Lessee's Option to Purchase. (a) Subject to the terms, conditions and provisions set forth in this Article XIV, the Lessee shall have the option (the "Purchase Option"), ----------- --------------- to be exercised as set forth below, to purchase from the Lessor, the Lessor's interest in all of the Leased Property. Such option must be exercised by written notice to the Lessor not later than six (6) 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 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, the Lessor shall convey to the Lessee, without recourse or warranty (other than as set forth in the special warranty deed and as to the absence of Lessor Liens), and the Lessee shall purchase from the Lessor, the Lessor's interest in the Leased Property leased by the Lessee. (b) [Reserved]
Appears in 1 contract
Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)
Lessee's Option to Purchase. (a) Subject to the terms, conditions and provisions set forth in this Article XIV, the Lessee shall have the option (the "Purchase Option"), ----------- --------------- to be exercised as set forth below, to purchase from the Lessor, the Lessor's interest in all of the Leased PropertyProperties; 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 the Lessor not later than six (6) 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 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, the Lessor shall convey to the Lessee, by special warranty deed and bill of sale without recourse or warranty (other than as set forth in the special warranty deed and as to the absence absexxx of Lessor Liens), ) and the Lessee shall purchase from the Lessor, the Lessor's interest in the Leased Property leased by the LesseeProperties.
(b) [Reserved]
Appears in 1 contract
Samples: Master Agreement (Aaron Rents Inc)
Lessee's Option to Purchase. (a) Subject to the terms, --------------------------- conditions and provisions set forth in this Article XIV, the each Lessee shall have ----------- the option (the "Purchase Option"), ----------- --------------- to be exercised as set forth below, to --------------- purchase from the Lessor, the Lessor's interest in all of the Leased PropertyProperties; provided that such option must be exercised with respect to all, but not less -------- than all, of the Leased Properties under all of the Lease Supplements. Such option must be exercised by written notice to the Lessor not later than six (6) months prior to the Lease Termination Date EBO Date, which notice shall be irrevocable; such notice shall specify the date that such purchase shall take place, which date shall be a date occurring not less than thirty (30) days after such notice or the Lease Termination EBO 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 date, ----------- the Lease Termination Date, as the case may be, the Lessor shall convey to the each Lessee, by special warranty deed and xxxx of sale, without recourse or warranty (other than as set forth in the special warranty deed and as to the absence of Lessor Liens), ) and the each Lessee shall purchase from the Lessor, the Lessor's interest in the Leased Property Properties leased by the such Lessee.
(b) [Reserved]
Appears in 1 contract
Lessee's Option to Purchase. (a) Subject to the terms, terms and conditions and provisions set forth in this Article XIVArticle, the Lessee shall have the option (the "Purchase Option"), ----------- --------------- exercisable at any time during the Lease Term on or prior to be exercised as set forth belowthe tenth Business Day next preceding the Lease Termination Date, to purchase from the Lessor, the Lessor's entire interest in all all, but not less than all, of any Property at the Leased purchase price equal to the Purchase Option Price for such Property. Such option must be exercised by written notice to the Lessor not later than six (6) months prior to and the Lease Termination Date Lender, which notice exercise shall be irrevocable; , and such notice shall specify the closing date that for Lessee's purchase of such purchase shall take placeProperty, which date shall be a date occurring (i) not less than thirty ten (3010) Business Days or more than 90 calendar days after following the Lessor's receipt of such notice or and (ii) in any event not later the Lease Termination Date (whichever is earlier)Date. If the Purchase Option is exercised pursuant to the foregoing, then, subject to the provisions set forth in this Article XIVArticle, on the applicable purchase date or ----------- the Lease Termination Datesuch closing date, as the case may be, the Lessor shall convey to the Lessee, without recourse or warranty (other than as set forth in the special warranty deed and as to the absence of Lessor Liens), and the Lessee shall purchase from the Lessor, the Lessor's interest in all, but not less than all, of such Property. If Lessee fails to exercise the Leased Property leased by Purchase Option in a timely manner, then the Lessee.
(b) [Reserved]Purchase Option shall thereupon automatically
Appears in 1 contract
Samples: Master Lease and Development Agreement (Eagle Usa Airfreight Inc)
Lessee's Option to Purchase. (a) Subject to the terms, conditions and provisions set forth in this Article XIV, the Lessee shall have the option (the "Purchase ----------- -------- Option"), ----------- --------------- to be exercised as set forth below, to purchase from the ------ Lessor, the Lessor's interest in all of the Leased Property. Such option must be exercised by written notice to the Lessor not later than six (6) 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 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, the Lessor shall convey to the Lessee, without recourse or warranty (other than as set forth in the special warranty deed and as to the absence of Lessor Liens), and the Lessee shall purchase from the Lessor, the Lessor's interest in the Leased Property leased by the Lessee.
(b) [Reserved]
Appears in 1 contract
Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)