Exercise of Option; Deposit. Such Purchase Option shall permit Lessee to purchase the Leased Property (a) on the last day of the Initial Term or (b) on the last day of any Extended Term effectively exercised by Lessee (each of such dates are referred to herein as a "Purchase Option Date") and shall be exercised by notice given by Lessee to Lessor (the "Lessee's Purchase Option Notice") at least one hundred eighty (180) days (but not more than three hundred sixty (360) days) prior to the relevant Purchase Option Date. Notwithstanding anything to the contrary set forth in this Lease, Lessee's right to purchase the Leased Property is subject to the further conditions that (i) concurrently with the exercise of the option set forth under this Section 18.3, the Lessee shall have exercised its right to purchase the premises demised under each of the Related Leases in accordance with the provisions of Section 18.3 of each of the Related Leases, (ii) the conveyance of the Leased Property pursuant to the provisions of this Section 18.3 shall occur simultaneously with the conveyance of the premises demised under each of the Related Leases pursuant to Section 18.3 of each of the Related Leases and (iii) all conditions contained in the Agreement Regarding Related Transactions pertaining to the Purchase Option are satisfied. Lessee shall have no right to rescind Lessee's Purchase Option Notice once given unless (a) a notice of such rescission is given (i) within ten (10) days following receipt of the final determination of the Fair Market Value of the Leased Property or (ii) within thirty (30) days following an event of Casualty or Condemnation as to which Lessee has waived any right of termination set forth in Section 13.2.2 hereof and (b) simultaneously with such notice of rescission, Lessee, by notice given pursuant to Section 1.3 hereof extends the Term.
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Samples: Facility Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\), Facility Lease Agreement (Emeritus Corp\wa\)
Exercise of Option; Deposit. Such Purchase Option shall permit Lessee to purchase the Leased Property (a) on the last day of the Initial Term or (b) on the last day of any Extended Term effectively exercised by Lessee (each of such dates are referred to herein as a "Purchase Option Date") and shall be exercised by notice given by Lessee to Lessor (the "Lessee's Purchase Option Notice") at least one hundred eighty (180) days (but not more than three hundred sixty (360) days) prior to the relevant Purchase Option Date. Notwithstanding anything to the contrary set forth in this Lease, Lessee's right to purchase the Leased Property is subject to the further conditions that (i) concurrently with the exercise of the option set forth under this Section 18.3, the Lessee shall have exercised its right to purchase the premises demised under each of the Related Leases in accordance with the provisions of Section 18.3 of each of the Related Leases, (ii) the conveyance of the Leased Property pursuant to the provisions of this Section 18.3 shall occur simultaneously with the conveyance of the premises demised under each of the Related Leases pursuant to Section 18.3 of each of the Related Leases and (iii) all conditions contained in the Agreement Regarding Related Transactions pertaining to the Purchase Option are satisfied. Lessee shall have no right to rescind Lessee's Purchase Option Notice once given unless (a) a notice of such rescission is given (i) within ten (( 10) days following receipt of the final determination of the Fair Market Value of the Leased Property or (ii) within thirty (30) days following an event of Casualty or Condemnation as to which Lessee has waived any right of termination set forth in Section 13.2.2 hereof and (b) simultaneously with such notice of rescission, Lessee, by notice given pursuant to Section 1.3 hereof extends the Term.111
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