Prepayment of Rentals; Option To Purchase Sample Clauses

Prepayment of Rentals; Option To Purchase. The County may, at any time on any payment date, at its option, elect by not less than 15 business days’ notice to the Bondholder and the Authority, make prepayments of the principal component of Basic Rent in whole, or in part, at any time without any prepayment penalty in an amount equal to the principal component of Basic Rent so prepaid and any interest accrued on the amount prepaid to the redemption or prepayment date is so paid. The Bondholder shall apply the amounts so prepaid in such manner as shall be consistent with the provisions hereof to redeem, prepay or defease the Bonds so prepaid. Any such prepayments of principal components of Basic Rent paid plus interest accrued to the redemption or prepayment date and such prepayment penalty shall be considered as Additional Rent hereunder.
Sample 1
AutoNDA by SimpleDocs
Prepayment of Rentals; Option To Purchase. The County may, at any time, at its option, elect by not less than 15 business days’ notice to the Bondholder and the Authority, make prepayments of the principal component of Basic Rent without any prepayment penalty and in an amount equal to the principal component of Basic Rent so prepaid and any interest accrued on the amount prepaid to the redemption or prepayment date is so paid. The Bondholder shall apply the amounts so prepaid in such manner as shall be consistent with the provisions hereof to redeem, prepay or defease the Bond. Any such prepayments of principal components of Basic Rent paid plus interest accrued to the redemption or prepayment date and such prepayment penalty shall be considered as Additional Rent hereunder.
Sample 1
Prepayment of Rentals; Option To Purchase. The County may, on any date on or after November 1, 2029, at its option, elect by not less than 15 business days’ notice to the Bondholder and the Authority, make prepayments of the principal component of Basic Rent on the Bond in whole only, consisting of an amount equal to the principal component of Basic Rent so prepaid and any interest accrued on the amount prepaid to the redemption or prepayment date is so paid. Any such prepayment of principal components of Basic Rent paid plus interest accrued to the redemption or prepayment date and such prepayment penalty, if any, shall be considered as Additional Rent hereunder.
Sample 1

Related to Prepayment of Rentals; Option To Purchase

  • 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 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.

Time is Money Join Law Insider Premium to draft better contracts faster.