Conveyance on Exercise of Option to Purchase. At the closing of any purchase of the Agency’s interest in the Facility pursuant to Section 8.1 hereof, the Agency will, upon payment of the purchase price, deliver or cause to be delivered to the Lessee (i) a bargain and sale deed without covenants against grantor’s acts and all other necessary documents releases, discharges, satisfactions or similar documents necessary to convey to the Lessee all of the Agency’s right, title and interest in and to the Facility and terminating this Agreement and terminate all liens or rights of the Agency in the Facility; and (ii) all necessary documents releasing and conveying to the Lessee all of the Agency’s rights and interests in and to any rights of action (other than as against the Lessee or any insurer of the insurance policies under Section 4.5(a)(iii) hereof), or any insurance proceeds (other than liability insurance proceeds for the benefit of the Agency) or condemnation awards, with respect to the Facility or any portion thereof. Upon conveyance of the Agency’s interest in the Facility pursuant to this Section 8.2, this Agreement and all obligations of the Lessee hereunder shall be terminated except the obligations of the Lessee under Sections 4.3 (until such time as the Lessee shall again pay taxes as the record owner of the Facility Realty), 6.2, 8.5, 9.13 and 9.15 hereof shall survive such termination.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase pursuant to the exercise of the option to purchase granted herein, the Authority shall, upon payment of the purchase price by the Company, deliver to the Company a limited warranty deed conveying to the Company good title to the Project, as the Project then exists, subject to the following: (i) Permitted Encumbrances, but excluding this Lease, the Note Security Deed and the Bond Security Deed, (ii) those liens and encumbrances (other than the Financing Documents) created by the Company or to the creation or suffering of which the Company consented, and (iii) those liens and encumbrances resulting from the failure of the Company to perform or observe any of the agreements on its part contained in this Lease.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase pursuant to the exercise of any option to purchase granted herein, the Lessor shall upon receipt of the purchase price deliver to the Lessee documents conveying to the Lessee good and marketable title (of the same quality as received by the Lessor) to the property being purchased, as such property then exists, subject to the following: (i) those liens and encumbrances (if any) to which title to said property was subject immediately following the execution and delivery of the Bonds but excluding the Lessor Contracts, (ii) those liens and encumbrances created by the Lessee or to the creation or suffering of which the Lessee consented, and (iii) those liens and encumbrances resulting from the failure of the Lessee to perform or observe any of the agreements on its part contained in this Lease.
Conveyance on Exercise of Option to Purchase. Upon exercise by the Lessee of its option under Section 9.3 hereof and upon payment of all amounts payable by the Lessee in connection therewith, the Lessor will deliver, or cause to be delivered, to the Lessee such quitclaim deeds, bills of sale, instruments and other documents conveying to the Lessee all of the Lessor's interests in the Project, as the Project then exists, subject to
Conveyance on Exercise of Option to Purchase. At the closing of any purchase of the Agency’s leasehold interest in the Facility pursuant to Section 8.1 hereof, the Agency will, upon payment of the purchase price, deliver or cause to be delivered to the Company (i) a termination of leases in recordable form and all other necessary documents, releases, discharges, satisfactions or similar documents necessary to convey to the Company all of the Agency’s right, title and interest in and to the Facility and terminating this Agreement and terminate all liens or rights of the Agency in the Facility; and (ii) all necessary documents releasing and conveying to the Company all of the Agency’s rights and interests in and to any rights of action (other than as against the Company or any insurer of the insurance policies under Section 4.5(a)(iii) hereof), or any insurance proceeds (other than liability insurance proceeds for the benefit of the Agency) or condemnation awards, with respect to the Facility or any portion thereof. Upon conveyance of the Agency’s leasehold interest in the Facility pursuant to this Section 8.2, this Agreement and all obligations of the Company hereunder shall be terminated except the obligations of the Company under Sections 4.3 (until such time as the Company shall pay taxes as the record owner of the Land or the Facility), 6.2, 9.13 and 9.15 hereof shall survive such termination.