Tenant’s Purchase Option. Tenant shall have the option (the “Purchase Option”), at any time during the Term following the earlier of (x) Landlord’s completion of construction of the Tower (as more particularly described on Schedule 7.1, the “Tower”) and (y) Landlord’s fulfillment of its obligations under California Law to ensure that the Improvements, including the Tower, are fully compliant with any Laws relating to seismic performance standards (“Seismic Compliance”), to purchase the Fee Estate from Landlord at a purchase price equal to the Market Value for the Fee Estate (the “Purchase Option Price”), provided that the Purchase Option Price exceeds the indebtedness then outstanding under the Bonds, on the following terms and conditions:
Tenant’s Purchase Option. Tenant shall have the option to purchase the Premises from Landlord. If the option is exercised on or after the 1st anniversary of the Commencement Date, the purchase price shall be equal to $405,039.00; if exercised on or after the 2nd anniversary of the Commencement Date, the purchase price shall be equal to $358,913.00; if exercised on or after the 3rd anniversary of the Commencement Date, the purchase price shall be equal to $309,905.00; if exercised on or after the 4th anniversary of the Commencement Date, the purchase price shall be equal to $256,573.00; if exercised on or after the 5th anniversary of the Commencement Date, the purchase price shall be equal to $200,357.00; and if exercised on the 6th anniversary of the Commencement Date, the purchase price shall be equal to $138,376.00. Tenant may exercise its option to purchase the Premises only by delivering to Landlord a written notice of its intention to exercise the option ("Tenant Exercise Notice") at least 60 days prior to the closing date desired by Tenant. The Tenant Exercise Notice must be accompanied by an updated Title Report and Survey, together with written notice of any title objection disclosed thereby or otherwise known to Tenant and which Tenant believes it is not required to take title "subject to." If Tenant exercises its option hereunder, Landlord shall deliver insurable title, subject only to the exceptions as set forth in the Survey and Title Report, not including any exceptions which Landlord agrees to discharge as set forth in section 2.2 hereof. Landlord shall take no action after the date hereof which would create any encumbrance or title question. Notwithstanding Tenant's exercise of its option hereunder, this lease shall remain in full force and effect until the closing of title. Tenant may not exercise this option if, either at the time of the Tenant Exercise Notice or at the time of closing of title, there exists any Event of Default or any event which would become an Event of Default after the giving of notice and/or the lapse of time. The closing of title shall terminate this lease and the date thereof shall be deemed the Termination Date. TIME IS OF THE ESSENCE WITH RESPECT TO THE GIVING OF THE TENANT EXERCISE NOTICE HEREUNDER STRICTLY IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 9.6. If this lease shall terminate for any reason prior to Tenant's exercise of its option to purchase hereunder, the Tenant's option shall also terminate.
Tenant’s Purchase Option. In consideration of the Tenant having entered into the Purchase Agreement and this Lease and for other good and valuable consideration (the receipt and sufficiency of which are hereby irrevocably acknowledged), TEI or at TEI’s election any wholly owned subsidiary of TEI, (excluding Xxxxxx 2004 unless and until McCain Foods Limited is no longer a shareholder of Xxxxxx 2004), that agrees in writing in favour of the Landlord to be bound by the provisions of this Article 14 (the “Purchaser”), shall have the option, to be exercised by written notice in accordance with the provisions of this Section 14.1, to purchase all of the Properties at any time prior to the Expiration Date in accordance with the terms and conditions set out in this Article 14. In order for the Purchaser to exercise its option to purchase the Properties, the Purchaser shall provide notice (the “Purchase Notice”) to the Landlord not less than five (5) days prior to the Expiration Date (the “Option Period”) advising the Landlord of the Purchaser’s desire to purchase the Properties. In the event that the Purchaser delivers a Purchase Notice during the Option Period, such notice shall constitute a binding agreement of purchase and sale with respect to the Properties between the parties (the “Sale Agreement”) to be completed on the terms and conditions set out in this Article 14. In the event that the Purchaser fails to provide to the Landlord a Purchase Notice within the Option Period, the Purchaser’s option to purchase the Properties pursuant to this Section 14.1 shall be of no further force or effect.
