Common use of Lease Termination Option and Purchase Offer Clause in Contracts

Lease Termination Option and Purchase Offer. Notwithstanding the above, if as a result of the Taking, in Tenant’s good faith judgment, the Leased Property can no longer be profitably operated or is no longer suitable for its intended use, then Tenant may, in lieu of Repairing the same, by written notice delivered to Landlord within sixty (60) days after such determination, either (i) propose to continue this Lease in effect, or (ii) propose to terminate this Lease and purchase the Leased Property for the purchase price specified by Tenant in such notice (any such written notice by Tenant electing under subsection (ii) to terminate this Lease and purchase the Leased Property shall be referred to as a “Tenant Taking Termination Notice”). Tenant’s failure to deliver its Tenant Taking Termination Notice within such sixty (60) day period shall constitute Tenant’s election to continue the Lease in effect and to Repair the damaged or destroyed Leased Property as provided in subsection (i) of this Section 16.2(b).

Lease Termination Option and Purchase Offer. Notwithstanding the above, if as a result of the Taking, in TenantLessee’s good faith judgment, the Leased Property can no longer be profitably operated or is no longer suitable for its intended use, then Tenant Lessee may, in lieu of Repairing repairing, restoring or replacing the same, by written notice delivered to Landlord Lessor within sixty (60) days after such determination, either (i) propose to continue this Lease in effect, or (ii) propose to terminate this Lease and purchase the Leased Property for the purchase price specified by Tenant Lessee in such notice (any such written notice by Tenant Lessee electing under subsection (ii) to terminate this Lease and purchase the Leased Property shall be referred to as a “Tenant Lessee Taking Termination Notice”). TenantLessee’s failure to deliver its Tenant Lessee Taking Termination Notice within such sixty (60) day period shall constitute TenantLessee’s election to continue the Lease in effect and to Repair restore, repair or replace the damaged or destroyed Leased Property as provided in subsection (i) of this Section 16.2(b).

Lease Termination Option and Purchase Offer. Notwithstanding the above, if as a result of the Taking, in Tenant’s good faith judgment, the Leased Property can no longer be profitably operated or is no longer suitable for its intended use, then Tenant may, in lieu of Repairing the same, by written notice delivered to Landlord within sixty (60) days after such determination, either (i) propose to continue this Lease in effect, or (ii) propose to terminate this Lease and purchase the Leased Property for the purchase price specified by Tenant in such notice (any such written notice by Tenant electing under subsection (ii) to terminate this Lease and purchase the Leased Property shall be referred to as a ““ Tenant Taking Termination NoticeNotice ”). Tenant’s failure to deliver its Tenant Taking Termination Notice within such sixty (60) day period shall constitute Tenant’s election to continue the Lease in effect and to Repair the damaged or destroyed Leased Property as provided in subsection (i) of this Section 16.2(b)) .