Common use of Purchase Option at Expiration of the Lease Term Clause in Contracts

Purchase Option at Expiration of the Lease Term. Subject to the notice requirements set forth in Section 13(a), unless a Default or an Event of Default shall have occurred and be continuing or an Event of Loss or Deemed Loss Event shall have occurred, on the date of the expiration of the Basic Lease Term or the Renewal Term (if elected), the Lessee shall have the right to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the Fair Market Sales Value thereof.

Appears in 2 contracts

Samples: Facility Lease (Public Service Co of New Mexico), Facility Lease (Public Service Co of New Mexico)

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Purchase Option at Expiration of the Lease Term. Subject to the notice requirements set forth in Section 13(a)13 (a) , unless a Default or an Event of Default shall have occurred and be continuing or an Event of Loss or Deemed Loss Event shall have occurred, on the date of the expiration of the 6091.CHASEU1.LEASE.47:1 Basic Lease Term or the Renewal Term (if elected), the Lessee shall have the right right. to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the Fair Market Sales sates Value thereof.

Appears in 1 contract

Samples: Facility Lease (Public Service Co of New Mexico)

Purchase Option at Expiration of the Lease Term. Subject to the notice requirements set forth in Section 13(a), unless a Default or an Event of Default shall have occurred and be continuing or an Event of Loss or Deemed Loss Event shall have occurred, on the date of the expiration of the Basic Lease Term or the Renewal Term (if elected)January 15, 2023 the Lessee shall have the right to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the Fair Market Sales Value thereof.” (d) The definition of “Maximum Option Period” in Appendix A to the Facility Lease shall be amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Facility Lease (Public Service Co of New Mexico)

Purchase Option at Expiration of the Lease Term. Subject to the notice requirements set forth in Section 13(a), unless a Default or an Event of Default shall have occurred and be continuing or an Event of Loss or Deemed Loss Event shall have occurred, on the date of the expiration of the Basic Lease Term or the Renewal Term (if elected)January 15, 2024 the Lessee shall have the right to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the Fair Market Sales Value thereof.” (d) The definition of “Maximum Option Period” in Appendix A to the Facility Lease shall be amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Facility Lease (Public Service Co of New Mexico)

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Purchase Option at Expiration of the Lease Term. Subject to the notice requirements set forth in Section 13(a), unless a Default or an Event of Default shall have occurred and be continuing or an Event of Loss or Deemed Loss Event shall have occurred, on the date of the expiration of the Basic Lease 6091.CHASEU2.LEASE.47:1 Term or the Renewal Term (if elected), the Lessee shall have the right to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the Fair Market Sales Value thereof.

Appears in 1 contract

Samples: Facility Lease (Public Service Co of New Mexico)

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