Common use of Land and Building Clause in Contracts

Land and Building. If any Building and the Land on which such Building is located are subject to separate Lease Supplements, at any time that the related Lessee exercises an option to purchase such Building or such Land, or to renew this Lease with respect to such Building or such Land, or is obligated to purchase such Building or such Land as a result of an Event of Loss, an Event of Taking or an Event of Default, such purchase or renewal shall be made simultaneously with respect to all of such Building and such Land.

Appears in 10 contracts

Samples: Master Lease Agreement (Concord Efs Inc), Master Lease Agreement (Concord Efs Inc), Master Lease Agreement (Choicepoint Inc)

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Land and Building. If any Building and the Land on which such Building is located are subject to separate Lease Supplements, at any time that the related Lessee exercises an option to purchase such Building or such Land, or to renew this Lease with respect to such Building or such Land, or is obligated to purchase such Building or such Land as a result of an Event of Loss, an Event of Taking or an Event of Default, such purchase or renewal shall be made simultaneously with respect to all of such Building and such Land.

Appears in 2 contracts

Samples: Master Lease Agreement (Checkfree Corp \Ga\), Lease Participation Agreement (Aaron Rents Inc)

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Land and Building. If any Building and the Land on which ----------------- such Building is located are subject to separate Lease Supplements, at any time that the related Lessee exercises an option to purchase such Building or such Land, or to renew this Lease with respect to such Building or such Land, or is obligated to purchase such Building or such Land as a result of an Event of Loss, an Event of Taking or an Event of Default, such purchase or renewal shall be made simultaneously with respect to all of such Building and such Land.

Appears in 1 contract

Samples: Master Lease Agreement (Rowe Companies)

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