END OF BASIC TERM OPTIONS Clause Samples

END OF BASIC TERM OPTIONS. At the expiration of the Basic Term (the "BASIC TERM EXPIRATION DATE"), so long as no default has occurred and is continuing hereunder and this Agreement has not been earlier terminated, Lessee shall exercise one of the following options:
View SourceView Similar (7)
END OF BASIC TERM OPTIONS. At the end of the Basic Term, Lessee shall have only the options specified in this Section XX: (a) So long as Lessee shall not have exercised its option to terminate this Lease pursuant to Section XVIII hereof nor exercised its Early Purchase Option pursuant to Section XIX hereof, and provided that Lessee is not then in default under this Lease or any other agreement between Lessor and Lessee, Lessee shall have the option, upon the expiration of the Basic Term of any Schedule, to renew the Lease with respect to all, but not less than all, of the Equipment leased thereunder for an additional term of twelve (12) months (the "Renewal Term") at a lease rate factor of 2.0740%. If Lessee desires to exercise this option, it shall give Lessor written notice of its election to renew not less than 90 days nor more than 180 days before the expiration of the Basic Term of such Schedule. (b) So long as Lessee shall not have exercised its option to terminate this Lease pursuant to Section XVIII hereof nor exercised its Early Purchase Option pursuant to Section XIX hereof, nor exercised its option to renew pursuant to subparagraph (a) of this Section, and provided that Lessee is not then in default under this Lease or any other agreement between Lessor and Lessee, Lessee shall have the option, upon the expiration of the Basic Term of any Schedule, to return or to purchase, for the applicable Realized Value (as defined below), all (but not less than all) of the Equipment leased under such Schedule upon the following terms and conditions:
View SourceView Similar (2)
END OF BASIC TERM OPTIONS. Notwithstanding anything in the Master Lease to the contrary, on the Scheduled Expiration Date (as defined below) of the Basic Term of an Equipment Group, with respect to all (but not less than all) of the Equipment (such term is used herein as defined in the Schedule) in such Equipment Group, Lessee shall (i) return the Equipment or (ii) purchase the Equipment or (iii) extend the Term of the Schedule, in each case upon the following terms and conditions, provided that no Default or Event of Default has occurred at any time prior to the date such option is effectuated.
View Source
END OF BASIC TERM OPTIONS. Section 15.1 The Facility Lessee's Purchase and Return Options. Unless this Facility Lease shall have been previously terminated pursuant to Section 10, 13, 14, 17 or 18 hereof, at any time not more than forty-eight months nor less than eighteen months prior to the Expiration Date, the Facility Lessee shall have the option, upon giving written notice to the Facility Lessor and the Owner Participant, (A) to irrevocably elect to purchase the Undivided Interest on the Expiration Date for the Purchase Option Price in accordance with this Section 15.1 (the "Purchase Option") or (B) to irrevocably elect to return the Undivided Interest to the Facility Lessor in accordance with Section 5 (the "Return Option"). If the Facility Lessee shall have elected the Return Option, on the Expiration Date it shall return the Undivided Interest to the Facility Lessor in accordance with the provisions of Section 5 of this Facility Lease. If the Facility Lessee shall have exercised the Purchase Option, the Facility Lessee shall become unconditionally obligated to pay (a) on the Expiration Date (i) the initial installment of the Purchase Option Price in the amount of $302,435,484.77 (which installment, in any event, shall be at least equal to the outstanding principal balance of the Loan Certificate on the Expiration Date), (ii) all amounts of Supplemental Rent (including, without limitation, all costs and expenses of the Facility Lessor, the Trustees, the Owner Participant and the Lender and all sales, use, value added and other Taxes covered by Section 12.2 of the Participation Agreement associated with the Purchase Option) due and payable on the Expiration Date, and (iii) any unpaid Basic Rent due before the Expiration Date and the Basic Rent due and payable on the Expiration Date and (b) subsequent installments of the Purchase Option Price in the amounts and on the dates set forth below: Date Amount ---- ------ 4/15/2027 $ 38,600,899.58 6/15/2027 $ 38,600,899.58 9/15/2027 $ 38,600,899.58 12/15/2027 $ 38,600,899.58 The covenant to pay the subsequent installments of the Purchase Option Price in accordance with the preceding sentence shall survive the termination of this Facility Lease. The Qualifying Equity Funding Agreement shall continue to secure the Facility Lessee's obligation to pay the subsequent installments of the Purchase Option Price and this covenant shall also survive the termination of this Facility Lease. Concurrently with the payment of the sums specified in cla...
View Source
END OF BASIC TERM OPTIONS. The PURCHASE OPTION Section subsection (a) of the Lease is hereby deleted in its entirety and the following substituted in its stead: END OF LEASE PURCHASE OPTION: Lessee may, at lease expiration, purchase all (but not less than all) of the Equipment on any Schedule on an AS IS BASIS for cash equal to the amount indicated on such Schedule (the "Option Payment"), plus all applicable sales taxes. The Option Payment, plus all applicable sales taxes, shall be due and payable in immediately available funds on the expiration date of such Schedule. Lessee must notify Lessor of its intent to purchase the Equipment in writing at least one hundred eighty (180) days prior to the expiration date of the Schedule. If Lessee is in default, or if the Schedule or this Agreement has already been terminated, Lessee may not purchase the Equipment.
View Source
END OF BASIC TERM OPTIONS. The PURCHASE OPTION Section subsection (a) of the Lease is hereby amended to read in its entirety as follows:
View Source

