End of Term Purchase Option. Host shall also have the right to purchase the Project from Provider following the last day of the month in which the twentieth (20th) anniversary of the Commercial Operation Date occurs (“End of Term Purchase Date”) at the then Fair Market Value of the Project. Fifteen to nine months prior to the End of Term Purchase Date, Host shall notify Provider of its intent to exercise the option. Within ninety-one (91) days of its receipt of such notice, Provider shall give Host its appraisal of the Fair Market Value of the Project at the end of the Term. Host may, but is not obligated to, accept such appraisal and purchase the Project at this amount. If Host does not accept the Fair Market Value of such appraisal within ten (10) days of receiving the appraisal from Provider, the Host and Provider shall meet to discuss the appraisal. If they are unable to reach agreement about the Fair Market Value within twenty (20) days of the Host’s receipt of the appraisal from Provider, the Host and Provider may engage and share the costs equally to procure the services of a nationally recognized independent appraiser with experience and expertise in the solar photovoltaic industry acting reasonably and in good faith to determine the Fair Market Value of the Project consistent with the terms of the transaction. Notwithstanding the foregoing, in the event that Provider enters into a sale/leaseback transaction in connection with funding the installation of the Project, the process of determining the Fair Market Value of the Project shall be undertaken consistently with the terms of such transaction so that the process for determining Fair Market Value under this Agreement shall be the same as provided in the agreements for such sale/leaseback transaction. The Host may purchase the Project at the amount determined by the independent appraiser.
End of Term Purchase Option. (a) If option (b) is selected at Paragraph 7, this Lease shall be deemed an "FMV LEASE" and Lessee shall have an end of term purchase option as follows. (If no option is selected at Paragraph 7, option (b) shall be deemed to apply.) Provided this Lease has not been terminated earlier and there exists no Event of Default or event which with notice, lapse of time or both, would be an Event of Default, not earlier than 90 days and not later than 30 days before the end of the Original Term, Lessee may deliver to Lessor an irrevocable notice electing to purchase all (but not less than all) of the Equipment at the end of the Original Term for an amount equal to the amount specified in the provision selected (or deemed selected) in Paragraph 7, which amount Lessee shall pay to Lessor on the last day of the Original Term. If no such notice is delivered by Lessee to Lessor within such period, Lessee shall be deemed to have waived any right to purchase such Equipment.
End of Term Purchase Option. To elect this option, you shall give Lessor 60 days’ prior irrevocable written notice (unless the Purchase Option price is $1.00) that you will purchase, upon the expiration of the Lease Term, all the Listed Items at the Purchase Option price plus any Costs. (b) PRIOR TO MATURITY PURCHASE. You may, upon 60 days’ prior irrevocable written notice, purchase all the Listed Items at a price equal to the sum of all remaining Payments, plus the Fair Market Value, plus Costs. For purposes of this Agreement, “Fair Market Value” shall be Lessor’s retail price at the time you notify Lessor of your intent to purchase the Listed Items. (c) Listed Item purchases shall be “AS-IS WHERE-IS” without warranty, except for title; purchases of licenses of Listed Software are subject to the terms thereof. (d) Unless this Agreement contains a $1.00 Purchase Option, this Agreement shall automatically renew on a month to month basis at the same Payment amount (subject to increase of CSA Payments) and frequency unless you, at least 60 days before the end of the Lease Term, send to Lessor written notice (the "End of Term Notice") that you either (i) are purchasing all (but not less than all) of the Equipment in accordance with the terms hereof, or (ii) do not want to renew this Agreement, and at the end of the Lease Term shall return the Equipment as provided below. Unless this Agreement automatically renews or you purchase the Equipment as provided in this Agreement, you shall, at the termination of the Lease Term, return the Equipment at your sole cost and expense in good operating condition, ordinary wear and tear resulting from proper use excepted, to a location specified by Lessor. Lessor may charge you a return fee equal to the greater of one Payment or $250 for the processing of returned Equipment. If for any reason you fail to return any Equipment to Lessor as provided in this Agreement by the last day of the Lease Term, you shall pay to Lessor upon demand one billing period's Lessor Payment for each billing period or portion thereof that such return is delayed. If you fail to provide the required End of Term Notice and return the Equipment at the end of the Lease Term, you shall pay to Lessor upon demand the 60 day equivalent of Lessor Payments to satisfy the End of Term Notice period referenced above. You shall reimburse Lessor for any costs incurred by Lessor to place the Equipment in good operating condition.
