Purchase of the Property Clause Samples

Purchase of the Property. Subject to the conditions contained herein, and without limitation of the Lessee's purchase obligation pursuant to Section 18.2 or 18.3, the Lessee shall have the irrevocable option on any Business Day to purchase any or all of the Properties subject to this Master Lease (the "Purchase Option") at a price equal to the aggregate Property Balances of the relevant Properties on the date of such purchase (the "Purchase Option Price"). The Lessee's exercise of its option pursuant to this Section 18.1 shall be subject to the following conditions: (i) the Lessee shall have delivered a Purchase Notice to the Agent Certificate Holder and the Administrative Agent not less than thirty (30) days prior to such purchase, specifying the date of such purchase; (ii) the Lessee shall not have delivered (or, if delivered, shall not have failed to rescind) a written notice of the Lessee's exercise of the Remarketing Option pursuant to Section 20.1(a); (iii) if the purchase is of less then all Properties, no Lease Event of Default shall have occurred and then be continuing; and (iv) the lessee may not exercise its Purchase Option with respect to any Property unless (a) after giving effect to such purchase and the payment of the Property Balances in connection therewith, the Lease Balance shall equal or exceed 60% of the Aggregate Commitment Amount as in effect on the date of such purchase or Lessee purchases all of the Properties or (ii) the Required Participants shall have consented to the exercise of such purchase Option, which consent shall not be unreasonably withheld. If the Lessee exercises its option pursuant to this Section 18.1 then, upon the Administrative Agent's receipt of all amounts due in connection therewith, the Agent Certificate Holder shall cause Lessor Trust to transfer to the Lessee or its designees all of the Lessor Trust's right, title and interest in and to the Property in accordance with the procedures set forth in Section 21.1(a), such transfer to be effective as of the date specified in the Purchase Notice. The Lessee may designate, in a notice given to the Agent Certificate Holder and the Administrative Agent not less than ten (10) Business Days prior to the closing of such purchase (time being of the essence), the transferee or transferees to whom the conveyance shall be made (if other than to the Lessee), in which case such conveyance shall (subject to the terms and conditions set forth herein) be made to such designee; provided, however, that suc...

Purchase of the Property. On or prior to the Closing Date (as defined in Section 13(a)), and subject to the terms and conditions set forth in this Agreement, Seller shall sell, transfer, assign and convey to Purchaser, and Purchaser shall purchase and accept the sale, transfer, assignment and conveyance from Seller of, and assume the obligations of Seller arising from or otherwise relating to, the following: (a) the Property (including, without limitation, the Leases); and (b) all right, title and interest of Seller in and to the contracts and agreements set forth in Exhibit C attached hereto which are still in effect as of the Closing Date, if any (“Contracts”).

Purchase of the Property. If Tenant purchases the Property from Landlord pursuant to any of the terms of this Lease, Landlord shall, except as otherwise expressly provided, upon receipt from Tenant of the applicable purchase price, together with full payment of any unpaid Rent due and payable with respect to any period ending on or before the date of such purchase, deliver to Tenant an ALTA Owner Policy of Title Insurance or such equivalent policy of title insurance as may be available in the State, together with such endorsements, reinsurance agreements and direct access agreements as Tenant may reasonably request, together with an appropriate special warranty deed or other conveyance conveying marketable fee simple title in and to the Property to Tenant in the condition set forth in Article XXVI, except that the Property shall be free and clear of all mortgages and encumbrances other than (a) those Tenant has agreed hereunder to pay or discharge, (b) those mortgages which Tenant has agreed in writing to accept and to take title subject to on the date the Property was originally conveyed to Landlord and which are not in default, (c) encumbrances required to be imposed on the Property under Section 8.3, and (d) any other encumbrances permitted to be imposed on the Property under the provisions of Article XXVII which are assumable at no cost or expense to Tenant or to which Tenant may take subject without cost or expense to Tenant. The difference between the applicable purchase price and the total amount of the encumbrances assumed or taken subject to, if a positive number, shall be paid in cash to Landlord or as Landlord may direct, in federal or other immediately available funds, unless otherwise mutually agreed by Landlord and Tenant; provided, Landlord shall be obligated to pay to Tenant in cash any negative difference between the applicable purchase price and the total amount of the encumbrances so assumed or taken subject to by Tenant. All reasonable expenses of conveying the Property to Tenant, including, without limitation, the cost of the aforementioned title insurance and attorneys' fees incurred by Landlord in connection with such conveyance and release, and documentary transfer and similar taxes, recording fees and expenses of Tenant's counsel, shall be paid by Tenant.

Purchase of the Property. Seller shall sell and transfer the Property to Purchaser, and Purchaser shall purchase the Property from Seller, on the terms and conditions set forth in this Agreement.

Purchase of the Property. The Owner shall have purchased good and indefeasible fee simple title to the Property as set forth in Section 1.1.

Purchase of the Property. For the purchase price and upon the terms and conditions hereinafter set forth, Seller agrees to sell and Buyer agrees to purchase the following (collectively called the “Property”): (a) That certain land described in Exhibit “A” attached to and made a part hereof, all buildings, improvements and structures located on the land, and all rights, benefits, easements, privileges, strips, gores and appurtenances in any way pertaining thereto (“Real Property”); (b) All tangible personal property owned by Seller, located on the Real Property and used in the operation or maintenance of the Property as of the Close of Escrow (as defined in Section 5(b)) (the “Personal Property”); the items of Personal Property as of the date hereof are described in Exhibit “B” attached hereto and made a part hereof; (c) Seller’s interest as of the Close of Escrow in all leases and rental agreements concerning the Property (“Leases”) and all refundable security deposits made pursuant to the Leases; and (d) Seller’s interest, if any, without warranty, in all intangible property directly appurtenant to the Real Property and Personal Property (“Intangible Property”), including “as-built” plans or drawings, cross-use agreements, licenses, permits, telephone numbers, and guarantees and warranties given by the manufacturers and/or suppliers of any product contained in the Property or used in the construction thereof, to the extent such rights are assignable, and including the name “Terra Nova”; provided, however, that Buyer acknowledges that Seller may not have the exclusive right or any right to utilize such name. Seller has no obligation to give any notice or obtain any consent in connection with the rights, if any, assigned pursuant to this Section l(d).

Purchase of the Property. The Customer hereby sells and the Bank hereby purchases the Property from the Customer, free from all encumbrances but subject to those conditions of title express or implied and the restrictions in interest, if any, affecting the Property at the Purchase Price upon terms and conditions herein contained.

Purchase of the Property. 48 19.2 Failure to Close Purchase............................................................... 49

Purchase of the Property. The purchase price of the Property (“Purchase Price”) shall mean an amount equal to the greater of: (X) the amount that would result in the Required IRR (as hereinafter defined), and (Y) an amount equal to one hundred and fifty percent (150%) of the Lease Consideration (as hereinafter defined). Notwithstanding the foregoing, if Tenant has timely and properly exercised its Extension Option pursuant to Paragraph 34 prior to its exercise of the Purchase Option, the Purchase Price shall be reduced by an amount equal to the Extension Payment paid to Landlord by Tenant.