Option to Repurchase, Reenter and Repossess Sample Clauses

Option to Repurchase, Reenter and Repossess. (a) The County has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer with all improvements thereon, if after conveyance of title to any portion of the Property and prior to the issuance of the Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 7.4. (b) Such right to repurchase, reenter and repossess, to the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: Agreement; or (1) Any Approved Security Interest Assignment permitted by this (2) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests. (c) To exercise its right to repurchase, reenter and take possession with respect to the Property owned by the Developer, the County must pay to the Developer in cash an amount equal to: the Property; plus (1) The purchase price paid to the County for the applicable portion of (2) The fair market value of the improvements existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession; less (3) Any gains or income withdrawn or made by the Developer from the applicable portion of the Property or the improvements thereon; less (4) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the County assumes or takes subject to said encumbrances.
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Option to Repurchase, Reenter and Repossess. (a) The City shall have the additional right at its option to repurchase, reenter, and take possession of the Property if the Developer does not construct improvements that meet the standards set forth in Article 5. (b) Such right to repurchase, reenter, and repossess, to the extent provided in this Agreement, shall be subordinate and subject to and be limited by and shall not defeat, render invalid, or limit any Security Financing Instrument with respect to the Property; or any rights or interests provided in this Agreement for the protection of the holder of a Security Financing Interest with respect to the Property, provided that the Permitted Mortgagee has elected to complete the Project in a manner provided in this Agreement. (c) To exercise its right to repurchase, reenter and take possession with respect to the Property not subject to (i) Certificate of Completion or (ii) a current building permit, the City shall pay to the applicable Developer in cash an amount equal to any payments made by the Developer to the City in cash pursuant to Sections 2.2 of this Agreement, plus the lesser of the (1) actual cost and (2) the fair market value of the improvements constructed on the Property subject to the Option by the Developer at the time of the repurchase, reentry, and repossession, less any gains or income withdrawn or made by the Developer from the portion of the Property subject to the Option, less the amount of any liens or encumbrances on the portion of the Property subject to the Option which the City assumes or takes subject to, less any damages to which the City is entitled under this Agreement by reason of the Developer Event of Default.
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Option to Repurchase, Reenter and Repossess. (a) The City shall have the additional right at its option to repurchase, reenter, and take possession of the Property not subject to (i) an Estoppel Certificate of Completion or (ii) a current building permit for Vertical Improvements that are subject to a Vertical Improvement Completion Assurance with all improvements thereon, if this Agreement is terminated pursuant to Section 14.4(b)(2) after the Phase 1 Closing Date and prior to the time when the applicable Developer Affiliate is entitled to issuance of an Estoppel Certificate of Completion for the final Phase of the Project. The City's rights under this Section 14.6 shall terminate and be of no further force and effect once the Developer is entitled to an Estoppel Certificate of Completion for the final Phase of the Project. (b) Such right to repurchase, reenter, and repossess, to the extent provided in this Agreement, shall be subordinate and subject to and be limited by and shall not defeat, render invalid, or limit any Security Financing Instrument with respect to the Property; or any rights or interests provided in this Agreement for the protection of the holder of a Security Financing Interest with respect to the Property, provided that the Permitted Mortgagee has elected to complete the Project in a manner provided in this Agreement. (c) To exercise its right to repurchase, reenter and take possession with respect to the Property not subject to (i) an Estoppel Certificate of Completion or (ii) a current building permit for Vertical Improvements that are subject to a Vertical Improvement Completion Assurance, the City shall pay to the applicable Developer Affiliate in cash an amount equal to any payments made by the Developer Affiliate to the City in cash pursuant to Sections 2.2 of this Agreement, plus the lesser of the (1) actual cost and (2) the fair market value of the improvements constructed on the Property subject to the Option by the Developer Affiliate at the time of the repurchase, reentry, and repossession, less any gains or income withdrawn or made by the Developer Affiliate from the portion of the Property subject to the Option, less the amount of any liens or encumbrances on the portion of the Property subject to the Option which the City assumes or takes subject to, less any damages to which the City is entitled under this Agreement by reason of the Developer Event of Default.
Sample 1
Option to Repurchase, Reenter and Repossess. (a) The County shall have the additional right at its option to repurchase, reenter and take possession of the Property, with all improvements thereon, if after conveyance of title to the Property, and prior to the issuance of the Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 6.4 with respect to the construction of the Improvements or portion thereof, unless prior to the County’s exercise of its remedies pursuant to Developer Default under this Section 6.4(d), the Developer has satisfied the precondition, commenced or completed construction, or renewed construction after a suspension (b) To exercise its right to repurchase, reenter and take possession, the County shall pay to the Developer in cash an amount equal to the Purchase Price paid to the County. Upon vesting in the County of title to all or a portion of the Property, the County shall promptly use its best efforts to resell it, subject to a requirement that the Property be developed in accordance with this Agreement. Upon any resale of the Property or portion thereof by the County, the County shall apply such sale proceeds as follows: To the Developer, the fair market value of any improvements existing on the Property at the time of the repurchase, reentry and repossession; less Any gains or income withdrawn or made by the Developer from the Property or the improvements thereon; less The value of any unpaid liens or encumbrances on the Property which the County assumes or takes subject to said encumbrances.
Sample 1
