Common use of Sale of Real Estate Assets Clause in Contracts

Sale of Real Estate Assets. Notwithstanding any other provision of this Agreement or of any Lease, Landlord shall not be required to sell or transfer Leased Property, or any portion thereof, which is a real estate asset as defined in Section 856(c)(6) of the Code, to Tenant if Landlord's counsel advises Landlord that such sale or transfer may not be a sale of property described in Section 857(b)(6)(C) of the Code. If Landlord determines not to sell such property pursuant to the above sentence, Tenant's right, if any, to purchase the Leased Property shall continue and be exercisable at such time as the transaction, upon the advice of Landlord's counsel, would be a sale of property described in Section 857(b)(6)(C) of the Code.

Appears in 12 contracts

Samples: Lease Agreement (National Health Investors Inc), Master Agreement to Lease (Prison Realty Corp), Master Agreement to Lease (Prison Realty Corp)

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Sale of Real Estate Assets. Notwithstanding any other provision -------------------------- of this Agreement or of any Lease, Landlord Lessor shall not be required to sell or transfer the Leased PropertyProperty of any Facility, or any portion thereof, which is a real estate asset as defined in Section 856(c)(6856(c)(5)(B) of the Code, to Tenant Lessee if LandlordLessor's counsel advises Landlord advise Lessor that such sale or transfer may not be a sale of property described in Section 857(b)(6)(C) of the Code. If Landlord Lessor determines not to sell such property pursuant to the above sentence, TenantLessee's right, if any, to purchase the Leased Property any or all of such property shall continue and be exercisable at such time as the transaction, upon the advice of LandlordLessor's counsel, would be a sale of property described in Section 857(b)(6)(C) of the Code.

Appears in 1 contract

Samples: Master Lease (Kindred Healthcare Inc)

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Sale of Real Estate Assets. Notwithstanding any other provision of this Agreement or of any LeaseAgreement, Landlord shall not be required to sell or transfer Leased Property, or any portion thereof, which is a real estate asset as defined in Section 856(c)(6) of the Code, to Tenant if Landlord's ’s counsel advises Landlord that such sale or transfer may not be a sale of property described in Section 857(b)(6)(C) of the Code. If Landlord determines not to sell such property pursuant to the above sentence, Tenant's ’s right, if any, to purchase the Leased Property shall continue and be exercisable at such time as the transaction, upon the advice of Landlord's ’s counsel, would be a sale of property described in Section 857(b)(6)(C) of the Code.

Appears in 1 contract

Samples: Lease Agreement (National Healthcare Corp)

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