End of Term Options to Purchase Sample Clauses

End of Term Options to Purchase. So long as no Default under clause (ix), (x) or (xi) of Section 15(a) or Event of Default has occurred and is continuing, the Lessee shall have the right on the date of the expiration of the Basic Term to purchase the Facility at a price equal to the fair market sales value determined as of the end of such Basic Term pursuant to Section 19(a). The Lessee shall give to the Owner-Trustee irrevocable written notice at least one year prior to the end of the Basic Term of its election to exercise the purchase option provided for in the preceding sentence. Payment of the purchase price shall be made on the date of purchase at the place of payment specified in Section 4(d) hereof in immediately available funds, against delivery of a quitclaim deed or xxxx of sale transferring and assigning to the Lessee all right, title and interest of the OwnerTrustee in and to the Facility on an "as-is" "where-is" basis without recourse or warranty, express or implied, except for a warranty against Lessor's Liens attributable to the OwnerTrustee or Wilmington Trust Company. The Owner-Trustee shall not otherwise be required to make any representation or warranty as to the condition of the Leased Property or any other matters. Upon expiration of each Renewal Term, so long as no Default under clause (ix), (x) or (xi) of Section 15(a) or Event of Default has occurred and is continuing, the Lessee shall have the right to purchase the Facility at a price equal to the fair market sales value thereof determined as of the end of such Renewal Term pursuant to Section 19(a). The Lessee shall give the Owner-Trustee irrevocable written notice at least one year prior to the end of such Renewal Term of its election to exercise the purchase option provided for in the preceding sentence. Following such notice, the Lessee shall purchase the Facility on the terms and conditions set forth in this Section 19(b). In the event of any purchase of the Facility by the Lessee pursuant to this Section 19(b), the Owner-Trustee shall, concurrently with such purchase, transfer its right, title and interest in and to the Site Lease to the Lessee on an "as-is" "where-is" basis without recourse or warranty, express or implied, except for a warranty against Lessor's Liens attributable to the OwnerTrustee or Wilmington Trust Company.
Sample 1See All (4)
AutoNDA by SimpleDocs

Related to End of Term Options to Purchase

  • Options to Purchase There are no options to purchase, rights of first refusal or other similar agreements with respect to the Property which will survive Closing which give anyone the right to purchase the Property or any part thereof. There are no contracts or agreements which affect the Property, except as set forth herein.

  • Maximum Term of Option In no event may the Option be exercised, in whole or in part, after the tenth anniversary of the Option Date (the "Expiration Date").

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

  • Date of Grant; Term of Option This Option is granted as of , 2005 (the “Date of Grant”), and it may not be exercised than later than the date that is ten (10) years after date of grant, subject to earlier termination, as provided in the Plan.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Stock Option Awards During the Term, the Executive shall be eligible for awards of options to purchase shares of the Company’s common stock (the “Stock Options”), such Stock Options to be awarded in the sole discretion of the Compensation Committee and in accordance with the terms of the Company’s Stock Option Plan, as such Stock Option Plan may be amended, suspended or terminated from time to time.

  • Grant of Company Reacquisition Right Except to the extent otherwise provided by the Superseding Agreement, if any, in the event that the Participant’s Service terminates for any reason or no reason, with or without cause, the Participant shall forfeit and the Company shall automatically reacquire all Units which are not, as of the time of such termination, Vested Units (“Unvested Units”), and the Participant shall not be entitled to any payment therefor (the “Company Reacquisition Right”).

  • Grant of Stock Appreciation Right Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Recipient a stock appreciation right covering ______ shares of Common Stock (the "SAR"), effective as of the Grant Date.

  • Additional Termination Rights In addition to any right to terminate this Agreement under the provisions of this Section 16, either party shall have the further right to terminate this Agreement, upon delivery of written notice to the Agent, upon the occurrence of any of the following:

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

Time is Money Join Law Insider Premium to draft better contracts faster.