OPTION PARCEL Sample Clauses

OPTION PARCEL. Lessee hereby relinquishes and forever terminates its option, right of first refusal or any other rights relating to the Option Parcel referred to in the Development Agreement, dated September 14, 1993, by and among Lessor, URA and Lessee. During the Term Of the Lease, however, Lessee shall have the right of first offer to lease space in any building constructed on the Option Parcel by Lessor. When Lessor develops preliminary plans to construct a building on the Option Parcel, it will give notice to Lessee and provide to Lessee preliminary site, designs, and floor plans and the proposed rental rates. Thereafter, Lessee shall have sixty (60) days to commit to a specified amount of square footage in the new building on the terms offered by Lessor. Lessor or its agents may market the new building while Lessee is considering its needs but will not commit any square footage in the building until the sixty (60) day period has expired. If, at the expiration of said sixty (60) day period, Lessee has not elected to commit to square footage in the building or has elected to commit to a portion of the building, Lessor may thereafter commit to lease the building or portions of the building not committed by Lessee to third parties upon terms not more favorable than those offered to Lessee.
Sample 1
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OPTION PARCEL. Option Parcel" shall have the meaning given to it in Section 2.3.
Sample 1
OPTION PARCEL. From the Date of this Agreement until [*] after the Closing Date (the "Option Period"), Buyer shall have the right to purchase the parcel of land containing approximately 6.5 acres of land located in Freetown, Massachusetts, shown on Schedule OP (the "Option Parcel"), for the price of [*]. Buyer's proposed purchase of the Option Parcel is based on its desire to access that portion of Xxxxx Xxxxx currently owned by Seller so Buyer can draw water and transport it back to the Property. Seller agrees to cooperate reasonably with and support Buyer in connection with its efforts to secure any permits, approvals, and licenses necessary to draw and to transport the water from Xxxxx Xxxxx. Seller further agrees not to alter the Option Parcel or to otherwise negatively impact Xxxxx Xxxxx or its natural flow during the Option Period. Buyer shall exercise this right by giving written notice to Buyer prior to the end of the Option Period. If Buyer exercises its right to purchase from Seller then the parties agree to negotiate the terms of the sale in good faith and consummate the same within sixty (60) days of Buyer's election to purchase the Option Parcel. If Buyer does not deliver such notice prior to the end of the Option Period, or, if, having delivered such notice, Buyer does not consummate the same within such sixty-day period, the option set forth in this Section 2.3 shall expire and shall have no further force or effect. This Section 2.3 shall survive the Closing.
Sample 1

Related to OPTION PARCEL

  • Project Site The “Project Site” is the place where the Work is being carried on.

  • Tax Parcels Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, which shall be effective for the next tax year.

  • Owned Property We do not cover property damage to property owned by any insured or any other resident of any insured's household. This includes expenses and costs incurred by any insured or others to repair, replace, restore or maintain such property to prevent injury to a person or damage to property of others, whether on or away from an insured location.

  • Leased Property Upon and subject to the terms and conditions hereinafter set forth, Landlord leases to Tenant and Tenant leases from Landlord all of Landlord's right, title and interest in and to all of the following (collectively, the "Leased Property"):

  • Land The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);

  • Ground Lease Reserved.

  • Real Property (a) The Company does not own any real property.

  • The Property The Landlord agrees to lease the described property below to the Tenant: (enter the property information)

  • Water Rights Water rights and/or water shares used in connection with the Property;

  • Ground Leases For purposes of this Exhibit C, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

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