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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;
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Purchase Date
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Purchase Price
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Yours faithfully,
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