Common use of TENANT'S OPTION TO PURCHASE Clause in Contracts

TENANT'S OPTION TO PURCHASE. Provided Tenant is not in default beyond all notice and applicable cure periods hereunder, Tenant shall have the right to purchase the Premises at any time during the Term, including any Extension Term, of this Lease upon giving notice in writing to Landlord (the “Purchase Notice”) at least ninety (90) days prior to the expiration of the initial Term or any Extension Term hereof of Tenant’s intention to purchase the Premises. If Tenant exercises this Option to Purchase, then Tenant shall purchase and Landlord shall sell the Premises upon the terms and conditions set forth on the Terms for Sale and Purchase attached hereto as Exhibit “G” (the “Purchase Terms”). Upon the closing of title pursuant to the above-mentioned Purchase Terms, this Lease shall terminate and end. The purchase price for the Premises (“Purchase Price”) shall be determined by agreement of the Landlord and Tenant, or, if the Landlord and Tenant fail to reach an agreement within fifteen (15) days of the Tenant’s Purchase Notice, then by the procedure set forth on the Purchase Terms. The option to purchase shall expire without notice upon the termination of this Lease unless the option was exercised prior to such termination, provided that this option to purchase shall continue after any amendment, continuation or reinstatement of this Lease.

Appears in 3 contracts

Samples: Lease Termination Agreement (Nationsrent Inc), Lease Termination Agreement (Nationsrent Inc), Lease Agreement (Nationsrent Inc)

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TENANT'S OPTION TO PURCHASE. Provided Tenant is not in default beyond all notice and applicable cure periods hereunder, Tenant shall have the right to purchase the Premises at any time during after the Term, including any Extension Term, of this Lease fifth (5) lease year upon giving notice in writing to Landlord (the “Purchase Notice”) at least ninety (90) days prior to the expiration of the initial original Term or any Extension Term hereof of Tenant’s intention to purchase the Premises. If Tenant exercises this Option to Purchase, then Tenant shall purchase and Landlord shall sell the Premises upon the terms and conditions set forth on the Terms for Sale and Purchase attached hereto as Exhibit “GD” (the “Purchase Terms”). Upon the closing of title pursuant to the above-mentioned Purchase Terms, this Lease shall terminate and end. The purchase price for the Premises (“Purchase Price”) shall be determined by agreement of the Landlord and Tenant, or, if the Landlord and Tenant fail to reach an agreement within fifteen (15) days of the Tenant’s Purchase Notice, then by the procedure set forth on the Purchase Terms. The option to purchase shall expire without notice upon the final termination of this Lease unless the option was exercised prior to such termination, provided that this option to purchase shall continue after any amendment, continuation or reinstatement of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Nationsrent Inc), Lease Agreement (Nationsrent Inc)

TENANT'S OPTION TO PURCHASE. Provided Tenant is not in default beyond all notice and applicable cure periods hereunder, Tenant shall have the right to purchase the Premises at any time during the Term, including any Extension Term, of this Lease upon giving notice in writing to Landlord (the "Purchase Notice") at least ninety (90) days prior to the expiration of the initial Term or any Extension Term hereof of Tenant’s 's intention to purchase the Premises. If Tenant exercises this Option to Purchase, then Tenant shall purchase and Landlord shall sell the Premises upon the terms and conditions set forth on the Terms for Sale and Purchase attached hereto as Exhibit “G” "H" (the "Purchase Terms"). Upon the closing of title pursuant to the above-mentioned Purchase Terms, this Lease shall terminate and end. The purchase price for the Premises ("Purchase Price") shall be determined by agreement of the Landlord and Tenant, or, if the Landlord and Tenant fail to reach an agreement within fifteen (15) days of the Tenant’s 's Purchase Notice, then by the procedure set forth on the Purchase Terms. The option to purchase shall expire without notice upon the termination of this Lease unless the option was exercised prior to such termination, provided that this option to purchase shall continue after any amendment, continuation or reinstatement of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Nationsrent Inc), Lease Agreement (Nationsrent Inc)

TENANT'S OPTION TO PURCHASE. Provided Tenant is not in default beyond all notice and applicable cure periods hereunder, Tenant shall have the right to purchase the Premises at any time during after the Term, including any Extension Term, of this Lease fifth (5) lease year upon giving notice in writing to Landlord and Fee Owners (hereinafter defined) (the "Purchase Notice") at least ninety (90) days prior to the expiration of the initial original Term or any Extension Term hereof of Tenant’s 's intention to purchase the Premises. If Tenant exercises this Option to Purchase, then Tenant shall purchase and Landlord and Fee Owners shall sell the Premises upon the terms and conditions set forth on the Terms for Sale and Purchase attached hereto as Exhibit “G” "D" (the "Purchase Terms"). Upon the closing of title pursuant to the above-mentioned Purchase Terms, this Lease shall terminate and end. The purchase price for the Premises ("Purchase Price") shall be determined by agreement of the Landlord Landlord, Tenant and TenantFee Owners, or, if the Landlord Landlord, Tenant and Tenant Fee Owners fail to reach an agreement within fifteen (15) days of the Tenant’s 's Purchase Notice, then by the procedure set forth on the Purchase Terms. The option to purchase shall expire without notice upon the final termination of this Lease unless the option was exercised prior to such termination, provided that this option to purchase shall continue after any amendment, continuation continuation, or reinstatement of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Nationsrent Inc), Lease Agreement (Nationsrent Inc)

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TENANT'S OPTION TO PURCHASE. Provided Tenant is not in default beyond all notice and applicable cure periods hereunder, Tenant shall have the right to purchase the Premises at any time during the Term, including any Extension Term, of this Lease upon giving notice in writing to Landlord (the “Purchase Notice”) at least ninety (90) days prior to the expiration of the initial Term or any Extension Term hereof of Tenant’s intention to purchase the Premises. If Tenant exercises this Option to Purchase, then Tenant shall purchase and Landlord shall sell the Premises upon the terms and conditions set forth on the Terms for Sale and Purchase attached hereto as Exhibit “GH” (the “Purchase Terms”). Upon the closing of title pursuant to the above-mentioned Purchase Terms, this Lease shall terminate and end. The purchase price for the Premises (“Purchase Price”) shall be determined by agreement of the Landlord and Tenant, or, if the Landlord and Tenant fail to reach an agreement within fifteen (15) days of the Tenant’s Purchase Notice, then by the procedure set forth on the Purchase Terms. The option to purchase shall expire without notice upon the termination of this Lease unless the option was exercised prior to such termination, provided that this option to purchase shall continue after any amendment, continuation or reinstatement of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Nationsrent Inc)

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