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 COST CUTTERS 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 COST CUTTERS' material operating and quality standards and procedures; (C) all monetary obligations owed by the FRANCHISEE to COST CUTTERS 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 Cost Cutters Business so that the FRANCHISEE'S Business will reflect the image portrayed by COST CUTTERS' 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 COST CUTTERS 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 Parent to purchase the Shares at the Closing is subject to the following conditions:
(a) all waiting periods under the Hart-Xxxxx-Xxxxxx Xxxitrust Improvements Act of 1976 and the rules and regulations promulgated thereunder (the "HSR Act") applicable to such purchase shall have expired or been terminated; and
(b) there shall be no preliminary or permanent injunction or other order, decree or ruling issued by any Governmental Body, nor any statute, rule, regulation or order promulgated or enacted by any Governmental Body prohibiting, or otherwise restraining, such purchase.
Conditions to Option. The obligation of Merger Subsidiary to purchase the Shares at the Closing is subject to the following conditions:
(a) all waiting periods under the Xxxx-Xxxxx-Xxxxxx Antitrust Improvements Act of 1976 and the rules and regulations promulgated thereunder (the "HSR ACT") applicable to such purchase shall have expired or been terminated; and
(b) there shall be no preliminary or permanent injunction or other order, decree or ruling issued by any Governmental Authority, nor any statute, rule, regulation or order promulgated or enacted by any Governmental Authority prohibiting, or otherwise restraining, such purchase.
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 Operating 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 Operating 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 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").
Conditions to Option. On the conditions (which conditions Landlord may waive, at its sole option, by notice to Tenant at any time) that (i) at the time of exercise of the Purchase Option and on the Option Closing Date (defined below), there then exists no uncured Event of Default regarding the payment of money, and Landlord has not given notice of any fact or circumstance that remains uncured which if not cured during the appropriate grace period would constitute an Event of Default; and (ii) Tenant strictly complies with the provisions of this Section 24.11. then Tenant shall have the right to exercise the Purchase Option.
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. 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:
4.2.1 Manager shall have the right to purchase the Facility separate and apart from any purchase of the Meditrust Facilities (the "Laurel Option").
4.2.2 The Facility may be partially released from the lien of the Senior Loan if the holder of the Senior Loan consents to such release. Manager and Owner understand that JPH shall not have the right to assume the Senior Loan or any part thereof.
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").
