Common use of Lessee's Offer Clause in Contracts

Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, and Lessor shall be entitled to retain the Award except as provided in Section 15.4.

Appears in 5 contracts

Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)

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Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, and Lessor shall be entitled to retain the Award except as provided in Section 15.4.

Appears in 3 contracts

Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc), Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc)

Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall may offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking Taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, Lease and Lessor shall be entitled to retain the Award except as provided in Section 15.4.

Appears in 1 contract

Samples: Lease Agreement (Host Funding Inc)

Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall may offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking Taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased PropertyProperty within ninety (90) days, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, Lease and Lessor shall be entitled to retain the Award except as provided in Section 15.415.4 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Host Funding Inc)

Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, and Lessor shall be entitled to retain the Award except as provided in Section 15.4.

Appears in 1 contract

Samples: Lease Agreement (Humphrey Hospitality Trust Inc)

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Lessee's Offer. In the event of the termination of this Lease as provided in Section 15.3, Lessee shall may offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking Taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, Lease and Lessor shall be entitled to retain the Award except as provided in Section 15.415.4 of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Host Funding Inc)

Lessee's Offer. In the event of the termination of this Lease as -------------- provided in Section 15.3, Lessee shall offer to acquire the Leased Property from Lessor for a purchase price equal to the Rejectable Offer Price of the Leased Property without regard to such taking and, if accepted, Lessee shall receive the entire Award. If Lessor does not accept Lessee’s 's offer to purchase the Leased Property, Lessee shall withdraw its offer to purchase the Leased Property and, if so withdrawn, Lessee may terminate the Lease with respect to the Leased Property without further liability hereunder, except for payment of Rent as provided in the penultimate sentence of Section 15.3 or for matters which by their express terms survive termination of this Lease, and Lessor shall be entitled to retain the Award except as provided in Section 15.4.

Appears in 1 contract

Samples: Lease Agreement (Humphrey Hospitality Trust Inc)

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