Tenant Purchase Option Sample Clauses

Tenant Purchase Option. Tenant is hereby granted the right and option to purchase the Leased Property from Landlord. The purchase option may be exercised by Tenant during the period commencing on the date that is one hundred eighty (180) days, and ending on the date that is one hundred fifty (150) days, before each of (a) the Expiration Date, (b) the expiration of the First Renewal Term and (c) the expiration of the Second Renewal Term; provided, however, the purchase option may only be exercised under clauses (a) and (b) hereof if Tenant has not elected to renew this Lease for the First Renewal Term or the Second Renewal Term, as the case may be. Tenant shall exercise the purchase option by giving written notice thereof to Landlord either prior to or on the expiration date. Within thirty (30) days of the date that Tenant exercises the purchase option, Landlord shall sell the Leased Property to Tenant and Tenant shall purchase the Leased Property from Landlord at a purchase price based upon the Leased Property's fair market value at the time Tenant exercises the purchase option, determined in accordance with the provisions of Article 33 hereof. At the closing of the sale of the Leased Property to Tenant, Tenant shall convey the purchase price to Landlord and Landlord shall convey to Tenant a special warranty deed conveying good, indefeasible and insurable title to the Leased Property, subject to reasonably appropriate permitted exceptions. Tenant shall pay all fees and expenses associated with the conveyance of the Leased Property pursuant to Tenant's exercise of the purchase option, including, but not limited to, all transfer taxes, recording fees and Landlord's attorney's fees, costs and disbursements. If Tenant fails to exercise the option to purchase the Leased Property in the manner provided in this Article 39, the purchase option shall expire and no party hereto shall thereafter have any rights, liabilities or obligations whatsoever under this Lease.
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Tenant Purchase Option. The Seller has advised the Purchaser that the tenant described in Schedule C has a right of first refusal (the “Right of First Refusal”) to purchase the Property. Promptly upon the execution hereof, the Seller shall provide such tenant with such notice as may be required to cause such tenant to exercise or waive its Right of First Refusal. Such notice shall identify (a) the Purchase Price and (b) any other applicable terms pursuant to such Lease. The Seller shall give the Purchaser prompt notice of such tenant’s exercise or waiver of its Right of First Refusal. In the event that such tenant shall exercise its Right of First Refusal, this Agreement shall terminate and be of no further force and effect and neither party shall have any liability to the other hereunder.
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Tenant Purchase Option. The Regents of the University of Michigan (the largest tenant) have a one-time option to purchase the mortgaged property on or about July 1,2029, with notice to exercise the option on or before July 1, 2027. (The loan matures on September 11, 2029.) The option price, net of customary seller-incurred costs of sale, plus all cash flows to borrower from the time of acquisition to the date of sale, shall produce a 13.0% internal rate of return to borrower on its investment. The purchase option is not extinguished by foreclosure; however, the purchase option does not apply to foreclosure or deed in lieu thereof, or to any subsequent transfer of the mortgaged property by the lender or its nominee. If the lender or a third party so takes possession, the option price is then determined by outstanding loan balance and accrued but unpaid interest (but excluding default interest or call protection-type fees). The loan documents provide that the guarantors have personal liability for losses related to any exercise of the purchase option that does not result in the repayment of the loan in full. The guarantors had an aggregate stated net worth as of June 30, 2019 in excess of the original principal amount of the loan.
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Tenant Purchase Option. 62 THIS LEASE (this "Lease") is made and entered into as of the 29th day of May, 1998 between IHS ACQUISITION NO. 105, INC., a Delaware corporation, with principal offices at 00000 Xxx Xxx Xxxxxxxxx, Xxxxxx Xxxxx, Xxxxxxxx 00000 ("Landlord") and PEAK MEDICAL OF IDAHO, INC., a Delaware corporation, with principal offices at 0000 Xxxxxxxxx Xxxxxxxxx, X.X., Xxxxxxxxxxx, Xxx Xxxxxx 00000 ("Tenant").
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Tenant Purchase Option. Section 42.1 (a) During the period commencing on the Commencement Date to and including the thirty sixth (36th) month anniversary of the Commencement Date, TIME BEING OF THE ESSENCE (the "Option Period"), Strainwise, Inc., the named Tenant in this Lease ("Named Tenant"), shall have a single, one-time option (subject to the last sentence of Section 42.3(a)) to purchase the Demised Premises (the "Purchase Option") in its "as is" "where is" condition and upon the terms and conditions set forth in this Article 42 for a purchase price in the amount of TWO MILLION FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($2,400,000.00) (the "Option Price").
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Tenant Purchase Option. If the Hotel Project has been constructed on the Xxxxxxx'x Land and Tenant either fails to exercise the Tenant Purchase Option prior to the expiration of the TPO Term, or timely exercises the Tenant Purchase Option but fails to close as and when required under Section 7.1(b), Landlord shall have the option during the LO Term (as defined herein) to lease the Xxxxxxx'x Land for Fair Rental Value (as defined herein) pursuant to the terms and conditions set forth herein (the "
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Tenant Purchase Option. The largest retail tenant (Truist Bank, representing 38.2% of NRA) has a fair market value-based option to purchase the units constituting its leased space (but not the limited common areas where its drive-thru facilities are located), exercisable on September 30, 2026 with not less than 2 nor more than 12 months’ notice. The purchase option is not extinguished by foreclosure. The loan documents provide that, in connection with the tenant’s exercise of its purchase option, the borrower may obtain the release of the related Truist condominium units, subject to certain conditions, including: (i) together with the related yield maintenance premium and applicable interest shortfall, prepayment of the loan in an amount equal to the greatest of (A) the net proceeds of the sale, as reasonably determined by lender; (B) $2,511,220 (120% of the allocated loan amount for the release parcel); (C) an amount that would result in post-release debt yield for the remaining property’s being not less than the greater of property’s pre-release debt yield (including the release parcel) or 12.2%; (D) an amount that would result in post-release LTV for the remaining property’s being not greater than the lesser of property’s pre-release LTV (including the release parcel) or 54.9%; or (E) if applicable, an amount necessary to satisfy the post-release 125% loan-to-value test for REMIC purposes; (ii) a rating agency confirmation; and (iii) an opinion of counsel that the partial release complies with REMIC requirements.
Sample 1
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Related to Tenant Purchase Option