End of Term Purchase Option. So long as (i) no Event of Default shall have occurred, and (ii) Lessee shall not have exercised its renewal option pursuant to Paragraph (b) hereof, Lessee may, upon giving its irrevocable written notice to Lessor at least one hundred fifty (150) days but no more than two hundred forty (240) days prior to the Expiration Date, purchase the Aircraft at the expiration of the Basic Term for an amount, payable in immediately available funds, equal to the Fair Market Sales Value of the Aircraft as of the end of the Basic Term determined in accordance with Paragraph (c) hereof plus any applicable Impositions resulting from such sale, together with any Basic Rent due and payable on or before the Expiration Date and all other accrued and unpaid Rent. Lessor's sale of the Aircraft shall be on an "AS-IS WHERE-IS" basis. (b)
End of Term Purchase Option. [COMPANY 1] shall have the right to purchase the Project from [PROVIDER COMPANY] at the expiration of the Operations Period at the then Fair Market Value of the Project. No earlier than [NUMBER OF MONTHS 4] prior to the expiration of such Operations Period and no later than [NUMBER OF MONTHS 5] prior to the expiration of the Operations Period, [COMPANY 1] shall notify [PROVIDER COMPANY] of its intent to exercise the option. Within [NUMBER OF DAYS 9] of its receipt of such notice, [PROVIDER COMPANY] shall give [COMPANY 1] its appraisal of the Fair Market Value of the Project at the end of the Term. [COMPANY 1] may, but is not obligated to, accept such appraisal. If [COMPANY 1] does not accept such appraisal within [NUMBER OF DAYS 10] of receiving the appraisal from [PROVIDER COMPANY], the Parties shall meet to discuss the appraisal. If they are unable to reach agreement within [NUMBER OF DAYS 11] of the [COMPANY 1]'s receipt of the appraisal from [PROVIDER COMPANY], the Parties will be deemed to enter into a dispute for purposes of [SECTION 23(23.01)] and shall follow the procedures in [SECTION 23] for resolution of the dispute. Notwithstanding the foregoing, in the event that [PROVIDER COMPANY] enters into a sale/leaseback transaction in connection with funding the installation of the Project, the process of determining the Fair Market Value of the Project in this Agreement shall be undertaken by a nationally recognized independent appraiser with experience and expertise in the solar photovoltaic industry acting reasonably and in good faith to determine the Fair Market Value of the Project and shall be undertaken consistently with the terms of such transaction so that the process for determining Fair Market Value under this Agreement shall be the same as provided in the agreements for such sale/leaseback transaction.
End of Term Purchase Option. At the end of any term, Customer shall give CFS 60 days prior irrevocable written notice (unless the Purchase Option is $1.00) that it will purchase all the Equipment at the purchase option price indicated herein plus any Costs. (B) PRIOR TO MATURITY PURCHASE. Customer may, at any time, upon 60 days irrevocable written notice purchase all the Equipment at a price equal to the sum of all remaining Payments plus the Fair Market Value plus Costs. "Fair Market Value" shall be CFS's retail price when Customer purchases the Equipment. Equipment purchases shall not be permitted if a default is continuing. Equipment purchases shall be "AS-IS WHERE-IS" without warranty, except for title.
End of Term Purchase Option. So long as (i) no Event of Default ------------------------------ shall have occurred, and (ii) Lessees shall not have exercised the renewal option pursuant to paragraph (b) hereof, Lessees may, upon giving irrevocable written notice to Lessor at least two hundred forty (240) days prior to the Expiration Date, purchase the Aircraft at the expiration of the Basic Term for an amount, payable in immediately available funds, for an amount (the "Purchase -------- Price"), payable in immediately available funds, equal to the Purchase Option ----- Price plus any applicable Impositions resulting from such sale, together with ---- any Basic Rent due and payable on or before the Expiration Date and all other accrued and unpaid Rent. Lessor's sale of the Aircraft shall be on an "AS-IS WHERE-IS" basis.
End of Term Purchase Option. (a) Return Notice. Lessee shall notify Lessor in writing not later than 12 months prior to the Scheduled Expiration Date whether Lessee shall return the Equipment pursuant to Article VIII hereof or elect to purchase the Equipment pursuant to this Section 16.02 or renew the term pursuant to Section 16.03. If Lessee fails to deliver such notice as herein required, Lessee shall be deemed to have elected to not return the Equipment. If Lessee has elected or is deemed to have elected not to return the Equipment, and Lessee fails to elect to purchase the Equipment pursuant to Section 16.02(b) hereof or to renew the term of the Lease pursuant to Section 16.03 hereof, Lessee shall be deemed to elect to renew the Lease pursuant to Section 16.03 unless no renewal option is available under the terms of Section 16.03, in which event, Lessee shall be deemed to have elected to purchase the Equipment pursuant to Section 16.02(b). All such elections or deemed elections are irrevocable. If Lessee elects or is deemed to have elected to purchase the Equipment or to renew the term of this Lease, then Lessee may commence discussions with Lessor as to Fair Market Sales Value or Fair Market Rental Value of the Equipment, and failing agreement, either Lessee or Lessor may request a determination of Fair Market Sales Value or Fair Market Rental Value pursuant to the Appraisal Procedure.
End of Term Purchase Option. If Lessee elects the purchase option under Section 24 of the Master Lease, then no later than 10 days prior to the Expiration Date, Lessee shall pay (a) an amount equal to the End of Term Purchase Price as set forth below, plus (b) any other amounts then due under the Lease (including the costs or expenses of Lessor, if any, in connection with such purchase): End of Term Purchase Price: $1.00
End of Term Purchase Option. So long as no Event of Default shall then exist, and Lessee shall not have elected to purchase the aircraft pursuant to subsection (a) above or to return the Aircraft pursuant to the Return Addendum, Lessee may, upon providing notice to Lessor in accordance with Section 4 below, purchase the Aircraft on the Expiration Date for an amount, payable in immediately available funds, equal to the Fair Market Sales Value of the Aircraft as of the end of the Basic Term, determined in accordance with Section 3 hereof, plus any applicable Impositions resulting from such sale, together with any Basic Rent due and payable on or before the Expiration Date and all other accrued and unpaid Rent. In no event shall the Fair Market Sales Value of the Aircraft exceed $2,920,500 for the purpose of this Section 1.
