Purchase Obligation. An obligation of the Company to repurchase Mortgage Loans under the circumstances and in the manner provided in Section 2.07 or Section 2.08.
Purchase Obligation. An obligation of the Depositor or the Seller to repurchase Loans under the circumstances and in the manner provided in Section 2.3.
Purchase Obligation. An obligation of the Depositor to repurchase Loans under the circumstances and in the manner provided in Section 2.2 or Section 2.3.
Purchase Obligation. Upon termination of this agreement for any ------------------- reason, Provider shall, at Service Company's option:
(a) Purchase from Service Company at book value the intangible assets, deferred charges, goodwill, and all other amounts on the books of the Service Company relating to this agreement or the items or services provided by Service Company pursuant to this agreement, including without limitation the amount, if any, for the covenants described in (S)5.7, above, as adjusted through the last day of the month most recently ended prior to the date of such termination in accordance with GAAP to reflect amortization or depreciation of all such amounts;
(b) Purchase from Service Company any real estate owned by Service Company and used as a Clinic at the greater of the appraised fair market value thereof or the then book value thereof;
(c) Purchase, at the greater of the appraised fair market value or the then book value, all improvements, additions, or leasehold improvements that have been made by Service Company at any Clinic and that relate to the performance of Service Company's obligations under this agreement;
(d) Assume all debt, and all contracts, payables, and leases that are obligations of Service Company and that relate to the performance of Service Company's obligations under this agreement or the properties leased or subleased by Service Company in connection with its obligations under this agreement; and
(e) Purchase from Service Company, at the greater of the appraised fair market value or the then book value, all of the equipment then being supplied by Service Company pursuant to Service Company's obligations under this agreement, and all other assets, including inventory and supplies, tangibles and intangibles, set forth on the books of Service Company as adjusted through the last day of the month most recently ended prior to the date of such termination in accordance with GAAP to reflect operations of each Clinic, depreciation, amortization, and other adjustments of assets shown on the books of the Service Company. For purposes of subsection (b), above, the appraised value shall be determined by an appraiser mutually agreed upon by the Parties. In the event the Parties are unable to agree upon an appraiser within 10 days following the date upon which either Party requests the other Party to agree to an appraiser, then each Party shall appoint an appraiser, who shall in turn select a third appraiser who shall serve as the appraiser here...
Purchase Obligation. Following the five-year anniversary of the date of this Agreement, on each six-month anniversary thereafter, the Company shall determine the aggregate value of the shares of Class B Stock held by the Purchaser. The value of each share of Class B Stock shall equal the fair market value of one share of the Common Stock on such date, to be calculated as follows: (i) if the Common Stock is listed or admitted to trading on a national securities exchange, the last reported sale price of the Common Stock, regular way, on such day or in case no sale takes place on such day, the average of the reported closing bid and asked prices of the Common Stock, regular way, on such day, in either case as reported on such exchange; or (ii) if the Common Stock is not listed or admitted to trading on any national securities exchange, but is listed on the Nasdaq National Market, the closing sale price of the Common Stock on such day, or in case no sale is publicly reported for such day, the average of the representative closing bid and asked quotations for the Common Stock, as reported on Nasdaq; or (iii) if the Common Stock is not listed or admitted to trading on the Nasdaq National Market, the average of the bid and asked prices for the Common Stock as furnished for such day by Nasdaq, or, if not furnished by Nasdaq, by any New York Stock Exchange, Inc. member firm regularly making a market in the Common Stock and selected for such purpose by the Company’s board of directors; or (iv) if no public market exists for the Common Stock, as determined in good faith by the Company’s board of directors. If the aggregate value of the Class B Stock held by the Purchaser is determined to be less than $500,000, then the Purchaser shall purchase from the Company such number of shares of Class B Stock as would equal the difference between the value of the Class B Stock as determined herein and $500,000. The purchase price of such shares of Class B Stock would be payable to the Company by wire transfer in immediately available funds to an account designated by the Company no later than one business day after the determination of the value as provided herein. If such six-month anniversary falls on any day that is not a business day, then the determination of the value of the Class B Stock shall be made on the next immediately following business day.
Purchase Obligation. The Fund and the Purchaser acknowledge and agree that the Series 1 VRDP Shares do not have the benefit of a demand feature pursuant to any Purchase Obligation (as defined in the Statement).
