OPTION TO PURCHASE THE PROPERTY Sample Clauses

OPTION TO PURCHASE THE PROPERTY. Option to Purchase the Property. Tenant shall have the option to purchase the property after the first 3 years of the lease. Tenant must not be in default to exercise this option after the third year. Purchase Price of the property, if option is exercised by the Tenant will be the cost of the property to the Landlord, plus closing costs at the time of closing, plus the increase in the Consumer Price Index from January 1, 1999, the beginning of the Lease. Tenant must notify Landlord by certified mail, if they chose this option to purchase the property and of the terms and conditions.
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OPTION TO PURCHASE THE PROPERTY. The “Option to Purchase the Property” Section on page 27 of the Lease is hereby deleted in its entirety.
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OPTION TO PURCHASE THE PROPERTY. Option to Purchase the Property. Tenant shall have the option to purchase the property after the first [Illegible] years of the lease. Tenant must not be in default to exercise this option after the [Illegible] year. Purchase Price of the property, if option is exercised by the Tenant will be the cost of the property to the Landlord, plus closing costs at the time of closing. Landlord purchase price plus the increase in the Consumer Price Index from [Illegible], the beginning of the Lease. Tenant must notify Landlord by certified mail, if they chose this option to purchase the property.
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OPTION TO PURCHASE THE PROPERTY. Option to Purchase the Property. Tenant shall have the option to purchase the property after the first three years of the lease. Tenant must not be in default to exercise this option after the third year. Purchase Price of the property, if option is exercised by the Tenant, it will be the original cost of the property to the Landlord, plus original closing costs at the time of closing. Tenant must notify Landlord by certified mail, if they exercise this option to purchase the property. In addition, purchase price will be increased by the total amount of the increase in the Consumer Price Index from May 1, 1999 until the date of closing of the sale of the property. Tenant agrees to pay for any and all closing costs including all repairs, real estate taxes and assessments. This includes title insurance, documentary stamps on deed, but not limited to these items. ATTORNEY FEES AND COSTS
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OPTION TO PURCHASE THE PROPERTY. Owner grants to Lessee the option to purchase the Property (the “Option to Purchase”) that includes all the Mineral Rights, Advanced Royalty Payments, Royalty and Royalty Rights to the Property, subject to the conditions set forth in this Section 5. The Option to Purchase Price and terms are defined as follows and further described in Exhibit C: On or Prior to the 5th Anniversary of the Effective Date: Cash Payment of Five Million Dollars ($5,000,000.00) After the 5th Anniversary of the Effective Date: Cash Payment of Ten Million Dollars ($10,000,000.00)
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OPTION TO PURCHASE THE PROPERTY. The City is hereby exercising its option to purchase the Property as set forth in the original Interlocal Agreement.
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OPTION TO PURCHASE THE PROPERTY. 11.1 The Proponent shall grant the City an Option to Purchase the Property in accordance with Schedule “A” for a term of twenty-five (25) years, exercisable upon an Event of Default under Section 10.1 of this Agreement or a transfer or assignment of the Proponent’s interest in the Property pursuant to Sections 14.2 (b) and 17.12. 11.2 The Proponent hereby consents to the City’s registration of a Notice of Option to Purchase against title to the Property, in first priority.
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OPTION TO PURCHASE THE PROPERTY 
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Related to OPTION TO PURCHASE THE PROPERTY

  • Option to Purchase Subject to Section 3.5, the Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to purchase any or all owned Bank Premises, including all Furniture, Fixtures and Equipment located on the Bank Premises. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date. If the Assuming Institution gives notice of its election not to purchase one or more of the owned Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for such Bank Premises and associated Fixtures, Furniture and Equipment.

  • Option to Build If the dates designated by Developer are not acceptable to Connecting Transmission Owner, the Connecting Transmission Owner shall so notify the Developer and NYISO within thirty (30) Calendar Days, and unless the Developer and Connecting Transmission Owner agree otherwise, Developer shall have the option to assume responsibility for the design, procurement and construction of Connecting Transmission Owner’s Attachment Facilities and Stand Alone System Upgrade Facilities on the dates specified in Article 5.1.2; provided that if an Attachment Facility or Stand Alone System Upgrade Facility is needed for more than one Developer’s project, Developer’s option to build such Facility shall be contingent on the agreement of all other affected Developers. NYISO, Connecting Transmission Owner and Developer must agree as to what constitutes Stand Alone System Upgrade Facilities and identify such Stand Alone System Upgrade Facilities in Appendix A hereto. Except for Stand Alone System Upgrade Facilities, Developer shall have no right to construct System Upgrade Facilities under this option.

