Purchase Option Price definition

Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2023-2 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 2023-2 Vehicle for which the related 2023-2 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 2023-2 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

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Purchase Option Price means, with respect to each Note A, the sum of the following, without duplication: (i) the Principal Balance of such Note (as of the date of purchase), (ii) accrued and unpaid interest on the Principal Balance of such Note at the Interest Rate applicable to such Note, up to (but excluding) the date of purchase (or, if such Note has been deposited into a Securitization, if such date of purchase is not a Payment Date, up to (but excluding) the Payment Date next succeeding the date of purchase), provided payment is made in good funds by 3:00 p.m. New York local time, (iii) any unreimbursed Note A Holder Advances made by or on behalf of the Holder of such Note and interest thereon at the Advance Rate, (iv) any accrued and unpaid Servicing Fees, (v) any Special Servicing Fees and Liquidation Fees (but excluding any such Liquidation Fees if such Note is purchased within 90 days of the purchasing Holder’s receipt of the applicable Purchase Option Notice) and (vi) any unreimbursed Costs incurred by the Holder of such Note. In determining the Purchase Option Price, amounts payable by the Mortgage Loan Borrower as a Prepayment Premium, default interest, Penalty Charges and other similar fees and the value of such amounts shall not be included; provided, that such amounts shall be included if the Person exercising the purchase option is a Borrower Party. Solely for purposes of this calculation, (A) the Liquidation Fee rate shall not exceed one percent (1.0%) of any liquidation proceeds received on the Mortgage Loan; and (B) the special servicing fee shall not exceed twenty-five basis points (0.25%) per annum of the outstanding principal balance of the Mortgage Loan, subject to a monthly minimum fee not to exceed $5,000 as and to the extent set forth in the Lead Note A PSA.

Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2016-2 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 2016-2 Vehicle for which the related 2016-2 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 2016-2 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

Examples of Purchase Option Price in a sentence

• If there are no Net Proceeds for whatever reason or if the Net Proceeds are insufficient to pay in full the cost of any replacement or repair of the Vehicles, then Lessee shall, at the option of Lessor, either complete such replacement or repair and pay any costs thereof in excess of the amount of the Net Proceeds or apply the Net Proceeds to the Purchase Option Price and pay the deficiency to the Lessor.

• In no event may the Improvements be sold for a price that exceeds the Purchase Option Price.

• The Purchase Option Price shall be the lesser of (a) the value of the Improvements as determined by the Appraisal commissioned and conducted as provided in 10.5 above or (b) the price calculated in accordance with the formula described below (the “Formula Price”).

• Ownership of the Improvements shall thereupon revert to Lessor, provided, however, that Lessor shall promptly pay to Lessee as consideration for the Improvements an amount equal to Lessor’s Purchase Option Price calculated in accordance with Article 10 below, as of the time of reversion of ownership, less the total amount of any unpaid Ground Lease Fee including any charges that may have been added to the Ground Lease Fee in accordance with this Lease.

• In the case of an assignment, the total consideration for such assignment and the related sale or transfer of the Improvements shall not exceed the Purchase Option Price as calculated in accordance with Article 10 above.

More Definitions of Purchase Option Price

Purchase Option Price shall have the meaning set forth in the Tax Equity Financing Documents.

Purchase Option Price is defined in Section 18.1 of the Master Lease.

Purchase Option Price means an amount equal to the amount required to defease or otherwise discharge the Bonds under the Trust Agreement plus the amount of any Additional Payments which are due or accrued hereunder at the time which any purchase option hereunder is exercised.

Purchase Option Price is defined in Section 20.1 of the Lease.

Purchase Option Price means the greater of (i) the fair market value of the Class B Membership Interests on the Purchase Option Date as determined by agreement between Class B Member transferring its Class B Membership Interests and the Class A Members and (ii) an amount sufficient to cause Class B Member to achieve an Internal Rate of Return equal to [***]%; provided, however, that should Class B Member transferring its Class B Membership Interests and the Class A Members fail to agree on such fair market value within 30 days of the date on which the Purchase Option Exercise Notice is provided, such fair market value shall be determined by the Appraisal Method which shall be then automatically invoked unless all of the Members otherwise agree in writing.

Purchase Option Price the maximum price the Homeowner is allowed to receive for the sale of the Home and the Homeowner’s right to possess, occupy and use the Leased Land, as defined in Article 10 of this Lease.

Purchase Option Price shall have the meaning set forth in Section 20.1 of the Lease.