Common use of PURCHASE OF LEASED PROPERTY Clause in Contracts

PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase the applicable Leased Property from Landlord pursuant to the terms of the applicable Lease, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, and so long as no Default shall have occurred and be continuing at such time (or, solely in the case of the purchase of the Collective Leased Properties pursuant to Section 21.4, so long as no Default involving the nonpayment of Rent shall have occurred and be continuing), deliver to Tenant a title insurance policy, together with an appropriate deed or other instruments, conveying the entire interest of Landlord in and to such Leased Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) those liens, if any, which Tenant has agreed in writing to accept and take title subject to, and (ii) encumbrances imposed on such Leased Property under Section 5.5 hereof. The difference between the applicable purchase price and the total cost of discharging the encumbrances described in clause (i) above shall be paid in cash to Landlord or as Landlord may direct, in federal or other immediately available funds. Other than as specifically provided above, such Leased Property shall be conveyed to Tenant on an "as is" basis, and in its then physical condition. The closing of any such sale shall be subject to all terms and conditions with respect thereto set forth in the applicable Lease and in the other Transaction Documents, and shall, unless waived by Tenant, be contingent upon and subject to Tenant's obtaining all required governmental consents and approvals for such transfer. All expenses of such conveyance, including, without limitation, all transfer and sales taxes, documentary fees, the fees and expenses of counsel to Landlord and the cost of any title examination or title insurance, shall be paid by Tenant.

PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase the applicable Leased Property from Landlord pursuant to the terms of the applicable Lease, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, and so long as no Default shall have occurred and be continuing at such time time, (or, solely in the case of the purchase of the Collective Leased Properties pursuant to Section 21.4, so long as no Default involving the nonpayment of Rent shall have occurred and be continuing), deliver to Tenant a title insurance policy, together with an appropriate deed or other instruments, conveying the entire interest of Landlord in and to such Leased Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) those liens, if any, which Tenant has agreed in writing to accept and take title subject to, and anx (iixx) encumbrances imposed on such Leased Property under Section 5.5 hereof. The difference between the applicable purchase price and the total cost of discharging the encumbrances described in clause (i) above shall be paid in cash to Landlord or as Landlord may direct, in federal or other immediately available funds. Other than as specifically provided above, such Leased Property shall be conveyed to Tenant on an "as is" basis, and in its then physical condition. The closing of any such sale shall be subject to all terms and conditions with respect thereto set forth in the applicable Lease and in the other Transaction Documents, and shall, unless waived by Tenant, be contingent upon and subject to Tenant's obtaining all required governmental consents and approvals for such transfer. All expenses of such conveyance, including, without limitation, all transfer and sales taxes, documentary fees, the reasonable fees and expenses of counsel to Landlord and the cost of any title examination or title insurance, shall be paid by Tenant.

PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase the applicable Leased Property from Landlord pursuant to the terms of the applicable LeaseLease and this Master Lease Document, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, and so long as no Default shall have occurred and be continuing at such time (or, solely in the case of the purchase of the Collective Leased Properties pursuant to Section 21.4, so long as no Default involving the nonpayment of Rent shall have occurred and be continuing)time, deliver to Tenant a title insurance policy, together with an appropriate deed or other instruments, conveying the entire interest of Landlord in and to such Leased Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) those liens, if any, which Tenant has agreed in writing to accept and take title subject to, and (ii) encumbrances imposed on such Leased Property under Section 5.5 hereof. The difference between the applicable -43- purchase price and the total cost of discharging the encumbrances described in clause (i) above shall be paid in cash to Landlord or as Landlord may direct, in federal or other immediately available funds. Other than as specifically provided above, such Leased Property shall be conveyed to Tenant on an "as is" basis, and in its then physical condition. The closing of any such sale shall be subject to all terms and conditions with respect thereto set forth in the applicable Lease and in the other Transaction Documents, and shall, unless waived by Tenant, be contingent upon and subject to Tenant's obtaining all required governmental consents and approvals for such transfer. All expenses of such conveyance, including, without limitation, all transfer and sales taxes, documentary fees, the fees and expenses of counsel to Landlord and the cost of any title examination or title insurance, shall be paid by Tenant.

PURCHASE OF LEASED PROPERTY. In the event Tenant shall purchase any of the applicable Collective Leased Property Properties from Landlord pursuant to the terms of the applicable Leasethis Agreement, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent and other charges due and payable with respect to any period ending on or before the date of the purchase, and so long as no Default shall have occurred and be continuing at such time (or, solely in the case of the purchase of the Collective Leased Properties pursuant to Section 21.4, so long as no Default involving the nonpayment of Rent shall have occurred and be continuing), deliver to Tenant a title insurance policy, together with an appropriate deed or other instruments, conveying the entire interest of Landlord in and to such Leased Property to Tenant, free and clear of all encumbrances created through the act or omission of Landlord other than (i) those Permitted Encumbrances and such other liens, if any, which Tenant has agreed in writing to accept and take title subject to, and (ii) encumbrances imposed on such Leased Property under Section 5.5 hereof5.5. The -61- difference between the applicable purchase price and the total cost of discharging the encumbrances described in clause (i) above preceding shall be paid in cash to Landlord or as Landlord may direct, in federal or other by wire transfer of immediately available federal funds. Other than as specifically provided above, such Such Leased Property shall be conveyed to Tenant on an "as is" basis, basis and in its then "as-is" physical condition. The closing of any such sale shall be subject to all terms and conditions with respect thereto set forth in the applicable Lease and in the other Transaction Documents, this Agreement and shall, unless waived by Tenant, be contingent upon and subject to Tenant's obtaining all required governmental consents and approvals for such transfer. All expenses of such conveyance, including, without limitation, all transfer and sales taxes, documentary fees, the fees and expenses of counsel to Landlord and the cost of any title examination or title insurance, shall be paid by Tenant.