Common use of RIGHT TO PURCHASE AFTER TERMINATION Clause in Contracts

RIGHT TO PURCHASE AFTER TERMINATION. If there is a valid and legal termination of the Master Lease Agreement pursuant to its terms, which termination occurs on or after the Option Exercise Date, and no holder of a mortgage which is a lien on the leasehold estate created by the Master Lease Agreement has exercised its right pursuant to the Lease to obtain a new lease, the Company, as the landlord under the Master Lease Agreement, will so notify (the "Lease Termination Notice") the NS Member at the address set forth herein for notices. In such event, the NS Member shall have the right to acquire the Acquired Interests pursuant to the terms of Section 10.07 hereof, provided, however, (i) if within thirty (30) days of the NS Member's actual receipt of such notice, the NS Member fails to exercise its right to acquire the Acquired Interests, or (ii) in the alternative, if the Company fails to notify the NS Member, and the NS Member has not, within sixty (60) days from the date of the valid and legal termination of the Master Lease Agreement, exercised the right to acquire the Acquired Interests, the NS Member's right to exercise the right to acquire the Acquired Interests shall be deemed terminated.

RIGHT TO PURCHASE AFTER TERMINATION. Section 45.1. If there is a valid and legal termination of the Master Lease Agreement this lease pursuant to its terms, which termination occurs on or after the Option Exercise DateApril 1, 2008, and no holder of a mortgage which is a lien on the leasehold estate created by the Master Lease Agreement Leasehold Mortgagee has exercised its the right pursuant to the Lease Article 24 hereof to obtain a new lease, the Company, as the landlord under the Master Lease Agreement, Landlord will so notify (the "Lease Termination Notice") the Optionee and NS Member at the address set forth herein above for Tenant (or to such other person and at such other address as Landlord shall have been previously notified by Optionee at its address for notices). In such event, either Optionee shall have the right to exercise the Option and to acquire the Demised Premises pursuant to the terms of the Option Agreement, or NS Member shall have the right to acquire the Acquired Interests pursuant to the terms of as provided in Section 10.07 hereofof the Operating Agreement, provided, however, (i) if within thirty (30) days of the Optionee's or NS Member's actual receipt of such notice, Optionee fails to exercise its right to the Option or, as the case may be, NS Member fails to exercise its right to acquire the Acquired Interests, Interest or (ii) in the alternative, if the Company Landlord fails to notify the Optionee and/or NS Member, Member and the Optionee or NS Member has not, within sixty (60) days from the date of the valid and legal termination of the Master Lease Agreementlease, exercised the Option, or, as the case may be, its right to acquire the Acquired Interests, the NS MemberInterest Optionee's right to exercise the right to acquire the Acquired Interests Option shall be deemed terminated.