First option to purchase definition

First option to purchase means the right of a CLT to purchase, at a formula‑determined price, any improvements, leasehold interests or any other interests of a lessee of property the underlying title of which is vested in the CLT, or which is the subject of restrictive covenants as to continued affordability, which covenants are enforceable by the CLT.
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First option to purchase of the Kaka`ako Reserved Housing Rules, which section is hereby expressly incorporated into this Deed by this reference. §00-000-00 of the Kaka`ako Reserved Housing Rules provides, in its entirety, as follows:
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Examples of First option to purchase in a sentence

  • The Lessor may then exercise the First Option to Purchase at the offer price in the Seller Letter.

  • The Lessor shall retain the First Option to Purchase all buildings and improvements on the Leasehold.

  • The Lessee shall notify the Lessor of intent with regard to this responsibility within 30 days following termination, at which time the Lessor shall have the First Option to Purchase as described above.

Related to First option to purchase

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Stock Purchase Right means a right to purchase Common Stock pursuant to Section 11 below.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • Option Period means the period during which an Option may be exercised.

  • Put Option Notice means a notice which must be delivered to a Paying Agent by any Noteholder wanting to exercise a right to redeem a Note at the option of the Noteholder;

  • Director Option means an Option granted pursuant to Section 6.

  • Option Purchase Price has the meaning set forth in Section 9.36(b) hereof.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.