Common use of TENANT'S OPTION TO PURCHASE Clause in Contracts

TENANT'S OPTION TO PURCHASE. So long as no Event of Default has occurred and is continuing under the terms of this Lease and the Secondary Leases, at the expiration of this Lease, Tenant shall have the option, to be exercised by written notice to Landlord at least sixty (60) days prior to the expiration of this Lease, to purchase Landlord's interest in the Leased Property at a purchase price equal to the greater of (i) the Fair Market Value of the Leased Property, or (ii) purchase price paid by Landlord to Tenant pursuant to the Purchase Agreement, plus Landlord's interest in any Capital Additions funded by the Landlord, as increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum from the date hereof, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value of the Leased Property. Unless expressly otherwise provided in this Section 17.1, in the event Tenant exercises such option to purchase Landlord's interest in the Leased Property, (i) the terms set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's option to purchase as specified herein, Landlord shall be free after the expiration of said sixty (60) day period to sell Landlord's interest in the Leased Property to any party on any terms as it deems acceptable in its sole discretion.

TENANT'S OPTION TO PURCHASE. So long as no Event In consideration of Default has occurred and is continuing under the terms of this Lease and the Secondary Leases, at the expiration conditions of this Lease, the Site Agreement, and Tenant's purchase of the Pressure Sensitive Business from Landlord, Landlord hereby grants to Tenant the right and option to purchase the Demised Premises and the Additional Land, as hereinafter defined, at any time during the term of this Lease for a purchase price of One Dollar ($1.00) (the "Purchase Option"). Any such purchase of the Demised Premises and the Additional Land by Tenant shall have be in "as is" condition, without any warranty, representation or covenant of any kind by Landlord other than those set forth in the optionAsset Purchase Agreement (which are incorporated herein by reference); provided, however that Landlord shall convey the Demised Premises and the Additional Land to Tenant by quitclaim deed with covenant, subject to the Reciprocal Easements, the exceptions to title set forth on EXHIBIT C attached hereto and made a part hereof (the "Permitted Exceptions to Title"), and subject to such other exceptions to title placed against the Demised Premises by Tenant or as a result of Tenant's use or occupancy of the Demised Premises, or as may be approved by Tenant. At the time of closing, the Reciprocal Easements, to be exercised by written notice to Landlord at least sixty (60) days prior to recorded on the expiration date of this Lease, shall become perpetual in duration, as provided therein, without the need for any further instrument or agreement. Tenant shall exercise the Purchase Option by notice to purchase Landlord's interest Landlord given in writing at any time during the Leased Property at a purchase price equal to Term of this Lease, and the greater of (i) closing on the Fair Market Value sale of the Leased Property, or (ii) purchase price paid Demised Premises and the Additional Land shall take place on a date agreed by Landlord to Tenant pursuant to the Purchase Agreementand Tenant, plus Landlord's interest in any Capital Additions funded by the Landlord, as increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum from the date hereof, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less but not later than the Fair Market Value of the Leased Property. Unless expressly otherwise provided in this Section 17.1, in the event Tenant exercises such option to purchase Landlord's interest in the Leased Property, (i) the terms set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) 60 days after the date of such notice of exercise, unless such date is extended by agreement of Landlord and Tenant. Provided Tenant has not exercised the written notice from Additional Land Option, as hereinafter defined, Tenant may elect in its sole discretion to Landlord exercise the Purchase Option with respect to only the Demised Premises, without the Additional Land. This Lease shall terminate as of Tenant's intent to purchasethe date of the sale. If Tenant does not exercise Tenant's option to purchase as specified herein, Landlord shall be free after not grant any mortgage or other encumbrance or permit any lien against the expiration of said sixty (60) day period to sell Demised Premises and/or the Additional Land, and/or Landlord's interest therein, arising through or under Landlord (but not arising through or under Tenant) during the Term of this Lease. Any such mortgage, lien or encumbrance created in violation of this provision shall automatically be deemed to be subordinate to this Lease, the Leased Property Purchase Option, and the Additional Land Option as hereinafter defined. Landlord further agrees in connection with any such sale of the Demised Premises and Additional Land to remove any party mortgage, lien or other encumbrance on the Demised Premises or the Additional Land arising through or under Landlord (but not arising through or under Tenant), but Landlord shall have no obligation to cure any terms as it deems acceptable of the Permitted Exceptions to Title. Landlord agrees to cooperate in its sole discretiongood faith with Tenant should Tenant elect to cure any Permitted Exception to Title with respect to the Demised Premises or the Additional Land in connection with the exercise of the Purchase Option by Tenant.

