Common use of Lessor's Option to Purchase Clause in Contracts

Lessor's Option to Purchase. THE LESSEE'S PERSONAL PROPERTY. Effective on not less than ninety (90) days prior written notice, or such shorter notice as shall be appropriate if this Lease is terminated prior to its expiration date, Lessor shall have the option to purchase some or all of Lessee's Personal Property which does provide a new function with respect to Lessor's Personal Property, at the expiration or termination of this Lease, for an amount equal to the then net book value thereof as shown on Lessee's books, subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements and other encumbrances to which such personal property is subject.

Lessor's Option to Purchase. THE LESSEE'S PERSONAL PROPERTY. Effective on not less than ninety (90) days prior written notice, or such shorter notice as shall be appropriate if this Lease is terminated prior to its expiration date, Lessor shall have the option to purchase some or all of Lessee's Personal Property which does provide a new function with respect to Lessor's Personal Property, at the expiration or termination of this Lease, for an amount equal to the then net book value thereof as shown on Lessee's books, subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements and other encumbrances to which such personal property is subject."