Common use of Option to Purchase Project Clause in Contracts

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 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.