Common use of PURCHASE OF THE LEASED PROPERTY Clause in Contracts

PURCHASE OF THE LEASED PROPERTY. If Tenant purchases the Leased Property of any Facility from Landlord pursuant to any provision of this Master Lease, Landlord shall, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant an appropriate deed or other conveyance conveying the entire interest of Landlord in and to the Leased Property to Tenant free and clear of all encumbrances other than (i) those that Tenant has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to Landlord; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant or to which Tenant may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess of the applicable purchase price. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord or as Landlord may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by Tenant.

Appears in 2 contracts

Samples: Master Lease (SHG Services, Inc.), Master Lease (Sabra Health Care REIT, Inc.)

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PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume Lessee or take subject to any encumbrance material interference with a principal balance in excess the use or operations of the applicable purchase priceFacility for its Primary Intended Use. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All reasonable out-of-pocket expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 2 contracts

Samples: Master Lease and Security Agreement (Emeritus Corp\wa\), Master Lease and Security Agreement (Hcp, Inc.)

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume Lessee or take subject to any encumbrance material interference with a principal balance in excess the use or operations of the applicable Facility for its Primary Intended Use. The applicable purchase price. The difference between the applicable purchase price and , less the total amount of the encumbrances assumed or taken subject to which can be satisfied by the payment of money (other than any financing provided by Lessor for the purchase of the applicable Leased Property), shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All reasonable out-of-pocket expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 2 contracts

Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.), Master Lease and Security Agreement (Hcp, Inc.)

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess of the applicable purchase priceLessee. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by Tenant.Lessee. 18.2

Appears in 1 contract

Samples: Master Lease Agreement

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord pursuant to any provision of this Master LeaseLessor, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant an appropriate Lessee a limited warranty deed or other conveyance conveying the entire interest of Landlord good title in and to the Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances (other than this Lease or any liens or encumbrances placed on or arising against the Leased Property by, through or under Lessor) which were in effect on the date of conveyance of such the Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant or to which Tenant may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess of the applicable purchase pricePermitted Encumbrances. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the The cost of any title insurance, reasonable attorneys’ fees incurred insurance required by Landlord Lessee in connection with such conveyance and release, transfer taxes release and recording fees and one half of any escrow fees, fees shall be paid by TenantLessee. The cost of any transfer taxes and one half of any escrow fees shall be paid by Lessor.

Appears in 1 contract

Samples: Lease Agreement (Sunlink Health Systems Inc)

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such the Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such the Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess of the applicable purchase priceLessee. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 1 contract

Samples: Lease (Capital Senior Living Corp)

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume Lessee or take subject to any encumbrance material interference with a principal balance in excess the use or operations of the applicable Facility for its Primary Intended Use. The applicable purchase price. The difference between the applicable purchase price and , less the total amount of the encumbrances assumed or taken subject to which can be satisfied by the payment of money (other than any financing provided by Lessor for the purchase of the applicable Leased Property), shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All reasonable out-of-pocket expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord in connection Lessor inconnection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 1 contract

Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.)

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PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord pursuant to any provision of this Master LeaseLessor, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate deed or other conveyance conveying the entire interest of Landlord Lessor in and to the Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such the Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such the Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event Lessee. Lessee shall Tenant be obligated to assume or take subject to any encumbrance with receive a principal balance in excess of credit against the applicable purchase price. The price for the total of the encumbrances assumed or taken subject to and the difference between the applicable purchase price and the total of the such encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys' fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 1 contract

Samples: Integrated Living Communities Inc

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that Lessee or material diminution in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess the value of the applicable purchase priceFacility. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys' fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 1 contract

Samples: Master Lease (Ensign Group, Inc)

PURCHASE OF THE LEASED PROPERTY. If Tenant Lessee purchases the Leased Property of any Facility from Landlord Lessor pursuant to any provision provisions of this Master Lease, Landlord Lessor shall, upon receipt from Tenant Lessee of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of the purchase, deliver to Tenant Lessee an appropriate special or limited warranty deed or other conveyance conveying the entire interest of Landlord Lessor in and to the such Leased Property to Tenant Lessee free and clear of all encumbrances other than (i) those that Tenant Lessee has agreed hereunder to pay or discharge; (ii) those mortgage liens, if any, which Tenant Lessee has agreed in writing to accept and to take title subject to; (iii) those liens and encumbrances which were in effect on the date of conveyance of such Leased Property to LandlordLessor; and (iv) any other encumbrances permitted hereunder to be imposed on such Leased Property which are assumable at no cost to Tenant Lessee or to which Tenant Lessee may take subject without cost to Tenant; provided, however, that in no event shall Tenant be obligated to assume or take subject to any encumbrance with a principal balance in excess of the applicable purchase priceLessee. The difference between the applicable purchase price and the total of the encumbrances assumed or taken subject to shall be paid to Landlord Lessor or as Landlord Lessor may direct in immediately available funds. All expenses of such conveyance, including the cost of title insurance, reasonable attorneys’ fees incurred by Landlord Lessor in connection with such conveyance and release, transfer taxes and recording and escrow fees, shall be paid by TenantLessee.

Appears in 1 contract

Samples: Master Lease (Capital Senior Living Corp)

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