Lease Option definition

Lease Option means a type of contractual agreement whereby a party has the option to lease property when certain conditions are met. In the context of the Edwards Aquifer Habitat Conservation Plan, the Edwards Aquifer Authority is charged with entering into such contracts with the option to lease an Edwards Aquifer Authority Groundwater Withdrawal Permit becoming actionable upon the existence of a specific ten-year rolling recharge average. The difference between a Lease Option and a Forbearance Agreement is that a Lease Option is a

Lease Option shall have the meaning assigned to that term in the recitals hereto.

Lease Option means a type of contractual agreement whereby a party has the option to lease property when certain conditions are met. In the context of the Edwards Aquifer Habitat Conservation Plan, the Edwards Aquifer Authority is charged with entering into such contracts with the option to lease an Edwards Aquifer Authority Groundwater

Examples of Lease Option in a sentence

• The Lease Option to Purchase Agreement was for 91 acres of surface rights and 2,750 aces of mineral rights associated with the I-M Property (“BET properties”).

• The Lease Option includes a capped $5 million less net returns royalties paid through the date of exercise.

• Under the Lease Option, SMMI pays an advance $5,000 net returns royalty to OGT annually on November 4 which is distributed to OGT’s minority member.

• Broker will not obtain or order products or services from outside sources (e.g., surveys, soil tests, title reports, inspections) without the prior consent of Buyer, unless provided by the Contract of Sale, Lease, Option or Exchange of Real Estate.

• If subsequent to this Agreement, either Party's records indicate a discrepancy or errors in the record of Lease Option Payments made by Tenant which payments are applicable to offset, then the Parties shall work in good faith to adjust and correct said records.

More Definitions of Lease Option

Lease Option shall have the meaning set forth in Section 2.1.

Lease Option means an operating lease for acquiring tangible equipment and "lease purchase options" means a capital lease for acquiring tangible equipment. The City of Hobbs can enter into either an operating lease or a capital lease in acquiring tangible equipment. Thresholds still apply as to the total value of the leased asset. All lease agreements valued at undersixty thousand dollars ($60,000.00) seventy five thousand dollars ($75,000.00) must be signed by the City Manager or designee. All lease agreements with tangible equipment valued at over sixty thousand dollars ($60,000.00) seventy five ($75,000.00) must be processed through bidding, request for proposal, GSA, or cooperative purchasing and be approved by the City Commission.

Lease Option means Potash Ridge's option under the Exploration and Option Agreement to convert its exclusive exploration right on the Blawn Mountain Project into a mineral lease at any time during the Option Period.

Lease Option means the certain Lease Option Agreement dated April 1, 2013, as amended from time to time, by and between UWMIP and FEC, as the same may be assigned or replaced with the consent of Developer, which consent may be withheld for any reason. A copy of the current Lease Option has been provided to the City.

Lease Option means the option dated granting to the Company the option to enter into the Site Lease.

Lease Option means the Agreement for Lease Option, dated March 23, 2001, between the Brazos River Harbor Navigation District and Crest Investment Company ("Crest"), which Crest later assigned to Freeport LNG Terminal, LLC, an indirect wholly owned subsidiary of Cheniere, pursuant to an Assignment of Lease Option. The Lease Option means both the Agreement for Lease Option and Assignment of Lease Option.

Lease Option has the meaning set forth in Section 3.15(a).