Option to Purchase the Project. The Developer shall have, and is hereby granted, the option to purchase all or any portion of the City’s interest in the Project at any time, upon payment in full or redemption of the Outstanding Bonds to be redeemed or provision for their payment or redemption having been made pursuant to Article XIII of the Indenture. To exercise such option, the Developer shall give written notice to the City and to the Trustee, and shall specify therein the date of closing of such purchase, which date shall be not less than 15 nor more than 90 days from the date such notice is mailed, and, in case of a redemption of the Bonds in accordance with the provisions of the Indenture, the Developer shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. Notwithstanding the foregoing, if the City or the Trustee provides notice of its intent to exercise its remedies hereunder upon an Event of Default (a “Remedies Notice”), the Developer shall be deemed to have exercised its repurchase option under this Section on the 29th day following the issuance of the Remedies Notice without any further action by the Developer; provided said Remedies Notice has not been rescinded by such date (such option to take place on the 29th day following the issuance of the Remedies Notice). The Developer may rescind such exercise by providing written notice to the City and the Trustee on or before the 29th day and by taking such action as may be required to cure the default that led to the giving of the Remedies Notice. The purchase price payable by the Developer in the event of its exercise of the option granted in this Section shall be the sum of the following:
Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time, prior to the expiration of the Lease Term upon payment in full of all Bonds then Outstanding or provision for their payment having been made pursuant to Article XIII of the Indenture. To exercise such option the Company shall give written notice to the Issuer and to the Trustee, if any, of the Bonds as shall then be unpaid or provision for their payment shall not have been made in accordance with the provisions of the Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than 30 nor more than 180 days from the date such notice is mailed, and in case of a redemption of the Bonds in accordance with the provisions of the Indenture the Company shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Company in the event of its exercise of the option granted in this Section shall be the sum of the following:
Option to Purchase the Project. The Company shall have the right to purchase the Project, including the Issuer's leasehold interest in the Project Site on any interest payment date during the Lease Term, including any renewals or extensions thereof. The purchase price shall be the greater of (a) the fair market value of the Project financed by the net proceeds of the Bonds (i.e., excluding the Project Site and the Issuer's leasehold interest in the Project Site), as determined by an independent appraiser mutually acceptable to the Issuer and the Company or (b) the amount required to redeem the Bonds in whole pursuant to Section 3.01 or 3.02 of the Indenture or to defease the Bonds pursuant to Article VII of the Indenture, including, but not limited to an amount equal to principal, interest accrued and to accrue, and redemption premium, if any, to the date of purchase or, if later, redemption of the Bonds. To exercise its purchase option, the Company shall give the Issuer written notice not later than eight months prior to the date of purchase and shall deliver to the Trustee an opinion of Xxxxx & Xxxxxx or other nationally recognized bond counsel acceptable to the Owners of a majority in aggregate principal amount of the Bonds Outstanding to the effect that such exercise will not adversely affect the exclusion from gross income of the Holders of the Bonds for federal income tax purposes of the interest on the Bonds. All costs incurred in connection with the exercise by the Company of its option hereunder, including the cost of the appraisal, title work, etc., shall be paid by the Company. In the event the Company exercises its option to purchase the Project, including the Issuer's interest in the Project Site pursuant to this Section 5.5, the Issuer agrees and directs the Company to transfer to the Trustee the portion of the purchase price required to redeem the Bonds in whole on the date of purchase of the Project. The Company covenants and agrees to transfer to the Issuer the portion of the purchase price in excess of the amount necessary to redeem the Bonds. Promptly upon receipt from the Company of notice that it shall exercise its purchase option hereunder, the Issuer shall transmit notice to the Trustee that the Bonds will be redeemed in whole and directing the Trustee to (a) transmit notice of redemption to Bondholders in accordance with Section 3.03 of the Indenture and (b) redeem the Bonds in whole on the redemption date. In the event that the Company exercises its option to pur...
Option to Purchase the Project. Section 10.01. Option to Purchase the Project...............................30 Section 10.02. Conveyance of the Project....................................30 Section 10.03. Relative Position of Option and Indenture....................31 Section 10.04. Option to Purchase Unimproved Portions of Land...............31 Section 10.05. Quality of Title - Purchase Price............................31 Section 10.06. Closing of Purchase..........................................32 Section 10.07. Effect of Purchase on Lease..................................32 Section 10.08. Effect of Failure to Complete Purchase.......................32 ARTICLE XI
Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time prior to the expiration of the Lease Term upon payment in full of all Bonds then Outstanding or provision for their payment having been made pursuant to Article VII of the Indenture. To exercise such option the Company (or the Bank, if acting on behalf of the Company after an event of default under the Credit Agreement) shall give written notice to the Issuer and to the Trustee, if any of the Bonds shall then be unpaid or provision for their payment shall not have been made in accordance with the provisions of the Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than 45 nor more than 90 days from the date such notice is mailed. The purchase price payable by the Company in the event of its exercise of the option granted in this Section shall be the sum of the following:
Option to Purchase the Project. Section 10.1. Option to Purchase the Project 24 Section 10.2. Conveyance of the Project 25 Section 10.3. Relative Position of Option and Indenture 25 ARTICLE XI
Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time prior to the expiration of the term of this Lease, and through the notice periods hereinafter provided, upon payment in full of the Bond or provision for its payment having been made pursuant to the Bond Purchase Agreement. To exercise such option the Company shall give written notice to the City and to the Bank, if the Bond shall then be unpaid or provision for its payment shall not have been made in accordance with the provisions of the Bond Purchase Agreement, and shall specify therein the date of closing such purchase, which date shall be not less than forty-five (45) nor more than ninety (90) days from the date such notice is mailed. The purchase price payable by the Company in the event of its exercise of the option granted in this Section shall be the sum of the following:
Option to Purchase the Project. Unless otherwise specified in writing by AmerenUE or an Affiliate at the time the Bonds are issued, when all principal and interest due on the Bonds shall have been paid in full, AmerenUE or its permitted successors and assigns shall have the option to purchase the Project for $1,000. In addition, if the terms of the Bonds permit the Bonds to be assumed by AmerenUE or its permitted successors and assigns, AmerenUE and its permitted successors and assigns shall also have the option to purchase the Project for $1,000 upon such an assumption of the Bonds.
Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time prior to the expiration of the term of this Lease Agreement upon payment and discharge of all Bonds pursuant to Article X of the Bond Indenture. To exercise such option the Company shall give written notice to the Issuer and to the Bond Trustee, if any of the Bonds shall then be unpaid or provision for their payment shall not have been made in accordance with the provisions of the Bond Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than 45 nor more than 90 days from the date such notice is mailed. The purchase price payable by the Company in the event of its exercise of the option granted in this Section shall be the sum of the following:
Option to Purchase the Project
