Common use of Early and End of Term Purchase Options Clause in Contracts

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) (i) any Business Day during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); provided that Lessee has not elected the Sale Option, or (b) any Business Day after the occurrence of an Event of Default (other than an Insolvency Event), Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon the occurrence of an Event of Default arising as a result of an Insolvency Event. After the occurrence and during the continuance of any other Event of Default, unless the Leased Property has been sold, or is subject to a binding commitment to be sold, in its entirety pursuant to Section 16.2, Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option not more than thirty (30) days after the occurrence of such Event of Default and (ii) pays the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after the date of such Purchase Notice. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as otherwise provided above in connection with an Event of Default, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. (a) Subject to the conditions contained hereinherein and without limitation of Lessee's purchase obligation pursuant to SECTION 18.2, on (a) (i1) any Business Day during Scheduled Payment Date following the second anniversary of the date that the Base Term Commencement Date has commenced with respect to all of the Leased Property and (ii) on the Expiration Date in accordance with Section 19.1(b); provided that Lessee has not elected the Sale Option, Option or (b2) any Business Day after the occurrence and during the continuance of an a Lease Event of Default of the types described in CLAUSE (other than an Insolvency Event)ii) of the next sentence, Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, all of the Leased Property (the “Early Termination Option”"EARLY TERMINATION OPTION") at a price equal to the Purchase Amount. Lessee’s 's right to purchase all of the Leased Property pursuant to this Section SECTION 18.1 shall terminate automatically and without notice upon (i) the occurrence of an a Lease Event of Default arising as a result of an Insolvency Event. After , or (ii) upon the occurrence and during the continuance of any other Lease Event of Default, unless in the Leased Property has been sold, or is subject to case of a binding commitment to be sold, Lease Event of Default described in its entirety pursuant to Section 16.2, this CLAUSE (ii) Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing notice of its election to exercise this option to purchase not less than three (3) Business Days prior to the Early Termination Option not more than thirty date of the purchase and consummates the purchase within fifteen (3015) days after Business Days following the occurrence of such Event of Default and (ii) pays the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after the date of such Purchase NoticeDefault. In order to exercise its option to purchase the Leased Property pursuant to this Section SECTION 18.1 and except as otherwise provided above for in connection with an Event CLAUSE (ii) of Defaultthe foregoing sentence, Lessee shall give to Lessor not less than thirty ten (3010) days’ ' prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, SECTION 18.1 then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Lessor’s) Xxxxxx's receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s 's right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section SECTION 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) any (i) any Business Day Payment Date during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); , provided that Lessee has not elected the Sale Option, Option or (b) on any Business Day after during the occurrence of an Event of Default of the types described in clause (other than an Insolvency Event)ii) of the next sentence, Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an Event of Default arising as a result of an Insolvency Event. After Event of the Guarantor or Lessee, or (ii) upon the occurrence and during the continuance of any other Event of Default, unless in the Leased Property has been sold, or is subject to a binding commitment to be sold, case of an Event of Default described in its entirety pursuant to Section 16.2, this clause (ii) Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option to purchase not more less than thirty three (303) days after prior to the occurrence date of such Event of Default the purchase and (ii) pays consummates the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after following the date earlier of (x) delivery of a notice of an Event of Default by Lessee or Guarantor pursuant to Section 9.1(a)(i) of the Participation Agreement or Section 8(a)(iv) of the Guaranty, or (y) Lessee’s receipt of a written Purchase Acceleration Notice (such period, the “Purchase Option Period”). Unless an Insolvency Event occurs with respect to Guarantor or Lessee, Lessor shall not terminate this Lease during the Purchase Option Period. “Purchase Acceleration Notice” shall mean a notice from Lessor or the Administrative Agent to Lessee that an Event of Default has occurred. Lessee acknowledges that the Purchase Acceleration Notice shall apply solely to this Section 18.1 and will not affect the validity of any Event of Default or Lessor’s remedies at Section 16.2. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as otherwise provided above for in connection with an Event the clause (ii) of Defaultthe second sentence of this Section 18.1, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, 18.1 then, upon the Administrative Agent’s (or if the Loans Rent Assignment Interests are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.. ARTICLE XIX

