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.
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 (the "Option to Purchase"), in the event that, following Close of Escrow, there is an Event of Default and such Event of Default occurs prior to issuance of a Certificate of Completion for the Improvements.
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.
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.
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
Option to Repurchase, Reenter and Repossess. (a) Following the close of escrow, if this Agreement is terminated pursuant to Section 7.4 and such termination occurs prior to issuance of a Certificate of Occupancy for the Improvements, the City shall have the additional right at its option to repurchase, reenter and take possession of any portion of the Dealership Development Parcel or Swap Parcel then owned by the Developer with all Improvements thereon. From and after the issuance of a Certificate of Occupancy for the Improvements and the recordation of the Notice of Completion, the remedies set forth in this Section 7.6 shall no longer be available to the City under any circumstances. The recordation of the Notice of Completion shall be conclusive evidence that the rights under this Section 7.6 have been terminated.
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.
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.
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.
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:
