Purchase Options Removal at End of Term Sample Clauses

The "Purchase Options; Removal at End of Term" clause defines the lessee's rights and obligations regarding the equipment or property at the conclusion of a lease. Typically, this clause outlines whether the lessee can purchase the leased item at a predetermined price or must arrange for its removal and return to the lessor. For example, it may specify a buyout price or detail the process for scheduling pickup and restoring the property to its original condition. The core function of this clause is to clarify end-of-term procedures, ensuring both parties understand their options and responsibilities, thereby preventing disputes over ownership or removal logistics.