Common use of End of Term Options Clause in Contracts

End of Term Options. If Lessee is not in default and gives Lessor at least ninety (90) days prior written notice, Lessee will have the option at the expiration of the Initial Term to (a) purchase all, but not less than all, Equipment and/or Software (as applicable) for an amount equal to thirty-eight percent (38%) of the original acquisition cost, plus an amount which would be obtainable at the end of the Initial Term in an arm's-length transaction between an informed and willing buyer/user and an informed and willing seller under no compulsion to sell as determined by Lessor in its reasonable discretion, exercised in good faith, for any upgrades or additions with respect to such Equipment and/or Software (as applicable), plus taxes or (b) extend the Initial Term for all, but not less than all, Equipment and/or Software (as applicable) for a mutually agreed upon renewal period at a periodic Rent equal to an amount which would be obtainable at the commencement of the extended Initial Term in an arm's-length transaction between an informed and willing lessee/user and an informed and willing lessor/dealer under no compulsion to lease, plus taxes amortized over the renewal period , or (c) return the Equipment and/or Software (as applicable) in accordance with the terms and conditions of the Master Lease. If Lessee fails to provide written notice then the Equipment Schedule will continue in full force and effect until terminated in accordance with its terms.

End of Term Options. If Lessee is not in default and gives Lessor at least ninety (90) days prior written notice, Lessee will have the option at the expiration of the Initial Term to (a) purchase all, but not less than all, Equipment and/or Software (as applicable) for an amount equal to thirty-eight percent (38%) of the original acquisition cost, plus an amount which would be obtainable at the end of the Initial Term in an arm's-length transaction between an informed and willing buyer/user and an informed and willing seller under no compulsion to sell as determined by Lessor in its reasonable discretion, exercised in good faith, for any upgrades or additions with respect to such Equipment and/or Software (as applicable), plus taxes or (b) extend the Initial Term for all, but not less than all, Equipment and/or Software (as applicable) for a mutually agreed upon renewal period at a periodic Rent equal to an amount which would be obtainable at the commencement of the extended Initial Term in an arm's-length transaction between an informed and willing lessee/user and an informed and willing lessor/dealer under no compulsion to lease, plus taxes amortized over the renewal period period, or (c) return the Equipment and/or Software (as applicable) in accordance with the terms and conditions of the Master Lease. If Lessee fails to provide written notice then the Equipment Schedule will continue in full force and effect until terminated in accordance with its terms.