Common use of Required Purchase Clause in Contracts

Required Purchase. Provided that Lessor has not exercised any other remedy inconsistent therewith, Lessee shall be obligated to purchase Lessor's interest in the Premises for the Purchase Amount (a) automatically and without notice upon the occurrence of any Lease Event of Default arising as a result of an Insolvency Event, (b) immediately upon the written demand of Lessor upon the occurrence of any other Lease Event of Default.

Required Purchase. Provided that Lessor has not exercised any other remedy inconsistent therewith, Lessee shall be obligated to purchase Lessor's interest in the Premises for the Purchase Amount Amount (a) automatically and without notice upon the occurrence of any Lease Event of Default arising as a result of an Insolvency Event, (b) immediately upon the written demand of Lessor upon the occurrence of any other Lease Event of Default.