Lessee's Option to Purchase. (a) Subject to the terms, conditions and provisions set forth in this Article XIV, Lessee shall have the option (the "Purchase Option"), to be exercised as set forth below, to purchase from Lessor, Lessor's interest in all of the Leased Properties; provided that, except as set forth in paragraph (b) below, such option must be exercised with respect to all, but not less than all, of the Leased Properties. Such option must be exercised by written notice to Lessor not later than twelve months prior to the Lease Termination Date which notice shall be irrevocable; such notice shall specify the date that such purchase shall take place, which date shall be a Rent Payment Date occurring not less than thirty (30) days after such notice or the Lease Termination Date (whichever is earlier). If the Purchase Option is exercised pursuant to the foregoing, then, subject to the provisions set forth in this Article XIV, on the applicable purchase date or the Lease Termination Date, as the case may be, Lessor shall convey to Lessee, without recourse or warranty (other than as to the absence of Lessor Liens) and Lessee shall purchase from Lessor, Lessor's interest in the Leased Properties.
Lessee's Option to Purchase. If during the terms of this Agreement the FCC modifies its rules so as to enable Lessee to be licensed to operate the ITFS frequencies, Lessee shall have a right of first refusal to acquire such licenses subject to the same terms and conditions as the right provided for in Paragraph 1(B).
Lessee's Option to Purchase. Provided this Lease has not been terminated for any reason by either Lessor or Lessee prior thereto, Lessee shall have, at its option but with no obligation, the right to purchase all of Lessor's right, title and interest in the Property and, to the extent transferable, the Permits (the "Purchase Option") for a purchase price equal to the Purchase option Price, upon giving Lessor written notice of its election to purchase not less than 90 days prior to the expiration of the Initial Lease Term. If Lessee fails to give notice of its election to purchase within the time herein allowed or if this Lease is terminated prior to giving such notice, the Purchase option shall expire and shall be of no further force or effect. The purchase transaction shall be consummated on December 31, 2002 or on such other day during December 2002 as Lessor and Lessee shall agree to in writing (the "Option Closing Date") by delivery of limited warranty deeds and special warranty deeds to Lessee, or such other party as Lessee may direct, against payment of the Purchase Option Price in immediately available funds (excepting from such deeds such portion, if any, of the Property as shall have been sold by Lessor prior to the Option Closing Date pursuant to Section 35.2 hereof, taken by a Taking or otherwise released from this Lease pursuant to the terms hereof), and the title so to be transferred may be subject to (a) any and all defects in title and rights of third parties existing at the date Lessor acquired the Property, (b) the lien or effect of any and all Impositions and any and all Legal Requirements, (c) encumbrances and exceptions arising as a result of action taken by Lessor to enforce its rights and remedies under this Lease, and (d) any and all rights of third parties created or suffered by Lessee or by Lessor with the consent of or at the request of Lessee or as a result of any act or failure to act of Lessee, but shall be free of any other defects of title or rights of third parties created or permitted over the objections of Lessee by Lessor or Liens for Excluded Taxes, except this Lease. Lessee shall pay or cause to be paid, and shall indemnify and hold Lessor harmless against, all charges incident to the proposed conveyance (whether or not the same shall be consummated), including, without limitation, all reasonable counsel fees and expenses, all escrow fees, recording fees, title insurance premiums, survey costs and all applicable transfer taxes, deed taxes, stamp ta...
Lessee's Option to Purchase. (i) Section 35.1.8 of the Original Master Lease (as amended by the Amendments) is hereby further amended to read, in its entirety, as follows:
Lessee's Option to Purchase. At the end of the lease term, the Lessee will have the right to purchase the Second Finance Lease Assets at a nominal purchase price of RMB10,000.
Lessee's Option to Purchase. (a) So long as (i) no Event of Default has occurred and is continuing, and no event then exists which with the giving of notice or the passage of time or both would constitute an Event of Default, and (ii) no Event of Default has occurred and is continuing at the time of the closing of the purchase after Lessee notifies Lessor of its intent to exercise of such option, at the expiration of the Term of this Lease (as the same may be extended pursuant to Article II), Lessee shall have the option, to be exercised by written notice to the Lessor at least three hundred sixty-five (365) days prior to the expiration of the Term to purchase the entire Leased Property then subject to this Lease, and not less than the entire Leased Property then subject to this Lease, at a purchase price equal to the Option Price for the entire Leased Property then subject to this Lease. In the event that Lessee exercises the foregoing purchase option, upon delivery of the exercise notice, all of Lessee’s rights to extend the Term under Article II (if any remaining at the time of exercise of the purchase option) shall be forever forfeited and of no further force or effect.
Lessee's Option to Purchase. At the end of the lease term of the Lease Agreement, Yangtze Express will have the right to purchase the Equipment at a nominal purchase price of RMB10,000 (equivalent to approximately HK$11,700). Undertakings HNA Aviation, a substantial shareholder of Yangtze Express, has entered into an agreement with South China Leasing, pursuant to which South China Leasing may request HNA Aviation, and HNA Aviation undertakes at the request of South China Leasing, either (i) to buy back the Equipment; or (ii) to take up the obligations of Yangtze Express under the Lease Agreement.
Lessee's Option to Purchase. At the expiration of the Initial Lease Term of a Schedule or any renewal or extension thereof, Lessee may elect to purchase any or all of the Units under such Schedule to the Lease for a purchase price equal to the "Fair Market Value" (as defined in Section 4(b) below) thereof as of the end of the Initial Lease Term of such Schedule plus any applicable sales or other transfer tax.
Lessee's Option to Purchase. At any time during the first ten (10) years of the lease term from May 15, 1996 through May 14, 2006, both dates inclusive, Lessee is hereby given the option to purchase the Property on the terms and conditions as set forth in this Section 8. The option to purchase the property must be exercised by Lessee no later than the 14th day of May, 2006. Lessee shall exercise the option by notifying Lessor in writing sent by registered or certified mail, return receipt requested, or by personal delivery of its intention to exercise the option. The date on which said notice is received by Lessor shall be considered the day on which the option is exercised. Receipt of such notice by Lessor shall constitute a binding contract between Lessor and Lessee to purchase the Property. The option to purchase under this Section 8 may only be exercised by Lessee if the Lessee is not in default of any of its obligations or covenants under this lease at the time the option is exercised. Lessee may assign this option to purchase to any of its affiliated companies as defined elsewhere in this agreement. In the event of exercise by Lessee of its option to purchase the property, the following terms and conditions shall be applicable to such sale:
Lessee's Option to Purchase. At the expiration of the Initial Lease Term of the first Schedule hereto, Lessee may elect to purchase all, but not less than all, of the Equipment under all Schedules at their respective expiration dates for a purchase price equal to the then Fair Market Value, but not less than 10% nor more than 15% of original Equipment Cost determined as of the Commencement Date applicable to each Schedule, plus any applicable sales or other transfer taxes payable as a result of such sale plus any amounts that remain unpaid to Lessor under the Lease.
