Common use of FIRST RIGHT TO PURCHASE Clause in Contracts

FIRST RIGHT TO PURCHASE. During the term of this lease, provided Lessee is not in default in the performance of any of its obligations hereunder, the Lessee shall have the first right to purchase the Premises if the Lessors receive a bona fide offer to purchase the same from a third party which they desire to accept, or if the Lessors offer to sell the same. In either such case the Lessors shall give Lessee written notice of such offer and of all of the terms and conditions thereof, and thereafter the Lessee shall have twenty (20) days in which to exercise this first right to purchase by giving to Lessors written notice of Lessee's election so to do. If this first right to purchase is not so exercised by Lessee within said twenty (20) days' period, it shall lapse and shall be of no further force or effect and Lessors thereafter shall be free to sell the Premises to a third party within one hundred and eighty (180) days after Lessee's first right to purchase lapses, but not for a lesser price or on terms substantially more favorable to the purchaser. Any such sale to a third party shall be subject to this lease, it being expressly understood and agreed that this lease shall continue in full force and effect notwithstanding said sale.

FIRST RIGHT TO PURCHASE. During the term Term and so long as no Event of this leaseDefault shall have occurred and is then continuing, provided Lessee is not in default in the performance of any of its obligations hereunder, the Lessee shall have the first right to purchase the Premises if the Lessors receive Lessor receives a bona fide offer to purchase the same from a third party which they desire it desires to accept, or if the Lessors offer Lessor offers to sell the same. In either such case the Lessors Lessor shall give Lessee written notice of such offer and of all of the terms and conditions thereof, and thereafter the Lessee shall have twenty (20) days in which to exercise this first right to purchase by giving to Lessors Lessor written notice of Lessee's election to do so. If this first right to purchase is so to doexercised by Lessee within said twenty (20)-day period, such purchase shall be consummated upon the terms and conditions specified in such offer; provided, however, that the date for closing of such purchase shall be not less than sixty (60) days after the date of Lessee's notice of election. If this first right to purchase is not so exercised by Lessee within said twenty (20) days' 20)-day period, it shall lapse and shall be of no further force or effect and Lessors Lessor thereafter shall be free to sell the Premises to a third party within one hundred and eighty (180) days after Lessee's first right to purchase lapses, but not for a lesser price or on terms substantially more favorable in any material respect to the purchaser. Any such sale to a third party shall be subject to this leaseLease, it being expressly understood and agreed that this lease Lease shall continue in full force and effect notwithstanding said sale.

FIRST RIGHT TO PURCHASE. During the term Term and so long as no Event of this leaseDefault shall have occurred and is then continuing, provided Lessee is not in default in the performance of any of its obligations hereunder, the Lessee shall have the first right to purchase the Premises if the Lessors receive Lessor receives a bona fide offer to purchase the same from a third party which they desire it desires to accept, or if the Lessors offer Lessor offers to sell the same. In either such case the Lessors Lessor shall give Lessee written notice of such offer and of all of the terms and conditions thereof, and thereafter the Lessee shall have twenty (20) days in which to exercise this first right to purchase by giving to Lessors Lessor written notice of Lessee's election to do so. If this first right to purchase is so to doexercised by Lessee within said twenty (20)-day period, such purchase shall be consummated upon the material terms and conditions specified in such offer; provided, however, that the date for closing of such purchase shall be not less than sixty (60) days after the date of Lessee's notice of election. If this first right to purchase is not so exercised by Lessee within said twenty (20) days' 20)-day period, it shall lapse and shall be of no further force or effect and Lessors Lessor thereafter shall be free to sell the Premises to a third party within one hundred and eighty (180) days after Lessee's first right to purchase lapses, but not for a lesser price or on terms substantially more favorable in any material respect to the purchaser. Any such sale to a third party shall be subject to this leaseLease, it being expressly understood and agreed that this lease Lease shall continue in full force and effect notwithstanding said sale.

FIRST RIGHT TO PURCHASE. During the term of this lease, provided Lessee is not in default in the performance of any of its obligations hereunder, the Lessee shall have the first right to purchase the Premises if the Lessors receive a bona fide offer to purchase the same from a third party which they desire to accept, or if the Lessors offer to sell the same. In either such case the Lessors shall give Lessee written notice of such offer and of all of the terms and conditions thereof, and thereafter the Lessee shall have twenty (20) days in which to exercise this first right to purchase by by, giving to Lessors written notice of Lessee's election so to do. If this first right to purchase is not so exercised by Lessee within said twenty (20) days' period, it shall lapse and shall be of no further force or effect and Lessors thereafter shall be free to sell the Premises to a third party within one hundred and eighty (180) days after Lessee's first right to purchase lapses, but not for a lesser price or on terms substantially more favorable to the purchaser. Any such sale to a third party shall be subject to this lease, it being expressly understood and agreed that this lease shall continue in full force and effect notwithstanding said sale.