Common use of Acceleration of Purchase Obligation Clause in Contracts

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Properties (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (i) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).

Appears in 2 contracts

Samples: Participation Agreement (Mondavi Robert Corp), Construction Agency Agreement (Mondavi Robert Corp)

AutoNDA by SimpleDocs

Acceleration of Purchase Obligation. (a) The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the Lessor's interest of in the Lessor Trust in all of the Properties Leased Assets (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.122.1) (i) automatically and without notice upon the occurrence of any Lease Event of Default described specified in clause (if) or (g) of Section 16.1. Any purchase under this 20.1 and (ii) as provided for at Section 18.3 shall be in accordance with 20.2(e) immediately upon written demand of the procedures set forth in Section 21.1(a)Lessor upon the occurrence of any other Event of Default.

Appears in 2 contracts

Samples: Master Lease and Security Agreement (Rite Aid Corp), Master Lease and Security Agreement (Rite Aid Corp)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Property Balance all of the interest of the Lessor Trust in all of the Properties Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (iSection 16.1(f) of Section 16.1or 16.1(g). Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a)18.4.

Appears in 1 contract

Samples: Lease (Adobe Systems Inc)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Agent Lessor Trust and the Lessors in all of the Properties Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (il) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).

Appears in 1 contract

Samples: Trust and Security Agreement (Alumax Inc)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Properties Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (ih) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).

Appears in 1 contract

Samples: Sabre Holdings Corp

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Properties (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (i) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).

Appears in 1 contract

Samples: Master Lease And (Lam Research Corp)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Property Balance all of the interest of the Lessor Trust in all of the Properties Property (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (iSection 16.1(f) of Section 16.1or 16.1(g). Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a)19.1.

Appears in 1 contract

Samples: Lease (Adobe Systems Inc)

AutoNDA by SimpleDocs

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Properties (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (i) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).. Article XIX [Intentionally Omitted] Article XX

Appears in 1 contract

Samples: Master Lease (Tandem Health Care, Inc.)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Properties (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Xxx Research Corporation Amended and Restated Master Lease Default described in clause (i) of Section 16.1. Any purchase under this Section 18.3 shall be in accordance with the procedures set forth in Section 21.1(a).

Appears in 1 contract

Samples: Master Lease And (Lam Research Corp)

Acceleration of Purchase Obligation. The Lessee shall be obligated to purchase for an amount equal to the Lease Balance all of the interest of the Lessor Trust in all of the Leased Properties (notwithstanding any prior election to exercise its Purchase Option pursuant to Section 18.1) automatically and without notice upon the occurrence of any Lease Event of Default described in clause (ig) or (h) of Section 16.1. Any purchase under this Section 18.3 18.2 shall be in accordance with the procedures set forth in Section 21.1(a)21.1.

Appears in 1 contract

Samples: Itt Industries Inc

Time is Money Join Law Insider Premium to draft better contracts faster.