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase of the Premises pursuant to Paragraph 19.1 hereof, the Landlord will, upon payment of the purchase price, deliver a special warranty deed conveying to the Tenant good and marketable title to the property being purchased, as such property then exists, including the rights, alleys, ways, waters, privileges, appurtenances and advantages to the same belonging or appertaining, subject to the following: (i) any liens, easements and encumbrances to which title to said property was subject when acquired by the Landlord; (ii) any liens, easements and encumbrances created at the request of the Tenant or to the creation of suffering of which the Tenant consented in writing; (iii) any liens and encumbrances resulting from the failure of the Tenant to perform or observe any of the agreements on its part contained in this Lease; (iv) any liens for taxes or assessments, if any.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase of the Facility pursuant to Section 8.1 hereof, the Agency will, upon receipt of payment of the Purchase Price, request the Bank to deliver to the Lessee (i) a release, satisfaction or termination of the mortgage lien and security interest of the Mortgage on the Facility and (ii) shall deliver or cause to be delivered other documents (including, without limitation, all documents necessary to pass title in recordable form) conveying to the Lessee by bargain and sale deed, good and marketable title in fee simple to the Facility Realty, as all such property then exists, and all rights, alleys, ways, waters, privileges, appurtenances and advantages to the same belonging or anyway appertaining, subject to the following: (1) the nature, quality and extent to which title to said property shall have been vested in the Agency; (2) any Permitted Encumbrances to which title to said property was subject when conveyed to the Agency; (3) any liens, easements, security interests, claims, charges and encumbrances created at the request of the Lessee or to the creation or suffering of which the Lessee consented; (4) any liens, security interests, claims, charges and encumbrances resulting from the failure of the Lessee to perform or observe any of the agreements on its part contained in this Agreement; (5) any liens for taxes or assessments not then delinquent; (6) the rights, if any, of any condemning authority; and (ii) documents releasing and conveying to the Lessee all of the Agency's rights and interests in and to any rights of action, or any insurance proceeds or condemnation award, with respect to the Facility. Concurrently with the delivery of such title documents, there shall be delivered by the Agency to the Trustee any instructions or other instruments required by Section 10.01 of the Indenture to defease and pay the Bonds. Upon conveyance of the Facility pursuant to this Section 8.2, this Agreement and all obligations of the Lessee hereunder shall be terminated except the obligations of the Lessee under Sections 3.1, 4.3 (until such time as the Lessee shall again pay taxes as the record owner of the Facility Realty), 6.2, 8.5 and 9.16 and any other section hereof which, by its express terms, states it shall survive the termination of this Agreement, shall survive such termination.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase pursuant to the exercise of the option to purchase granted herein, the Issuer shall, upon receipt of the purchase price, deliver to the Company a limited warranty deed and a quit claim xxxx of sale conveying to the Company all of its right title and interest to the property being purchased, as such property then exists.
Conveyance on Exercise of Option to Purchase. At the closing of the purchase pursuant to the exercise of any option to purchase granted herein, the Issuer will upon receipt of the purchase price deliver to the Corporation documents conveying to the Corporation the property with respect to which such option was exercised, as such property then exists, subject to the following: (1) those liens and encumbrances, if any, to which title to said property was subject when conveyed to the Issuer; (2) those liens and encumbrances created by the Corporation or to the creation or suffering of which the Corporation consented; and (3) those liens and encumbrances resulting from the failure of the Corporation to perform or observe any of the agreements on its part contained in this Lease Agreement.
Conveyance on Exercise of Option to Purchase. At the closing of any purchase pursuant to the exercise of the option to purchase granted herein, the Issuer shall upon receipt of the purchase price, deliver to the Company, or the holder of the Superior Security Document, as applicable, a limited warranty deed and a xxxx of sale conveying to the Company good title (of the same quality as received by the Issuer) to the property being purchased, as such property then exists, subject to the following: (i) those liens and encumbrances (if any) to which title to said property was subject immediately following the delivery of the Bond but excluding this Lease, the Security Document and the Bond Resolution, (ii) those liens and encumbrances created by the Company or to the creation or suffering of which the Company consented, (iii) those liens and encumbrances resulting from the failure of the Company to perform or observe any of the agreements on its part contained in this Lease and (iv) other Permitted Encumbrances.
