FIRST RIGHT TO PURCHASE Sample Clauses

FIRST RIGHT TO PURCHASE. Provided that the Lessee then occupies not less than fifty percent (50%) of the total rentable area of the Building, in the event that the Lessor desires to sell the Building, the Project and the other improvements on the property of which the Building is a part (the "Property"), the Lessor shall give written notice to the Lessee of its intention to offer the Building and the Project specifying the price and terms to be offered by the Lessor. The Lessee shall have thirty (30) days from receipt of such notice to negotiate and execute a purchase agreement to purchase the Property on the offered terms or on other terms acceptable to the Lessor, which purchase shall close within one hundred eighty (180) days from the date of the Lessor's notice to the Lessee. In the event that a purchase agreement is not executed within such thirty (30) day period, the Lessor may market the Property for sale to any third party; provided, however, that the Lessor shall not be entitled to sell the Property to any third party for a price more than ten percent (10%) less than the price offered to the Lessee without again offering to the Lessee the right to purchase the Property in the manner described above, but at the reduced price that the Lessor desires to accept.

FIRST RIGHT TO PURCHASE. (a) If at any time the Lessor intends to sell the Property, then the Lessor must grant DHA a first right to purchase the Property on the terms set out in this clause 13.1. (b) The Lessor must give DHA written notice of its intention to sell the Property (“Sale Notice”). (c) The Sales Notice must: (i) include the terms and conditions for the sale of the Property; and (ii) provide DHA with 30 days to give the Lessor written notice that it will purchase the Property (“the Sales Notice Period”). (d) In the event that the Lessor provides DHA with written evidence of financial hardship, DHA may, in its absolute discretion, agree in writing to reduce the Sales Notice Period. (e) During the Sales Notice Period, the Lessor and DHA, acting reasonably, must agree in writing on the purchase price for the Property (“Purchase Price”). (f) In the event that the Lessor and DHA cannot agree to a Purchase Price within 14 days of the date DHA receives the Sales Notice, then the Purchase Price is to be determined by an independent market valuation prepared by a qualified valuer with no less than 5 years’ experience (“Market Valuation”). (g) The Lessor is responsible for the costs of the Market Valuation. (h) In the event that the Market Valuation is not obtained prior to the expiration of the Sales Notice Period, the Lessor and DHA agree that the Sales Notice Period will be extended to the date that is 7 days following the date of the Market Valuation. (i) If DHA gives the Lessor written notice that it will purchase the Property during the Sales Notice Period, then at that time the Lessor must issue a contract for the sale of the Property to DHA (“the Contract”). (j) The Contract must include: (i) the Purchase Price as determined in accordance with clause 13.1(e) or clause 13.1(f); (ii) DHA’s standard special conditions which are to be provided by DHA to the Lessor at the time written notice is given to the Lessor under clause 13.1(i); and (iii) any other the agreed special conditions.

FIRST RIGHT TO PURCHASE. Effective May 1, 1990, during the Term of the Lease, Tenant has a one time Right of First Refusal to purchase the building. If there shall be an immediate prospect to purchase the building, Landlord shall give Tenant written notice thereof specifying the terms of such a sale. On receipt of such notice, and provided Tenant has not committed an act of default under this lease, Tenant shall have the option of purchasing the building at the terms offered by the Prospect. Tenant's Right of First Refusal shall be exercised by written notice from Tenant to Landlord, given within five (5) business days after receipt of notice from the Landlord. The failure of the Tenant to exercise this option in the time period specified shall be conclusively deemed a Waiver of Tenants's First Right to Purchase for the remainder of the Lease Term. Initials CTC DRB FIRST ADDENDUM TO LEASE PAGE FOUR

FIRST RIGHT TO PURCHASE. (a) Except as provided in section 8.2, if at any time a Partner (the “Offering Partner”) shall desire to transfer all or any portion of its Partnership Interest, either directly or through sale of an interest in such Partner, the Offering Partner shall give to the other Partners (the “Non-Offering Partners”) a notice (an “Offering Notice”) of the interest to be sold (the “Offered Interest”), the price (which shall be a dollar sum), and all other terms of sale. Each Non-Offering Partner shall have the right, irrevocable for a period of 45 days after the giving of the Offering Notice (the “Offer Period”) to purchase the entire Offered Interest specified in the Offering Notice at the price and upon the terms set forth therein. (b) If a Non-Offering Partner shall elect to exercise its right to purchase, notice of such election (an “Election Notice”) shall be given to the Offering Partner within the Offer Period, which Election Notice shall specify a closing date not less than fifteen (15) or more than thirty (30) Days after the giving thereof, and on the date so specified the Offering Partner shall sell, and the Non-Offering Partner shall purchase, the interest specified in the Offering Notice at the price and upon the terms set forth therein. In the event that more than one Non-Offering Partner gives such an Election Notice, then each such Non-Offering Partner shall be entitled to purchase a portion of such Offered Interest equal to the ratio which its Partnership Interest bears to the aggregate Partnership Interests of all such Non-Offering Partners. Notwithstanding anything to the contrary in this Section 8.3, each of the Non-Offering Partners may deliver an Election Notice with respect to any portion of the Offered Interest provided that the sum of the portions specified in each such Election Notice is equal to the entire Offered Interest. (c) If a right to purchase pursuant to the foregoing paragraphs (a) or (b) shall not be exercised within the Offer Period or shall be waived, the Offering Partner thereafter may sell the interest specified in the Offering Notice at a price equal to or greater than that offered pursuant to (a) and upon terms not materially different than the terms set forth in the Offering Notice. However, if the interest specified in the Offering Notice is not so sold within one year after the giving of the Offering Notice, or if the Offering Partner elects to sell the interest at a lower price than specified in the Offering Notice or up...