  • Purchase Price (a) The purchase price to be paid by Buyer to Seller at the Closing will be $8,300,000 U.S. (as adjusted by Section 3.1(e), Section 6.3 and Section 8.11 (the “Purchase Price”). Seller may instruct Buyer to pay a part of the Purchase Price directly to the Secured Debt Lender and/or other Lenders in order to obtain a release of the Liens held by the Secured Debt Lender and/or other Lenders, respectively, on the Acquired Assets. (b) In addition to the payment of the Purchase Price, at the Closing, Buyer (or its designated Affiliate) shall assume the Assumed Liabilities pursuant to the Assumption Agreement. Other than the Assumed Liabilities, Buyer shall not assume any Liabilities or obligations of Seller. (c) Seller will bear the cost of any documentary, stamp, sales, value added, transfer, excise or other Taxes (if any) payable in respect of the sale and transfer of the Acquired Assets, including any such Taxes payable under the Texas Tax Code or Texas Administration Code. (d) Upon execution of the Prior Agreement, Buyer advanced Seller the sum of $1,300,000 U.S. The advance of such amount was conditioned upon Seller’s execution of the Promissory Note in the form attached as Exhibit D-1 to the Prior Agreement and the Security Agreement in the form attached as Exhibit D-2 to the Prior Agreement providing Buyer a security interest in the following: (the “Prior Collateral”) (i) four petroleum storage tanks, having approximately 290,000 barrels total capacity along with Seller’s associated property leased from the BND in Brownsville, Texas pursuant to BND Lease No. 3165, as amended, and associated access to a 12 inch pipeline header to public docks at the Port of Brownsville (the “Petroleum Tanks”), and (ii) six LPG storage tanks (Tanks #400, 401, 500, 501, 502, 503) having approximately 300,000 gallons total capacity, located upon Seller’s property leased from the BND in Brownsville, Texas pursuant to BND Lease No. 2823, as amended, (the “LPG Tanks”). (e) Upon the Closing of this Agreement, the Seller will reduce the principal amount of the Promissory Note by $300,000, said amount to be a reduction in the Purchase Price, and Parties agree to (i) substitute the eight inch (8”) pipeline included in the Pipeline Assets (the “New Collateral”) for the Prior Collateral, (ii) amend the Promissory Note in the form of Exhibit D-1(Amended) in order to, among other things, extend the repayment schedule of the advance of the remaining principal of $1,000,000 to one year after the Date of Closing and (iii) amend the Security Agreement in the form of the attached Exhibit D-2 (Amended) to extend the security interest in said agreement to the New Collateral described hereinabove. Upon Closing, Seller will repay the Secured Debt Lenders such amount as will cause them to release any and all Liens they may hold with respect to the Prior Collateral and the New Collateral and Seller will take the necessary steps to have the Secured Debt Lenders to do the same. (f) The Prior Collateral will be specifically included within the Brownsville Terminal Assets conveyed to Buyer. Upon payment of the amended Promissory Note in full, Buyer shall xxxx the Promissory Note “Paid In Full,” return such Promissory Note to Seller and release its security interest in the New Collateral and provide Seller with appropriate documentation of such release in recordable form. If Closing does not occur under this Agreement for any reason, then Seller, at Seller’s sole option, will either: (i) promptly provide Buyer with a xxxx of sale conveying all right and title to the Prior Collateral to Buyer and assignment of the BND Lease No. 3165 (with the consent by BND to the assignment and subordination of BND’s Liens on the Petroleum Tanks) and Seller shall thereafter lease the Petroleum Tanks and LPG Tanks from Buyer on a month to month basis, at a monthly lease fee of $10,000, until such time that Seller repurchases the Petroleum Tanks and LPG Tanks from Buyer by paying Buyer the amount of $1,300,000 in which event Buyer will promptly provide Seller with a xxxx of sale conveying all right and title to the LPG Tanks and Petroleum Tanks (including an assignment of BND Lease No. 3165) to Seller; or (ii) pay Buyer the amount due under the Promissory Note and Buyer will promptly provide Seller with the necessary documentation to provide for the release of the security interest on the Prior Collateral and cancellation of the Promissory Note.

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