Common use of Expiration Date Purchase Obligation Clause in Contracts

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised the Purchase Option pursuant to Section 20.1 and purchased the Property pursuant thereto, (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the conditions of clauses (a) through (j) of Section 22.1 hereof, or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1 and the terms and conditions of a Renewal Term shall have been agreed upon pursuant to such Section, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 19.1(a), the Lessee shall purchase from the Lessor, and the Lessor shall assign to the Lessee without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest in the Property for an amount equal to the Asset Termination Value, including a release or assignment of the lien of the Mortgage and the lien created by this Lease. The Lessee may designate, in a notice given to the Lessor not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Lease, including, without limitation, the obligation to pay the Lessor an amount equal to the Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have ----------------------------------- properly exercised the Purchase Option or the Partial Purchase Option pursuant to Section 20.1 and purchased all of the Property pursuant thereto, (b) the ------------ Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the conditions of clauses ------- (a) through (j) of Section 22.1 hereof, or (c) the Lessee shall have properly --- ------------ exercised the Renewal Option pursuant to Section 21.1 and the terms and ------------ conditions of a Renewal Term shall have been agreed upon pursuant to such Section, then, subject to the terms, conditions and provisions set forth in this ArticleSection 20.2, and in accordance with the terms of Section 19.1(a), the Lessee ------------ -------------- shall purchase from the Lessor, and the Lessor shall assign and convey to the Lessee without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest ------------ in the Property for an amount equal to the Asset Termination Value, including a release or assignment of Value (the lien of the Mortgage and the lien created by this Lease"Expiration Date Purchase Obligation"). The Lessee may designate, in a notice ----------------------------------- given to the Lessor not less than ten five (105) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or -------- ------- transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Lease, including, without limitation, the obligation to pay the Lessor an amount equal to the Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall ----------------------------------- have properly exercised the Purchase Option or the Partial Purchase Option pursuant to Section 20.1 and purchased all of the Property pursuant thereto, (b) ------------ the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the conditions of clauses (a) through (j) of Section 22.1 ----------- --- ------------ hereof, or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1 and the terms and conditions of a Renewal Term shall ------------ have been agreed upon pursuant to such Section, then, subject to the terms, conditions and provisions set forth in this ArticleSection 20.2, and in accordance with ------------ the terms of Section 19.1(a), the Lessee shall purchase from the Lessor, and the --------------- Lessor shall assign and convey to the Lessee without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of ------------ the Lessor's right, title and interest in the Property for an amount equal to the Asset Termination Value, including a release or assignment of Value (the lien of the Mortgage and the lien created by this Lease"Expiration Date Purchase Obligation"). The ----------------------------------- Lessee may designate, in a notice given to the Lessor not less than ten five (105) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, -------- ------- that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Lease, including, without limitation, the obligation to pay the Lessor an amount equal to the Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have ----------------------------------- properly exercised the Purchase Option pursuant to Section 20.1 and purchased ------------ the Property pursuant thereto, (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the conditions of clauses (a) ----------- through (jk) of Section 22.1 hereofhereof and the Lessor shall have sold its interest --- ------------ in the Property pursuant thereto, or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1 and the terms and ------------ conditions of a Renewal Term shall have been agreed upon pursuant to such Section, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 19.1(a), the Lessee shall --------------- purchase from the Lessor, and the Lessor shall assign to the Lessee without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest in the ------------ Property (subject to all existing Liens, other than the Mortgage and Lessor Liens) for an amount equal to the Asset Termination Value, including a release or assignment Value (offsetting against such amount the aggregate amount of the lien of the Mortgage Defeasance Deposit Collateral and the lien created by this LeaseCash Collateral, if any). The Lessee may designate, in a notice given to the Lessor not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall -------- ------- not cause the Lessee to be released, fully or partially, from any of its obligations under this Lease, including, without limitation, the obligation to pay the Lessor an amount equal to the Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.