under any Lease, or any lesser portion thereof specified by Lessee, as provided in Section 3.03.

Early Termination Option has the meaning provided in Section 4.2.

Early Termination Option means the Lessee’s option to purchase the Subject Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option means Lessee’s option to purchase all, but not less than all, of the Leased Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option means the Lessee's option to purchase the Leased Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option shall have the meaning ascribed to it in Section 43.1 of this Lease.