Tenant’s Purchase Option. 27.1 Tenant shall have the one (1) time option (the "PURCHASE OPTION") to purchase the Premises upon six (6) months prior written notice during the period commencing on the first day of the twelfth (12th) Lease Year and continuing through the expiration of the ninth (9th) full calendar month of the thirteenth (13th) Lease Year (the "PURCHASE OPTION WINDOW"). Tenant shall notify Landlord (the "PURCHASE OPTION NOTICE") in writing, of its exercise of the Purchase Option not earlier than the commencement of the seventh (7th) full calendar month of the eleventh (11th) Lease Year and not later than the expiration of the third (3rd) full calendar month of the thirteenth (13th)
Tenant’s Purchase Option. For and in consideration of the terms, covenants and conditions of this Lease (the sufficiency of which is hereby acknowledged), Landlord hereby grants to Tenant the option (the “Purchase Option”) to purchase the Option Property (defined below) during the Purchase Option Term (defined below) subject to the terms and conditions of this Section 39. In the event that Tenant exercises the Purchase Option, then Tenant shall have the exclusive right to purchase the Option Property pursuant to the terms and conditions of this Section 39 and Landlord shall sell to Tenant and Tenant shall purchase from Landlord the Option Property on the terms and conditions of this Section 39.
Tenant’s Purchase Option. In addition to the right of first refusal set forth in Section 15.2 above, Tenant shall have the option (the “Tenant Purchase Option”) to purchase the Premises from Landlord, by providing notice at any time after the eighteenth (18th) anniversary of the Rent Commencement Date of this Lease (the “Purchase Period”), subject to the following terms and conditions:
Tenant’s Purchase Option. In consideration of Tenant entering into this Lease, Landlord hereby grants Tenant the right to purchase fee simple title to the Leased Premises at any time during the initial or any extended term of this Lease for a total aggregate price of $________ (the "Stated Price') or the appraised price provided below; provided Tenant is not in default under this Lease at the time it exercises said option. In the event Tenant desires to so execute this option to purchase the Leased Premises, it shall so notify Landlord of its intent to so purchase. The notice to Landlord shall state whether or not Tenant is willing to purchase the Leased Premises at the Stated Price. If Tenant is not willing to purchase the Leased Premises at the Stated Price, Tenant shall set forth in the notice the price it is willing to pay (the "Suggested Price") for the Leased Premises. If Tenant and Landlord are willing to purchase and sell the Leased Premises at the Stated Price or the Suggested Price, the sale of the Leased Premises shall be completed as set forth in Section 14.03. if Landlord does not agree to sell the Leased Premises for the Stated Price or the Suggested Price, Landlord shall give Tenant notice of such refusal. Tenant shall then have the Leased Premises appraised ("Tenant's Appraisal") and deliver the written appraisal to Landlord. If Landlord is not willing to sell the Leased Premises at the value shown in Tenant's Appraisal, Landlord shall have the Leased Premises appraised ("Landlord's Appraisal"). If the value of the Leased Premises shown in Landlord's Appraisal is within five percent (5.0%) of the value shown in Tenant's Appraisal, the purchase price of the Leased Premises shall be equal to the average of the two (2) appraisals. If there is more than five percent (5.0%) variance between the two (2) appraisals, then the two (2) appraisers
Tenant’s Purchase Option. Tenant shall have the option (the “Purchase Option”), at any time after the third (3rd) anniversary of the Commencement Date, to purchase any one or more of the parcels of improved real property identified on Exhibit E (the “Purchase Option Parcels”) from Landlord at a purchase price equal to the Market Value for the Purchase Option Parcels designated by Tenant (the “Designated Purchase Option Parcels”) and the Existing FF&E, to the extent then present at the Premises (collectively, the “Purchase Option Price”) on the terms and conditions in subsections 15.5.1 thru 15.5.9. Tenant’s Purchase Option rights with respect to unimproved land parcels identified in Exhibit E shall be conditioned upon and subject to Landlord’s compliance with the requirements of Law with respect to its disposition of Surplus Real Property.
Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are hereby acknowledged, Landlord does hereby give and grant to Tenant the option for Tenant to purchase the Leased Premises (the “Purchase Option”). The purchase price for the Leased Premises under the Purchase Option (the “Purchase Price”) shall be: Check the Applicable Box: □ The sum of $ □ MAI appraised value on the date of option exercise □ Calculated as follows: □ To be determined subsequently, by mutual agreement of Landlord and Tenant. If the parties are not able to reach mutual agreement during the Exercise Period as to the Purchase Price, then the Purchase Option shall terminate and be of no further force or effect.
