Common Contracts
2 similar Master Lease Agreement contracts by Santa Fe Gaming Corp
THIS PURCHASE/RENEWAL OPTION IS ATTACHED TO AND MADE A PART OF LEASE SCHEDULE NO. 1 AND THE MASTER LEASE AGREEMENT ("LEASE") BETWEEN C J CLASSICS, INC. DBA C J'S SLOT CONNECTION, A NEVADA CORPORATION ("LESSOR"), AND PIONEER HOTEL, INC., A NEVADA...Master Lease Agreement • December 30th, 1996 • Santa Fe Gaming Corp • Services-miscellaneous amusement & recreation
If Lessee has not been in default under the terms of the Lease, at the expiration of the Term, Lessor grants Lessee an option to (a) purchase (the "Purchase Option") all but not less than all of the Equipment described on the above Lease Schedule for the sum equal to the fair market value of the Equipment as of the date of expiration of the Term as determined by an independent appraiser mutually selected by Lessor and Lessee (the "Exercise Price") or (b) renew the Lease Term for a period of one year (the "Renewal Option"). A written notice of exercise of the Purchase Option or the Renewal Option must be given by Lessee 120 days prior to the expiration of the Term or any renewal term. Upon timely receipt of such notice of exercise, receipt of the payment of all Rent due under the Lease and/or payment of the Exercise Price, Lessor will, with exercise of the purchase option, execute and deliver to Lessee a Bill of Sale for the Equipment described in the Lease Schedule. Upon failure of the
Exhibit 10.73 PURCHASE/RENEWAL OPTION TO LEASE SCHEDULE NO. 1Master Lease Agreement • December 30th, 1996 • Santa Fe Gaming Corp • Services-miscellaneous amusement & recreation
If Lessee has not been in default under the terms of the Lease, at the expiration of the Term, Lessor grants Lessee an option to (a) purchase (the "Purchase Option") all but not less than all of the Equipment described on the above Lease Schedule for the sum equal to the fair market value of the Equipment as of the date of expiration of the Term as determined by an independent appraiser mutually selected by Lessor and Lessee (the "Exercise Price") or (b) renew the Lease Term for a period of one year (the "Renewal Option"). A written notice of exercise of the Purchase Option or the Renewal Option must be given by Lessee 120 days prior to the expiration of the Term or any renewal term. Upon timely receipt of such notice of exercise, receipt of the payment of all Rent due under the Lease and/or payment of the Exercise Price, Lessor will, with exercise of the purchase option, execute and deliver to Lessee a Bill of Sale for the Equipment described in the Lease Schedule. Upon failure of the
