Return Option definition

Return Option shall have the meaning provided in Section 21.1(b) of the Lease.

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Return Option is defined in Section 14.2(c) of the Lease.

Return Option. Return all, but not less than all of the Equipment in ------------- Group A at the expiration of the Initial Term in accordance with the terms of the Agreement and pay a fee equal to $21,800.00. ----------

Examples of Return Option in a sentence

The Return Option shall be conditioned upon and subject to the fulfillment by the Lessee of each of the terms and conditions set forth in Article XXII and, thereafter, the Lessee shall have no further obligations to pay Basic Rent or the remaining Lease Balance.
Following the Lessee’s election of the Return Option, the Lessee shall not remove any Alterations.
At or subsequent to the transfer or return of all or any of the Leased Property to a third party buyer pursuant to the Return Option, the Lessee will provide the Lessor with such lien and title searches as the Lessor may reasonably request to demonstrate to the Lessor’s satisfaction that the Leased Property is subject to no liens other than Permitted Liens as described in clauses (a) or (b) of the definition thereof.
Lessor (or the purchaser of the Leased Property if the Lessee elects the Return Option or in connection with a sale pursuant to Section 18.1) may purchase from the Lessee any such Alterations (if not already owned by the Lessor) that the Lessee intends to remove from the Improvements or the Site prior to the Lease Expiration Date, which purchase shall be at the Fair Market Value of such Alterations as determined by the Appraiser at the time of such purchase.
Lessee may not elect the Return Option if there exists on the date the election is made a Default, an Event of Default or an Event of Loss.

Return Option has the meaning specified in Section 20.3 of the Master Charter.

Return Option is defined in Section 28(b) of the Asset Use Agreement.

Return Option shall have the meaning specified in paragraph (c) of Section 15.1 of the Equipment Operating Lease.

Return Option shall have the meaning given to that term in Subparagraph 3.01(a) of the Purchase Agreement.

Return Option. Has the meaning set forth in Section 4 of this Agreement. The agreement between TANC and TANC Members with respect to allocations of TANC entitlements to Tesla-Midway Transmission Service, dated as of February 14, 1993. The Transmission Agency of Northern California or its successor.

Return Option. Has the meaning set forth in the Head Lease.

Return Option. The end of term option set forth in Section 20.2 hereof.