  • Substitute Purchase Option In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company into, another corporation (other than a consolidation or merger which does not result in any reclassification or change of the outstanding Common Stock), the corporation formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares of stock and other securities and property receivable upon such consolidation or merger, by a holder of the number of shares of Common Stock of the Company for which such Purchase Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in Section 6. The above provision of this Section shall similarly apply to successive consolidations or mergers.

  • Purchase Option The Company hereby agrees to issue and sell to the Representative (and/or their designees) on the Effective Date an option ("Representative's Purchase Option") for the purchase of an aggregate of ______ units ("Representative's Units") for an aggregate purchase price of $100. Each of the Representative's Units is identical to the Firm Units except that the Warrants included in the Representative's Units ("Representative's Warrants") have an exercise price of $____ (___% of the exercise price of the Warrants included in the Units sold to the public). The Representative's Purchase Option shall be exercisable, in whole or in part, commencing on the later of the consummation of a Business Combination and one year from the Effective Date and expiring on the five-year anniversary of the Effective Date at an initial exercise price per Representative's Unit of $___, which is equal to _________ (___%) of the initial public offering price of a Unit. The Representative's Purchase Option, the Representative's Units, the Representative's Warrants and the shares of Common Stock issuable upon exercise of the Representative's Warrants are hereinafter referred to collectively as the "Representative's Securities." The Public Securities and the Representative's Securities are hereinafter referred to collectively as the "Securities." The Representative understands and agrees that there are significant restrictions against transferring the Representative's Purchase Option during the first year after the Effective Date, as set forth in Section 3 of the Representative's Purchase Option.

  • Purchase Options Neither the Property nor any part thereof is subject to any purchase options or other similar rights in favor of third parties.

