Common use of Lessor's Option to Purchase Clause in Contracts

Lessor's Option to Purchase. the Tenant's Personal Property. ---------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expiration, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of the Leased Properties prior to the expiration of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Property, Lessor or its designee shall have the option to purchase all (but not less than all) of Tenant's Personal Property located at the Leased Property(ies) in question, if any, at any expiration or termination of the Term, for a purchase price equal to the unamortized portion of the original cost based upon the economic useful life, as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonably), subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) and other encumbrances to which such Personal Property is subject. Promptly following demand by Lessor (but in any event within thirty (30) days following such demand), Tenant shall deliver to Lessor a computation and statement, in form, content and detail reasonably satisfactory to Lessor, of the purchase price described above as of the date of such expiration, termination or dispossession, as the case may be, for all of Tenant's Personal Property located at the Leased Property(ies) in question.

Lessor's Option to Purchase. the Tenant's Personal Property. ---------------------------------------------------------- ----------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expiration, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of the Leased Properties prior to the expiration of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Property, Lessor or its designee shall have the option to purchase all (but not less than all) of Tenant's Personal Property located at the Leased Property(ies) in question, if any, at any expiration or termination of the Term, for a purchase price equal to the unamortized portion of the original cost based upon the economic useful life, as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonably), subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) and other encumbrances to which such Personal Property is subject. Promptly following demand by Lessor (but in any event within thirty (30) days following such demand), Tenant shall deliver to Lessor a computation and statement, in form, content and detail reasonably satisfactory to Lessor, of the purchase price described above as of the date of such expiration, termination or dispossession, as the case may be, for all of Tenant's Personal Property located at the Leased Property(ies) in question.

Lessor's Option to Purchase. the Tenant's Personal Property34.1 LESSOR'S OPTION TO PURCHASE LESSEE'S PERSONAL PROPERTY. ---------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expiration, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of Unless Lessee purchases the Leased Properties prior to as provided in this Lease, upon the expiration or termination of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Propertythis Lease, Lessor or its designee shall have the option on the terms hereinafter set forth to purchase all (but not less than all) any of TenantLessee's Personal Property located at the Leased Property(ies) in questionthat is not deemed to have been sold, if anyassigned, at any expiration or termination of the Termtransferred and conveyed to Lessor pursuant to Section 6.3 hereof, for a purchase price an amount equal to the unamortized portion then book value thereof (acquisition cost less accumulated depreciation on the books of the original cost based upon the economic useful life, as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonablyLessee pertaining thereto), subject to, and with appropriate price adjustments credits for, any obligations owing from Lessee to Lessor and for the then outstanding balances owing on all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) contracts and any other encumbrances Encumbrances to which such Lessee's Personal Property is subject. Promptly following demand Lessor's option shall be exercised by Notice to Lessee no more than one hundred eighty (180) days, nor less than ninety (90) days, before the expiration of the Realty Term, unless this Lease is terminated prior to its expiration date by reason of an Event of Default, in which event Lessor's option shall be exercised not more than ninety (90) days after the date of termination. Lessor's option shall terminate upon Lessee's purchase of the Leased Properties. If Lessee does not receive Lessor's Notice exercising its option before the expiration of the relevant time period, Lessee shall give Lessor (but Notice thereof and Lessor's option shall continue in any event within full force and effect for a period of thirty (30) days following after such demand)Notice from Lessee. If Lessor exercises its option, Tenant shall deliver to Lessor a computation and statementLessee shall, in form57 exchange for Lessor's payment of the purchase price, content and detail reasonably satisfactory deliver the purchased Lessee's Personal Property to Lessor, together with a bill of sale and such other documents as Lessor may reasonably requexx xn order to carry out the purchase, and the purchase price described above as of shall be closed by such delivery and such payment on the date set by Lessor in its Notice of such expirationexercise. Lessor shall be responsible for applicable sales, termination or dispossession, as use and other similar taxes which are assessed on the case may be, for all sale of TenantLessee's Personal Property located at the Leased Property(ies) in questionto Lessor.

