Exclusive Option to Purchase Sample Clauses
An Exclusive Option to Purchase clause grants one party the sole right to buy a specified asset or property within a defined period, preventing the seller from negotiating with or selling to other potential buyers during that time. Typically, the buyer must notify the seller of their intent to exercise the option within the agreed timeframe, and the terms of purchase, such as price and conditions, are often pre-established in the agreement. This clause ensures the buyer has a guaranteed opportunity to acquire the asset without competition, providing certainty and time to arrange financing or conduct due diligence.
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Exclusive Option to Purchase. 2.1 WebTrak and the Shareholders do hereby grant to HNC the irrevocable and exclusive option (the "OPTION") to purchase (the "OPTION TRANSACTION") either the Assets from WebTrak or the Shares from the Shareholders, free and clear of all claims, liens, encumbrances and rights of third parties of every kind and nature whatsoever. The purchase price:
(1) for the Assets shall be an amount equal to the greater of: [ * ] in either case subject to adjustments commensurate with a transaction of this nature; or
(2) for the Shares shall be an amount equal to the greater of: [ * ] and in either case subject to adjustments commensurate with a transaction of this nature. [ * ] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 3 - 3 - The decision to purchase either the Assets or the Shares shall be at the sole option and discretion of HNC and HNC shall have no obligation to exercise the Option or to enter into any transaction whatsoever with WebTrak and/or Shareholders. The Option Transaction will be documented by an agreement prepared by HNC and containing the warranties, representations, covenants and agreements of WebTrak and the Shareholders and shall provide similar ancillary documents and agreements all as set forth in the subscription agreement (the "SUBSCRIPTION AGREEMENT") entered into between WebTrak, Picardy International Inc. (et al) and dated 11 January 1999) and shall contain such other terms and conditions as HNC may reasonably require in order to effect the Option Transaction. The Option shall be irrevocable and open for exercise by written notice from HNC to WebTrak (the "PURCHASE OPTION NOTICE") during the period commencing September 30th, 1999 and ending December 31st, 1999. The date on which HNC duly exercises the Purchase Option by giving WebTrak the Purchase Option Notice is herein referred to as the "PURCHASE OPTION NOTICE DATE". The closing of the Option Transaction shall occur on a date as determined by HNC after completion of all necessary documentation and in any event within one hundred twenty (120) days of the Purchase Option Notice Date.
Exclusive Option to Purchase. Tenant shall have the exclusive option to purchase the Property at any time during the Initial or any successive Renewal Term or option term in effect.
Exclusive Option to Purchase. The Developer hereby grants the Commission the exclusive Option to purchase the Property, subject to the terms and conditions set forth herein. The Option must be exercised by Commission, if at all, no later than one year after the trigger events set forth in the Development Agreement (the “Option Period”), which shall occur if:
a. The conditions set forth in Section 3.2 of the Development Agreement that must be satisfied or waived in writing prior to execution of the Notice of Commence cannot be fulfilled and the Developer elects to terminate the Development Agreement as a result, or
b. Developer fails to (1) complete Phase 1 or Phase 2 of the Project by the Mandatory Completion Dates set forth in Section 4.6 of the Development Agreement, or (2) expend the full amount of Private Investment as defined in Section 1.4 of the Development Agreement for the Project by the end of the Mandatory Completion Dates. As a consideration for this Option, the parties acknowledge that the Commission will pay the Funding Amount and construct the Local Public Improvements as set forth in the Development Agreement (the “Option Payment”).
Exclusive Option to Purchase. For a period of one (1) year following the Commencement Date (Option Period) hereunder Tenant shall have the Exclusive Option to purchase the Leased Space being the building and land more particularly described in Exhibit A hereto, as well as the Leased Property referred to herein for the sum of Three Million Dollars 00/100 ($3,000,000.00) certified funds at closing. Tenant may exercise this Option by giving written notice to Landlord of its intent to exercise the Option within the Option Period. Settlement shall be held no later than sixty (60) days following written notice of Tenant/Option Holder's intent to exercise its option to purchase. Landlord shall deliver before the settlement such Deeds and such other good and sufficient instruments of conveyance and transfer, in form and substance reasonably satisfactory to counsel for Tenant, as shall be effective to vest in Tenant all of the Landlord's right, title and interest to the Leased Space and property. Title to the real estate shall be such as will be insurable by a reputable title insurance company in the Commonwealth of Pennsylvania at regular rates. If required, Landlord shall comply with any and all bulk sales laws, statutes and/or ordinances in the Commonwealth of Pennsylvania and shall execute any and all documents and perform all acts required before and after Settlement on the Tenants Exclusive Option to Purchase. Landlord shall not market or offer, directly or indirectly the Leased Space and Property for sale to any other third parties during the Option Period.
Exclusive Option to Purchase. The Commission hereby grants the Company an exclusive option to purchase the Property, subject to the terms and conditions stated in this Option Agreement (the "Option").
Exclusive Option to Purchase. The Developer hereby grants the Commission the exclusive option to purchase the Real Estate, subject to the terms and conditions set forth herein (the "Option"). The Option must be exercised by Commission, if at all, no later than the expiration of the Option Period, which is herein defined as two (2) years from the date hereof (the "Option Period")). As consideration for this Option, the parties acknowledge that the Commission will pay the Funding Amount (the "Option Payment").
Exclusive Option to Purchase