Related to END OF BASIC TERM OPTIONS

  • Lessor Termination Option If a Hazardous Substance Condition occurs during the term of this Lease, unless Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by the Applicable Requirements and this Lease shall continue in full force and effect, but subject to Lessor's rights under Paragraph 6.2(d) and Paragraph 13), Lessor may, at Lessor's option, either (i) investigate and remediate such Hazardous Substance Condition, if required, as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) if the estimated cost to remediate such condition exceeds twelve (12) times the then monthly Base Rent or $100,000, whichever is greater, give written notice to Lessee, within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such Hazardous Substance Condition, of Lessor's desire to terminate this Lease as of the date sixty (60) days following the date of such notice. In the event Lessor elects to give a termination notice, Lessee may, within ten (10) days thereafter, give written notice to Lessor of Lessee's commitment to pay the amount by which the cost of the remediation of such Hazardous Substance Condition exceeds an amount equal to twelve (12) times the then monthly Base Rent or $100,000, whichever is greater. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within thirty (30) days following such commitment. In such event, this Lease shall continue in full force and effect, and Lessor shall proceed to make such remediation as soon as reasonably possible after the required funds are available. If Lessee does not give such notice and provide the required funds or assurance thereof within the time provided, this Lease shall terminate as of the date specified in Lessor's notice of termination.

  • Additional Termination Rights 3.1 In addition to any other termination rights in the Agreement, UBS shall have the right to terminate the Agreement on thirty

  • Landlord’s Termination Right Whether or not the Premises are affected, Landlord may, by notice to Tenant, within 60 days following the date upon which Landlord receives notice of the Taking of all or a portion of the Real Property, the Building or the Premises, terminate this Lease, provided that Landlord elects to terminate leases (including this Lease) affecting at least 50% of the rentable area of the Building.

  • Effective Term and Termination Rights This Agreement becomes effective when executed by both parties and shall continue in effect until terminated. The Agreement may be terminated in accordance with the following: (a) If Member desires to terminate the Agreement, Cooperative will agree to such termination if Cooperative is satisfied that Member no longer can operate Member’s Generator in parallel with Cooperative’s system at the premises and all bills for services previously rendered to Member, plus any applicable termination charges as specified in Exhibit 5, have been paid. Cooperative may waive the termination charges if Cooperative has secured or expects to secure from a new occupant or operator of the premises an Agreement satisfactory to Cooperative for the interconnection to Cooperative for a term not less than the unexpired portion of Member’s Agreement. (b) Cooperative, in addition to all other legal remedies, may either terminate the Agreement or suspend interconnection with Member (l) for any default or breach of Agreement by Member, (2) for failure to pay any applicable bills when due and payable, (3) for a condition on Member's side of the point of interconnection actually known by Cooperative to be, or which Cooperative reasonably anticipates may be, dangerous to life or property, (4) if Member either fails to energize the Generator within 12 months of the Effective Date of this Agreement or permanently abandons the Generator, or (5) by giving the Member at least sixty days notice in the event that there is a material change in an applicable rule or statue concerning interconnection and parallel operation of the Generator, unless the Member’s installation is exempted from the change or the Member complies with the change in a timely manner. No such termination or suspension, however, will be made by Cooperative without written notice delivered to Member, personally or by mail, stating what in particular in the Agreement has been violated, except that no notice need to be given in instances set forth in 12.(b)(3) above. Failure to operate the Generator for any consecutive 12 month period after the Effective Date shall constitute permanent abandonment unless otherwise agreed to in writing between the Parties.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.