Obligation to Purchase the Project Clause Samples
The 'Obligation to Purchase the Project' clause requires one party, typically the buyer, to commit to purchasing the project from the seller under specified conditions. This clause outlines the circumstances, timelines, and procedures under which the purchase must occur, such as upon completion of certain milestones or regulatory approvals. Its core function is to provide certainty and assurance to both parties by formalizing the buyer’s commitment, thereby reducing the risk of withdrawal or non-performance after significant investments have been made.
Obligation to Purchase the Project. The Developer hereby agrees to purchase, and the City hereby agrees to sell, the Project upon the occurrence of (a) the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture, and (b) the final payment due under the Development and Performance Agreement. The amount of the purchase price under this Section shall be the sum of the items set forth in Sections 11.1(a)-(e). The purchase price shall be paid by the Developer within 90 days of the expiration of the Lease Term.
Obligation to Purchase the Project. (a) The Company hereby agrees to purchase, and the City hereby agrees to sell, the Project upon the occurrence of (a) the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture, and
(b) the final payments due under the Performance Agreement. The amount of the purchase price under this Section shall be $10.00 plus an amount sufficient to redeem all the then Outstanding Bonds, plus accrued interest and the reasonable fees and expenses of the City and the Trustee.
Obligation to Purchase the Project. The Company hereby agrees to purchase, and the Issuer hereby agrees to sell, the Project for the sum of $100 at the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof and all other fees, charges and expenses having been made in accordance with the provisions of the Indenture, this Lease Agreement and all other documents entered into with respect to the Bonds.
Obligation to Purchase the Project. The Corporation hereby agrees to purchase, and the City hereby agrees to sell, the Project for the sum of $100 at the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture.
Obligation to Purchase the Project. The Company or its successors under this Lease hereby agrees to purchase, and the City hereby agrees to sell, all of the Project for the sum of $100.00 at the expiration or termination of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture. As a result, the City shall not sell, transfer or convey an interest in the Project except as provided in this Article XI.
Obligation to Purchase the Project. The Lessee hereby agrees to purchase, and the City hereby agrees to sell, the Project for the sum of $100 at the expiration of the Lease Term following full payment of the Bonds and satisfaction of the terms and conditions of this Article XI, including payment of all fees, charges, advances, indemnities and expenses of the City and Trustee provided, however, said sale shall be subject to the prior written consent of the A Bondowner, the Trustee and the City in the event a default under this Lease has occurred.
Obligation to Purchase the Project. The Company hereby agrees to purchase, and the City hereby agrees to sell, the Project (a) for the sum of $1,000 at the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture, and (b) at least 30 days and not more than 90 days subsequent to the early termination of the Grant Agreement, in an amount sufficient to redeem all the then Outstanding Bonds, plus accrued interest, the reasonable fees and expenses of the Trustee and the sum of
Obligation to Purchase the Project. The Fee Owner hereby agrees to purchase, and the City hereby agrees to sell, the Project upon (a) the occurrence of the expiration of the Lease Term