Option to Repurchase, Reenter and Repossess. The Town shall have the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by Grantee with all Improvements thereon, if there is an uncured Event of Default. The rights of the Town under this Option to Repurchase shall be subject to the rights, be limited by and shall not defeat, render invalid or limit any approved security interest permitted by this Agreement or the rights or interests provided in this Agreement for the protection of the holder of such approved security interests. To exercise its right to repurchase, reenter and take possession with respect to the Property, the Town shall pay to the Grantee, in cash an amount equal to the fair market value of the Improvements existing on the Property, at the time of the repurchase, reentry and repossession less: (i) any gains or income withdrawn or made by the Grantee from the Property and (ii) the value of any unpaid liens or encumbrances on the Property, which the Town assumes or takes subject to said encumbrances.
Sample 1
Option to Repurchase, Reenter and Repossess. (a) The City has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer with all Development thereon, if following Close of Escrow and prior to the issuance of the Certificate of Completion for the Development, there is a Developer Event of Default under Section 8.4 and Section 8.5. (b) Such right to repurchase, reenter and repossess, to the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: (1) Any Security Financing Interest permitted by this Agreement; or (2) Any rights or interest provided in this Agreement for the protection of the holder of such Security Financing Interests. (c) To exercise its right to repurchase, reenter and take possession with respect to the Property owned by the Developer, the City must pay to the Developer in cash an amount equal to: (1) The purchase price paid to the City for the applicable portion of the Property; plus (2) The fair market value of the Development existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession as determined by an appraisal conducted by an MAI appraiser; less (3) Any gains or income withdrawn or made by the Developer from the applicable portion of the Property or the Development thereon; less (4) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the City assumes or takes subject to said encumbrances.
Sample 1
Option to Repurchase, Reenter and Repossess. The Agency shall have the additional right at its option to repurchase, reenter, and take possession of the Property owned by the Developer with all improvements thereon, if this Agreement is terminated pursuant to Section 10.4 after the Closing and prior to the time when the Developer is entitled to issuance of a Development Certificate of Completion. The Agency's rights under this Section 10.6 shall terminate and be of no further force and effect with respect to a particular portion of the Property transferred in accordance with the terms of this Agreement, but shall remain in effect for the remainder of the Property owned by the Developer. To exercise its right to repurchase, reenter and take possession with respect to the Property owned by the Developer, the Agency shall pay to the Developer in cash an amount equal to: the portion of the Purchase Price for the Property paid by the Developer to the Agency in cash (pro-rated to reflect the transfer, if any, of any portion of the Property in compliance with Articles 7 and 8 of this Agreement) plus the lesser of (1) the actual cost and (2) the fair market value of the improvements existing on the Property at the time of the repurchase, reentry, and repossession, less any gains or income withdrawn or made by the Developer from the Property or the improvements thereon, less the amount of any liens or encumbrances on the Property which the Agency assumes or takes subject to, less any damages to which the Agency is entitled under this Agreement by reason of the Developer's default.
Sample 1
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Option to Repurchase, Reenter and Repossess. (1) The City shall have the additional right at its option to repurchase, reenter and take possession of the Project Site or any portion thereof owned by the Developer with all improvements thereon, prior to the issuance of the Certificate of Completion for the Improvements, if there is a Developer Event of Default pursuant to Section 11.03. (2) Such right to repurchase, reenter and repossess, to the extent provided in this Agreement, shall be subordinate and subject to and be limited by and shall not defeat, render invalid or limit: (a) Any Approved Security Interest permitted by this Agreement; or (b) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests. (3) To exercise its right to repurchase, reenter and take possession with respect to the Project Site owned by the Developer, the City shall pay to the Developer in cash an amount equal to: (a) Two Dollars ($2.00); plus (b) The fair market value of the improvements existing on the applicable portion of the Project Site at the time of the repurchase, reentry and repossession; less (c) Any gains or income withdrawn or made by the Developer from the applicable portion of the Project Site or the improvements thereon; less (d) The value of any unpaid liens or encumbrances on the applicable portion of the Project Site which the City assumes or takes subject to said encumbrances.
Sample 1
Option to Repurchase, Reenter and Repossess. Agency shall have the additional right, at Agency’s option, to repurchase, reenter, and take possession of all portions of the Property currently owned by the Developer with all improvements thereon if after Closing to the Property and prior to the issuance of the final Certificate of Completion of the Project therefore Developer shall: (1) fail to proceed with the construction of the improvements in the applicable phase of the Project [in accordance with the Phasing Plan] for a period of sixty (60) days after written notice thereof from Agency; or (2) abandon or substantially suspend construction of the improvements in the applicable phase of the Project [in accordance with the Phasing Plan] for a period of sixty (60) days after written notice of such abandonment or suspension from Agency; or (3) transfer, except transfer of individual parcels upon completion of improvements thereon, or suffer any involuntary transfer of the Property or any part thereof in violation of this Agreement. Such right to repurchase, reenter, and repossess, to the extent provided in this Agreement, shall be subordinate and subject to and be limited by and shall not defeat, render invalid, or limit: (1) any mortgage, deed of trust, or other security instrument or sale and leaseback or other conveyance for financing permitted by this Agreement; or (2) any rights or interests provided in this Agreement for the protection of the holder of such mortgages, deeds of trust, or other security instruments, the lessor under a sale and leaseback, or the grantee under such other conveyance for financing. To exercise its rights to repurchase, reenter, and take possession with respect to the Site, Agency shall pay to Developer in cash an amount equal to ninety-five percent (95%) of the Purchase Price outlined in Section 5.1, less expenses incurred by the Agency in connection with the repurchase, and a prorated portion of the land value equal to all parcels transferred prior to repurchase.
Sample 1

Related to Option to Repurchase, Reenter and Repossess

  • Right to Require Repurchase 66 SECTION 12.02. Conditions to the Company's Election to Pay the Repurchase Price in Common Stock.......................... 67 SECTION 12.03. Notices; Method of Exercising Repurchase Right, Etc......... 67 SECTION 12.04.

  • OPTION TO RENEW Provided Tenant is not, and has not been (more than two (2) times), in default under any of the terms and conditions contained herein, Tenant shall have two (2) additional consecutive five (5) year options to renew and extend the Rental Term as provided herein (“Option”). The Option shall only be exercised by Tenant delivering written notice thereof to Landlord no earlier than the date which is twelve (12) months prior to the expiration of the Rental Term and no later than the date which is nine (9) months prior to the expiration of the Rental Term (the “Option Notice”). The Base Monthly Rent during the first year of each extension periods shall be the lesser of: (i) the then current Fair Market Rate (as defined) for comparable space within the Project, and (ii) the Base Monthly Rent then in effect for the Leased Premises during the last month of the initial Rental Term (increasing each year thereafter by 3%, compounded). “Fair Market Rate” means the market rate for rent chargeable for the Leased Premises based upon the following factors applicable to the Leased Premises or any comparable premises: rent, escalation, term, size, expense stop, tenant allowance, existing tenant finishes, parking availability, and location and proximity to services. Within thirty (30) days of Option Notice, Tenant shall notify Landlord of Tenant’s option of Fair Market Rate for the applicable renewal period. If Landlord disagrees with Tenant’s opinion of the Fair Market Rate, Landlord shall notify Tenant of Landlord’s opinion of Fair Market Rate within fifteen (15) days after receipt of Tenant’s opinion of Fair Market Rate (“Landlord’s Value Notice”). If the parties are unable to resolve their differences within thirty (30) days thereafter, Landlord or Tenant, at its sole option, may terminate this Lease, effective as of the last day of the then-current Rental Term. Alternatively, Tenant and Landlord may mutually agree to submit the determination of Fair Market Rate to a “Market Assessment Process,” as provided in Exhibit “F” – Market Assessment Process.