FIRST RIGHT TO PURCHASE. 37 13.3 Transfers to Foreign Persons................................................... 38 13.4 Right of First Offer Upon Sale of a Property................................... 38 13.5

FIRST RIGHT TO PURCHASE. During the Purchaser’s period of ownership of the First Right to Purchase Lands, CH or CVCA, as the case may be depending on the Lands in question (hereinafter referred to as the “Authority” for the purposes of this Section), shall have the ongoing first right to purchase such Lands on the following terms and conditions: (1) In the event that, at any time and from time to time during the Purchaser’s period of ownership of the First Right to Purchase Lands, the Purchaser declares any part of the First Right to Purchase Lands to be surplus or if the Purchaser otherwise intends to offer for sale, sell, transfer, convey or otherwise dispose of said lands (collectively, the “Proposed Conveyance”) to any person other than a local board of the Purchaser as defined in the ▇▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇, S.O. 2001, c.25, as amended, or any successor legislation thereto, which local board’s mandate is the management, upkeep and maintenance of the Town’s system of parks and/or recreational facilities, the Purchaser shall give notice of such Proposed Conveyance in writing to the appropriate Authority (the “Proposed Conveyance Notice”), which notice shall set out the particulars of the Lands which are the subject of the Proposed Conveyance (the “Disposition Lands”). (2) The Purchaser and the Authority covenant and agree that following receipt of the Proposed Conveyance Notice: (a) the Authority shall have six (6) months to elect to acquire all or part of the Disposition Lands by delivering a notice of election in writing to the Purchaser (the “Election”); (b) the Authority may perform such due diligence as the Authority deems necessary during said six (6) month period including, without limitation, inspections, appraisals, valuations and environmental testing of the Disposition Lands; and (c) Prior to the expiry of the said six (6) month period, the Purchaser and the Authority shall complete an appraisal or valuation of the Valuation Lands (as defined below) pursuant to Section 8.2(4)(e) below. (3) In the event the Authority does not elect to purchase the Disposition Lands or fails to deliver the Election within the above mentioned six (6) month period, the Authority shall be deemed to have waived its rights under this Section with respect to the Disposition Lands and the Purchaser shall be permitted to offer the Disposition Lands for sale and any offer or agreement of the Disposition Lands shall include a clause whereby the purchaser of the Disposition Lands agrees to execute an...

FIRST RIGHT TO PURCHASE. In the event that during the term of the Agreement or any extension thereof. RBC elects to sell the RBC Property and Facility, ST. ▇▇▇▇▇ shall have the first right to purchase the RBC Property and Facility on terms and conditions mutually agreed upon by the parties. RBC shall give ST. BARTS written notice of its intent to sell the property and ST. BARTS shall have a period of thirty (30) days [which may be extended to sixty (60) days at the sole option of RBC] following receipt of RBC’s notice of intent to sell the property to consummate the purchase of the RBC Property and Facility on the terms mutually agreed upon by the parties. Should the parties fail to consummate the sale of the RBC Property and Facility as provided in this paragraph, ST. BARTS first right to purchase may be voided, at the sole option of RBC. RBC may thereafter consummate the sale of the RBC Property and Facilities to other third parties.

FIRST RIGHT TO PURCHASE. Lessee is granted the first right to purchase the herein demised Premises as follows: In the event that Lessor decides to offer said Premises for sale, it will first offer them for sale, in writing, to Lessee at the same price and other terms of sale as it will later be offered on the open market. Lessee will have thirty (30) days from the date it receives the written offer to execute a purchase agreement to purchase the Premises at the price and terms quoted by Lessor. If Lessee does not execute a purchase agreement as above to purchase said Premises with the thirty day period, Lessor will be free to offer the Premises on the open market at the same price and terms of sale as it was offered to Lessee, and to finalize a sale at that price and those terms to a third party with no further liability to Lessee under this paragraph. If Lessor should wish to accept a lower price offer and/or better terms of sale from a third party, Lessor must offer to sell to Lessee at the lower price and/or better terms of sale that were acceptable from the third party. Lessee will have five (5) business days from receipt of the new offer to execute a purchase agreement at the lower price and/or better terms of sale. If Lessee rejects or does not execute a purchase agreement within said five (5) business days, Lessor will be free to sell to the third party with no further liability to Lessee under this paragraph. If the Premises are not sold to a third party for a period of one year from the date of the final offer to Lessee, Lessor must follow the procedure above, before the Premises can be sold to any entity other than ▇▇▇▇▇▇▇ Technology Corporation. If the Premises commonly known as ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ View, are offered for sale by Lessor simultaneously with the herein demises Premises, Lessee must purchase both properties in order to purchase ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇. This first right-of-refusal is automatically void at the termination of Lessee's occupancy of the Premises. This first right to purchase is personal to ▇▇▇▇▇▇▇ Technology Corporation and is not transferable to any other entity without the prior written consent of Lessor.

FIRST RIGHT TO PURCHASE. If a court determines that Vendor is obligated to comply with the requirements of I.C. 20-26-7.1, Purchaser may terminate this agreement pursuant to Section 3(a). However, Purchaser may elect to not terminate this agreement, and if after complying with the requirements of I.C. 20-26-7.1, Vendor is authorized to otherwise dispose of the Property, Purchaser may exercise the right to purchase the Property upon the terms and conditions outlined in this agreement.