Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this Section, Lessee shall have the option (the "Remarketing Option") to market the Leased Property for Lessor and to procure a purchaser therefor. Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions, the failure of any of which shall render the Remarketing Option and Lessee's exercise thereof null and void, in which event, Lessee shall be obligated to perform its obligations under Section 15.2 "Purchase Obligation":
Appears in 2 contracts
Sources: Lease and Development Agreement (Huffy Corp), Lease and Development Agreement (Eagle Usa Airfreight Inc)
Option to Remarket. Subject to the fulfillment of each of the conditions set forth in this SectionSECTION 15.6, the Lessee shall have the option (the "Remarketing Option") to market the Leased Property for the Lessor and to procure a purchaser therefor. The Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions, the failure of any of which shall render the Remarketing Option and the Lessee's exercise thereof null and void, in which event, the Lessee shall be obligated to perform its obligations under Section SECTION 15.2 hereof, "Purchase Obligation":
Appears in 1 contract