Return Option. He shall have an option to stay or return unless Management directs him to return, in which event his continuous service will continue to accrue for seniority purposes at the other Plant until the expiration of one of the following applicable periods if he has not returned to employment at the other Plant by that time.
Return Option. Lessee may return all of the Equipment, in which case Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of the last day of the Term. If one of the foregoing options is not exercised, the Term will automatically extend for successive 3-month Renewal Terms in which case Lessee will continue to pay Lessor rent at the rate of the periodic Rental Payment previously in effect (or, if the Rental Payments for the Base Term or Renewal Term previously in effect were not constant for all whole Rental Periods, at the rate of the sum of such Rental Payments divided by the number of Rental Periods) (the ‘Previously Effective Rental Rate’); and all other provisions of this Lease will continue to apply. Lessor may terminate any such automatic Renewal Term upon at least 10 days’ notice in which case the Term will terminate on the date specified in such notice, and Lessee will return the Equipment to Lessor in accordance with Section 16 within 10 days of that date. Lessee’s purchase, renewal, and return options and the automatic renewal provisions provided for in this section apply at the end of the Initial Term and all optional or automatic Renewal Terms. If Lessee fails to comply with the terms of any of the foregoing options elected by it, Lessor may in its absolute discretion elect to terminate the Exercise Notice in which case the automatic renewal provision set forth above will apply as if no Exercise Notice were given, or Lessor may proceed as otherwise permitted by this Lease, including exercising the remedies provided for in this Lease or at law. The foregoing applies following the noncompliance with any of the foregoing options notwithstanding the execution or entry into of any Lease supplement, xxxx of sale, purchase agreement, confirmation, or other documentation memorializing and/or confirming the exercise of the option or the terms of the exercise.
Return Option. If the Lessee does not elect to exercise the Purchase Option, the Lessee shall redeliver the Trolley to the Lessor on the Lease Termination Date. The Trolley being returned shall be free and clear of all liens and shall be in the condition required by Article VI of this Lease. Upon the return of the Trolley, pursuant to this section, the Lessee shall deliver to the Lessor or its designee any maintenance logs kept with respect to the Trolley. The Lessee shall continue to insure and bear the risk of loss of the Trolley in accordance with this Lease until it is redelivered in the condition required by this Section.
Return Option. If, 150 days or more prior to the Scheduled Termination Date, Lessee notifies Lessor and Administrative Agent (with a copy to each Lender) in writing of Lessee’s election not to exercise the Purchase Option as set forth in Section 14.1 and not to renew the Basic Lease Term pursuant to Section 14.8 hereof, but instead to return the Leased Property (the “Return Option”), then upon the expiration or earlier termination of the Basic Lease Term, Lessee shall surrender and return the Leased Property in accordance with Section 14.7. The period commencing on the giving of such notice and ending on the last day of the Basic Lease Term shall be referred to herein as the “Return Period”.
Return Option. In the event Lessee fails to exercise the renewal or -- --------------- purchase option referred to above, Lessee shall return all (but not less than all) of the Equipment pursuant to the terms of Agreement and the applicable Schedule, including, without limitation, any and all return conditions. Lessee agrees that if it elects to return the equipment for the first Schedule, Lessee shall be deemed to have elected to return all other Schedules under this Agreement in which General Electric Capital Corporation is the "Lessor".
Return Option. Lessee may terminate this Lease as of the last day of the Term by returning all of the Equipment to Lessor in the condition required by and in accordance with the terms of Section 16 below within 10 days of the last day of the Term. If an end-of-Term option provided in this Lease is not exercised, or if Lessee having elected an applicable purchase option fails to pay the price and applicable Taxes by the required date, or if Lessee having elected an applicable return option fails to return the Equipment by the required date, or if Lessee having elected any other end-of-Term option requiring its performance fails to perform the option as notified, then any Exercise Notice will terminate and the Term will automatically extend for successive 1-month Renewal Terms at the same rental rate previously in effect for all items of Equipment and Soft Cost Items (or, if the rental rate for the immediately preceding Base Term or Renewal Term was not constant, at the average rate) (“Previously Effective Rental Rate”) and otherwise on the same terms. Lessee’s purchase, renewal, and return options under this section, if and as applicable, and the automatic renewal provisions under in this section apply at the expiration of the Base Term and all optional or automatic Renewal Terms.
Return Option. If Lessee fails to purchase the Equipment pursuant to the provisions of the preceding Section, Lessee shall return the Equipment to Lessor in accordance with the terms of this Section 7(b) and Section 14 of the Master Lease
Return Option. If Lessees have elected to return the Aircraft, -------------- then upon making such election, Lessees shall place and keep the Aircraft in the condition required upon return by the Lease. During the period from the giving of notice of Lessees' election to return the Aircraft until the date seven (7) days prior to the Expiration Date, Lessees, as agent for Lessor, but at no risk, expense or cost to Lessor of any kind whatsoever, shall use their best efforts (but in no event less effort than used to sell aircraft or equipment any Lessee owns itself) to sell the Aircraft in a commercially reasonable manner and to secure the highest obtainable bids for the purchase of the Aircraft. Lessor may, but shall be under no obligation to, solicit bids, inquire into the efforts of Lessees to obtain bids or otherwise take any action in connection with any such sale. In the event any Lessee receives any bid during such period, Lessees shall promptly certify to Lessor in writing the amount and terms of each such bid and the name and address of the Person submitting such bid. All of such bids shall be subject to the prior written approval of Lessor, and Lessees shall inform all bidders of this requirement when requesting any bids.
Return Option. As required in Section 8, Lessee shall return all or any complete system of Equipment that has not been renewed or purchased as set forth in subsections (a), (b) or (c) of this Section 3. In the event of a partial Equipment return or purchase, upon the expiration of the Base Term or any renewal period thereafter, 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.
Return Option. With respect to all Asset Use Supplements, in the event the Obligor has not exercised its option to purchase all of the Assets then subject to this Agreement pursuant to Section 28(a) or, exercised its Reversion Right granted to it under Section 5.10 of the Trust Agreement or with the Obligee and all of the Participants extended the Term pursuant to Section 28(c), then the Obligor shall have the option (the "Return Option") to return all (but not less than all) of the Assets; provided, however, that (x) the Obligor shall have given irrevocable written notice of its election of the Return Option not less than ninety (90) days prior to the expiration of the Term and (y) the Obligor shall comply with all terms and provisions of this Section 28(b). In the event that the Obligor has exercised its Return Option pursuant to this Section 28(b) and fails to return all of the Assets then being returned on or prior to the then scheduled Termination Date, then the Obligor shall be deemed to have elected to purchase all such Assets and to pay the Obligee the End of Term Purchase Option Amount.