  • Representatives Purchase Option The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Closing Date an option (“Representative’s Purchase Option”) to purchase up to an aggregate of 500,000 units (the “Representative’s Units”) for an aggregate purchase price of $100.00. The Representative’s Purchase Option shall be exercisable whether for cash or on a cashless basis, in whole or in part, commencing on the later of the consummation of a Business Combination or one year from the Effective Date and expiring on the five-year anniversary of the Effective Date at an initial exercise price per Representative’s Unit of $8.80, which is equal to one hundred ten percent (110%) of the initial public offering price of a Unit. On the Closing Date, the Company shall deliver to the Representative, upon payment therefor, certificates for the Representative’s Purchase Option in the name or names and in such denominations as the Representative may request. The Representative’s Purchase Option, the Representative’s Units, the Ordinary Shares included in the Representative’s Units, the Warrants included in the Representative’s Units (the “Representative’s Warrants”) and the Ordinary Shares issuable upon exercise of the Representative’s Warrants are hereinafter referred to collectively as the “Representative’s Securities.” The Public Securities and the Representative’s Securities are hereinafter referred to collectively as the “Securities.” Delivery and payment for the Representative’s Purchase Option shall be made on the Closing Date. The Company shall deliver to the Representative, upon payment therefor, certificates for the Representative’s Purchase Option in the name or names and in such authorized denominations as the Representative may request.

  • Exercise of Purchase Option AIR shall have an option (an “Option”) to acquire any real property owned or leased (subject to any consent rights granted to the landlord under any lease under which DevCo or an Affiliate is the tenant, provided, however, that no Option will apply to any Leased Property that is then leased to DevCo or its Affiliates pursuant to a Master Lease) by DevCo or any of its Subsidiaries, which was originally acquired by DevCo or its Subsidiaries after the Effective Date, which had not achieved Stabilization as of such acquisition but which has subsequently achieved Stabilization (each, an “Option Property”). Within fifteen (15) days following the date on which Stabilization for an Option Property has been achieved, DevCo shall send AIR a written notice advising AIR that such Option Property has reached Stabilization (an “Option Notice”), upon receipt of which AIR will have sixty (60) days (the “Option Exercise Period”) to exercise its Option to purchase such Option Property by delivering to DevCo written notice of the same. If AIR timely delivers a written notice to DevCo that it intends to exercise its Option and proceed with the acquisition of the Option Property, AIR will pay to DevCo the Current FMV for the subject Option Property, and the Parties will close on such Option pursuant to a purchase and sale agreement, which shall be in the form attached to the form of Standard Lease (which is attached hereto as Exhibit A). The Parties shall apply the closing mechanics set forth in Section 10(b) above (as if the Option Property were a ROFO Property, for such purposes). In the event DevCo fails to timely deliver an Option Notice to AIR, then, within thirty (30) days following the date on which AIR becomes aware that Stabilization of the subject Option Property has occurred, AIR shall have the right to send an Option Notice to DevCo (notifying DevCo that AIR believes the subject Option Property has reached Stabilization), and the Option Exercise Period will commence as of the date of such Option Notice. In the event that a Party receiving an Option Notice disputes that Stabilization of the subject Option Property has occurred or is continuing as of the date of such Option Notice, such Party will send to the other Party a Dispute Notice (as defined in and pursuant to Section 18(b)) containing an explanation of such dispute within fifteen (15) days following its receipt of the Option Notice. The Parties shall endeavor to resolve the dispute, and, if they are unable to so resolve it, will proceed to arbitration to resolve such dispute, all in accordance with the terms of Section 18.

  • Exercise of Repurchase Option The Repurchase Option shall be exercised by written notice signed by an officer of the Company or by any assignee or assignees of the Company and delivered or mailed as provided in Section 17(a). Such notice shall identify the number of shares of Stock to be purchased and shall notify Purchaser of the time, place and date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option set forth in Section 2(a) above. The Company shall be entitled to pay for any shares of Stock purchased pursuant to its Repurchase Option, at the Company's option, in cash or by offset against any indebtedness owing to the Company by Purchaser, or by a combination of both. Upon delivery of such notice and payment of the purchase price in any of the ways described above, the Company shall become the legal and beneficial owner of the Stock being repurchased and all rights and interest therein or related thereto, and the Company shall have the right to transfer to its own name the Stock being repurchased by the Company, without further action by Purchaser.

