Common use of Lessee’s Obligation to Purchase Clause in Contracts

Lessee’s Obligation to Purchase. If an Event of Default shall have occurred with respect to any Facility, Lessor may require Lessee to purchase the Leased Property of such Facility on the first Minimum Rent Payment Date occurring not less than thirty (30) days after the date specified in a notice from Lessor requiring such purchase for an amount equal to the greater of (i) the Fair Market Value of such Facility, or (ii) the Minimum Repurchase Price of such Facility, plus, in either event, all Rent then due and payable (excluding the installment of Minimum Rent due on the purchase date) with respect to such Facility. If Lessor exercises such right, Lessor shall convey the Leased Property of such Facility to Lessee on the date fixed therefor in accordance with the provisions of Article XVIII upon receipt of the purchase price therefor and this Lease shall thereupon terminate with respect to such Facility. Any purchase by Lessee of the Leased Property of a Facility pursuant to this Section shall be in lieu of the damages specified in Section 16.3 with respect to such Facility.

Lessee’s Obligation to Purchase. If an Upon the occurrence of a Put Event of Default shall have occurred with respect to any Facility, Lessor may shall be entitled to require Lessee to purchase the Leased Property of such Facility on the first Minimum Rent Payment Date occurring not less than thirty (30) days after the date specified in a notice from Lessor requiring such purchase for an amount equal to the greater of (ia) the Fair Market Value of for such Facility, Facility or (iib) the Allocated Minimum Repurchase Purchase Price of for such Facility, plus, in either event, all Rent then due and payable (excluding the installment of Minimum Rent and Additional Rent due on the purchase date) with respect to such Facility. If Lessor exercises such right, Lessor shall convey the Leased Property of such Facility to Lessee on the date fixed therefor in accordance with the provisions of Article XVIII upon receipt of the purchase price therefor and this Lease shall thereupon terminate with respect to such Facility. Any purchase by Lessee of the Leased Property of a Facility pursuant to this Section shall be in lieu of the damages specified in Section 16.3 with respect to such Facility.

Lessee’s Obligation to Purchase. If an Upon the occurrence of a Put Event of Default shall have occurred with respect to any Facility, Lessor may shall be entitled to require Lessee to purchase the Leased Property of such Facility on the first Minimum Rent Payment Date occurring not less than thirty sixty (3060) days after the date specified in a notice from Lessor requiring such purchase for an amount equal to the greater of (i) the Fair Market Value of such Facility, or (ii) the Minimum Repurchase Price of such Facility, plus, in either event, all Rent then due and payable (excluding the installment of Minimum Rent due on the purchase date) with respect to such Facility. If Lessor exercises such right, Lessor shall convey the Leased Property of such Facility to Lessee on the date fixed therefor in accordance with the provisions of Article XVIII upon receipt of the purchase price therefor and this Lease shall thereupon terminate with respect to such Facility. Any purchase by Lessee of the Leased Property of a Facility pursuant to this Section shall be in lieu of the damages specified in Section 16.3 with respect to such Facility.

Lessee’s Obligation to Purchase. If an Upon the occurrence of a Put Event of Default shall have occurred with respect to any the Facility, Lessor may shall be entitled to require Lessee to purchase the Leased Property of such Facility the Facility, on the first Minimum Rent Payment Date occurring not less than thirty (30) days after the date specified in a notice from Lessor requiring such purchase for an amount equal to the greater of (i) the Fair Market Value of such the Facility, or (ii) the Minimum Repurchase Price of such the Facility, plus, in either event, all Rent then due and payable (excluding the installment of Minimum Rent due on the purchase date) with respect to such the Facility. If Lessor exercises such right, Lessor shall convey the Leased Property of such the Facility to Lessee on the date fixed therefor in accordance with the provisions of Article XVIII upon receipt of the purchase price therefor and this Lease shall thereupon terminate with respect to such Facilityterminate. Any purchase by Lessee of the Leased Property of a the Facility pursuant to this Section shall be in lieu of the damages specified in Section 16.3 with respect to such the Facility. Notwithstanding anything herein to the contrary, the provisions of this Section 16.5 are subject to the rights of the Facility Mortgagees.