Common use of Option Event Clause in Contracts

Option Event. If at any time during the Term, either (either of which is referred to herein as an “Option Event”): (i) Grantor terminates the Property from the relevant Supply Agreement for any reason (including as part of the entire termination of one or both of the Supply Agreements); or (ii) Grantee terminates the Property from the relevant Supply Agreement in accordance with the terms of such agreement (including as part of the entire termination of one or both of the Supply Agreements); then Grantee, or its nominee, shall have the right, but not the obligation, to purchase the Property from Grantor or any Successor Owner, under the terms and conditions of this Section 1. Valero/Corner Store

Option Event. If at any time during the Term, either (either of which is referred to herein as an “Option Event”): (i) Grantor terminates the Property from the relevant Supply Agreement for any reason (including as part of the entire termination of one or both of the Supply Agreements); or (ii) Grantee terminates the Property from the relevant Supply Agreement in accordance with the terms of such agreement (including as part of the entire termination of one or both of the Supply Agreements); then Grantee, or its nominee, shall have the right, but not the obligation, to purchase the Property from Grantor or any Successor Owner, under the terms and conditions of this Section 1. Valero/Corner StoreMaster Agreement EXHIBIT C - Page 1