Common use of Second Purchase Clause in Contracts

Second Purchase. Arlington has a second option to buy one Hotel of its choice and another Hotel which Lessor chooses, with both purchases (the "Second Purchase Option") to be closed by June 5, 2002. Lessor will identify the second property it selects to be purchased by Arlington (the "Second Selection") at the closing of the First Selection. (a) If Arlington completes both the Initial Purchase Option and the Second Purchase Option by their respective deadlines described above, the rent increase referred to set forth in Section 3.2 effective June 30, 2002 will not go into effect and be eliminated null and void.

Second Purchase. Arlington has a second option to buy one Hotel of its choice and another Hotel which Lessor chooses, with both purchases (the "Second Purchase OptionSECOND PURCHASE OPTION") to be closed by June 5, 2002. Lessor will identify the second property it selects to be purchased by Arlington (the "Second SelectionSECOND SELECTION") at the closing of the First Selection. (a) If Arlington completes both the Initial Purchase Option and the Second Purchase Option by their respective deadlines described above, the rent increase referred to set forth in Section 3.2 effective June 30, 2002 will not go into effect and be eliminated null and void.