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. §▇▇-▇▇▇-▇▇ 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

  • First option to purchase Link's ownership position and interest in Big Tex has been granted to another owner of Big Tex.

Related to First option to purchase

  • Option to Purchase means a contract by which a local agency enters an agreement with another entity to allow the latter to purchase surplus land at a specified price, or within a reasonable time in the future, but without imposing an obligation to purchase upon the option holder.

  • Notice of Election to Purchase has the meaning assigned to such term in Section 15.1(b).

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

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