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

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default under Section 16.1(e) (change of control of Tenant), Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e). Upon exercise of this option, with respect to the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms set forth herein. Upon exercise of this option, with respect to the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than change in control), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing.

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default under Section 16.1(e) (change of control of Tenant), Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e). Upon exercise of this option, with respect to the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms set forth herein. Upon exercise of this option, with respect to the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than change in control), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing. (i) The Purchase Price for the Landlord’s interest in the Premises shall be determined in the same manner as provided in Section 12.2 (i), hereof. (ii) The entire purchase price shall be paid in full, by certified or cashier’s check made payable the Landlord, or by wire transfer of funds to a bank account designated by the Landlord, at closing. It is intended that the Purchase Price paid to the Landlord hereunder be net of any and all conveyance fees and transaction costs other than the Landlord’s attorneys’ fees. Therefore, in addition to the Purchase Price, Tenant shall pay all costs of assuming the Project Financing (or all costs and prepayment charges, if any, if Tenant does not assume the Project Financing and pays off the Project Financing) and all other fees and expenses conveying fee title to the Premises, including, but not limited to, state and local transfer fees, recording costs and title insurance premiums otherwise typically the responsibility of a seller, provided that each party shall pay its own attorneys’ fees.

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default exercises its right to terminate this Lease under Section 16.1(e) (change of control of Tenant)13.1, Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e)termination. Upon exercise of this optionOption, with respect to purchasing the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms term set forth herein. Upon exercise of this optionOption, with respect to purchasing the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing. (i) The Purchase Price for the Landlord’s interest in the Premises or the Members’ interests in the Landlord shall be determined in the same manner as provided in Section 12.2 (i), hereof.

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default exercises its right to terminate this Lease under Section 16.1(e) (change of control of Tenant)12.1, Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e)termination. Upon exercise of this option, Option with respect to the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms term set forth herein. Upon exercise of this option, Option with respect to the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing.

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default exercises its right to terminate this Lease under Section 16.1(e) (change of control of Tenant)12.1, Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e)termination. Upon exercise of this option, Option with respect to the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms term set forth herein. Upon exercise of this option, Option with respect to the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing.. (i) The Purchase Price for the Landlord’s interest in the Premises or the Members’ interests in the Landlord shall be equal to the sum of (A) the product of (i) $10,970,000.00 multiplied by (ii) the percentage set forth on Exhibit D attached hereto for the applicable Purchase Date minus, if the Project Financing (as hereinafter defined) is assumed by Tenant, (B) the then outstanding principal balance due under the Project Financing, plus (C) any other costs incurred by the Landlord of a capital nature in connection with the ownership of the Premises not

TENANT'S OPTION TO PURCHASE. If Landlord does not waive a default exercises its right to terminate this Lease under Section 16.1(e) (change of control of Tenant)13.1, Tenant shall have the option to purchase the Premises from Landlord or all of the Members’ interests in Landlord by giving Landlord written notice of exercise within fifteen (15) days after receipt of Landlord’s notice of a default hereunder pursuant to Section 16.1(e)termination. Upon exercise of this optionOption, with respect to purchasing the Premises, the Tenant shall be obligated to purchase from the Landlord and the Landlord shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Landlord’s right, title and interest in the Premises for the price and upon the terms term set forth herein. Upon exercise of this optionOption, with respect to purchasing the Members’ interests in the Landlord, the Tenant shall be obligated to purchase from the Members and the Members shall be obligated to convey to the Tenant, and/or one or more designee of Tenant, all of the Members’ right, title and interest in the Landlord for the price and upon the terms term set forth herein. Tenant’s right to exercise this option hereunder shall be contingent upon Tenant not being in default (other than excluding any “change in control” default under Section 16.1(e)), beyond any applicable grace period, under any other provision of this Lease either at the time of exercise of this option or at the time of closing.