Common use of Obsolescence of the Leased Property; Offer to Purchase Clause in Contracts

Obsolescence of the Leased Property; Offer to Purchase. If the Leased Property becomes Unsuitable for its Primary Intended Use, all as set forth in an Officer's Certificate delivered to Lessor, Lessee may on or after the fifteenth anniversary of the Commencement Date (provided this Lease is still in effect), purchase the Leased Property for the Minimum Repurchase Price on the first Payment Date occurring not less than 120 days after the date of such Officer's Certificate.

Appears in 2 contracts

Samples: Lease Agreement (Balanced Care Corp), Lease Agreement (Balanced Care Corp)

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Obsolescence of the Leased Property; Offer to Purchase. If the Leased Property becomes Unsuitable for its Primary Intended Use, all as set forth in an Officer's Certificate delivered to Lessor, . Lessee may on or after the fifteenth anniversary of the Commencement Date (provided this Lease is still in effect), purchase the Leased Property for the Minimum Repurchase Price Purchase Amount on the first Payment Date occurring not less than 120 days after the date of such Officer's Certificate.

Appears in 2 contracts

Samples: Lease Agreement (Integrated Living Communities Inc), Lease Agreement (Integrated Living Communities Inc)

Obsolescence of the Leased Property; Offer to Purchase. If the Leased Property becomes Unsuitable for its Primary Intended Use, all as set forth in an Officer's Certificate delivered to Lessor. Lessee may, Lessee may on or after the fifteenth anniversary of the Commencement Date (provided this Lease is still in effect), purchase the Leased Property for the Minimum Repurchase Purchase Price on the first Payment Date occurring not less than 120 days after the date of such Officer's Certificate.

Appears in 1 contract

Samples: Lease Agreement (Ramsay Health Care Inc)

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Obsolescence of the Leased Property; Offer to Purchase. If the Leased Property becomes Unsuitable for its Primary Intended Use, all as set forth in an Officer's Certificate delivered to Lessor, . Lessee may on or after the fifteenth anniversary of the Commencement Date (provided this Lease is still in effect), purchase the Leased Property for the Minimum Repurchase Purchase Price on the first Payment Date occurring not less than 120 days after the date of such Officer's Certificate.

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

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