GE Lease definition
Examples of GE Lease in a sentence
The Purchaser acknowledges and agrees with the Vendor that the Purchaser shall be responsible for obtaining any consent required from IGE Medical Systems Limited under the terms of the GE Lease to the assignment of the GE Lease from Mobile P.E.T. Leasing Limited to LPC and/or the change of control of LPC on Completion.
No Loan Party shall exercise any other renewal option or purchase option under the GE Lease.
If the Lease Solution is not implemented, then SIGC shall properly exercise its initial three-year renewal option under the GE Lease on or before September 30, 2004.
Prior to the Closing Date, Seller shall, or shall cause each of the other Seller Entities to, exercise its purchase option under the GE Lease with regard to the vehicles set forth in Schedule 2(k) (the “Buyout Vehicles”) such that Seller or another Seller Entity shall become the owner and title holder of the Buyout Vehicles prior to the Closing Date.
After the Closing, Company agrees to comply (and Buyer agrees to cause Company to comply) with all of its obligations under the GE Lease until the lease expires or is terminated.
GE Lease - that certain Master Lease Agreement (Off Balance Sheet - Synthetic) dated October 14, 2003, between Borrower and General Electric Capital Corporation in the original principal amount of $9,482,424.98.
If Purchaser does not respond within such three business (3) day period, Purchaser shall be deemed to have approved the GE Lease Amendment.
Upon a termination in the event that either Purchaser disapproves the GE Lease Amendment or Seller terminates due to inability to finalize the GE Lease Amendment, neither party shall have any further obligations except for the Surviving Obligations (as defined below), and Purchaser shall return any Due Diligence Materials (as defined below) within 72 hours of such termination.
With respect to Tenant Costs under Leases in effect as of Effective Date which are monetary obligations on the Closing Date, including without limitation all Tenant Costs associated with the GE Lease Amendment, the Purchaser may, at the option of Purchaser (A) elect to receive a credit against the Purchase Price or (B) elect to have Seller pay to Purchaser on the day following the Closing Date the aggregate unpaid amount thereof by wire transfer of immediately available funds.
As of the Closing Date Borrower had incurred Debt from General Electric Capital Corporation for certain Equipment financing as disclosed on Schedule 9.2.5 of the Loan Agreement and as currently evidenced by the GE Lease.