Conditions to Option. On the conditions (which conditions Lessor may waive, at its sole option, by notice to Lessee at any time) that (a) at the time of exercise of the Purchase Option and on the applicable Purchase Option Date, there then exists no Lease Default, nor any state of facts or circumstance which constitutes, or with the passage of time and/or the giving of notice, would constitute a Lease Default and (b) Lessee strictly complies with the provisions of this Section 18.3, then Lessee shall have the option to purchase the Leased Property, at the price and upon the terms hereinafter set forth (the "Purchase Option").
Conditions to Option. At the end of the term of this Agreement, the FRANCHISEE will have the option to reacquire the franchise for the Franchised Location provided that the following conditions have been met: (A) the FRANCHISEE has given CITY LOOKS written notice at least one hundred eighty (180) days prior to the end of the term of this Agreement of its commitment to reacquire the franchise for the Franchised Location; (B) during the term of this Agreement, the FRANCHISEE has complied with all of the material terms and conditions of this Agreement and has complied with CITY LOOKS' material operating and quality standards and procedures; (C) all monetary obligations owed by the FRANCHISEE to CITY LOOKS have been paid or satisfied prior to the end of the term of this Agreement, and have been timely met throughout the term of this Agreement; (D) the FRANCHISEE has agreed, in writing, to make the reasonable capital expenditures necessary to remodel, modernize, upgrade and redecorate the Franchised Location and to replace and update the furniture, fixtures, supplies, equipment and techniques used in the FRANCHISEE'S City Looks business so that the FRANCHISEE'S business will reflect the image portrayed by CITY LOOKS' then-current decor and specifications; (E) the FRANCHISEE agrees to execute and comply with the then-current standard Franchise Agreement then being offered to new Franchisees by CITY LOOKS subject further to the provisions of Article 2.4 of this Agreement; and (F) as of the date the FRANCHISEE exercises its option to reacquire the franchise for the Franchised Location, the FRANCHISEE either owns the Franchised Location or has the right to lease the Franchised Location or a new location as set forth in Article 1.3 for a term of at least three (3) years.
Conditions to Option. The obligation of Purchaser to purchase the Shares at the Closing is subject to the following conditions:
Conditions to Option. The obligation of Merger Subsidiary to purchase the Shares at the Closing is subject to the following conditions:
Conditions to Option. On the conditions precedent (which conditions Owners may waive, in their sole discretion, by notice to Emeritus at any time) that (a) at the time of exercise of the Purchase Option, there then exists no Event of Default under this Agreement, or the XX XX Development Management Agreement by the Managers or Emeritus, and (b) Emeritus timely complies with the provisions of this Section 13, and (c) the Purchase Option under the XX XX Development Management Agreement has been exercised simultaneously by delivery of a Purchase Option Notice (as defined therein) and (d) if a Put Notice has been delivered on account of Section 3.1(d) or 3.1(e) of the Put and Purchase Agreement, less than sixty (60) days has elapsed since delivery of such Put Notice, then Emeritus or its Affiliates shall have the option to purchase all, but not less than all, of the Facilities then subject to this Agreement including, without limitation, any Facilities which are the subject of a segregated Management Agreement pursuant to Section 10.3, at the price and upon the terms hereinafter set forth in this Section 13 (the "Purchase Option").
Conditions to Option. On the conditions (which conditions Landlord may waive, at its sole option, by notice to Tenant at any time) that (a) at the time of exercise of the Purchase Option, there is no Event of Default hereunder, and no fact or circumstance exists which constitutes or with the passage of time, or giving of notice, or both could constitute a default and (b) Tenant strictly complies with the provisions of this SECTION 21, then Tenant shall have the option to purchase the Premises, at the price and upon the terms hereinafter set forth (the "Purchase Option").
Conditions to Option. Manager shall have an option to purchase the ---------------------- Facility on the same terms and conditions as contained in Section 13.1 of the Management Agreement, except that:
Conditions to Option. On the conditions (which conditions Lessor may waive, at its sole option, by notice to Lessee at any time) that (a) at the time of exercise and on the date of Closing, there exists no Event of Default, under this Lease and, Lessee has not received any notice regarding any event or state of facts which, with the passage of time, would constitute an Event of Default if not cured by Lessee, and Lessee has not effected such cure, and (b) Lessee strictly complies with the provisions of this Section, then Lessee shall have the option to purchase (the "Purchase Option"), the Leased Property, at the price and upon the terms hereinafter set forth.
Conditions to Option. The obligation of Parent to purchase the Shares at the Closing is subject to the following conditions:
Conditions to Option. On the conditions (which conditions the Lessor may waive, at its sole option, by notice to the Lessee at any time) that (a) at the time of exercise of the Purchase Option and on the applicable Purchase Option Date, there then exists no Lease Default, nor any state of facts or circumstance which constitutes, or with the passage of time and/or the giving of notice, would constitute a Lease Default and (b) the Lessee strictly complies with the provisions of this Section 18.3, then the Lessee shall have the option to purchase the SNF/CMC Land and all of the improvements located thereon, at the price and upon the terms hereinafter set forth (the "Purchase Option").
