Common use of Surrender of Leased Property Clause in Contracts

Surrender of Leased Property. Upon the expiration of the lease, with respect to any item of the Leased Property, the Lessee shall return the same to Lessor in good repair, condition and working order, ordinary wear and tear excepted, in the following manner: (a) By delivering the item of Leased Property at Lessee's cost and expense to such place as Lessor shall specify; or (b) By loading such item of Leased Property at Lessee's coast and expense on board such carrier as Lessor shall specify and shipping the same, freight collect, to the place designated by Lessor.

Surrender of Leased Property. Upon the expiration of the lease, with respect to any item of the Leased Property, the Lessee shall return the same to Lessor in good repair, condition and working order, ordinary wear and tear excepted, in the following manner: (a) By delivering the item of Leased Property at Lessee's cost and expense to such place as Lessor shall specify; or (b) By loading such item of Leased Property at Lessee's coast cost and expense on board such carrier as Lessor shall specify and shipping the same, freight collect, to the place designated by Lessor.