Common use of Acceptance of Surrender Clause in Contracts

Acceptance of Surrender. (a) As of the Expiration Date, if any Lease Default shall have occurred and be continuing under the Lease or the representations and warranties set forth in Section 7.5(h)-(m) of the Participation Agreement shall not be true and correct in any material respects, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2. (b) Except as otherwise expressly provided in this Lease, no surrender to Lessor of this Lease or of all or any portion of the Equipment or of any interest therein shall be valid or effective unless agreed to and accepted in writing by Lessor and, prior to the payment or performance of all obligations under the Credit Documents, the Agent, and no act by Lessor or the Agent or any representative or agent of Lessor or the Agent, other than a written acceptance, shall constitute an acceptance of any such surrender.

Acceptance of Surrender. (a) As Notwithstanding any prior election of the Lessee, if as of the Expiration Date, if any Lease Default shall have occurred and be continuing under the Lease or the representations and warranties set forth in Section 7.5(h)-(m) of the Participation Agreement shall not be true and correct in any material respectscontinuing, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2. (b) Except as otherwise expressly provided in this Lease, and without limiting Lessor's conveyance obligations in Section 19.1, no surrender to Lessor of this Lease or of all or any portion of the Equipment Property or of any interest therein shall be valid or effective unless agreed to and accepted in writing by Lessor and, prior to the payment or performance of all obligations under the Credit DocumentsOperative Agreements, the Collateral Agent, and no act by Lessor or the Collateral Agent or any representative or agent of Lessor or the Collateral Agent, other than a written acceptance, shall constitute an acceptance of any such surrender.

Acceptance of Surrender. (a) As of the Expiration Date, if any Lease ----------------------- Default shall have occurred and be continuing under the Lease or the representations and warranties set forth in Section 7.5(h)-(m) 7.5 of the Participation Agreement shall not be true and correct in any all material respects, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2. (ba) Except as otherwise expressly provided in this Lease, no surrender to Lessor of this Lease or of all or any portion of the Equipment Property or of any interest therein shall be valid or effective unless agreed to and accepted in writing by Lessor and, prior to the payment or performance of all obligations under the Credit Documents, the Agent, and no act by Lessor or the Agent or any representative or agent of Lessor or the Agent, other than a written acceptance, shall constitute an acceptance of any such surrender.

Acceptance of Surrender. (a) As of the Expiration Date, if any ----------------------- Lease Default shall have occurred and be continuing under the Lease or the representations and warranties set forth in Section 7.5(h)-(m) of the Participation Agreement shall not be true and correct in any material respects, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2. (b) Except as otherwise expressly provided in this Lease, no surrender to Lessor of this Lease or of all or any portion of the Equipment or of any interest therein shall be valid or effective unless agreed to and accepted in writing by Lessor and, prior to the payment or performance of all obligations under the Credit Documents, the Agent, and no act by Lessor or the Agent or any representative or agent of Lessor or the Agent, other than a written acceptance, shall constitute an acceptance of any such surrender.

Acceptance of Surrender. (a) As of the Expiration Date, if any Lease Default shall have occurred and be continuing under the Lease or the representations and warranties set forth in Section 7.5(h)-(m) Sections 7.5 and 7.7 of the Participation Agreement shall not be true and correct in any all material respects, then Lessee shall be deemed to have irrevocably exercised the Maturity Date Purchase Option pursuant to Section 20.2. (b) Except as otherwise expressly provided in this Lease, no surrender to Lessor of this Lease or of all or any portion of the Equipment Property or of any interest therein shall be valid or effective unless agreed to and accepted in writing by Lessor and, prior to the payment or performance of all obligations under the Credit Documents, the Agent, and no act by Lessor or the Agent or any representative or agent of Lessor or the Agent, other than a written acceptance, shall constitute an acceptance of any such surrender.