Option to Own definition

Option to Own means a clause included in the rent to own agreement between the FN and tenant where both parties agree that, at the end of the amortization period for the section 95 mortgage loan, the tenant may have an option to own the home provided that the tenant has met all conditions and obligations in the rent to own agreement.
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Examples of Option to Own in a sentence

  • For Lease with Option to Own (Operating Lease), the base value will be the contract purchase price (less any discounts), less a mutually agreed upon residual value (pre-stated purchase option price at the conclusion of the lease) for the products.

  • The estimated residual value of the product (Lease with Option to Own and Step Lease only).

  • Notwithstanding the provisions of SIN 132-3, for Leases with the Option to Own - Fair Market Value end of lease purchase option, the purchase option available to the Government at the end of the Lease Term shall be based on the then current Fair Market Value.

  • Lease to Ownership Plan (LTOP) (Lease/Purchase)Lease with Option to Own (Operating Lease) (b) Annual Year Funding.

  • For Lease with Option to Own (Operating Lease), the base value will be the contract purchase price (less any discounts), less a mutually agreed upon residual value (pre- stated purchase option price at the conclusion of the lease) for the products.

  • Notwithstanding the provisions of SIN 532420L, for Leases with the Option to Own - Fair Market Value end of lease purchase option, the purchase option available to the Government at the end of the Lease Term shall be based on the then current Fair Market Value.

  • INFORMATION TECHNOLOGY CATEGORY HARDWARE SUBCATEGORY Lease Type: Lease to Ownership and Lease with Option to Own SIN 532420L Option 2 Lease Terms and ConditionsOption 2 Lease Terms and Conditions contains a cancellation clause, in which the fee must be in accordance with applicable legal principles.

  • The estimated residual value of the product (Lease with Option to Own only).

  • For Lease with Option to Own (Opera ting Lease), the base value will be the contract purchase price (less any discounts), less a mutually agreed upon residual value (pre-stated purchase option price at the conclusion of the lease) for the products.

  • Includes the following lease types:Lease to Ownership, and Lease with Option to Own NOTE: Subject to Cooperative Purchasing FSC/PSC Class W070 LEASE OR RENTAL OF EQUIPMENT- ADP EQUIPMENT/SOFTWARE/SUPPLIERS/SUPPORT EQUIPMENTLease of Products INFORMATION TECHNOLOGY CATEGORYHARDWARE SUBCATEGORYSIN 532420L Option 1 Lease Terms and ConditionsOption 1 Lease Terms and Conditions does not contain a cancellation clause and all leases automatically expire on September 3 0th or sooner.

Related to Option to Own

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Election to Exercise shall have the meaning attributed thereto in Subsection 2.2(d).

  • Option means a stock option granted pursuant to the Plan.

  • Notice of Election to Purchase has the meaning assigned to such term in Section 15.1(b).

  • Option Share has the meaning ascribed to it in section "4.7" hereinbelow;

  • Option Period means the period during which an Option may be exercised.

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Option Exercise Period has the meaning set forth in Section 5.3(c).

  • Option B has the meaning assigned that term in Section 8.03(e).

  • Option Exercise Notice has the meaning provided in Section 3.6 below.

  • Option 2 [_] An amount equal to the sum of ________% of the portion of such Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which does not exceed ________% of the Contributing Participant's Compensation plus ________% of the portion of such Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which exceeds ________% of the Contributing Participant's Compensation.

  • Option Exercise Price means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

  • Renewal Option has the meaning set forth in §12.1.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Option 3 [ ] A Participant satisfies the Plan's Early Retirement Age conditions by attaining age ________ (not less than 55) and completing ________ Years of Vesting Service.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Optioned Shares means Shares subject to an Award granted pursuant to this Plan.

  • Option 1 [X] Yes, but only with respect to a Contributing Participant's Elective Deferrals.