Common use of Tenant’s Purchase Option Clause in Contracts

Tenant’s Purchase Option. Tenant shall have the option (the “Purchase Option”), at any time during the Term following the earlier of (x) Landlord’s completion of construction of the Tower (as more particularly described on Schedule 7.1, the “Tower”) and (y) Landlord’s fulfillment of its obligations under California Law to ensure that the Improvements, including the Tower, are fully compliant with any Laws relating to seismic performance standards (“Seismic Compliance”), to purchase the Fee Estate from Landlord at a purchase price equal to the Market Value for the Fee Estate (the “Purchase Option Price”), provided that the Purchase Option Price exceeds the indebtedness then outstanding under the Bonds, on the following terms and conditions:

Tenant’s Purchase Option. ‌ . Tenant shall have the option (the “Purchase Option”), at any time during the Term following the earlier of (x) Landlord’s completion of construction of the Tower (as more particularly described on Schedule 7.1, the “Tower”) and (y) Landlord’s fulfillment of its obligations under California Law to ensure that the Improvements, including the Tower, are fully compliant with any Laws relating to seismic performance standards (“Seismic Compliance”), to purchase the Fee Estate from Landlord at a purchase price equal to the Market Value for the Fee Estate (the “Purchase Option Price”), provided that the Purchase Option Price exceeds the indebtedness then outstanding under the Bonds, on the following terms and conditions:

Tenant’s Purchase Option. Tenant shall have the option (the “Purchase Option”), at any time during the Term following the earlier of (x) Landlord’s completion of construction of the Tower (as more particularly described on Schedule 7.1, the “Tower”) and (y) Landlord’s fulfillment of its obligations under California Law to ensure that the Improvements, including the Tower, are fully compliant with any Laws relating to seismic performance standards (“Seismic Compliance”), to purchase the Fee Estate from Landlord at a purchase price equal to the Market Value for the Fee Estate (the “Purchase Option Price”), provided that the Purchase Option Price exceeds the indebtedness then outstanding under the Bonds, on the following terms and conditions: