Lessee Purchase Option definition

Lessee Purchase Option shall have the meaning provided in Section 11.1(b) of the Lease.
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Lessee Purchase Option means, with respect to any Lease, the Lessee’s option under the Lease to purchase the related Leased Vehicle.
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Lessee Purchase Option shall have the meaning given such term in Section 12.3 of the Lease.
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Examples of Lessee Purchase Option in a sentence

  • Without limiting the foregoing, on and after the date Lessee elects or is deemed to have elected the Lessee Purchase Option or the Sale Option, Agent shall have the unconditional right to demand the execution and delivery by Lessee of bills of sale with respect to the Vehicles leased by Lessee or such documentation as may be necessary to cause title to the Vehicles to be recorded in the name of Agent, for the benefit of the Lessors.

  • If Lessee elects the Lessee Purchase Option, then on the Termination Date, Lessee shall purchase all (but not less than all) of the Vehicles for an amount equal to the applicable Termination Value.

  • The Head Lessee may exercise the Head Lessee Purchase Option by giving written notice (which notice shall be irrevocable) to the Head Lessor (with a copy to the Control Party and the Indenture Trustee) not more than 210 days prior to the Termination Date and not less than 180 days prior to the Termination Date (which election shall be irrevocable as of the 180th day prior to the Termination Date).

  • If Head Lessee shall have elected to exercise the Head Lessee Purchase Option, Head Lessee must demonstrate to Head Lessor and the Deal Agent (to the Deal Agent's satisfaction) that it has sufficient liquidity to exercise the Head Lessee Purchase Option and if the Head Lessee is unable to demonstrate such requisite level of liquidity the Head Lessee shall be deemed to have elected the Renewal Option.

  • If the Head Lessee shall be deemed to have elected the Renewal Option pursuant to the provisions of Section 20.1 or 20.2 hereof, then the Term of the related Lease Pool shall continue on the terms set forth herein until the earlier to occur of (x) the date on which an Indenture Event of Default occurs and (y) the date on which the Trigger Event is cured and the Head Lessee exercise the Head Lessee Purchase Option in accordance with the provision of Section 20.1 hereof.

  • If Head Lessee has not timely satisfied the obligations and conditions set forth in this Section 5 with respect to the redelivery of each and every Head Lessor Compressor in each Lease Pool, then Head Lessee shall be deemed to have exercised the Head Lessee Purchase Option set forth in Section 23 hereof, and Head Lessee shall pay to Head Lessor on the Termination Date the Purchase Option Amount with respect to all Head Lessor Compressors then subject to this Head Lease.

  • To the extent the Lessee elects to exercise the Lessee Purchase Option with respect to some, but not all of the Categories of Leased Equipment, the Leased Equipment not purchased by the Lessee shall be subject to the Sale Option as set forth in SECTION 12.4.

  • If Lessee elects the Lessee Purchase Option, then on the Termination Date Lessee shall purchase all (but not less than all) of the Equipment for an amount equal to the Lease Balance.

  • Lessee's election of the Lessee Purchase Option will be irrevocable at the time made, but if Lessee fails to make a timely election, Lessee will be deemed, in the case of the Lease Term and each Renewal Term then in effect (other than the last Renewal Term) to have irrevocably elected the Renewal Option and, in the case of the last Renewal Term, Lessee will be deemed to have irrevocably elected the Lessee Purchase Option.

  • The Head Lessee shall have the option to purchase all (but not less than all) of the Compressors in such terminating Lease Pool on the Termination Date for such Lease Pool for the Head Lessee Purchase Option Amount in accordance with the terms of this Section 20.1 (the "Head Lessee Purchase Option").


More Definitions of Lessee Purchase Option

Lessee Purchase Option. The option to purchase the skilled nursing facilities listed below granted by Lender to Affiliates of Borrowers pursuant to the Master Lease. The skilled nursing facilities covered by the Lessee Purchase Option are: Northwestern Center 500 Xxxxx Xxxxx Xxxxx Xxxxx Xxxxx XX 00000 Golden Years Healthcare Center 2000 Xxxxx Xxxxxx Xxxxxxxxxx XX 00000 Columbus Center 4000 Xxxxx Xxxx, Xxxxx Xxxxxxxx XX 00000 Oak Grove Center 600 Xxxx Xxxxx Xxxxxx Xxxxxxx XX 00000
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Related to Lessee Purchase Option

  • Purchase Option As defined in Section 3.18(c).

  • Purchase Option Notice As defined in Section 3.18(e).

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2023-1 Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2023-1 Vehicle for which the related 2023-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related 2023-1 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Lease-purchase agreement means an agreement for the use of personal property by an individual for personal, family or household purposes, for an initial period of four months or less, that is automatically renewable with each payment after the ini- tial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property.

  • Option Securities shall have the meaning ascribed to such term in Section 2.2(a).

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Option Warrants shall have the meaning ascribed to such term in Section 2.2(a).

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • Rental-purchase agreement means an agreement for the use of personal property by a lessee primarily for personal, family, or household purposes, for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the lessee to become the owner of the property. Rental-purchase agreements shall not include any of the following:

  • Option Units means the Common Units that the Partnership will agree to issue upon an exercise of the Over-Allotment Option.

  • Share Purchase Agreement has the meaning set forth in the Recitals.

  • Option Shares shall have the meaning ascribed to such term in Section 2.2(a).

  • Option means a stock option granted pursuant to the Plan.

  • Series A Purchase Agreement means the Series A Preferred Unit Purchase Agreement, dated as of June 20, 2017, by and among the Partnership and the Series A Purchasers thereunder, as may be amended from time to time.

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Founder Shares Purchase Agreement shall have the meaning given in the Recitals hereto.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Renewal Option has the meaning set forth in §12.1.

  • Landlord Agreement means an agreement substantially in the form provided by Lender to Borrower or such other form as Lender may agree to accept.

  • Private Placement Warrants Purchase Agreement shall have the meaning given in the Recitals hereto.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).