option lease definition

option lease means a lease that gives the lessee the right to acquire title to or retain permanent possession of the leased goods by making a payment in addition to the payments required under the lease or by satisfying other specified conditions;
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option lease means any lease entered into by the Company or any of its Restricted Subsidiaries in respect of any of the Option Properties.
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option lease means a lease that gives the lessee the option of acquiring title to the leased goods by making a payment in addition to the periodic payments required under the lease; (“bail avec option”)
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Examples of option lease in a sentence

  • The Rent Amount for the Initial Lease, the Second Lease, the Option Lease, and any Expansion Lease shall be adjusted on each anniversary of the Execution Month as provided in Section 5.B of the Pipeline Lease Agreement (which is entitled “Base Rent Adjuster”).

  • For the sake of clarity, the Expansion Lease provided for in this Section 4 of the Amendment would be in addition to the Initial Lease (as amended in this Amendment), the Second Lease, and the Option Lease provided for in the Pipeline Lease Agreement.

  • In addition, xxx Xurlington Purchase Option Lease shall be in full force and effect.

  • The Conveyed Interest in any Option Lease that Buyer elects to purchase as provided in this Section 5.7(a) shall be referred to hereunder as a “New Lease”.

  • Lessee's lease of the Option Lease during the Third Renewal Term will be upon the same terms as for the Third Initial Term, except that the Pipeline Lease Agreement Base Rent (hereinafter defined) will adjust as hereinafter provided and at the end of the Third Renewal Term, Lessee will have no further right to renew this Option Lease.

  • In the event Tenant exercises its Option (pursuant to the terms and conditions of the Option Agreement), it is hereby agreed that following the Lease Commencement Date of the Option Lease, the Term of this Lease and the Building 6 Lease shall be extended such that the scheduled Termination Dates of the Initial Leases coincide with the scheduled termination date of the Option Lease (“Initial Lease Term Extension Period”).

  • Except as set forth in Exhibit A and except for any Option Lease or New Lease, Seller does not own any other oil and gas lease covering lands within the DSUs specifically described on Exhibit A.

  • If Tenant exercises its Option to Extend under any of the Leases, either of the Initial Leases and/or the Option Lease, the monthly Basic Rent and Security Deposit during the First Extended Term and/or the Second Extended Term under each of the Leases shall be determined pursuant to the terms of Paragraph 46 (“Two (2) — Five (5) Year Options to Extend”).

  • Buyer may elect to purchase the Conveyed Interest in and to each such Option Lease by written notification of such election delivered to Seller within five (5) Business Days after receiving written notice of the acquisition from Seller.

  • In the event the Lessee exercise the Lease Option, the Initial Term of the Option Lease ("Third Initial Term") will commence eighteen months after the Lessor receives written notice of the Lessee's exercise of the Lease Option (Option Commencement Date) provided such notice is received during the period commencing August 1, 2000 and ending August 1, 2005, and such Initial Term will expire on the last day of the calendar month in which the tenth (10th) anniversary thereof occurs.


More Definitions of option lease

option lease means an option for leased premises until commencement of the applicable Ground Lease.
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option lease means the further lease of the Premises for the further term specified in Item 7.
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option lease shall have the meaning set forth in Section 5.1(b).
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Related to option lease

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

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

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • 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.

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

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

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

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • car-share parking space means a parking space that is reserved and actively used for car-sharing;

  • Option Agreement means a written agreement between the Company and an Optionholder evidencing the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan.