No Purchase Option Sample Clauses
The No Purchase Option clause explicitly states that the lessee does not have the right to buy the leased asset at the end of the lease term. In practice, this means that once the lease period concludes, the lessee must return the asset to the lessor without any opportunity to negotiate a purchase, regardless of the asset's condition or market value. This clause is primarily used to clarify the parties' intentions and prevent misunderstandings about end-of-lease options, ensuring that ownership remains with the lessor and the lessee cannot claim any right to acquire the asset.
POPULAR SAMPLE Copied 4 times
No Purchase Option. NO HUSH KIT FINANCING Lessee shall have no option to purchase the Aircraft. Lessor shall have no obligations with respect to HUSH KITS (those parts that are required to be affixed to the Engines and Airframe in order that the Aircraft complies with all requirements of US FAR Part 36, Stage III and ICAO Annex 16, Chapter 3), including but not limited to financing thereof.
No Purchase Option. None of the Properties nor any part thereof is subject to any purchase options, rights of first refusal to purchase, rights of first offer to purchase or other similar rights of purchase in favor of any parties.
No Purchase Option. The First Priority Secured Parties and the Second Priority Secured Parties agree that, notwithstanding any provision in any Secured Debt Document, no First Priority Secured Party or Second Priority Secured Party may request, and no Superpriority Secured Party shall be required to or be deemed to offer the First Priority Secured Parties or the Second Priority Secured Parties the option, to purchase any or all of the aggregate principal amount of Superpriority Secured Debt outstanding. Furthermore, the Second Priority Secured Parties agree that, notwithstanding any provision in any Secured Debt Document, no Second Priority Secured Party may request, and no First Priority Secured Party shall be required to or be deemed to offer the Second Priority Secured Parties the option, to purchase any or all of the aggregate principal amount of outstanding First Priority Secured Debt outstanding.
No Purchase Option. Lessee shall have no option to purchase or otherwise acquire title to or ownership of any of the leased equipment and shall have only the right to use the same under and subject to the terms and provisions of this lease.
No Purchase Option. Other than this Agreement or as disclosed in the Title Commitment, to Seller’s Knowledge, there are no recorded or unrecorded rights of first offer to purchase, rights of first refusal to purchase, rights of negotiation, purchase options or similar rights or contractually required rights or consents to transfer pertaining to the Property, the Membership Interests or any portions thereof.
No Purchase Option. As more particularly set forth in Section 1.1 of Article II of the Lease, Tenant’s purchase option fully terminates and expires after the first three (3) years of the Extended Term. For avoidance of doubt, it is hereby confirmed that Tenant shall not have any right or option to purchase any portion of the Premises during the Renewal Term. In addition, this Addendum shall be fully and automatically null and void in all respects on the date which is the earlier to occur of (i) Tenant sending a Closing Notice under the Lease; (ii) Tenant failing to timely exercise its option to extend for the Extended Term; or (iii) Tenant failing to timely exercise its option for the Renewal Term.
No Purchase Option. Except as may be provided in a purchase option agreement executed by ▇▇▇▇▇▇ and Lessee of even date, Lessee shall have no option to purchase or otherwise acquire title to or ownership of any of the Equipment and shall have only the right to use the same under and subject to the terms and provisions of this Lease. CHARTER FINANCIAL, INC Merchant Bankers VIA FEDERAL EXPRESS ------------------- November 10, 1995
No Purchase Option. The Tenant has not negotiated any option to purchase the Premises or the Landlord Personalty. The Landlord explicitly makes no representation as to the possibility or price of any such desire by the Tenant to purchase the Premises or the Landlord Personalty at any time during the term of this Lease or thereafter.
No Purchase Option. Except as may be provided in a purchase option agreement executed by Lessor and Lessee with regard to a Rental Schedule, Lessee shall have no option to purchase or otherwise acquire title to or ownership of any of the Equipment and shall have only the right to use the same under and subject to the terms and provisions of this Lease.
No Purchase Option. Section 21 of the Lease is deleted. All terms of the Lease not amended hereby or not inconsistent herewith shall remain in full force and effect.