Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are hereby acknowledged, Landlord does hereby give and grant to Tenant the option for Tenant to purchase the Leased Premises (the “Purchase Option”). The purchase price for the Leased Premises under the Purchase Option (the “Purchase Price”) shall be: (b) So long as Tenant is not then in default of this Lease, the Purchase Option is exercisable by Tenant between the following dates: and (the “Exercise Period”). In order for Tenant to exercise the Purchase Option, Tenant shall provide Landlord with written notice of exercise of the Purchase Option at any time during the Exercise Period. Once delivered, the notice of exercise of Purchase Option is irrevocable unless otherwise agreed by Landlord and Tenant. The Purchase Option is not assignable by Tenant. Tenant’s purchase of the Leased Premises pursuant to the Purchase Option shall be governed by the terms of a Real Estate Purchase and Sale Agreement (“PSA”), which shall be negotiated between the parties promptly following Tenant’s exercise of the Purchase Option; provided, however, that if the Purchase Price or methodology for calculating the Purchase Price is specified above, then the Purchase Price in the PSA shall be such amount or based upon such methodology as so specified above. The closing under the PSA shall occur as soon as reasonably practicable following execution of the PSA or as otherwise agreed in the PSA and, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not be subject to any contingencies or a feasibility period. (c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale of the Leased Premises pursuant to the Purchase Option, the parties shall cooperate with one another in order to accomplish such matters and to effectuate the intent of this provision. The costs for such work shall be borne by
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Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are Tenant is hereby acknowledged, Landlord does hereby give and grant to Tenant granted the option for Tenant to purchase the Leased Premises (the “Purchase Option”) all of Landlord’s right, title and interest in and to the Premises on the terms and conditions set forth in this Section 30. The Purchase Option may be exercised by Tenant by delivery of written notice (the “Purchase Notice”) to Landlord, which Purchase Notice must be received by Landlord no later than three (3) months prior to the expiration of the Lease Term. Upon exercise of the Purchase Option by Tenant as set forth above, Landlord agrees to sell to Tenant and Tenant agrees to purchase from Landlord the Premises on the terms and subject to the conditions set forth in this Section 30. If Tenant fails to timely deliver the Purchase Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to Landlord’s receipt of the Purchase Notice, the Purchase Option shall be null and void and of no further force and effect. If Tenant exercises its Purchase Option as provided herein, then Landlord and Tenant shall, within thirty (30) days after such exercise, enter into a mutually acceptable purchase and sale agreement pertaining to the Premises (the “Purchase and Sale Agreement”), reflecting the terms of this Section 30, as well as other customary matters contained in purchase and sale agreements for properties similar to the Premises in the region in which the Premises is located, including, without limitation, that Landlord shall deliver to Tenant, at its sole cost and expense, (i) an updated ALTA survey of the Premises and (ii) an ALTA owner’s title policy (base policy only) in an amount equal to the Purchase Price (as defined below). The parties agree to act reasonably, cooperatively and in good faith in negotiating, executing and delivering the Purchase and Sale Agreement.
(a) The total purchase price for the Leased Premises under the Purchase Option for the Premises (the “Purchase Price”) shall be:be Five Hundred Thousand Dollars ($500,000).
(b) So long The parties shall consummate the purchase and sale of the Premises (the “Closing”) through a title insurance company mutually acceptable to Landlord and Tenant (the “Title Company”). The Closing shall take place on the date sixty (60) days after Tenant’s delivery of the Purchase Notice, or on such other date as is mutually agreed to by Landlord.
(c) Notwithstanding anything herein to the contrary, if Tenant is not then in default of this Lease, exercises the Purchase Option is exercisable by Tenant between the following dates: and (the “Exercise Period”). In order for Tenant to exercise the Purchase Option, Tenant shall provide Landlord with written notice of exercise of the Purchase Option at any time during the Exercise Period. Once deliveredherein granted, the notice Term of exercise this Lease shall be extended through the date of Purchase Option is irrevocable unless otherwise agreed by Landlord and Tenant. The Purchase Option is not assignable by Tenant. Closing of Tenant’s purchase of the Leased Premises pursuant to Premises.
(d) Upon the Purchase Option shall be governed by the terms of a Real Estate Purchase and Sale Agreement (“PSA”)Closing, which shall be negotiated between the parties promptly following Tenant’s exercise without limiting any of the Purchase Optionparties’ respective rights and remedies under this Lease, this Lease shall terminate; provided, however, that if nothing contained herein shall affect the Purchase Price or methodology for calculating parties’ obligations which survive the Purchase Price is specified above, then the Purchase Price in the PSA shall be such amount or based upon such methodology as so specified above. The closing under the PSA shall occur as soon as reasonably practicable following execution termination of the PSA or as otherwise agreed in the PSA andLease.