Lessor's Option to Purchase. the TenantLessee's Personal PropertyProperty ------------------------------------------------------------ . ---------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expirationnotice, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of the Leased Properties prior to the its expiration of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Propertydate, Lessor or its designee shall have the option to purchase some or all (but not less than all) of TenantLessee's Personal Property located Property, at the Leased Property(ies) in question, if any, at any expiration or termination of the Termthis Lease, for a purchase price an amount equal to the unamortized portion of the original cost based upon the economic useful life, then net book value thereof as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonably)shown on Lessee's books, subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) and other encumbrances to which such Personal Property personal property is subject. Promptly following demand ARTICLE XXXVI. --------------- 36.1 Lessor May Xxxxx Xxxxx ------------------------- . Without the consent of Lessee, Lessor may, from time to time, directly or indirectly, create or otherwise cause to exist any lien, encumbrance or title retention agreement upon the Leased Property, or any portion thereof or interest therein, whether to secure any borrowing or other means of financing or refinancing. This Lease is and at all times shall be subject and subordinate to any ground or underlying leases, mortgages, trust deeds or like encumbrances (collectively, "Priority Encumbrances"), which may now or hereafter affect the Leased Property and to all renewals, modifications, consolidations, replacements and extensions of any such lease, mortgage, trust deed or like encumbrance; provided, however, that the subjection and subordination of this Lease and -------------- Lessee's leasehold interest hereunder to any Priority Encumbrance shall be - conditioned upon the execution by Lessor the holder of each Priority Encumbrance and - delivery to Lessee of a nondisturbance and attornment agreement which provides that so long as no default has occurred and is continuing beyond the period of time allowed for the remedy thereof under the terms of this Lease, the holder of such Priority Encumbrance (but i) shall not disturb either Lessee's leasehold interest or possession of the Leased Property in accordance with the terms hereof, or any of its rights, privileges and options, (ii) shall permit application of all proceeds of insurance and all Awards and payments in connection with the taking of all or any portion of the Leased Property in accordance with the provisions of Articles XIV and XV of this Lease, (iii) waives all Priority Encumbrance rights or interests in any event within thirty of Lessee's Personal Property, and (30iv) days following shall execute a release of such demand)rights, Tenant shall deliver to Lessor a computation privileges, options and statement, all liens and claims that the holder of such Priority Encumbrance may have in form, content and detail reasonably satisfactory to Lessor, the Leased Property upon payment of the purchase price therefor in the event Lessee exercises any of its options or rights to purchase the Leased Property provided in this Lease. In connection with the foregoing and at the request of Xxxxxx, Lessee shall promptly execute a reasonable subordination, nondisturbance and attornment agreement which will incorporate the terms set forth in the preceding sentence. Except for the documents described above as in the preceding sentences, this clause shall be self-operative and no further instrument of subordination shall be required by any ground or underlying lessor or by any mortgagee or beneficiary, affecting any lease or the date Leased Property. In confirmation of such expirationsubordination, termination or dispossession, as the case Lessee shall execute promptly any certificate that Lessor may be, request for all of Tenant's Personal Property located at the Leased Property(ies) in question.such purposes. 36.2

Lessor's Option to Purchase. the Tenant's Personal Property34.1 LESSOR'S OPTION TO PURCHASE LESSEE'S PERSONAL PROPERTY. ---------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expiration, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of Unless Lessee purchases the Leased Properties prior to as provided in this Lease, upon the expiration or termination of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Propertythis Lease, Lessor or its designee shall have the option on the terms hereinafter set forth to purchase all (but not less than all) any of TenantLessee's Personal Property located at the Leased Property(ies) in questionthat is not deemed to have been sold, if anyassigned, at any expiration or termination of the Termtransferred and conveyed to Lessor pursuant to Section 6.3 hereof, for a purchase price an amount equal to the unamortized portion then book value thereof (acquisition cost less accumulated depreciation on the books of the original cost based upon the economic useful life, as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonablyLessee pertaining thereto), subject to, and with appropriate price adjustments credits for, any obligations owing from Lessee to Lessor and for the then outstanding balances owing on all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) contracts and any other encumbrances Encumbrances to which such Lessee's Personal Property is subject. Promptly following demand Lessor's option shall be exercised by Notice to Lessee no more than one hundred eighty (180) days, nor less than ninety (90) days, before the expiration of the Realty Term, unless this Lease is terminated prior to its expiration date by reason of an Event of Default, in which event Lessor's option shall be exercised not more than ninety (90) days after the date of termination. Lessor's option shall terminate upon Lessee's purchase of the Leased Properties. If Lessee does not receive Lessor's Notice exercising its option before the expiration of the relevant time period, Lessee shall give Lessor (but Notice thereof and Lessor's option shall continue in any event within full force and effect for a period of thirty (30) days following after such demand)Notice from Lessee. If Lessor exercises its option, Tenant shall deliver to Lessor a computation and statementLessee shall, in formexchange for Lessor's payment of the purchase price, content and detail reasonably satisfactory deliver the purchased Lessee's Personal Property to Lessor, together with a xxxx of sale and such other documents as Lessor may reasonably request in order to carry out the purchase, and the purchase price described above as of shall be closed by such delivery and such payment on the date set by Lessor in its Notice of such expirationexercise. Lessor shall be responsible for applicable sales, termination or dispossession, as use and other similar taxes which are assessed on the case may be, for all sale of TenantLessee's Personal Property located at the Leased Property(ies) in questionto Lessor.

Lessor's Option to Purchase. the Tenant's Personal Property. ---------------------------------------------------------- Effective on not less than ninety (90) days prior written notice given at any time within one hundred eighty (180) days prior to the expiration of the Term, but not later than ninety (90) days prior to such expiration, or such shorter notice as shall be appropriate if this Lease is terminated in whole or in part or Tenant is dispossessed of any of the Leased Properties prior to the expiration of the Term, subject to the rights of any Leasehold Mortgagee in respect of Tenant's Personal Property, Lessor or its designee shall have the option to purchase all (but not less than all) of Tenant's Personal Property located at the Leased Property(ies) in question, if any, at any expiration or termination of the Term, for a purchase price equal to the unamortized portion of the original cost based upon the economic useful life, as defined by the American Hospital Guide (or, if such guide ceases to be published by the American Hospital Association, a substitute guide or other economic useful life reference book mutually agreed upon by Lessor and Tenant, each acting reasonably), subject to, and with appropriate price adjustments for, all equipment leases, conditional sale contracts, UCC-1 financing statements (including those financing statements filed in connection with the Leasehold Mortgages) and other encumbrances to which such Personal Property is subject. Promptly following demand by Lessor (but in any event within thirty (30) days following such demand), Tenant shall deliver to Lessor a computation and statement, in form, content and detail reasonably satisfactory to Lessor, of the purchase price described above as of the date of such expiration, termination or dispossession, as the case may be, for all of Tenant's Personal Property located at the Leased Property(ies) in question.. 115