Exercise of Option to Purchase. At any time on or prior to the Termination Date, the Receiver shall have the option, exercisable by notice to the Assuming Institution, to purchase a Shared-Loss Asset or an Asset on which a Failed Bank Charge-Off has been effected which meets any of the following criteria:
Exercise of Option to Purchase. The Purchaser may exercise the Option at any time until 5:00 pm on the Option Expiry Date by delivering to the Vendor a written notice of the exercise of the Option. If the Option is exercised as set forth in this Section 2.4, this Agreement shall become a binding agreement for the purchase and sale of the Property which shall be completed on the Closing Date upon the terms and conditions contained in this Agreement.
Exercise of Option to Purchase. During the term of the Option to Purchase, Optionee may exercise its Option to Purchase by giving notice of its exercise of said Option to Purchase (“Option Exercise Notice”) as provided herein. The Option Exercise Notice shall be made utilizing the form of Option Exercise Notice attached hereto as Exhibit “G” and shall be given on or before September 1 of any year during the term of this Option and shall be deemed exercised as of November 1 of such year (the “Option Exercise Date”). Without Optionor’s written consent, no Option Exercise Notice may be given prior to September 1, 2008. The effective date for the purchase of the Assets shall be 7:00 a.m., Central Standard Time, on January 1 following such Option Exercise Date (“Exercise Effective Time”). Optionee’s right to utilize the Asset shall be effective as of the Exercise Effective Time.
Exercise of Option to Purchase. At any time during the Option Term, but in no event later than 11:59 PM. on the last day of the Option Term, Optionee shall have the right, in its sole and absolute discretion, to exercise the Option by giving Optionor written notice of such exercise in accordance with the notice provisions set forth in Article 6 of this Agreement (“Optionee’s Notice”). Concurrently, with Optionee’s Notice, Optionee shall execute and deliver to Optionor an original of the Purchase Agreement in the form attached hereto as Exhibit B. Immediately upon receipt, Optionor shall execute the Purchase Agreement, and promptly cause an escrow to be opened with the Escrow Holder specified in the Purchase Agreement to whom the fully executed Purchase Agreement shall be sent.
Exercise of Option to Purchase. At any time during the term of this Lease, so long as (a) Tenant is not in default of any of the terms of this Lease, the Track Use Agreement or that certain Anacortes Mutual Track Use Agreement dated as of the date hereof between Landlord and Tenant (the "MUTA"), and (b) as a condition to such exercise, Tenant agrees that for so long as Landlord is operating the Refinery and requires the operation of the Rail Facility in connection therewith, Tenant and its successors and assigns will continue to operate the Rail Facility on the Premises in compliance with applicable agreements between Landlord and Tenant that exist at the time. Tenant may exercise the Option to Purchase by providing written notice to Landlord in the manner provided in Section 20.03 below stating that Tenant is exercising the Option to Purchase, and (2) depositing the purchase price in the amount of One Dollar ($1.00) with First American Title Insurance Company (the “Closing Agent”) or such other title insurance company as is satisfactory to the parties. The date on which Tenant exercises the Option to Purchase is the “Exercise Date.”
Exercise of Option to Purchase. Provided Tenant is not then in material default under the Lease, Tenant may exercise its Option to Purchase as follows: (i) If Landlord is in default under the Financing Documents or the Agency Documents or a foreclosure action is commenced against Landlord and Landlord has failed to cure the default or obtain a dismissal of the foreclosure within thirty (30) days, Tenant may exercise its Option upon ten (10) days’ written notice to Landlord and Landlord Lender. The notice shall include a date of closing of the sale (the “Closing Date”) which shall be not more than sixty (60) days after the date of the notice. (ii) Otherwise, Tenant may exercise its Option at the end of the Initial Term by giving Landlord written notice at least twelve (12) months in advance of the end of the Initial Term. The Closing Date shall be the last day of the Initial Term. (iii) During any Renewal Term, Tenant may exercise its Option to Purchase by giving Landlord at least twelve (12) months’ advance written notice. In such case, the Closing Date shall be the last day of the notice period.
Exercise of Option to Purchase. Borrower agrees to (a) exercise all of the renewal options granted to the tenant in the that certain Lease and Option to Purchase, a copy of which was recorded on August 31, 1967 in Book 67-08-31 at Page 1196 in the Official Records of Sacramento County (the "Air Rights Lease") in accordance with the terms of the Air Rights Lease and (b) so long as the Loan remains outstanding, the Borrower must, in the event that the Air Rights Lease cannot be extended beyond the renewals currently granted therein, exercise its option to purchase the Leased Property (as defined in the Air Rights Lease) no later than one (1) year prior to the date that the last renewal term of the Air Rights Lease expires, or, in the event that the Air Rights Lease has been amended or otherwise modified to grant Borrower additional renewal term options, then the Borrower may extend the term of the Air Rights Lease through the Scheduled Maturity Date of the Loan (if such extensions are available to Borrower). From the date hereof until payment and performance in full of all obligations of Borrower under the Loan Documents or the earlier release of the Liens of all Mortgages encumbering the Collateral Properties in accordance with the terms of this Agreement and the other Loan Documents, each Borrower covenants and agrees with Lender that it will not do, directly or indirectly, any of the following:
Exercise of Option to Purchase. In the event Buyer or its successors or assigns shall duly exercise this option to purchase said premises:
Exercise of Option to Purchase. The Grantee shall have the one time right, by providing written notice and one time extension fee of $25,000.00 by cheque to the Grantor on or before 5:00 p.m. on the initial Option to Purchase Expiry Date set out in Section 1(m) above, to extend the Option to Purchase Expiry Date by a period of one (1) year. The Grantee shall have the right to, on or before 5:00 p.m. on the Option to Purchase Expiry Date (as such date may be extended in accordance with the foregoing), either:
Exercise of Option to Purchase. So long as Tenant in not in material default under the Lease, Tenant may exercise the Option To Purchase, if at all, after the thirty-sixth (36th) month of the Lease Term and Tenant and/or any entity controlling Tenant, controlled by Tenant or under common control with Tenant (a “Tenant Affiliate”) shall have an ongoing right to purchase the Premises through the end of the Lease Term (“Exercise Period”), by delivering to Landlord a written notice stating that Tenant has elected to exercise the Option To Purchase and will purchase the Premises on the terms and conditions set forth in this Lease. The applicable written notice given pursuant to this Section 18 (c) is hereinafter referred to as the “Option To Purchase Notice.”