(e) Upon Tenant’s request, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not execute and cause to be subject to any contingencies or recorded a feasibility period.
(c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale memorandum of the Leased Premises pursuant to the Purchase Option, the parties shall cooperate with one another in order form reasonably acceptable to accomplish such matters Landlord and to effectuate the intent of this provision. The costs for such work shall be borne byTenant.
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Tenant’s Purchase Option. (a) In consideration Subject to the terms and conditions set forth herein, commencing as of the mutual covenants herein containedAmendment Effective Date and continuing through March 27, and for good and valuable consideration of 2026 (the receipt and sufficiency of which are hereby acknowledged“Purchase Option Exercise Deadline”), Tenant shall have the one-time right to send written notice to Landlord does hereby give and grant to Tenant (the option for Tenant “Purchase Option Exercise Notice”) indicating Tenant’s election to purchase the Leased Premises Premises, subject to and in accordance with the provisions of this Section 3 (the “Purchase Option”). The purchase price for For the Leased Premises under avoidance of doubt, in the event that Tenant fails to deliver a Purchase Option Exercise Notice on or before the Purchase Option (Exercise Deadline, the “Purchase Price”) shall be:
(b) So long as Tenant is not then in default provisions of this Lease, the Purchase Option is exercisable by Tenant between the following dates: Section 3 shall be deemed deleted and (the “Exercise Period”). In order for Tenant to exercise the Purchase Option, Tenant shall provide Landlord with written notice of exercise of the Purchase Option at any time during the Exercise Period. Once delivered, the notice of exercise of Purchase Option is irrevocable unless otherwise agreed by Landlord and Tenant. The Purchase Option is not assignable by Tenant. Tenant’s purchase of the Leased Premises pursuant to the Purchase Option shall be governed by deemed terminated, null and void. Furthermore, notwithstanding any provision herein, Tenant shall not have the terms right to exercise the Purchase Option pursuant to this Section 3 so long as Tenant is in default under any provisions of a Real Estate Purchase this Lease and Sale Agreement (“PSA”)until such time as Tenant has cured the specified default to Landlord’s reasonable satisfaction, which shall be negotiated between if such default is susceptible to being cured. In the parties promptly following event that Tenant timely delivers Tenant’s exercise Purchase Option Exercise Notice, then Landlord and Tenant shall negotiate in good faith to enter into a purchase and sale agreement (the “Premises Purchase Agreement”) within thirty (30) days following Landlord’s receipt of the Purchase Option; providedOption Exercise Notice from Tenant, however, that if pursuant to which Landlord shall agree to sell and convey the Purchase Price or methodology Premises to Tenant in accordance with the terms and conditions herein. The purchase price to be paid by Tenant to Landlord for calculating the Purchase Price is specified above, then the Purchase Price in the PSA Premises shall be such the amount or based upon such methodology as so specified above. The corresponding to the time period below during which the closing under the PSA shall occur as soon as reasonably practicable following execution of the PSA or as otherwise agreed in acquisition occurs (the PSA and, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not be subject to any contingencies or a feasibility period.
(c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale of the Leased “Premises pursuant to the Purchase Option, the parties shall cooperate with one another in order to accomplish such matters and to effectuate the intent of this provision. The costs for such work shall be borne byPrice”):
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Samples: Lease Agreement (Vireo Growth Inc.)
Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are hereby acknowledged, Landlord does hereby give and grant to Tenant shall have the option for Tenant to purchase the Leased Premises (from Landlord. If the “Purchase Option”). The option is exercised on or after the 1st anniversary of the Commencement Date, the purchase price for shall be equal to $405,039.00; if exercised on or after the Leased Premises under 2nd anniversary of the Purchase Option (the “Purchase Price”) shall be:
(b) So long as Tenant is not then in default of this LeaseCommencement Date, the Purchase Option is exercisable purchase price shall be equal to $358,913.00; if exercised on or after the 3rd anniversary of the Commencement Date, the purchase price shall be equal to $309,905.00; if exercised on or after the 4th anniversary of the Commencement Date, the purchase price shall be equal to $256573.00; if exercised on or after the 5th anniversary of the Commencement Date, the purchase price shall be equal to $200,357.00; and if exercised on the 6th anniversary of the Commencement Date, the purchase price shall be equal to $138,376.00. Tenant may exercise its option to purchase the Premises only by Tenant between the following dates: and (the “Exercise Period”). In order for Tenant delivering to Landlord a written notice of its intention to exercise the Purchase Optionoption ("Tenant Exercise Notice") at least 60 days prior to the closing date desired by Tenant. The Tenant Exercise Notice must be accompanied by an updated Title Report and Survey, Tenant shall provide Landlord together with written notice of any title objection disclosed thereby or otherwise known to Tenant and which Tenant believes it is not required to take title "subject to." If Tenant exercises its option hereunder, Landlord shall deliver insurable title, subject only to the exceptions as set forth in the Survey and Title Report, not including any exceptions which Landlord agrees to discharge as set forth in section 2.2 hereof Landlord shall take no action after the date hereof which would create any encumbrance or title question. Notwithstanding Tenant's exercise of its option hereunder, this lease shall remain in full force and effect until the Purchase Option closing of title. Tenant may not exercise this option it either at any the time during the Exercise Period. Once delivered, the notice of exercise of Purchase Option is irrevocable unless otherwise agreed by Landlord and Tenant. The Purchase Option is not assignable by Tenant. Tenant’s purchase of the Leased Premises pursuant to Tenant Exercise Notice or at the Purchase Option shall be governed by time of closing of title, there exists any Event of Default or any event which would become an Event of Default after the terms giving of a Real Estate Purchase and Sale Agreement (“PSA”), which shall be negotiated between notice and/or the parties promptly following Tenant’s exercise lapse of the Purchase Option; provided, however, that if the Purchase Price or methodology for calculating the Purchase Price is specified above, then the Purchase Price in the PSA shall be such amount or based upon such methodology as so specified abovetime. The closing under of title shall terminate this lease and the PSA shall occur as soon as reasonably practicable following execution of the PSA or as otherwise agreed in the PSA and, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not be subject to any contingencies or a feasibility period.
(c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale of the Leased Premises pursuant to the Purchase Option, the parties shall cooperate with one another in order to accomplish such matters and to effectuate the intent of this provision. The costs for such work date thereof shall be borne bydeemed the Termination Date. TIME IS OF THE ESSENCE WITH RESPECT TO THE GIVING OF THE TENANT EXERCISE NOTICE HEREUNDER STRICTLY IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 9.
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Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are hereby acknowledged, Landlord does hereby give and grant to Tenant shall have the option for Tenant to purchase the Leased Premises (from Landlord. If the “Purchase Option”). The option is exercised on or after the 1st anniversary of the Commencement Date, the purchase price for shall be equal to $405,039.00; if exercised on or after the Leased Premises under 2nd anniversary of the Purchase Option (the “Purchase Price”) shall be:
(b) So long as Tenant is not then in default of this LeaseCommencement Date, the Purchase Option is exercisable purchase price shall be equal to $358,913.00; if exercised on or after the 3rd anniversary of the Commencement Date, the purchase price shall be equal to $309,905.00; if exercised on or after the 4th anniversary of the Commencement Date, the purchase price shall be equal to $256,573.00; if exercised on or after the 5th anniversary of the Commencement Date, the purchase price shall be equal to $200,357.00; and if exercised on the 6th anniversary of the Commencement Date, the purchase price shall be equal to $138,376.00. Tenant may exercise its option to purchase the Premises only by Tenant between the following dates: and (the “Exercise Period”). In order for Tenant delivering to Landlord a written notice of its intention to exercise the Purchase Optionoption ("Tenant Exercise Notice") at least 60 days prior to the closing date desired by Tenant. The Tenant Exercise Notice must be accompanied by an updated Title Report and Survey, Tenant shall provide Landlord together with written notice of any title objection disclosed thereby or otherwise known to Tenant and which Tenant believes it is not required to take title "subject to." If Tenant exercises its option hereunder, Landlord shall deliver insurable title, subject only to the exceptions as set forth in the Survey and Title Report, not including any exceptions which Landlord agrees to discharge as set forth in section 2.2 hereof. Landlord shall take no action after the date hereof which would create any encumbrance or title question. Notwithstanding Tenant's exercise of its option hereunder, this lease shall remain in full force and effect until the Purchase Option closing of title. Tenant may not exercise this option if, either at any the time during the Exercise Period. Once delivered, the notice of exercise of Purchase Option is irrevocable unless otherwise agreed by Landlord and Tenant. The Purchase Option is not assignable by Tenant. Tenant’s purchase of the Leased Premises pursuant to Tenant Exercise Notice or at the Purchase Option shall be governed by time of closing of title, there exists any Event of Default or any event which would become an Event of Default after the terms giving of a Real Estate Purchase and Sale Agreement (“PSA”), which shall be negotiated between notice and/or the parties promptly following Tenant’s exercise lapse of the Purchase Option; provided, however, that if the Purchase Price or methodology for calculating the Purchase Price is specified above, then the Purchase Price in the PSA shall be such amount or based upon such methodology as so specified abovetime. The closing under of title shall terminate this lease and the PSA shall occur as soon as reasonably practicable following execution of the PSA or as otherwise agreed in the PSA and, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not be subject to any contingencies or a feasibility period.
