Common use of Return Option Clause in Contracts

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 the Lessee does not elect to exercise the Purchase Option, the Lessee shall redeliver the Trolley to the Lessor on the Lease Termination DateDate of the Bus. The Trolley Bus 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 TrolleyBus, pursuant to this section, the Lessee shall deliver to the Lessor or its designee any maintenance logs kept with respect to the TrolleyBus. The Lessee shall continue to insure and bear the risk of loss of the Trolley Bus in accordance with this Lease until it is they are redelivered in the condition required by this Section.