PURCHASE OF TENANT’S PERSONAL PROPERTY. Landlord shall have the option to purchase Tenant’s Personal Property and any other tangible personal property of any of Tenant’s subtenants which are Affiliated Persons of and Controlled by Tenant which is used in connection with the operation of any Travel Center, at the expiration or sooner termination of this Agreement, for an amount equal to the then fair market value thereof (current replacement cost as determined by agreement of the parties or, in the absence of such agreement, appraisal), subject to, and with appropriate price adjustments for, all liabilities assumed such as equipment leases, conditional sale contracts and other encumbrances securing such liabilities to which such Tenant’s Personal Property or property of such subtenant is subject.
Appears in 6 contracts
Samples: Lease Agreement (Service Properties Trust), Lease Agreement (Service Properties Trust), Lease Agreement (Service Properties Trust)
