Land Option Agreement definition

Land Option Agreement means that certain Land Option Agreement to be entered into concurrently with the Option Agreement as a condition to the Construction Start Date, in the form set forth in Appendix O, granting Buyers the right to purchase the real property interests to be owned by LandCo LLC.
View Source
Land Option Agreement means, for any parcel of land, an agreement under which the registered title holder of such parcel has granted the Proponent or the Resource Provider an option to purchase or lease such parcel upon the award by PREPA of a Contract for the implementation of a proposed project in form and substance reasonably satisfactory to PREPA;
View Source
Land Option Agreement means, for any parcel of land, an agreement under which the registered title holder of rights upon such parcel has granted the Resource Provider an option to purchase or lease such parcel, or to grant surface rights, upon the award by PREPA of a Contract for implementing a proposed project in form and substance reasonably satisfactory to the Selection Committee;
View Source

Examples of Land Option Agreement in a sentence

  • For purposes of this Agreement, the "Land Option Agreement" shall be deemed to include the purchase and sale agreement, if any, executed and delivered pursuant thereto.

  • Any modifications or amendments to this Agreement, the Option Agreement, or the Land Option Agreement to accommodate the technical requirements of such Qualified Buyer Assignee (including as they relate to transmission and scheduling) shall require the consent of Seller, which consent shall not be unreasonably withheld.

  • Except as amended hereby, all of the terms and conditions of the Land Option Agreement shall remain in effect, and the Land Option Agreement, as amended by this Amendment No. 2, is hereby in all respects ratified and confirmed.

  • THAT, this Memorandum shall automatically terminate upon the recordation of a release as described in the Vacant Land Option Agreement.

  • For avoidance of doubt, if Fee Secured Party exercises the Land Purchase Option to purchase the Property pursuant to the Land Option Agreement, Fee Secured Party shall take title to the Property subject to the terms and conditions of the Lease, this Agreement and any amendment or modification thereof in effect as of the time when such purchase is consummated.

  • THAT, by that certain Vacant Land Option Agreement of even date herewith by and between Seller and Purchaser (the "Agreement"), Seller has granted to Purchaser, and Purchaser has acquired from Seller, an exclusive option to acquire the real estate described on Exhibit I attached hereto and made a part hereof (the "Property") upon the terms and subject to the conditions set forth in the Agreement.

  • The failure of Seller to execute and deliver both the Option Agreement and the Land Option Agreement by the Site Control Milestone Date (as may be extended pursuant to Section 3.6(b)).

  • The PPA, Option Agreement, Land Option Agreement, and Gen-tie License Agreement were executed on August 25, 2014.

  • WCP is not in monetary default or, to Seller's knowledge, material non-monetary default under the Prudential Loan or the Land Option Agreement.

  • Either (i) Seller breaches any of its obligations under Section 12.4, which breach is not cured within ten (10) days after receipt of notice thereof from Buyers’ Agent, other than a breach of Seller’s obligations under Section 12.4(c), which shall immediately trigger a Default hereunder, or (ii) so long as LandCo LLC is an Affiliate of Seller, LandCo LLC breaches its obligations under the Land Option Agreement and such breach is not cured within the time periods set forth in the Land Option Agreement.