Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section 20.1 and Section 20.2 (collectively, the "Return Conditions"), the Lessee shall have the option (the "Remarketing Option") to remarket and complete the sale of all of the Properties for the Lessor Trust. The Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions and the provisions of Section 20.2 as to each of the Properties as of the dates set forth below.
(a) Unless a longer period is called for pursuant to any Requirement of Law, on the date not later than three hundred sixty-five (365) days prior to the Expiration Date, the Lessee shall give to the Agent Certificate Holder and the Administrative Agent written notice of the Lessee's exercise of the Remarketing Option.
(b) Not later than one hundred and twenty (120) days prior to the Expiration Date, the Lessee shall deliver to the Agent Certificate Holder an Environmental Audit for each Property. Such Environmental Audit shall be prepared by an environmental consultant selected by the Agent Certificate Holder in the Agent Certificate Holder's discretion and shall contain conclusions satisfactory to the Agent Certificate Holder as to the environmental status of each Property. If any such Environmental Audit indicates any exceptions calling for a Phase Two environmental assessment, the Lessee shall have also delivered prior to the Expiration Date a Phase Two environmental assessment by such environmental consultant and a written statement by such environmental consultant indicating that all such exceptions have been remedied in compliance with Applicable Law.
(c) On the date of the Lessee's notice to the Agent Certificate Holder of the Lessee's exercise of the Remarketing Option, no Lease Event of Default or Lease Default shall exist, and, thereafter, no Lease Event of Default or Lease Default shall occur.
(d) The Completion Date shall have occurred with respect to each Property prior to the Lessee's delivery of notice of its intention to exercise the Remarketing Option, and each parcel of Land subject to any ground lease shall be a separate tax lot.
(e) The Lessee shall have substantially completed all Modifications, restoration and rebuilding of the relevant Properties pursuant to Sections 10.1 and 14.1 (as the case may be) and shall have fulfilled all of the conditions and requirements in connection therewith pursuant to su...
Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section, Lessee shall have the option (the "Remarketing Option") to market the Leased Property for Lessor and to procure a purchaser therefor. Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions, the failure of any of which shall render the Remarketing Option and Lessee's exercise thereof null and void, in which event, Lessee shall be obligated to perform its obligations under Section 15.2 "Purchase Obligation":
Option to Remarket. 28 Section 14.7 Rejection of Sale ..................................... 30 Section 14.8 Return of Leased Property ............................. 30 Section 14.9 Renewal................................................ 31 Section 14.10 Environmental Report................................... 32 ARTICLE XV
Option to Remarket. The Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions as to the Property as of the dates set forth below.
(a) Not later than one hundred eighty (180) days prior to the Expiration Date, the Lessee shall give to the Lessor written notice of the Lessee's exercise of the Remarketing Option, which exercise shall be irrevocable. If Lessee does not deliver a notice of its intention not to renew this Lease as provided in Section 23.1 and fails to timely provide the Remarketing Notice, then this Lease shall be renewed for a Renewal Term as provided in Section 23.
Option to Remarket. 27 SECTION 15.7
Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section 20.1 and Section 20.2 (collectively, the “Return Conditions”), the Lessee shall have the option (the “Remarketing Option”) to remarket and complete the sale of all (but not less than all) of the Properties then subject to this Master Lease on the Expiration Date for the Lessor. The Lessee’s effective exercise and consummation of the Remarketing Option shall be Tandem Health Care of Ohio, Inc. Master Lease subject to the due and timely fulfillment of each of the following provisions and the provisions of Section 20.2 as to each of the Properties as of the dates set forth below.
(a) Unless a longer period is called for pursuant to any Requirement of Law, on the date not later than three hundred sixty (360) days prior to the Expiration Date, the Lessee shall give to the Lessor and the Administrative Agent written notice of the Lessee’s exercise of the Remarketing Option.
(b) Not later than one hundred and twenty (120) days prior to the Expiration Date, the Lessee shall deliver to the Lessor an Environmental Audit for each Property. Such Environmental Audit shall be prepared by an environmental consultant selected by the Lessor in the Lessor’s discretion and shall contain conclusions satisfactory to the Lessor as to the environmental status of each Property. If any such Environmental Audit indicates any exceptions calling for a Phase Two environmental assessment, the Lessee shall have also delivered prior to the Expiration Date a Phase Two environmental assessment by such environmental consultant and a written statement by such environmental consultant indicating that all such exceptions have been remedied in compliance with Applicable Law.
(c) On the date of the Lessee’s notice to the Lessor of the Lessee’s exercise of the Remarketing Option, no Lease Event of Default or Lease Default shall exist, and, thereafter, no Lease Event of Default or Lease Default shall occur.
(d) [Intentionally Omitted].
(e) The Lessee shall have substantially completed all Modifications, restoration and rebuilding of the relevant Properties pursuant to Sections 10.1 and 14.1 hereof (as the case may be) and shall have fulfilled all of the conditions and requirements in connection therewith pursuant to such Sections, in each case prior to the date on which the Lessor receives the Lessee’s notice of the Lessee’s intention to exercise the Remarketing Option (time being of the essence), regardless of whether ...
Option to Remarket. The text of Subparagraph I of Section 41.6 is ------------------ hereby deleted and replaced with the following: "All Alterations described in the Second Consent Agreement are completed prior to the Expiration Date in accordance with the Second Consent Agreement and Section 8 hereof; all other Alterations commenced at any time during or before the Fixed Term are completed prior to the Expiration Date in accordance with Section 8 hereof; and any Restoration (in the event of a Taking or any casualty or other damage or destruction) is completed before the Expiration Date."
Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section 24.1, the Lessee shall have the option beginning on the second anniversary of the Start-Up Day (the "Remarketing Option") to market and complete the sale of the Property for the Lessor. The Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions as to the Property as of the dates set forth below.
Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section 20.1 and in Section 20.2 (such conditions, collectively, the "Return Conditions"), the Lessee shall have the option (the "Remarketing Option") to market all (but not less than all) of the Property subject to this Lease on behalf of the Lessor.
Option to Remarket. 27 SECTION 20.2. Conveyance upon Remarketing................... 29 SECTION 20.3.