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) (ia)(i) any Business Day Payment Date during the Term occurring after the second anniversary of the Base Term Commencement Date and (ii) on the Expiration Date in accordance with Section 19.1(b); , provided that Lessee has not elected the Sale Option, Option or (b) on any Business Day after during the occurrence of an Event of Default of the types described in clause (other than an Insolvency Eventii) of the next sentence (but subject to the consent of Lessor, not to be unreasonably withheld, conditioned or delayed, prior to the second anniversary of the Base Term Commencement Date), Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an Event of Default arising as a result of an Insolvency Event. After , or (ii) upon the occurrence and during the continuance of any other Event of Default, unless in the Leased Property has been sold, or is subject to a binding commitment to be sold, case of an Event of Default described in its entirety pursuant to Section 16.2this clause (ii), Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i1) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option to purchase the Leased Property, such Purchase Notice to be sent not more than thirty ten (3010) days after Business Days following the occurrence earlier of such (x) delivery of a notice of an Event of Default by Guarantor pursuant to Section 8(i)(iii) of the Guaranty, or (y) Lessee’s receipt of a written Purchase Acceleration Notice, and (ii2) pays consummates the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after following the date of such Purchase Notice. “Purchase Acceleration Notice” shall mean a written notice from Lessor or the Administrative Agent to Lessee that an Event of Default has occurred. Lessee acknowledges that the Purchase Acceleration Notice shall apply solely to this Section 18.1 and will not affect the Table of Content validity of any Event of Default or Xxxxxx’s remedies under Section 16.2. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as otherwise provided above for in connection with an Event the clause (ii) of Defaultthe second sentence of this Section 18.1, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, 18.1 then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee or its designee all of Lessor’s right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor Xxxxxx agrees that it shall cooperate with the Lessee Xxxxxx in effecting any transfer to Lessee or a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) any (i) any Business Day Payment Date during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); , provided that Lessee has not elected the Sale Option, Option or (b) on any Business Day after during the occurrence of an Event of Default of the types described in clause (other than an Insolvency Event)ii) of the next sentence, Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an Event of Default arising as a result of an Insolvency Event. After Event of the Guarantor or Lessee, or (ii) upon the occurrence and during the continuance of any other Event of Default, unless in the Leased Property has been sold, or is subject to a binding commitment to be sold, case of an Event of Default described in its entirety pursuant to Section 16.2, this clause (ii) Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option to purchase not more less than thirty three (303) days after prior to the occurrence date of such Event of Default the purchase and (ii) pays consummates the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after following the date earlier of (x) delivery of a notice of an Event of Default by Lessee or Guarantor pursuant to Section 9.1(a)(i) of the Participation Agreement or Section 8(a)(iv) of the Guaranty, or (y) Lessee’s receipt of a written Purchase Acceleration Notice (such period, the “Purchase Option Period”). Unless an Insolvency Event occurs with respect to Guarantor or Lessee, Lessor shall not terminate this Lease during the Purchase Option Period. “Purchase Acceleration Notice” shall mean a notice from Lessor or the Administrative Agent to Lessee that an Event of Default has occurred. Lessee acknowledges that the Purchase Acceleration Notice shall apply solely to this Section 18.1 and will not affect the validity of any Event of Default or Xxxxxx’s remedies at Section 16.2. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as otherwise provided above for in connection with an Event the clause (ii) of Defaultthe second sentence of this Section 18.1, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, 18.1 then, upon the Administrative Agent’s (or if the Loans Rent Assignment Interests are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor Xxxxxx agrees that it shall cooperate with the Lessee Xxxxxx in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) (i) any Business Day during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); provided that Lessee has not elected the Sale Option, or (b) any Business Day after the occurrence and during the continuance of an Event of Default (other than an Insolvency Event), Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property, other Collateral and Parcel D Ground Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property, other Collateral and Parcel D Ground Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon the occurrence of an Event of Default arising as a result of an Insolvency Event. After the occurrence and during the continuance of any other Event of Default, unless all of the Leased Property, other Collateral and Parcel D Ground Leased Property has been sold, or is subject to a binding commitment to be sold, in its entirety pursuant to Section 16.2, Lessee shall be permitted to purchase the Leased Property, other Collateral and Parcel D Ground Leased Property (or, as applicable, all remaining Leased Property, other Collateral and Parcel D Ground Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option not more than thirty (30) days after the occurrence of such Event of Default and (ii) pays the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after the date of such Purchase NoticeNotice (and, unless an Insolvency Event occurs, Lessor shall not terminate this Lease during such period). In order to exercise its option to purchase the Leased Property, other Collateral and Parcel D Ground Leased Property pursuant to this Section 18.1 and except as otherwise provided above in connection with an Event of Default, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property, other Collateral and Parcel D Ground Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor Lxxxxx agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained hereinherein and without limitation of Lessee's purchase obligation pursuant to Section 18.2, on (a) (i1) any Business Day during the Term Payment Date and (ii) on the Expiration Date in accordance with Section 19.1(b); provided that Lessee has not elected the Sale Option, Option or (b2) on any Business Day after during the occurrence of an a Lease Event of Default of the types described in clause (other than an Insolvency Event)ii) of the next sentence, Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property Premises (the “"Early Termination Option”") at a price equal to the Purchase