Purchase Option Fee Clause Samples
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Purchase Option Fee. Pursuant to that certain Amended and Restated Option Agreement dated as of February 27, 2013, by and among Seller, Buyer and Indemnitor (the “Option Agreement”), there has been deposited with the Escrow Agent an option fee in the amount of Ten Million Dollars ($10,000,000) (together with interest thereon, the “Option Fee”). Except to the limited extent provided for in Sections 3.5(ii), 3.6, 5.2 or 7.2, the Option Fee is absolutely non-refundable to Buyer and shall be retained by Seller if this Agreement terminates for any other reason. The Escrow Agent shall pay the Option Fee to Seller at and upon the Closing, which Option Fee shall be credited against the Purchase Price, or otherwise, to the party entitled to receive the Option Fee in accordance with Article 8.
Purchase Option Fee. If an Authorized User exercises its right to purchase the Lease Vehicle at the end of the Lease Term, a purchase option fee may be charged to the Authorized User, in addition to the purchase price of the Lease Vehicle, in accordance with the Lease Provider’s usual course of business.