Purchase Obligation. An obligation of the Sponsor or the Depositor to purchase Mortgage Loans under the circumstances and in the manner provided in Section 2.02 or 2.04.
Purchase Obligation. Upon expiration of this Retail Business Management Agreement in accordance with Section 6.1 or termination of this Retail Business Management Agreement by Retail Business Manager, as set forth in Sections 6.2(b) or 6.2(d) above, the Practice shall upon Retail Business Manager's demand:
(a) Purchase from Retail Business Manager at book value all of the assets, tangible and intangible, including without limitation equipment, furniture, goodwill, intellectual property, inventory, and supplies, used in, or related to, the operations of the Dispensary and all replacements and additions thereto made by Retail Business Manager pursuant to the performance of its obligations under this Retail Business Management Agreement, set forth on the books of Retail Business Manager as adjusted through the last day of the month most recently ended prior to the date of such termination in accordance with GAAP to reflect operations of the Dispensary, depreciation, amortization, and other adjustments of assets shown on the books of Retail Business Manager;
(b) Assume all contracts and leases and the Practice's pro rata share of all debts and payables that are obligations of Retail Business Manager and that relate principally to the performance of Retail Business Manager's obligations under this Retail Business Management Agreement; provided, however, that the Practice shall only be obligated to assume such contracts and leases if a reasonable third person would conclude that the Practice will be able to enjoy the benefits of the contracts and leases following such assumption; and
(c) Cause to be executed by Shareholders of the Practice such security agreements reasonably required by Retail Business Manager in connection with the purchase described in this Section 6.4. All current Shareholders of the Practice shall on or before the effective date of this Retail Business Management Agreement, and all individuals who become Shareholders of the Practice after the effective date of commencement of this Retail Business Management Agreement shall upon becoming a Shareholder of the Practice, execute and deliver to Retail Business Manager an undertaking to comply with this Section 6.4 which shall be in the form of Exhibit 6.4.
Purchase Obligation. (a) Unless the Lessee shall have properly exercised the Purchase Option and purchased all of the Leased Property pursuant thereto, then, subject to the terms, conditions and provisions set forth in this Article XV, the Lessee shall purchase from the Lessor for a purchase price equal to the Lease Balance, and the Lessor shall convey to the Lessee, on the Lease Termination Date, the Lessor’s entire interest in all, but not less than all, of the Leased Property in accordance with the Purchase Procedure set forth in Section 15.5. The Lessee may designate, in a notice given to the Lessor not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that such designation of a transferee shall not cause the Lessee to be released, fully or partially, from any of its obligations under this Lease or the other Operative Documents.
(b) If the Lessee fails to purchase the Leased Property as provided in Section 15(a) above, the Lessee’s right to purchase the Leased Property pursuant to Section 15(a) shall terminate, and the Lessor shall have the unrestricted right, in addition to and not in lieu of any other remedies available to the Lessor under Article XIV as a result of such failure, to sell the Leased Property to a third party in full or partial satisfaction of the Lessee’s obligations under this Lease. In the event the Lessor elects to sell the Leased Property to a third party as provided herein, the Lessee shall continue to be liable to the Lessor for an amount (the “Lessee’s Net Payment”) equal to the difference between (i) the net proceeds from the sale of the Leased Property, after first deducting therefrom all costs and expenses incurred by the Lessor incident to such sale, including, without limitation, all costs, expenses, fees, premiums and taxes described in Section 15.5(c) (the “Sales Proceeds”), and (ii) the Lease Balance, plus any and all other sums due and owing from the Lessee pursuant to this Lease and the other Operative Documents (collectively, the “Outstanding Lease Obligations”). The Lessor shall have the right to demand payment of the Lessee’s Net Payment from the Lessee at any time following the Lease Termination Date, and the Lessee shall make such payment to the Lessor within five (5) B...
Purchase Obligation. During each Contract Year, Purchaser shall purchase from Producer no less than 85% of the Annual Supplied Product Quantity (defined below), with amounts pro-rated for the Contract Year in which this Agreement is expired or terminated (as applicable in each case, the “Minimum Annual Volume”). For purposes of this Section 2.2, a Supplied Product shall be deemed purchased as of the time Producer receives the Firm Order associated with such Supplied Product in accordance herewith.