TENANT'S OPTION TO PURCHASE. So long as no Event of Default has occurred and is continuing under the terms of If Landlord exercises its right to terminate this Lease and the Secondary Leases, at the expiration of this Leaseunder Section 13.1, Tenant shall have the option, option to be exercised purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice to Landlord at least sixty of exercise within fifteen (6015) days prior after receipt of Landlord’s notice of termination. Upon exercise of this Option, with respect to purchasing the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the expiration Tenant, and/or one or more designee of this LeaseTenant, to purchase all of the Landlord's ’s right, title and interest in the Leased Property at a Premises for the price and upon the term set forth herein. Upon exercise of this Option, with respect to purchasing the Members’ interests in the Landlord, the Tenant shall be obligated to purchase price equal from the Members and the Members shall be obligated to convey to the greater Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under this Lease either at the time of exercise of this option or at the time of closing. (i) the Fair Market Value of the Leased Property, or (ii) purchase price paid by Landlord to Tenant pursuant to the The Purchase Agreement, plus Landlord's interest in any Capital Additions funded by Price for the Landlord, as increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum from the date hereof, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value of the Leased Property. Unless expressly otherwise provided in this Section 17.1, in the event Tenant exercises such option to purchase Landlord's ’s interest in the Leased Property, (i) Premises or the terms set forth Members’ interests in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's option to purchase as specified herein, Landlord shall be free after the expiration of said sixty (60) day period to sell Landlord's interest determined in the Leased Property to any party on any terms same manner as it deems acceptable provided in its sole discretionSection 12.2 (i), hereof.

TENANT'S OPTION TO PURCHASE. So long as no Event If Landlord does not waive a default under Section 16.1(e) (change of Default has occurred and is continuing under the terms control of this Lease and the Secondary Leases, at the expiration of this LeaseTenant), Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e). Upon exercise of this option, to be exercised by written notice to Landlord at least sixty (60) days prior with respect to the expiration of this LeasePremises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord's ’s right, title and interest in the Leased Property at a purchase Premises for the price equal to the greater of (i) the Fair Market Value of the Leased Property, or (ii) purchase price paid by Landlord to Tenant pursuant to the Purchase Agreement, plus Landlord's interest in any Capital Additions funded by the Landlord, as increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum from the date hereof, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value of the Leased Property. Unless expressly otherwise provided in this Section 17.1, in the event Tenant exercises such option to purchase Landlord's interest in the Leased Property, (i) upon the terms set forth herein. Upon exercise of this option, with respect to the Members’ interests in Section 17.2 the Landlord, the Tenant shall applybe obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and (ii) the sale/purchase must be closed within ninety (90) days after the date and/or one or more designee of Tenant, all of the written notice from Tenant to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's option to purchase as specified hereinMembers’ right, Landlord shall be free after the expiration of said sixty (60) day period to sell Landlord's title and interest in the Leased Property Landlord for the price and upon the terms set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than change in control), beyond any party on applicable grace period, under any terms as it deems acceptable in its sole discretionother provision of this Lease either at the time of exercise of this option or at the time of closing.

TENANT'S OPTION TO PURCHASE. So long as no Event of Default has occurred and is continuing under the terms of If Landlord exercises its right to terminate this Lease and the Secondary Leases, at the expiration of this Leaseunder Section 12.1, Tenant shall have the option, option to be exercised purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice to Landlord at least sixty of exercise within fifteen (6015) days prior after receipt of Landlord’s notice of termination. Upon exercise of this Option with respect to the expiration of this LeasePremises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord's ’s right, title and interest in the Leased Property at a purchase Premises for the price equal and upon the term set forth herein. Upon exercise of this Option with respect to the greater of (i) the Fair Market Value of the Leased Property, or (ii) purchase price paid by Landlord to Tenant pursuant to the Purchase Agreement, plus Landlord's interest Members’ interests in any Capital Additions funded by the Landlord, as increased by an amount equal the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the greater Tenant, and/or one or more designee of (A) two and one-half percent (2.5%) per annum from the date hereofTenant, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value all of the Leased Property. Unless expressly otherwise provided in this Section 17.1Members’ right, in the event Tenant exercises such option to purchase Landlord's title and interest in the Leased Property, (i) Landlord for the terms price and upon the term set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant herein. Tenant’s right to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's this option to purchase as specified herein, Landlord hereunder shall be free after contingent upon Tenant not being in default (excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under this Lease either at the expiration time of said sixty (60) day period to sell Landlord's interest in exercise of this option or at the Leased Property to any party on any terms as it deems acceptable in its sole discretiontime of closing.