  • Exercise of Purchase Options Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their Purchase Options or Warrants underlying such Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof.

  • Repurchase Option (a) In the event Executive ceases to be employed by the Company, Employer or their respective Subsidiaries for any reason (the “Separation”), the Unvested Shares (whether held by Executive or one or more of Executive’s transferees, other than the Company) will be subject to repurchase, in each case by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 (the “Repurchase Option”). The Company may assign its repurchase rights set forth in this Section 3 to any Person. (b) In the event of a Separation the purchase price for each Unvested Share will be the lesser of (i) Executive’s Original Cost for the Carried Unit(s) in respect of which such Share was issued to Executive and (ii) the Fair Market Value of such Share as of the date of the Repurchase Notice (defined below). (c) The Board may elect to purchase all or any portion of the Unvested Shares by delivering written notice (the “Repurchase Notice”) to the holder or holders of the Unvested Shares within ninety (90) days after the Separation. The Repurchase Notice will set forth the number of Unvested Shares to be acquired from each holder, the aggregate consideration to be paid for such Unvested Shares and the time and place for the closing of the transaction. The number of Unvested Shares to be repurchased by the Company shall first be satisfied to the extent possible from the Unvested Shares held by Executive at the time of delivery of the Repurchase Notice. If the number of Unvested Shares then held by Executive is less than the total number of Unvested Shares which the Company has elected to purchase, the Company shall purchase the remaining Unvested Shares elected to be purchased from the other holder(s) of Unvested Shares under this Agreement, pro rata according to the number of Unvested Shares held by such other holder(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest share). The number of Unvested Shares to be repurchased hereunder will be allocated among Executive and the other holders of Unvested Shares (if any) pro rata according to the number of Unvested Shares to be purchased from such Person.

  • Substitute Purchase Warrant In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Shares of the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this Section 6. The above provision of this Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

  • Landlord’s Options Landlord shall have the option, exercisable by written notice delivered to Tenant within twenty (20) days after Landlord’s receipt of a Transfer Notice accompanied by the other information described in Section 12.1, to: (a) permit Tenant to Transfer the Premises; or (b) disapprove (provided, Landlord’s disapproval must be in accordance with Section 12.1 hereof) the Tenant’s Transfer of the Premises and to continue the Lease in full force and effect as to the entire Premises; or (c) in the event of (i) a proposed assignment of the Lease or (ii) a sublease of more than 50% of the Premises (taking into account all sublets in the aggregate) for all or substantially all of the balance of the Term, terminate the Lease as of the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice (a “Recapture”); provided, however, that if Landlord shall notify Tenant of Landlord’s intention to Recapture the Premises, Tenant may elect to withdraw its Transfer Notice by written notice of such election delivered to Landlord within ten (10) business days of Tenant’s receipt of Landlord’s Recapture notice. If Landlord approves of the proposed Transfer pursuant to Section 12.1 above, Tenant may enter into the proposed Transfer with such proposed Transferee subject to the following conditions: (i) the Transfer shall be on the same terms set forth in the Transfer Notice; and (ii) no Transfer shall be valid and no Transferee shall take possession of the Premises until an executed counterpart of the assignment, sublease or other instrument effecting the Transfer (in the form approved by Landlord) has been delivered to Landlord pursuant to which the Transferee shall expressly assume all of Tenant’s obligations under this Lease applicable to that portion of the Premises then being transferred (provided that, for a subtenant, the rental obligations shall be governed by the terms of the applicable sublease). If Landlord exercises its option to terminate this Lease (or in the case of a partial sublet to release Tenant with respect to a portion of the Premises) as provided above, Tenant shall surrender possession of the Premises on the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice, and thereafter neither Landlord nor Tenant shall have any further liability with respect thereto, except with respect to those matters that expressly survive the termination of the Lease.

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