Option to Purchase Project. Subject to the provisions of this Article, the Company shall have the option to purchase the Issuer’s leasehold interest in the Project at any time during the Term hereof and for a period of 30 days thereafter. The Company shall exercise its option by giving the Issuer written notice of the Company’s election to exercise its option and specifying the date, time and place of closing, which date (the “Closing Date”) shall neither be earlier than 30 days nor later than 180 days after the notice is given. The Company may not, however, exercise such option if the Company is in Default hereunder on the Closing Date unless all Defaults are cured upon payment of the purchase price specified in Section 17.2.

Option to Purchase Project. Subject to the provisions of this Article, the Tenant shall have the right and option to purchase the Issuer's interest in the Project at any time during the Term hereof and for 120 days thereafter. The Tenant shall exercise its option by giving the Issuer written notice of the Tenant's election to exercise its option and specifying the date, time and place of closing, which date (the "Release Date") shall neither be earlier than 30 days nor later than 180 days after the notice is given. The Tenant may not, however, exercise such option if the Tenant is in Default hereunder on the Release Date unless all Defaults are cured upon payment of the purchase price specified in Section 17.2.

Option to Purchase Project. Subject to the provisions of this Article, Tenant shall have the right and option to purchase the Project at any time during the Term hereof. Tenant shall exercise its aforesaid option by giving Issuer written notice of Tenant's election to exercise its option and specifying the date, time and place of closing, which date (the "Closing Date") shall neither be earlier than Thirty (30) days nor later than One Hundred Eighty (180) days after the notice is given. Tenant may not, however, exercise its said option if Tenant is in default hereunder on the Closing Date.

Option to Purchase Project. Subject to the provisions of this Article, and upon optional redemption of the Bonds pursuant to Article III of the Indenture, the Company shall have the option to purchase the Issuer’s leasehold interest in the Project at any time during the Term hereof and for 10 days thereafter. The Company shall exercise its option by giving the Issuer written notice of Company’s election to exercise its option and specifying the date, time and place of closing, which date (the “Closing Date”) shall neither be earlier than 30 days nor later than 180 days after the notice is given. The Company may not, however, exercise such option if the Company is in Default hereunder on the Closing Date unless all Defaults are cured upon payment of the purchase price specified in Section 17.2.

Option to Purchase Project. 26 Section 16.2. Quality of Title and Purchase Price....................... 26 Section 16.3.

Option to Purchase Project. (a) Anything in this Lease Agreement to the contrary notwithstanding, the User shall have the option to purchase the Project at any time if no Event of Default shall then exist or would not be cured by exercise of such option.

Option to Purchase Project. 20 SECTION 17.2. QUALITY OF TITLE AND PURCHASE PRICE.........................20 SECTION 17.3. CLOSING OF PURCHASE.........................................20 SECTION 17.4. EFFECT OF FAILURE TO COMPLETE PURCHASE......................21 SECTION 17.5. APPLICATION OF CONDEMNATION AWARDS IF CORPORATION PURCHASES PROJECT...........................................21 SECTION 17.6. OPTION TO PURCHASE UNIMPROVED PORTIONS OF LAND..............21 SECTION 17.7. QUALITY OF TITLE - PURCHASE PRICE...........................22 SECTION 17.8. CLOSING OF PURCHASE.........................................22 SECTION 17.9. EFFECT OF PURCHASE ON LEASE.................................22 SECTION 17.10. EFFECT OF FAILURE TO COMPLETE PURCHASE......................22 ARTICLE XVIII SECTION 18.1. DAMAGE AND DESTRUCTION......................................23 SECTION 18.2. CONDEMNATION................................................24 ARTICLE XIX SECTION 19.1. TERMINATION BY REASON OF CHANGE OF CIRCUMSTANCES............24 ARTICLE XX

Option to Purchase Project. 30 SECTION 11.4 Option to Purchase Portions of Protect Site.......... 30 SECTION 11.5 Conveyance on Exercise of Option to Purchase......... 31 LEASE AGREEMENT --------------- THIS LEASE AGREEMENT dated as of March 1, 1995 is entered into by THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF ANNISTON, a public corporation organized under the laws of the State of Alabama (the "Issuer"), and DEFENSE RESEARCH INCORPORATED (the "User").

Option to Purchase Project. 37 Section 17.2 Quality of Title and Purchase Price for Project ................................................37 Section 17.3 Closing of Purchase of Project ...............................38 Section 17.4 Effect of Failure to Complete Purchase of Project .................................................39 Section 17.5 Application of Condemnation Awards if Tenant Purchases Project ...............................39 Section 17.6 Option to Purchase Unimproved Portions of Land ....................................................40 Section 17.7 Quality of Title and Purchase Price for Unimproved Portions of Land ............................40 Section 17.8 Closing of Purchase of Unimproved Portions of Land ....................................................41 Section 17.9 Effect on Lease of Purchase of Unimproved Portions of Land ...........................................41 Section 17.10 Effect of Failure to Complete Purchase of Unimproved Portions of Land .............................41 -iii-

Option to Purchase Project Sample Clauses

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