Purchase of Property Clause Samples

Purchase of Property. 3. Irrevocable Date a) This APS shall be open for acceptance by the Vendor until the 21st day of July 2022, and when accepted shall constitute a binding contract of purchase and sale, otherwise the APS shall be null and void and all deposit monies paid shall be returned to the Purchaser without deduction.

Purchase of Property. On the Closing Date, and subject to the terms and conditions of this Agreement, each Seller shall sell, assign, convey, transfer and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such Seller’s right, title and interest in and to the Property, or Properties, owned by such Seller, free and clear of Liens and Encumbrances that are not Permitted Exceptions, at the purchase price provided in Section 2.2 hereof. Purchaser hereby acknowledges and agrees that this Agreement is for the purchase and sale of all of the Properties and that under no circumstances shall Purchaser purchase fewer than all of the Properties, except as expressly set forth in Sections 4.2.2, 9.2 and 12.13 herein.

Purchase of Property. To purchase and subscribe for, any securities or other property and to retain the same in the Trust Fund.

Purchase of Property. Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller, the Property (as described in Paragraph 2.1), in consideration for the payment of the Purchase Price (as described in Paragraph 2.2), pursuant to the terms set forth in this Agreement.

Purchase of Property. Lessee may, by written notice to Lessor given not more than thirty nor less than eighteen months prior to the end of the initial term or any renewal term of this Lease elect to have the Property appraised by three qualified appraisers, one of whom shall be promptly selected by Lessor, one of whom shall be promptly selected by Lessee and one of whom shall be promptly selected by said two appraisers selected by Lessor and Lessee, which appraisers shall undertake, at Lessee's sole expense, to appraise the Property at least by the thirtieth day before the beginning of the last year of the then current term of this Lease. Upon receipt of a written appraisal agreed upon in writing by at least two of said appraisers, Lessee may, by written notice to Lessor given prior to the beginning of such last year, elect and, subject to obtaining necessary approvals of regulatory authorities having jurisdiction, shall thereupon become obligated to purchase the Leased Property at any time designated in such notice during such last year and at least sixty days after the date of such notice. for a Purchase Price equal to the then value of the Leased Property as appraised by said appraisers, as aforesaid which Purchase Price shall be increased by an amount equal to the net amount theretofore expended by Lessor to restore the Leased Property after any damage thereto or destruction or Taking thereof or successful assertion of title paramount thereto which occurred prior to such appraisal, and is reflected in such appraisal, and which Purchase Prices shall be decreased by the appraised amount of any loss in value of the Leased Property due to any damage, destruction. successful assertion of title paramount or Taking referred to in sections 21, 23, 24 or 2: which occurred after such appraisal, and is not reflected in such appraisal, to the extent that such loss has not been restored by Lessor such appraised amount to be determined by said appraisers as soon as possible after the occurrence involving such decrease in value in the same manner as the Purchase Price was determined, provided, that such Purchase Price shall in no event be less than $950,000 if such purchase is made during the last year of the initial term of this Lease nor less than $665,000 if such purchase is made during the last year of the first renewal term of this Lease. nor less than $380,000 if such purchase is made during the last year of the second renewal term of this Lease. If necessary approvals of regulatory...

Purchase of Property. On the Closing Date, and subject to the terms and conditions of this Agreement, each Seller shall sell, assign, convey, transfer and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such Seller’s right, title and interest in and to the Property, or Properties, owned by such Seller, free and clear of Liens and Encumbrances that are not Permitted Exceptions, at the purchase price provided in Section 2.2 hereof.

Purchase of Property. Upon receipt of any notice pursuant to Section 15.2 or 15.3, the Lessor or the Required Participants, at the Lessee's expense, shall have the right to select an independent environmental consultant acceptable to the Lessee, which acceptance shall not be unreasonably withheld or delayed, to determine the estimated cost of conducting any clean-up or remediation required as a result of the Environmental Violation disclosed in such notice. If such independent environmental consultant determines that the cost of any such clean-up or remediation would exceed thirty percent (30%) of the original Property Cost, the Lessor shall, at the direction of the Required Participants, by written notice require the Lessee to purchase, or arrange for an Affiliate of Lessee or other third party to purchase, the Property on the Termination Date by delivering a Termination Notice following the requirements of Section 16.2 hereof. 17.1 < u>

Purchase of Property. Upon receipt of any notice pursuant to -------------------- Section 15.2 or 15.3, the Lessor or the Required Participants, at the Lessee's ------------ ---- expense, shall have the right to select an independent environmental consultant acceptable to the Lessee, which acceptance shall not be unreasonably withheld or delayed, to determine the estimated cost of conducting any clean-up or remediation required as a result of the Environmental Violation disclosed in such notice. If such independent environmental consultant determines that the cost of any such clean-up or remediation would exceed fifteen percent (15%) of the original Property Cost, the Lessor shall, at the direction of the Required Participants, by written notice require the Lessee to purchase, or arrange for an Affiliate or other third party to purchase, the Property on the Expiration Date by delivering a Termination Notice following the requirements of Section ------- 16.2 hereof. ----

Purchase of Property. As consideration for the Property, the City shall pay the sum of One Million Three Hundred Fifty Thousand and 00/100 Dollars ($1,350,000). City shall pay Seller a refundable ▇▇▇▇▇▇▇ money in the amount of Seventy-Five Thousand and 00/100 Dollars ($75,000) by check within 45 days of execution of this Purchase Agreement by City, which shall be applied to the purchase price at closing. In the event that this transaction does not close for any reason, ▇▇▇▇▇▇ agrees to refund the ▇▇▇▇▇▇▇ money in full within 45 days of City’s written demand for the deposit. City shall pay Seller the remainder of the purchase price, or One Million Two Hundred Seventy-Five Thousand and 00/100 Dollars ($1,275,000) by check at closing, except that if any damages are due and owing to the City pursuant to Section 6, the parties agree that the purchase price shall be reduced in the amount of any such damages.