TENANT'S OPTION TO PURCHASE. So long as no Event of Default has occurred and is continuing under the terms of If Landlord exercises its right to terminate this Lease and the Secondary Leases, at the expiration of this Leaseunder Section 12.1, Tenant shall have the option, option to be exercised purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice to Landlord at least sixty of exercise within fifteen (6015) days prior after receipt of Landlord’s notice of termination. Upon exercise of this Option with respect to the expiration of this LeasePremises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord's ’s right, title and interest in the Leased Property Premises for the price and upon the term set forth herein. Upon exercise of this Option with respect to the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under this Lease either at a purchase price the time of exercise of this option or at the time of closing. (i) The Purchase Price for the Landlord’s interest in the Premises or the Members’ interests in the Landlord shall be equal to the greater sum of (A) the product of (i) the Fair Market Value of the Leased Property, or $10,970,000.00 multiplied by (ii) purchase price paid the percentage set forth on Exhibit D attached hereto for the applicable Purchase Date minus, if the Project Financing (as hereinafter defined) is assumed by Landlord to Tenant pursuant to the Purchase AgreementTenant, plus Landlord's interest in any Capital Additions funded by the Landlord, as increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum from the date hereof, or (B) the rate then outstanding principal balance due under the Project Financing, plus (C) any other costs incurred by the Landlord of increase a capital nature in connection with the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value ownership of the Leased Property. Unless expressly otherwise provided in this Section 17.1, in the event Tenant exercises such option to purchase Landlord's interest in the Leased Property, (i) the terms set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's option to purchase as specified herein, Landlord shall be free after the expiration of said sixty (60) day period to sell Landlord's interest in the Leased Property to any party on any terms as it deems acceptable in its sole discretion.Premises not

TENANT'S OPTION TO PURCHASE. So long as no Event If Landlord does not waive a default under Section 16.1(e) (change of Default has occurred and is continuing under the terms control of this Lease and the Secondary Leases, at the expiration of this LeaseTenant), Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e). Upon exercise of this option, to be exercised by written notice to Landlord at least sixty (60) days prior with respect to the expiration of this LeasePremises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord's ’s right, title and interest in the Leased Property at a purchase Premises for the price equal and upon the terms set forth herein. Upon exercise of this option, with respect to the greater Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than change in control), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing. (i) The Purchase Price for the Fair Market Value of Landlord’s interest in the Leased PropertyPremises shall be determined in the same manner as provided in Section 12.2 (i), or hereof. (ii) The entire purchase price shall be paid in full, by Landlord certified or cashier’s check made payable the Landlord, or by wire transfer of funds to Tenant pursuant to the Purchase Agreement, plus Landlord's interest in any Capital Additions funded a bank account designated by the Landlord, as increased by an amount equal at closing. It is intended that the Purchase Price paid to the greater Landlord hereunder be net of (A) two any and one-half percent (2.5%) per annum from all conveyance fees and transaction costs other than the date hereofLandlord’s attorneys’ fees. Therefore, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein addition to the contraryPurchase Price, in no event Tenant shall pay all costs of assuming the purchase price be less than the Fair Market Value of the Leased Property. Unless expressly otherwise provided in this Section 17.1Project Financing (or all costs and prepayment charges, in the event Tenant exercises such option to purchase Landlord's interest in the Leased Propertyif any, (i) the terms set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant to Landlord of Tenant's intent to purchase. If if Tenant does not exercise Tenant's option assume the Project Financing and pays off the Project Financing) and all other fees and expenses conveying fee title to purchase as specified hereinthe Premises, Landlord including, but not limited to, state and local transfer fees, recording costs and title insurance premiums otherwise typically the responsibility of a seller, provided that each party shall be free after the expiration of said sixty (60) day period to sell Landlord's interest in the Leased Property to any party on any terms as it deems acceptable in pay its sole discretionown attorneys’ fees.

TENANT'S OPTION TO PURCHASE. So long as no Event of Default has occurred and is continuing under the terms of If Landlord exercises its right to terminate this Lease and the Secondary Leases, at the expiration of this Leaseunder Section 13.1, Tenant shall have the option, option to be exercised purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice to Landlord at least sixty of exercise within fifteen (6015) days prior after receipt of Landlord’s notice of termination. Upon exercise of this Option, with respect to purchasing the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the expiration Tenant, and/or one or more designee of this LeaseTenant, to purchase all of the Landlord's ’s right, title and interest in the Leased Property at a purchase Premises for the price equal and upon the term set forth herein. Upon exercise of this Option, with respect to purchasing the greater of (i) the Fair Market Value of the Leased Property, or (ii) purchase price paid by Landlord to Tenant pursuant to the Purchase Agreement, plus Landlord's interest Members’ interests in any Capital Additions funded by the Landlord, as increased by an amount equal the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the greater Tenant, and/or one or more designee of (A) two and one-half percent (2.5%) per annum from the date hereofTenant, or (B) the rate of increase in the Consumer Price Index on each Adjustment Date. Notwithstanding anything contained herein to the contrary, in no event shall the purchase price be less than the Fair Market Value all of the Leased Property. Unless expressly otherwise provided in this Section 17.1Members’ right, in the event Tenant exercises such option to purchase Landlord's title and interest in the Leased Property, (i) Landlord for the terms price and upon the term set forth in Section 17.2 shall apply, and (ii) the sale/purchase must be closed within ninety (90) days after the date of the written notice from Tenant herein. Tenant’s right to Landlord of Tenant's intent to purchase. If Tenant does not exercise Tenant's this option to purchase as specified herein, Landlord hereunder shall be free after contingent upon Tenant not being in default (excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under this Lease either at the expiration time of said sixty (60) day period to sell Landlord's interest in exercise of this option or at the Leased Property to any party on any terms as it deems acceptable in its sole discretiontime of closing.