Common use of Provisions Relating Clause in Contracts

Provisions Relating. to Lessee's Termination of this Lease or Exercise of Purchase Option. (a) In connection with any purchase of Equipment pursuant to Section 20 or 17.3(c), (b) in connection with any substitution of Units pursuant to Section 30, and (c) upon the payment of all amounts set forth in Section 17.3(b)(i), upon the date of purchase, the date of substitution or the date of payment, as applicable, upon tender by Lessee of the amounts required under Section 20, 17.3(c) or 17.3(b)(i), as applicable, or the substitution of the Replacement Equipment pursuant to Section 30, as applicable: (i) Lessor shall execute and deliver to Lessee (or to Lessee's designee) at Lessee's cost and expense an assignment of Lessor's entire interest in the applicable Unit being purchased or replaced, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of the Security Agreement and any Lessor Liens; (ii) the applicable Unit being purchased replaced shall be conveyed to Lessee "AS IS" "WHERE IS" and in then present physical condition; and (iii) this Lease shall terminate with respect to the applicable Unit being purchased or replaced.