Common use of Provisions Relating to Lessee's Exercise of its Purchase Option Clause in Contracts

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.1, or in connection with Lessee’s exercise of its Purchase Option or its option to purchase any Property pursuant to Section 20.1, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any Pool, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) or 20.1, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s designee) at Lessee’s cost and expense a special warranty deed and quit claim xxxx of sale with respect to the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “AS IS” “WHERE IS” and in then present physical condition. In addition, Lessor shall, upon Lessee’s request and at Lessee’s expense, execute and deliver any documents (including any appropriate releases of or amendments to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable Property.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.116.2, or in connection with Lessee’s 's exercise of its Purchase Option or its option to purchase any a Property pursuant to Section 20.1, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any PoolProperties, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) ), 20.1 or 20.120.2, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s 's designee) at Lessee’s 's cost and expense a special warranty deed and quit claim xxxx an assignment of sale with respect to Lessor's entire interest in the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “"AS IS” “" "WHERE IS” " and in then present physical condition. In addition, Lessor shall, upon Lessee’s 's request and at Lessee’s 's expense, execute and deliver any documents (including any appropriate releases of or amendments to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable Property.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property all the Properties pursuant to the terms of Section 16.116.2, or in connection with Lessee’s 's exercise of its Purchase Option or its option to purchase any Property pursuant to Section 20.1Option, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any PoolProperties, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) or 20.120.2, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s 's designee) at Lessee’s 's cost and expense a an assignment (by special warranty deed and quit claim xxxx deed, bill xx sale and/or other appropriate instruments) of sale Lessor's entire interest in all the Properties together with respect an assignment of any rights of Lessor under the Earnxxx Xxxey Contract for the purchase of all the Properties from The Woodlands Land Development Company, L.P., pursuant to which Lessor first acquired the applicable Property, Properties in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Such Property shall be conveyed to Lessee (or to Lessee’s designee) “AS "AS-IS” “WHERE , "WHERE-IS” " and in then present physical condition. In additionAdditionally, Lessor shall, upon Lessee’s request shall cause all Mortgage Instruments and at Lessee’s expense, execute and deliver any documents other Security Documents executed in connection herewith (including any appropriate releases of or amendments with respect to financing statements or recorded memoranda of this Leaseall the Properties) necessary to release the Lien of this Lease on the applicable Propertybe released.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.1, or in connection with Lessee’s exercise of its Purchase Option or its option to purchase any Property pursuant to Section 20.1, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any PoolProperties, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) or 20.1, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s designee) at Lessee’s cost and expense a special warranty deed and quit claim xxxx of sale with respect to the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “AS IS” “WHERE IS” and in then present physical condition. In addition, Lessor shall, upon Lessee’s request and at Lessee’s expense, execute and deliver any documents (including any appropriate releases of or amendments to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable Property.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.1, or in connection with Lessee’s exercise of its Purchase Option or its option to purchase any Property pursuant to Section 20.1, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any PoolProperties, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) or 20.1, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s designee) at Lessee’s cost and expense a special warranty deed and quit claim xxxx of sale with respect to the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor Lessor, but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “AS IS” “WHERE IS” and in then present physical condition. In addition, Lessor shall, upon Lessee’s request and at Lessee’s expense, execute and deliver any documents (including any appropriate releases of or amendments to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable Property.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.116.2, or in connection with Lessee’s 's exercise of its Purchase Option or its option to purchase any Property pursuant to Section 20.1Option, upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any Poolterminate, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) or 20.120.2, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s 's designee) at Lessee’s 's cost and expense a special warranty deed and quit claim xxxx an assignment of sale with respect to Lessor's entire interest in the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “AS "AS-IS” “WHERE , "WHERE-IS” " and in its then present physical condition. In additionNo Purchase or Termination With Respect to Less than All of the Property. Lessee shall not be entitled to exercise its Purchase Option or the Sale Option separately with respect to the Land, Lessor shall, upon Lessee’s request and at Lessee’s expense, execute and deliver any documents (including any appropriate releases of Equipment and/or Improvements comprising the Property but shall be required to exercise its Purchase Option or amendments its Sale Option with respect to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable entire Property.

Provisions Relating to Lessee's Exercise of its Purchase Option. Subject to Section 19.2, in connection with any termination of this Lease with respect to any Property pursuant to the terms of Section 16.116.2, or in connection with Lessee’s 's exercise of its Purchase Option or its option to purchase any a Property pursuant to Section 20.120.1(a), upon the date on which this Lease is to terminate with respect to a Property or all of the Properties in any PoolProperties, and upon tender by Lessee of the amounts set forth in Sections 16.2(b) ), 20.1 or 20.120.2, as applicable, Lessor shall execute and deliver to Lessee (or to Lessee’s 's designee) at Lessee’s 's cost and expense a special warranty deed and quit claim xxxx an assignment of sale with respect to Lessor's entire interest in the applicable Property, in each case in recordable form and otherwise in conformity with local custom and free and clear of the Lien of this Lease and any Lessor Liens attributable to Lessor but without any other warranties (of title or otherwise) from the Lessor. The Lessor’s interest in the applicable Property shall be conveyed to Lessee (or to Lessee’s designee) “"AS IS” “" "WHERE IS” " and in then present physical condition. In addition, Lessor shall, upon Lessee’s 's request and at Lessee’s 's expense, execute and deliver any documents (including any appropriate releases of or amendments to financing statements or recorded memoranda of this Lease) necessary to release the Lien of this Lease on the applicable Property.