Amount. Lessee’s 's right to purchase all of the Leased Property Premises pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an a Lease Event of Default arising as a result of an Insolvency Event. After , or (ii) upon the occurrence and during the continuance of any other Lease Event of Default, unless in the Leased Property has been sold, or is subject to case of a binding commitment to be sold, Lease Event of Default described in its entirety pursuant to Section 16.2, this clause (ii) Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing notice of its election to exercise the Early Termination Option this option to purchase not more less than thirty three (303) days after prior to the occurrence date of such Event of Default the purchase and (ii) pays consummates the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after following the date occurrence of such Purchase NoticeLease Event of Default. In order to exercise its option to purchase the Leased Property Premises pursuant to this Section 18.1 and except as otherwise provided above for in connection with an Event the clause (ii) of Defaultthe foregoing sentence, Lessee shall give to Agent Lessor not less than thirty (30) days’ ' prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, 18.1 then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Agent Lessor’s) 's receipt of all amounts due in connection therewith, Agent Lessor shall transfer to the Lessee all of Agent Lessor’s 's right, title and interest in and to the Leased Property Premises in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Noticepurchase notice. Agent Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) (i) any Business Day during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); provided that Lessee has not elected the Sale Option, or (b) any Business Day after the occurrence and during the continuance of an Event of Default (other than an Insolvency Event), Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property, other Collateral and Parcel D Ground Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property, other Collateral and Parcel D Ground Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon the occurrence of an Event of Default arising as a result of an Insolvency Event. After the occurrence and during the continuance of any other Event of Default, unless all of the Leased Property, other Collateral and Parcel D Ground Leased Property has been sold, or is subject to a binding commitment to be sold, in its entirety pursuant to Section 16.2, Lessee shall be permitted to purchase the Leased Property, other Collateral and Parcel D Ground Leased Property (or, as applicable, all remaining Leased Property, other Collateral and Parcel D Ground Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option not more than thirty (30) days after the occurrence of such Event of Default and (ii) pays the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after the date of such Purchase NoticeNotice (and, unless an Insolvency Event occurs, Lessor shall not terminate this Lease during such period). In order to exercise its option to purchase the Leased Property, other Collateral and Parcel D Ground Leased Property pursuant to this Section 18.1 and except as otherwise provided above in connection with an Event of Default, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, then, upon Administrative Agent’s (or if the Loans are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property, other Collateral and Parcel D Ground Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

Early and End of Term Purchase Options. Subject to the conditions contained herein, on (a) any (i) any Business Day Payment Date during the Term and (ii) on the Expiration Date in accordance with Section 19.1(b); , provided that Lessee has not elected the Sale Option, Option or (b) on any Business Day after during the occurrence of an Event of Default of the types described in clause (other than an Insolvency Event)ii) of the next sentence, Lessee may, at its option, purchase (or cause a designee to purchase) all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Purchase Amount. Lessee’s right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an Event of Default arising as a result of an Insolvency Event. After Event of the Guarantor or Lessee, or (ii) upon the occurrence and during the continuance of any other Event of Default, unless in the Leased Property has been sold, or is subject to a binding commitment to be sold, case of an Event of Default described in its entirety pursuant to Section 16.2, this clause (ii) Lessee shall be permitted to purchase the Leased Property (or, as applicable, all remaining Leased Property not yet sold pursuant to Section 16.2(c)), so long as Lessee (i) delivers a written Purchase Notice irrevocably electing to exercise the Early Termination Option to purchase not more less than thirty three (303) days after prior to the occurrence date of such Event of Default the purchase and (ii) pays consummates the Administrative Agent or Lessor the Purchase Amount and executes such documents as are necessary to consummate such purchase within ten (10) Business Days after following the date earlier of (x) delivery of a notice of an Event of Default by Lessee or Guarantor pursuant to Section 9.1(a)(i) of the Participation Agreement or Section 8(a)(iv) of the Guaranty, or (y) Lessee’s receipt of a written Purchase Acceleration Notice (such period, the “Purchase Option Period”). Unless an Insolvency Event occurs with respect to Guarantor or Lessee, Lessor shall not terminate this Lease during the Purchase Option Period. “Purchase Acceleration Notice” shall mean a notice from Lessor or the Administrative Agent to Lessee that an Event of Default has occurred. Lessee acknowledges that the Purchase Acceleration Notice shall apply solely to this Section 18.1 and will not affect the validity of any Event of Default or Lessor’s remedies at Section 16.2. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as otherwise provided above for in connection with an Event the clause (ii) of Defaultthe second sentence of this Section 18.1, Lessee shall give to Lessor not less than thirty (30) days’ prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1, 18.1 then, upon the Administrative Agent’s (or if the Loans Rent Assignment Interests are no longer outstanding, Lessor’s) receipt of all amounts due in connection therewith, Lessor shall transfer to the Lessee all of Lessor’s right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.