Common use of Expiration Date Purchase Obligation Clause in Contracts

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section 18.1 and purchased all of the Properties pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX and the Lessor Trust shall have sold its interests in all of the Properties pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor Trust, and the Lessor Trust shall convey to the Lessee (or its designee), on the Expiration Date all of the interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option the Purchase Option pursuant to Section 18.1 20.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (j) and (m) of Section 22.1 hereof, or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1 and the Lessor Trust terms and conditions of a Renewal Term shall have sold its interests in all of the Properties been agreed upon pursuant theretoto such Section, then, subject to the terms, conditions and provisions set forth in this ArticleSection 20.2, and in accordance with the terms of Section 21.1(a19.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall assign and convey to the Lessee (or its designee)without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest of in the Lessor Trust in all of the Properties Property for an amount equal to the Lease BalanceAsset Termination Value (the "Expiration Date Purchase Obligation"), offsetting against such amount the aggregate amount of the Cash Collateral, if any. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of Lessor an amount equal to the Lessor Trust) the Lease Balance Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section 18.1 and purchased all of the Properties pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX and the Lessor Trust shall have sold its interests in all of the Properties pursuant theretoXX, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee), on the Expiration Date all of the interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section 18.1 and purchased all of the Properties pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX and (unless Section 20.3 hereof is operative) or (c) the Lessor Trust shall have sold its interests in all of elects to extend the Properties remarketing period until the Extended Expiration Date pursuant theretoto Section 20.3(a) hereof, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee), on the Expiration Date all of the interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) an amount equal to the Lease Balance that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section SECTION 18.1 and purchased all of the Properties pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX CLAUSES (a) through (l) of SECTION 20.1 hereof and the Lessor Trust shall have sold its interests interest in all of the Properties pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section SECTION 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee)Lessee, on the Expiration Date all of the Lessor's interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; providedPROVIDED, howeverHOWEVER, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section 18.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX and the Lessor Trust shall have sold its interests in all of the Properties pursuant theretoXX, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustAgent Lessor, and the Agent Lessor Trust shall convey to the Lessee (or its designee), on the Expiration Date (giving effect to any extensions thereof in connection with the extension of the Expiration Date and the provisions of Article XIX hereof) all of the interest of the Agent Lessor Trust and the Lessors in all of the Properties Property for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Agent Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause either the Lessee or the Guarantor to be released, fully or partially, from any of its obligations under this Master LeaseLease or the Guaranty, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such the Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option pursuant to Section 18.1 and purchased all of the Properties pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (l) of Section 20.1 hereof and the Lessor Trust shall have sold its interests interest in all of the Properties pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee)Lessee, on the Expiration Date all of the Lessor's interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option the Purchase Option pursuant to Section 18.1 and purchased all of the Properties Improvements pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (k) of Section 20.1 hereof and the Lessor Trust shall have sold its interests interest in all of the Properties Improvements pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee)Lessee, on the Expiration Date all of the Lessor's interest of in the Lessor Trust in all of the Properties Improvements for an amount equal to the Lease BalanceBalance (plus all other amounts owing in respect of Rent including Supplemental Rent theretofore accruing). The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, including the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option the Purchase Option pursuant to Section 18.1 20.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (j) of Section 22.1 hereof or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1 and the Lessor Trust terms and conditions of a Renewal Term shall have sold its interests in all of the Properties been agreed upon pursuant theretoto such Section, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a19.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey assign to the Lessee (or its designee)without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest in the Property, together with the Lessor's rights under the Ground Lease (except for the Lessor's rights of indemnification), (subject to all existing Liens, other than the Mortgage and Lessor Trust in all of the Properties Liens) for an amount equal to the Lease BalanceAsset Termination Value (offsetting against such amount the aggregate amount of the Cash Collateral, if any). The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of Lessor an amount equal to the Lessor Trust) the Lease Balance Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless Unless (a) the Lessee shall have properly exercised its option the Purchase Option pursuant to Section 18.1 20.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (k) of Section 22.1 hereof and the Lessor Trust shall have sold its interests interest in all of the Properties Property pursuant thereto, or (c) the Lessee shall have properly exercised the Renewal Option pursuant to Section 21.1, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a19.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey assign to the Lessee (or its designee)without recourse, on the Expiration Date of the Term (as such Term may be renewed pursuant to Section 21.1) all of the Lessor's right, title and interest of in the Lessor Trust in all of the Properties Property for an amount equal to the Lease BalanceAsset Termination Value. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of Lessor an amount equal to the Lessor Trust) the Lease Balance Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly exercised its option the Purchase Option pursuant to Section 18.1 20.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX and the Lessor Trust shall have sold its interests in all of the Properties pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms clauses (a) through (k) of Section 21.1(a)22.1 hereof, the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey assign to the Lessee (or its designee)without recourse, on the Expiration Date of the Term (as such Term may be extended, if Lessee properly exercises the Renewal Option pursuant to Section 21.1) all of Lessor's right, title and interest in the interest of Property (subject to all existing Liens, other than the Mortgage and Lessor Trust in all of the Properties Liens) for an amount equal to the Lease BalanceAsset Termination Value. The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay Lessor an amount equal to the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance Asset Termination Value that was not fully and finally paid by such designee on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the a Lessee shall have properly exercised its option pursuant to Section SECTION 18.1 and purchased all of the Properties pursuant thereto, or (b) the a Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX and the Lessor Trust shall have sold its interests in all CLAUSES (a) through (l) of the Properties pursuant theretoSECTION 20.1 hereof, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section SECTION 21.1(a), the Lessee (or its designee) Lessees shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee Lessees (or its their designee), on the Expiration Date of the Term all of the interest of the Lessor Trust in all of the Properties for an amount equal to the Lease Balance. The A Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the a Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; providedPROVIDED, howeverHOWEVER, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance on such Expiration Date.. Master Lease

Expiration Date Purchase Obligation. Unless (a) the Lessee shall have properly previously exercised its option pursuant to Section 18.1 and purchased all of the Properties Property pursuant thereto, or (b) the Lessee shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements of Article XX and the Lessor Trust shall have sold its interests in all of the Properties pursuant theretoXX, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee), on the Expiration Date all of the interest of the Lessor Trust in all of the Properties Property for an amount equal to the Lease BalanceBalance (excluding any Make-Whole Amount). The Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent Indenture Trustee not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance (excluding any Make-Whole Amount) on such Expiration Date.

Expiration Date Purchase Obligation. Unless (a) the Lessee Lessees shall have properly exercised its option their Purchase Option pursuant to Section 18.1 18.1(a) and purchased all of the Properties pursuant thereto, or (b) the Lessee Lessees shall have properly exercised the Remarketing Option and shall have fulfilled all of the requirements conditions of Article XX clauses (a) through (l) of Section 20.1 hereof and the Lessor Trust shall have sold its interests interest in all of the Properties pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article, and in accordance with the terms of Section 21.1(a), the each Lessee (or its designee) shall purchase from the Lessor TrustLessor, and the Lessor Trust shall convey to the Lessee (or its designee)applicable Lessee, on the Expiration Date all of the Lessor's interest of in the Lessor Trust in Property (including all of the Properties Lessor's interest in this Master Lease to the extent relating to such Property) leased by such Lessee for an amount equal to the Lease BalanceBalance with respect to such Property. The applicable Lessee may designate, in a notice given to the Lessor Trust, the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee or transferees shall not cause the applicable Lessee to be released, fully or partially, from any of its obligations under this Master Lease, including, without limitation, the obligation to pay the Agent Certificate Holder (on behalf of the Lessor Trust) the Lease Balance relating to such Property on such Expiration Date.