Common use of Option to Purchase the Project Clause in Contracts

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 City 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: (a) an amount of money which, when added to the amount then on deposit in the Bond Fund, will be sufficient to redeem all the then Outstanding Bonds on the earliest redemption date next succeeding the closing date, including, without limitation, principal and interest to accrue to said redemption date and redemption expense; plus (b) an amount of money equal to the Trustee’s and the Paying Agent’s agreed to and reasonable fees and expenses under the Indenture accrued and to accrue until such redemption of the Bonds; plus (c) the sum of $100.

Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time, 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 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 City Issuer and to the Trustee, if any, 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 45 nor more than 180 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 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: (a) an the full amount which is required to provide the Issuer and the Trustee with funds sufficient, in accordance with the terms of money whichthe Indenture, when added to pay at maturity or to redeem and pay in full (i) the principal of all of the Outstanding Bonds, or if the Bank so requires pursuant to the amount then last sentence of this Section 10.1, the Series 2005A Bonds, (ii) all interest due on deposit in the Bond Fund, will be sufficient to redeem all the then Outstanding Bonds on to the earliest date of maturity or redemption, which ever first occurs, (iii) all costs, expenses and premiums incident to the redemption date next succeeding and payment of the closing dateOutstanding Bonds in full, includingor if the Bank so requires pursuant to the last sentence of this Section 10.1, without limitation, principal the Series 2005A Bonds and interest (iv) any unpaid payment pursuant to accrue to said redemption date and redemption expense; plusSection 6.20 hereof; (b) an amount of money equal to the Issuer’s, Trustee’s ’s, and the Paying Agent’s agreed to and reasonable other professional fees and expenses under the Indenture and this Lease Agreement accrued and to accrue until such redemption of the Bonds; plus; (c) an amount of money equal to the Bank’s fees and expenses under the Bank Documents; and (d) the sum of $100.1.00. Notwithstanding the foregoing, if there is a default under the Credit Agreement on the date of the closing of the purchase, the Bank shall have the right to require that the purchase price be calculated based upon the Series 2005A Bonds only, and not the Series 2005B Bonds, and that such purchase price be used solely to redeem or purchase the Series 2005A Bonds and not the Series 2005B Bonds on the date of the closing

Option to Purchase the Project. The Company Tenant 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 Tenant shall give written notice to the City 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 Tenant shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Company Tenant in the event of its exercise of the option granted in this Section shall be the sum of the following: (a) an amount of money which, when added to the amount then on deposit in the Bond Fund, will be sufficient to redeem all the then Outstanding Bonds on the earliest redemption date next succeeding the closing date, including, without limitation, principal and interest to accrue to said redemption date and redemption expense; plus (b) an amount of money equal to the Trustee’s and the Paying Agent’s agreed to and reasonable fees and expenses under the Indenture accrued and to accrue until such redemption of the Bonds; plus (c) an amount of money equal to the Issuer’s costs, expenses, including reasonable attorney’s fees, related to conveying the Project to the Tenant; plus (d) the sum of $100.

Option to Purchase the Project. The Company Tenant shall have, and is hereby granted, the option to purchase the Project at any time, 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 Tenant (or the Bank, if acting on behalf of the Tenant after an event of default under the Reimbursement Agreement) shall give written notice to the City Issuer and to the Trustee, if any, 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 45 nor more than 180 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 Company shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Company Tenant in the event of its exercise of the option granted in this Section shall be the sum of the following: (a) an the full amount which is required to provide the Issuer and the Trustee with funds sufficient, in accordance with the terms of money whichthe Indenture, when added to pay at maturity or to redeem and pay in full (i) the principal of all of the Outstanding Bonds, (ii) all interest due thereon to the amount then on deposit date of maturity or redemption, which ever first occurs, and (iii) all costs, expenses and premiums incident to the redemption and payment of the Bonds in the Bond Fund, will be sufficient to redeem all the then Outstanding Bonds on the earliest redemption date next succeeding the closing date, including, without limitation, principal and interest to accrue to said redemption date and redemption expense; plusfull; (b) an amount of money equal to the Issuer's, Trustee’s 's, and the Paying Agent’s agreed to and other reasonable professional fees and expenses under the Indenture and this Lease accrued and to accrue until such redemption of the Bonds; plus; (c) an amount of money equal to the Bank's reasonable fees and expenses under the Financing Documents; and (d) the sum of $1001,000.

Option to Purchase the Project. The Company shall have, and is hereby granted, the option to purchase the Project at any time, time prior to the expiration of the term of this Lease Term Agreement upon payment in full and discharge of all Bonds then Outstanding or provision for their payment having been made pursuant to Article XIII X of the Bond Indenture. To exercise such option the Company shall give written notice to the City Issuer and to the Bond Trustee, if any, 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 Bond Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than 30 45 nor more than 180 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 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: (a) an the full amount which is required to provide the Issuer and the Bond Trustee with funds sufficient, in accordance with the terms of money whichthe Bond Indenture, when added to pay at maturity or to redeem and pay in full (A) the principal of all of the Outstanding Bonds, (B) all interest due thereon to date of maturity or redemption, which ever first occurs, and (C) all costs, expenses and premiums incident to the amount then on deposit redemption and payment of the Bonds in the Bond Fundfull, will be sufficient to redeem all the then Outstanding Bonds on the earliest redemption date next succeeding the closing date, including, without limitation, principal and interest to accrue to said redemption date and redemption expense; plus (b) an amount of money equal to the Issuer’s, Bond Trustee’s and the Paying Agent’s agreed to and reasonable fees and expenses under the Bond Indenture and this Lease Agreement accrued and to accrue until such redemption of the Bonds; plus (c) the sum of $100.

Option to Purchase the Project. The Company Corporation 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 ARTICLE XIII of the Indenture. To exercise such option the Company Corporation shall give written notice to the City 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 Corporation shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Company Corporation in the event of its exercise of the option granted in this Section shall be the sum of the following: (a) an amount of money which, when added to the amount then on deposit in the Bond Fund, will be sufficient to redeem all the then Outstanding Bonds on the earliest redemption date next succeeding the closing date, including, without limitation, principal and interest to accrue to said redemption date and redemption expense; plus (b) an amount of money equal to the Trustee’s 's and the Paying Agent’s 's agreed to and reasonable fees and expenses under the Indenture accrued and to accrue until such redemption of the Bonds; plus (c) the sum of $100.