(c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale of the Leased Premises pursuant to the Purchase Option, the parties shall cooperate with one another in order to accomplish such matters and to effectuate the intent of this provision. The costs for such work date thereof shall be borne bydeemed the Termination Date. TIME IS OF THE ESSENCE WITH RESPECT TO THE GIVING OF THE TENANT EXERCISE NOTICE HEREUNDER STRICTLY IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 9.
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Samples: Lease Agreement (Rti Inc)
Tenant’s Purchase Option. (a) In consideration of the mutual covenants herein contained, and for good and valuable consideration of the receipt and sufficiency of which are hereby acknowledgedTenant entering into this Lease, Landlord does hereby give and grant to grants Tenant the right to purchase fee simple title to the Leased Premises at any time during the initial or any extended term of this Lease for a total aggregate price of $________ (the "Stated Price') or the appraised price provided below; provided Tenant is not in default under this Lease at the time it exercises said option. In the event Tenant desires to so execute this option for to purchase the Leased Premises, it shall so notify Landlord of its intent to so purchase. The notice to Landlord shall state whether or not Tenant is willing to purchase the Leased Premises at the Stated Price. If Tenant is not willing to purchase the Leased Premises at the Stated Price, Tenant shall set forth in the notice the price it is willing to pay (the “Purchase Option”). The purchase price "Suggested Price") for the Leased Premises under the Purchase Option (the “Purchase Price”) shall be:
(b) So long as Premises. If Tenant is not then in default of this Lease, the Purchase Option is exercisable by Tenant between the following dates: and (the “Exercise Period”). In order for Tenant Landlord are willing to exercise the Purchase Option, Tenant shall provide Landlord with written notice of exercise of the Purchase Option at any time during the Exercise Period. Once delivered, the notice of exercise of Purchase Option is irrevocable unless otherwise agreed by Landlord purchase and Tenant. The Purchase Option is not assignable by Tenant. Tenant’s purchase of sell the Leased Premises pursuant to at the Purchase Option shall be governed by the terms of a Real Estate Purchase and Sale Agreement (“PSA”), which shall be negotiated between the parties promptly following Tenant’s exercise of the Purchase Option; provided, however, that if the Purchase Stated Price or methodology for calculating the Purchase Price is specified aboveSuggested Price, then the Purchase Price in the PSA shall be such amount or based upon such methodology as so specified above. The closing under the PSA shall occur as soon as reasonably practicable following execution of the PSA or as otherwise agreed in the PSA and, unless otherwise mutually agreed by Landlord and Tenant in the PSA, shall not be subject to any contingencies or a feasibility period.
(c) If any legal subdivision, condominium creation, re-zoning, legal description preparation or other engineering work, or other steps are necessary or appropriate in connection with any sale of the Leased Premises pursuant shall be completed as set forth in Section 14.03. if Landlord does not agree to sell the Leased Premises for the Stated Price or the Suggested Price, Landlord shall give Tenant notice of such refusal. Tenant shall then have the Leased Premises appraised ("Tenant's Appraisal") and deliver the written appraisal to Landlord. If Landlord is not willing to sell the Leased Premises at the value shown in Tenant's Appraisal, Landlord shall have the Leased Premises appraised ("Landlord's Appraisal"). If the value of the Leased Premises shown in Landlord's Appraisal is within five percent (5.0%) of the value shown in Tenant's Appraisal, the purchase price of the Leased Premises shall be equal to the Purchase Optionaverage of the two (2) appraisals. If there is more than five percent (5.0%) variance between the two (2) appraisals, then the parties shall cooperate with one another in order to accomplish such matters and to effectuate the intent of this provision. The costs for such work shall be borne bytwo (2) appraisers
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