Common use of Relative Position of Option and Indenture Clause in Contracts

Relative Position of Option and Indenture. The option to purchase the Project granted to the Developer in this Article shall be and remain prior and superior to the Indenture and may be exercised whether or not the Developer is in default under this Lease; provided that such option will not result in nonfulfillment of any condition to the exercise of any such option (including the payment of all amounts specified in Section 11.1) and further provided that the option herein granted shall terminate upon the termination of this Lease.

Relative Position of Option and Indenture. The option to purchase the Project granted to the Developer Company in this Article shall be and remain prior and superior to the Indenture and may be exercised whether or not the Developer Company is in default under this Lease; Lease or the Indenture, provided that such option default will not result in nonfulfillment of any condition to the exercise of any such option (including the payment of all amounts specified in Section 11.111.1 hereof) and further provided that the option all options herein granted shall terminate upon the termination of this Lease.