Return and Refresh Period Sample Clauses

Return and Refresh Period. For any Equipment not purchased or extended by Lessee under Option A or Option B above, the Base Term will be automatically extended for an additional three (3) months (the “Return and Refresh Period” or “RRP”) at the then current Rent for such remaining Equipment. During the RRP, Lessee may request that Lessor provide lease financing for replacement systems for the Equipment included on a Schedule to this Master Lease. The monthly Rent for the IT Refresh Equipment will be set forth in a new Schedule and shall be equal to the fair market rental value of the new IT Refresh Equipment as agreed to by the parties. The Rent for the new IT Refresh Equipment on the IT Refresh Schedule will not commence until after the Return and Refresh Period of the applicable Schedule. At the end of the RRP, upon at least thirty (30) days prior written notice, Lessee may (a) purchase or renew any remaining Equipment, in complete systems, in accordance with the terms of Options A or B, (b) extend the Schedule on a month to month basis at the then current Rent, or (c) return the Equipment, in complete systems, in accordance with Section 8 of the Master Lease. In the event of a partial Equipment return or purchase, after the RRP, 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. If Lessor has not received Lessee’s notice of exercise of the foregoing options in a timely manner or, if the parties fail to agree on the determination of the purchase price or fixed term renewal value, then the Schedule will be extended for the Return and Refresh Period as per the terms of Option C.
Sample 1
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Related to Return and Refresh Period

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