Examples of Early Repurchase in a sentence
If BNSF decides not to purchase the Building upon a given Early Repurchase Event, BNSF's Early Repurchase Right shall continue and BNSF shall still have the option to repurchase the Building upon a subsequent Early Repurchase Event.
In addition, even prior to the expiration of the scheduled term of the Land Lease, Tenant has the right to purchase the Building upon the occurrence of certain Early Repurchase Events (as defined in the Contract).
In the event of an Early Repurchase Event (as defined below), BNSF shall have the right to repurchase the Building from City at any time during the term under the Land Lease (the "Early Repurchase Right").
BNSF will have until thirty (30) days after the Trigger Date (as hereinafter defined) to decide whether or not to exercise its Early Repurchase Right to purchase the Building and to provide City with written notice of its decision (the "Exercise Notice").
Until the Early Repurchase Option is exercised by City by delivering a writing to Developer so indicating following the nine-month deadline hereunder, Developer may cure by compliance with this provision.
As used herein the "Trigger Date" shall mean, as applicable: (1) the date on which BNSF has received a Contemplated Transfer Notice with respect to an Early Repurchase Event under Section 9(b)(i) above or (2) such date as BNSF determines that a Renovation Failure has occurred or a Railroad Need exists with respect to an Early Repurchase Event under Section 9(b)(ii) or (iii) above.
In addition to BNSF's Early Repurchase Right, BNSF shall have the right and option ("End of Term Repurchase Right") to repurchase the Building from City upon expiration of the term of the Land Lease (whether as a result of the expiration of the scheduled term thereunder or an early termination as provided therein, including an early termination as a result of the BNSF Premises Lease being terminated as a result of a Taking as defined and described in the BNSF Premises Lease) ("Land Lease Expiration").
If City does not exercise the Option or Early Repurchase Option within the Option Term or Early Repurchase Term, the Option or Early Repurchase Option, respectively, shall terminate automatically terminate.
City’s rights to the TOT Guarantee and Early Repurchase Option under this Agreement, including without limitation City’s rights to receive the payments of the Application TOT Payment, Building Permits TOT Payment or Construction TOT Payment, as provided in Section 7.2, shall not be subordinated to the rights of any person or entity of any kind (“Person”) holding an encumbrance, lien, or other interest in the Property of any type or any kind (collectively, “Encumbrance”).
If the Option or Early Repurchase Option is terminated after recordation of the Option Memorandum, City shall promptly deliver to Owner an executed and acknowledged document to terminate the Option Memorandum in a form acceptable to a reputable title company ("Option Termination Agreement").