Common use of Conveyance on Exercise of Option to Purchase Clause in Contracts

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 the option to purchase granted herein, the Authority Issuer 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 Lease and the Bond Security Deed, ; (ii) those liens and encumbrances (other than the Financing Issuer 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 the purchase pursuant to the exercise of the any option to purchase granted herein, the Authority shall, Issuer will upon payment receipt of the purchase price by the Company, deliver to the Company a limited warranty deed documents conveying to the Company good title or its designee the property with respect to the Projectwhich such option was exercised, as the Project such property then exists, subject only to the following: (ia) Permitted Encumbrancesthose liens and encumbrances, but excluding this Leaseif any, to which title to the Note Security Deed and property was subject when conveyed to the Bond Security Deed, Issuer; (iib) 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 (iiic) 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 LeaseLease Agreement.

Conveyance on Exercise of Option to Purchase. At the closing of any the purchase pursuant to the exercise of the any option to purchase granted herein, ; the Authority shall, IDB will upon payment receipt of the purchase price by the Company, deliver to the Company a limited warranty deed documents conveying to the Company good title or its designee the property with respect to the Projectwhich such option was exercised, as the Project such property then exists, subject only to the following: (ia) Permitted Encumbrancesthose liens and encumbrances, but excluding this Leaseif any, to which title to the Note Security Deed and property was subject when conveyed to the Bond Security Deed, IDB; (iib) 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 (iiic) 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 LeaseLease Agreement.