Timely Redelivery; Deemed Purchase Option. If Lessee has not timely satisfied the obligations and conditions set forth in Section 6.1 with respect to the redelivery of each and every Item of Equipment, then Lessee shall be deemed to have exercised the purchase option set forth in Section 28.2 hereof and Lessee shall pay to Lessor the Purchase Option Amount with respect to all Items of Equipment.
Appears in 2 contracts
Samples: Master Equipment Lease Agreement (Universal Compression Holdings Inc), Master Equipment Lease Agreement (Universal Compression Inc)
Timely Redelivery; Deemed Purchase Option. If Lessee has not timely satisfied the obligations and conditions set forth in Section 6.1 with respect to the redelivery of each and every Item of Equipment, then Lessee shall be deemed to have exercised the purchase option set forth in Section 28.2 hereof and Lessee shall pay to Lessor the Purchase Option Amount with respect to all Items of Equipment.
Appears in 2 contracts
Samples: Equipment Lease Agreement (Universal Compression Inc), Equipment Lease Agreement (BRL Universal Equipment Corp)
