Option to Acquire the Centralia Plant Under Certain Circumstances Sample Clauses

Option to Acquire the Centralia Plant Under Certain Circumstances. During the Original Term (five years), in the event of a Change in Control of the Producer (as hereinafter defined) or an Acquisition of the Producer (as hereinafter defined) without the prior written consent of Buyer (which consent may be withheld by Buyer in its sole discretion), Buyer shall, for a period of six months after Buyer receives notice of such event, have the option to purchase the real property relating to the Centralia Plant and all attachments to the real property necessary for the manufacture of Buyer's Products located at the Centralia Plant for the Fair Market Value (as hereinafter defined) of such property. This option shall in no way hinder or prevent Producer from entering into any Acquisition or Change of Control, but shall only affect ownership rights in the Centralia Plant. Buyer shall be entitled to exercise such option by giving written notice of such exercise at any time within such six month period. The closing of such purchase shall occur within sixty days of the exercise of such option. Buyer shall be transferred fee simple title to all such property, free and clear of all material liens and encumbrances, and Buyer shall deliver to the transferor of such property the purchase price in cash at the closing. Buyer and the transferor shall each be responsible for making payments or delivering documents as are customary and usual in transactions of this nature in Centralia, Illinois (e.g., proration of real estate taxes, delivery of survey, title insurance, etc.). In the event that Buyer exercises such option, the rights of Producer (or its successors or assigns) under this Agreement (including any rights to produce Products under this Agreement) shall terminate.
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