LETTER BY THE LESSEE FOR EXERCISE OF OPTION TO PURCHASE THE LEASED EQUIPMENTS

To,
……………….……………….
……………….……………….
……………….……………….
Dear Sir
In terms of lease agreement dated……………….executed between you on the ONE PART and we on the OTHER PART, the equipments described in the Schedule hereto, have been leased to us on the terms and conditions laid down in the said lease agreement. In terms of clause……………….of the said agreement, the lessee has the option to purchase the leased equipments by giving three months notice before the expiration date on the purchase price mentioned in the Schedule to the lease agreement.

2. We the lessee of the said equipments give notice pursuant to clause……………….of the lease Agreement dated……………….that we wish to exercise our option to purchase from you on .................... 20 ……………….the equipments described in the Schedule hereto under the terms and conditions of the lease agreement.

3.We wish to inform you that the, purchase price as mentioned in the Schedule to the lease  agreement shall be paid by us on the expiration, date against delivery by you of the equipments at such place, as indicated by you.
								Yours faithfully, 
								For ....................
								……………….
								Purchase Manager 
								Authorised Signatory
			The Schedule above referred to
				(Description of equipment)