Examples of Purchase Option in a sentence
On the Class B Purchase Option Exercise Date, the Class A Lenders shall sell to the Class B Lenders, and the Class B Lenders shall purchase from the Class A Lenders, the Class A Obligations and pay (including by making a Revolving Loan on such day and using the proceeds thereof to pay or causing Collections to be applied, or both) any amounts due in connection with the termination of any Hedging Agreement.
Upon each party’s execution and delivery of this Amendment, Seller and Purchaser agree to simultaneously execute and deliver to the other, and the Escrow Agent, that certain Purchase Option Agreement (the “Purchase Option”) granting Purchaser an option to purchase Seller’s real property located generally at 000 Xxxxxxxxxx Xxxxxx, Xxxxxx Xxxx, Xxxxxxx Xxxxxx, Xxxxxxxx, subject to the terms and provisions of the Purchase Option.
If, for any reason, the Term A Lenders fail to exercise and/or to receive their shares of common stock of the Borrower in connection with that certain Equity Purchase Option set forth in Section 9(a) of the Seaport Loan.
Further, the Senior Lender shall not enter into any agreement or transaction that would have the effect of changing its economic risk with respect to the shares of Pubco Common Stock issued to it in connection with the exercise of the Equity Purchase Option as set forth in Section 9(a) of the Existing Credit Agreement, including through hedging strategies or derivatives, unless expressly authorized in writing by New Borrower.
The management agreement provides that neither the Purchase Option nor the Right of First Refusal are applicable to a foreclosure or deed-in-lieu of foreclosure or the first sale thereafter.