  • Landlord’s Option to Repair Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or Project, in which event this Lease shall terminate, by notifying Tenant in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice will include a termination date giving Tenant sixty (60) days to vacate the Premises, but this Lease may be so terminated Landlord may so elect only if the Building or Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred eighty (180) days after the date of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or Project or ground lessor with respect to the Building or Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground lease, as the case may be; (iii) the damage is not fully covered by Landlord’s insurance policies or that portion of the proceeds from Landlord’s insurance policies allocable to the Building or the Project, as the case may be; (iv) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; (v) the damage occurs during the last twelve (12) months of the Lease Term; or (vi) any owner of any other portion of the Project, other than Landlord, does not intend to repair the damage to such portion of the Project; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, be completed within two hundred seventy (270) days after being commenced, or (b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant.

  • Right to Redeem The Board of Directors of the Company may, at its option, at any time prior to a Trigger Event, redeem all but not less than all of the then outstanding Rights at a redemption price of $.01 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (such redemption price being hereinafter referred to as the "Redemption Price"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish.

  • Retention or Repurchase of Assets Essential to Receiver (a) The Receiver may refuse to sell to the Assuming Institution, or the Assuming Institution agrees, at the request of the Receiver set forth in a written notice to the Assuming Institution, to assign, transfer, convey, and deliver to the Receiver all of the Assuming Institution's right, title and interest in and to, any Asset or asset essential to the Receiver as determined by the Receiver in its discretion (together with all Credit Documents evidencing or pertaining thereto), which may include any Asset or asset that the Receiver determines to be: (i) made to an officer, director, or other Person engaging in the affairs of the Failed Bank, its Subsidiaries or Affiliates or any related entities of any of the foregoing; (ii) the subject of any investigation relating to any claim with respect to any item described in Section 3.5(a) or (b), or the subject of, or potentially the subject of, any legal proceedings; (iii) made to a Person who is an Obligor on a loan owned by the Receiver or the Corporation in its corporate capacity or its capacity as receiver of any institution; (iv) secured by collateral which also secures any asset owned by the Receiver; or (v) related to any asset of the Failed Bank not purchased by the Assuming Institution under this Article III or any liability of the Failed Bank not assumed by the Assuming Institution under Article II. (b) Each such Asset or asset purchased by the Receiver shall be purchased at a price equal to the Repurchase Price thereof less the Related Liability Amount with respect to any Related Liabilities related to such Asset or asset, in each case determined as of the date of the notice provided by the Receiver pursuant to Section 3.6(a). The Receiver shall pay the Assuming Institution not later than the twentieth (20th) Business Day following receipt of related Credit Documents and Credit Files together with interest on such amount at the Settlement Interest Rate for the period from and including the date of receipt of such documents to and including the day preceding the day on which payment is made. The Assuming Institution agrees to administer and manage each such Asset or asset in accordance with usual and prudent banking standards and business practices until each such Asset or asset is purchased by the Receiver. All transfers with respect to Asset or assets under this Section 3.6 shall be made as provided in Section 9.6. The Assuming Institution shall transfer all such Asset or assets and Related Liabilities to the Receiver without recourse, and shall indemnify the Receiver against any and all claims of any Person claiming by, through or under the Assuming Institution with respect to any such Asset or asset, as provided in Section 12.4.

  • Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts As a condition precedent to the execution and delivery, registration of transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the Company may require payment to it of a sum sufficient for the payment (or, in the event that the Depositary or the Company shall have made such payment, the reimbursement to it) of any charges or expenses payable by the holder of a Receipt pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature and may also require compliance with such regulations, if any, as the Depositary or the Company may establish consistent with the provisions of this Deposit Agreement and/or applicable law. The deposit of Stock may be refused, the delivery of Receipts against Stock may be suspended, the registration of transfer of Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is closed or (ii) if any such action is deemed necessary or advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental body or commission or under any provision of this Deposit Agreement.

  • Form of Receipts Deposit of Shares Execution and Delivery Transfer and Surrender of Receipts SECTION 2.01. FORM AND TRANSFERABILITY OF RECEIPTS. SECTION 2.02. DEPOSIT OF SHARES. SECTION 2.03.

  • Right to Refuse Unsafe Work Employees have the right to refuse to perform unsafe work pursuant to the Occupational Health and Safety Regulations of the Workers Compensation Act.

  • Liability for Failure to Stop Payment of Preauthorized Transfers If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

  • Right to Refuse to Cross Picket Lines (a) All employees covered by this Agreement shall have the right to refuse to cross a picket line arising out of a dispute as defined in the appropriate legislation. Any employees failing to report for duty shall be considered to be absent without pay. (b) Failure to cross a picket line encountered in carrying out the Employer's business shall not be considered a violation of this Agreement nor shall it be grounds for disciplinary action.

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