UNDERTAKING
____________________________
[Name & Address of the Lessor]
____________________________
Dear
Sirs
In
consideration of your entering into the Lease
Agreement dated ......................... (Lease
Agreement), we hereby agree and undertake
that if you desire to terminate this Lease on
account of any of the grounds mentioned in the
Lease Agreement during the currency of the Lease,
we shall be obliged to purchase the Leased Assets
at the Purchase Price mentioned below
against the date immediately preceding the date
of termination of the Lease (Purchase
Date). In any such event, all our rights
under the Lease Agreement and in the Leased Assets
covered by this Lease Agreement shall forthwith
terminate and, if we fail to pay the Purchase
Price on or before the date specified by you,
you shall have the right to take immediate possession
of the Leased Assets and we shall immediately
deliver to you the Leased Assets together with
the registration certificate, permit or other
documents pertaining thereto;
Purchase
Date |
Purchase
Price |
Yours faithfully,
|
