Return Option Clause Samples
Return Option. Lessee may return all of the Equipment, in which case Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of the last day of the Term. If one of the foregoing options is not exercised, the Term will automatically extend for successive 3-month Renewal Terms in which case Lessee will continue to pay Lessor rent at the rate of the periodic Rental Payment previously in effect (or, if the Rental Payments for the Base Term or Renewal Term previously in effect were not constant for all whole Rental Periods, at the rate of the sum of such Rental Payments divided by the number of Rental Periods) (the ‘Previously Effective Rental Rate’); and all other provisions of this Lease will continue to apply. Lessor may terminate any such automatic Renewal Term upon at least 10 days’ notice in which case the Term will terminate on the date specified in such notice, and Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of that date. Lessee’s purchase, renewal, and return options and the automatic renewal provisions provided for in this section apply at the end of the Initial Term and all optional or automatic Renewal Terms. If Lessee fails to comply with the terms of any of the foregoing options elected by it, Lessor may in its absolute discretion elect to terminate the Exercise Notice in which case the automatic renewal provision set forth above will apply as if no Exercise Notice were given, or Lessor may proceed as otherwise permitted by this Lease, including exercising the remedies provided for in this Lease or at law. The foregoing applies following the noncompliance with any of the foregoing options notwithstanding the execution or entry into of any Lease supplement, ▇▇▇▇ of sale, purchase agreement, confirmation, or other documentation memorializing and/or confirming the exercise of the option or the terms of the exercise.
Return Option. He shall have an option to stay or return unless Management directs him to return, in which event his continuous service will continue to accrue for seniority purposes at the other Plant until the expiration of one of the following applicable periods if he has not returned to employment at the other Plant by that time.
Return Option. As required in Section 8, Lessee shall return all or any complete system of Equipment that has not been renewed or purchased as set forth in subsections (a), (b) or (c) of this Section 3. In the event of a partial Equipment return or purchase, upon the expiration of the Base Term or any renewal period thereafter, the subsequent periodic invoices will be adjusted to reflect such partial return or purchase; however, no adjustment will be made for the billing cycle in which the Equipment is returned or purchased.
Return Option. As required in Section 8, Lessee shall return all or any complete system of Equipment that has not been renewed or purchased as set forth in subsections (a), (b) or (c) of this Section
Return Option. In the event Lessee fails to exercise the renewal or purchase option referred to above, Lessee shall return all (but not less than all) of the Equipment pursuant to the terms of Agreement and the applicable Schedule, including, without limitation, any and all return conditions. Lessee agrees that if it elects to return the equipment for the first Schedule, Lessee shall be deemed to have elected to return all other Schedules under this Agreement in which General Electric Capital Corporation is the "Lessor". Lessee shall be charged a 5% restocking fee upon return of the equipment. The following is substituted in place of Section 17 of the Lease:
Return Option. If the Lessee does not elect to exercise the Purchase Option, the Lessee shall redeliver the Trolley to the Lessor on the Lease Termination Date. The Trolley being returned shall be free and clear of all liens and shall be in the condition required by Article VI of this Lease. Upon the return of the Trolley, pursuant to this section, the Lessee shall deliver to the Lessor or its designee any maintenance logs kept with respect to the Trolley. The Lessee shall continue to insure and bear the risk of loss of the Trolley in accordance with this Lease until it is redelivered in the condition required by this Section.
Return Option. If, 150 days or more prior to the Scheduled Termination Date, Lessee notifies Lessor in writing of Lessee’s election not to exercise the Purchase Option as set forth in Section 14.1 and not to renew the Basic Lease Term pursuant to Section 14.8 hereof, but instead to return the Leased Property (the “Return Option”), then upon the expiration or earlier termination of the Basic Lease Term, Lessee shall surrender and return the Leased Property in accordance with Section 14.7. The period commencing on the giving of such notice and ending on the last day of the Basic Lease Term shall be referred to herein as the “Return Period”.
Return Option. The rented instrument and accessories may be returned at any time during the rental period, but no credit, refunds, or partial payments will be permitted if the instrument is returned earlier than the prearranged termination date. DO NOT RETURN THIS INSTRUMENT TO AN INSTRUCTOR WITHOUT A RETURN AUTHORIZATION
Return Option. Teachers who have been reassigned from one building to another building or from one full department to another full department shall have the option of returning to their former position if it becomes vacant between June 15 and September 15 within the following 3 years and would not otherwise deprive a teacher on the recall list of a position. Prior to the end of the school year, reassigned teachers who desire to be eligible for the above return option shall advise the office of the Director of Human Resources of an address where they may be reached during the above period. Upon written notification of the availability of their former position, such reassigned teachers shall have ten (10) days to notify the office of the Director of Human Resources that they desire to return to their former positions. In addition, teachers3 who have been reassigned from one building to another building or from one full department to another full department shall have the option, except in extenuating circumstances4, of returning to their former position if it becomes vacant during the school year between September 15 and April 1 within the following 3 years and would not otherwise deprive a teacher on the recall list of a position. If a teacher exercises a return option between September 15 and April 1 in any school year, the position which such teacher vacates shall not be subject to this return option on the part of any other secondary teacher. Whenever possible, a return option shall be exercised at a natural break, such as the end of a card marking period and/or the end of a semester.
Return Option. 3.1 If you choose to return the Vehicle to us, we will buy it from you for the Guaranteed Future Value on the End Date but subject to paragraphs 3.3 and 3.