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. (ii)
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Tenant Purchase Option. 62 LEASE THIS LEASE (this "Lease") is made and entered into as of the 29th day of May, 1998 between IHS ACQUISITION NO. 104, 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. 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.
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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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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, for an aggregate purchase price of $100.00, an option (“Representative’s Purchase Option”) to purchase up to an aggregate of 200,000 Units (the “Representative’s Units”). 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 $11.00, which is equal to one hundred and ten percent (110%) of the initial public offering price per 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 shares of Common Stock included in the Representative’s Units, the Rights included in the Representative’s Units (the “Representative’s Rights”), the Warrants included in the Representative’s Units (the “Representative’s Warrants”) and the shares of Common Stock issuable pursuant to the terms of the Representative’s Rights and Representative’s Warrants are hereinafter referred to collectively as the “Representative’s Securities.” Delivery and payment for the Representative’s Purchase Option shall be made on the Closing Date.

  • Exercise of Purchase Option If Purchaser elects to exercise this Option, it shall do so by sending a written notice of such exercise to Seller prior to the expiration of the Option Term. Purchaser’s notice shall specify the date and time that the closing of the purchase and sale of the Property (the “Closing”) will take place, which shall be no earlier than the date that is thirty (30) days after the date of the exercise of the Option and no later than the date that is forty-five (45) days after the date of the exercise of the Option. Purchaser and Seller shall conduct an escrow‑style closing through the Title Company so that it will not be necessary for any party to physically attend the Closing. Notwithstanding any provision to the contrary in this Agreement, if the notice of exercise is mailed via the U.S. Postal Service, the notice shall be deemed to have been delivered when mailed if sent with prepaid postage by certified or registered mail, or if sent via overnight delivery service, the notice shall be deemed to have been delivered when deposited with such overnight delivery service. Within three (3) business days following Purchaser’s exercise of the Option, ONE THOUSAND AND NO/DOLLARS ($1,000.00) shall be paid by Purchaser to Title Company as xxxxxxx money (the “Xxxxxxx Money”). The Xxxxxxx Money shall be held in a segregated interest bearing account by Title Company. All interest and earnings shall be paid to Purchaser. The Xxxxxxx Money shall be credited against the Purchase Price at Closing. Title Company shall act as escrow agent until Closing and shall hold and disburse the Xxxxxxx Money as provided in this Agreement. Seller shall have no right to receive any payment of the Xxxxxxx Money unless Seller terminates this Agreement in accordance with Section 16(a) below as a result of an uncured default of this Agreement by Purchaser, or the Xxxxxxx Money is credited against the Purchaser Price due at Closing. Seller and Purchaser agree to cause to be executed, acknowledged and delivered to Title Company such further reasonable and necessary escrow instruments and documents requested by the Title Company in connection with Title Company holding and disbursing the Xxxxxxx Money and Title Company conducting the Closing, in order to carry out the intent and purpose of this Agreement.

  • 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.

  • Release of Shares From Repurchase Option (a) 25% of the Shares shall be released from the Company’s repurchase option one year after the date of this Agreement, 25% of the Shares shall be released from the Company’s repurchase option two years after the date of this Agreement, 25% of the Shares shall be released from the Company’s repurchase option three years after the date of this Agreement, and the remaining 25% of the Shares shall be released from the repurchase option four years after such date, subject to Director continuing to be a Service Provider on such dates.

  • Increase Option Subject to the prior written consent of the Administrative Agent (not to be unreasonably withheld), the Borrower may from time to time (but in no event more than 3 times in the aggregate) elect to increase the Aggregate Revolving Commitment and/or the Aggregate Term Commitment, in each case in integral multiples of $5,000,000 (but not less than $25,000,000) or such lower amount as the Borrower and the Administrative Agent agree upon, so long as, after giving effect thereto, the aggregate amount of such increases (when added to the existing Aggregate Total Commitment) does not exceed $1,000,000,000. The Borrower may arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, an “Increasing Lender”), or by one or more new Eligible Assignees (each such new Eligible Assignee, an “Augmenting Lender”), to increase their existing Commitments, or provide new Commitments, as the case may be; provided that (i) each Augmenting Lender and each Increasing Lender shall be subject to the approval of the Borrower and the Administrative Agent, in each case not to be unreasonably withheld, and, with respect to any increase in the Revolving Commitments, shall be either a Qualified Bank or approved by each LC Issuer, such approval not to be unreasonably withheld, and (ii) (x) in the case of an Increasing Lender, the Borrower and such Increasing Lender execute an agreement substantially in the form of Exhibit G hereto, and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit H hereto. In no event shall any Lender become an Increasing Lender or an Augmenting Lender without such Lender’s prior written consent (in its sole discretion). No consent of any Lender (other than the Administrative Agent and the Lenders participating in the increase) shall be required for any increase in Commitments pursuant to this Section 2.24. Increases and new Commitments created pursuant to this Section 2.24 shall become effective on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Commitments (or in any Commitment of any Lender) shall become effective under this paragraph unless, (1) on the proposed date of the effectiveness of such increase, the conditions set forth in paragraphs (a) and (b) of Section 4.2 shall be satisfied (or waived by the Required Lenders) and the Administrative Agent shall have received a certificate to that effect dated such date and executed by an Authorized Officer of the Borrower and (2) the Administrative Agent shall have received documents consistent with those delivered on the Effective Date as to the corporate power and authority of the Borrower to borrow hereunder after giving effect to such increase, as well as such documents as the Administrative Agent may reasonably request (including, without limitation, customary opinions of counsel and affirmations of Loan Documents and pro forma compliance with the financial covenants set forth in Section 6.19). On the effective date of any increase in the Commitments, (i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other Lenders holding Commitments in the applicable Facility, as being required in order to cause, after giving effect to such increase and the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Revolving Loans and outstanding Term Loans, as applicable, of all the Lenders to equal its Pro Rata Share of such outstanding Revolving Loans and outstanding Term Loans, as applicable, and (ii) the Borrower shall be deemed to have repaid and reborrowed all outstanding Loans under each Facility as of the date of any increase in the Commitments under such Facility (with such reborrowing to consist of the Types of Loans, with related Interest Periods if applicable, specified in a notice delivered by the Borrower, in accordance with the requirements of Section 2.8). The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Eurocurrency Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 3.4 if the deemed payment occurs other than on the last day of the related Interest Periods. Nothing contained in this Section 2.24 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Commitment under any Facility hereunder at any time.

  • 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) If Purchaser's status as a Service Provider is terminated for any reason, including for cause, death, and disability, the Company shall have the right and option to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all of the Purchaser's Unvested Shares as of the date of such termination at the price paid by the Purchaser for such Shares (the "Repurchase Option").

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