Common use of PURCHASE OF TENANT’S PERSONAL PROPERTY Clause in Contracts

PURCHASE OF TENANT’S PERSONAL PROPERTY. Upon the expiration or sooner termination of this Lease, Landlord shall have the right (but not the obligation) to purchase from Tenant all or any portion of tangible Tenant's Personal Property (which shall not include software): (i) if owned by Tenant and not subject to any secured financing, at the fair market value thereof; (ii) if owned by Tenant, but subject to a secured financing, at the greater of the amount of the debt owing under such financing and the fair market value thereof; and (iii) if leased by Tenant and the applicable lease provides for termination of the lease as to such property upon the payment of a given sum, at the greater of the amount of the payment so provided, and the fair market value thereof; provided, that at Landlord's option and if the lessor of such Tenant's Personal Property will permit Landlord to assume the obligations under the applicable lease with respect to such property (separate from the obligations under a master lease if in effect), Tenant shall, upon the request of Landlord, assign the applicable lease (or portion thereof) to Landlord. Landlord may elect to purchase Tenant's Personal Property by giving notice to Tenant not later than, as the case may be, ninety (90) days prior to the expiration of this Lease or upon the termination of this Lease following any Event of Default. Tenant shall transfer title to such property by a ▇▇▇▇ of sale without warranty (except as to ownership) upon concurrent payment in cash by Landlord.

PURCHASE OF TENANT’S PERSONAL PROPERTY. Upon the expiration or sooner termination of this Lease, Landlord shall have the right (but not the obligation) to purchase from Tenant all or any portion of tangible Tenant's Personal Property (which shall not include software): (i) if owned by Tenant and not subject to any secured financing, at the fair market value thereof; (ii) if owned by Tenant, but subject to a secured financing, at the greater of the amount of the debt owing under such financing and the fair market value thereof; and (iii) if leased by Tenant and the applicable lease provides for termination of the lease as to such property upon the payment of a given sum, at the greater of the amount of the payment so provided, provided and the fair market value thereof; provided, that at Landlord's option and if the lessor of such Tenant's Personal Property will permit Landlord to assume the obligations under the applicable lease with respect to such property (separate from the obligations under a master lease if in effect), Tenant shall, upon the request of Landlord, assign the applicable lease (or portion thereof) to Landlord. Landlord may elect to purchase Tenant's Personal Property by giving notice to Tenant not later than, as the case may be, ninety (90) days prior to the expiration of this Lease or upon the termination of this Lease following any Event of Default. Tenant shall transfer title to such property by a ▇▇▇▇ of sale without warranty (except as to ownership) upon concurrent payment in cash by Landlord.