Special Purchase Option Clause Samples

A Special Purchase Option clause grants one party the right to buy a specific asset under predetermined terms, often before the end of a contract or lease. This clause typically outlines the conditions under which the purchase can occur, such as timing, price, and any required notice to the other party. Its core function is to provide flexibility and certainty for both parties by establishing clear rules for an early or preferential purchase, thereby reducing potential disputes and facilitating smoother transactions.
Special Purchase Option. On the EBO Date, Lessee shall have the option, upon at least ninety (90) days' irrevocable prior notice to Lessor and, if any Secured Certificates are then outstanding, the Indenture Trustee, to purchase the Aircraft on such date for a purchase price equal to [, at Lessee's option, either (a)] the Special Purchase Price [, or (b) the amount set forth under the heading "Initial Installment" on Exhibit B (the "Initial Installment") (payable on the EBO Date) plus the Remaining Installments]. In addition, if on such date there shall be any Secured Certificates outstanding, Lessee shall have the option to assume, pursuant to Section 8(x) of the Participation Agreement and Section 2.13 of the Trust Indenture, all of the obligations of Lessor under the Trust Indenture. If such assumption is made, in lieu of paying the Special Purchase Price on the EBO Date Lessee shall pay Lessor a purchase price equal to (I) [(x) in the event Lessee has elected to pay the Special Purchase Price,] the Special Purchase Price [or (y) in the event Lessee has elected to pay the Initial Installment and the Remaining Installments, the Initial Installment] minus [in either event] (II) an amount equal to principal of, and accrued but unpaid interest on, any Secured Certificates that are outstanding on such date. Upon such payment in full and payment of any other amounts then due hereunder (including costs or expenses of the Owner Participant in connection with such purchase, any installments of Basic Rent due prior to such date and, if Basic Rent is payable in arrears on such date as indicated on Exhibit B, on such date (but not any installment of Basic Rent due on such date if Basic Rent is payable in advance on such date), and all unpaid Supplemental Rent due on or prior to such date), [and, in the event that Lessee has elected to pay the Initial Installment and the Remaining Installments, after Lessee shall have provided Lessor with its undertaking to pay the amounts due on the dates set forth under the heading "Remaining Installments" on Exhibit B (the "Remaining Installments"),] Lessor will transfer to Lessee, without recourse or warranty (except as to the absence of Lessor Liens, including for this purpose Liens which would be Lessor Liens but for the proviso in the definition of Lessor Liens), all of Lessor's right, title and interest in and to the Aircraft and under the Trust Indenture and, unless there shall be any Secured Certificates outstanding after such payment, exercise su...
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Special Purchase Option. The Early Termination Date referenced in Section 19(a) of the Lease is that date which is sixty (60) months after the Base Lease Commencement Date. The Early Termination Percentage referenced in Section 19(a) of the Lease is $548,979.67 (computed as 33.051154%). DATE OF EXECUTION: September ___, 2002 BANC OF AMERICA LEASING & CARAUSTAR INDUSTRIAL AND ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ PRODUCTS GROUP, INC. Lessor Co-Lessee By: /s/ Michael T. Spiva By: /s/ H. Lee Thrash, III ---------------------------- ---------------------------------------- 2031 Carolina Place Fort Mill, Sout▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇: ▇▇▇-▇▇▇-▇▇▇▇ State of Incorporation: ▇▇▇▇▇▇▇▇ Federal Employer Identification No.: 58-2260608 Organizational No.: 2244▇▇▇ BANC OF AMERICA LEASING & CAPITAL, LLC -------------------------------------------------------------------------------- SCHEDULE OF EQUIPMENT Lessee: CARAUSTAR INDUSTRIES, INC. and CARAUSTAR INDUSTRIAL AND CONSUMER PRODUCTS GROUP, INC. Approved by _______________________________ Page No. 1 of 2 total pages (Lessee to initial each page) Attached to Equipment Schedule No. 2 Equipment located at: _______________________________ Street No. _______________________________ City County State ZIP Code --------------------------------------------------------------------------------------------------------------- LONG ASSET DESCRIPTION LOCATION MANUFACTURER MODEL NO. SERIAL NO. COST --------------------------------------------------------------------------------------------------------------- PACO WINDER & GLUE POT Beardstown Tube Paco ▇▇ ▇ A2230-383 69,000 SPACK 25-400 PROGRAMMABLE Beardstown Tube Spack 25-400 1062 70,000 CORE CU▇▇▇▇ HOGGER/BALER Beardstown Tube Soco/Blo Opco 4F7-5036 10937694 68,000 GLUE POT Beardstown Tube Spirotech 28,000 LINEAL CONTROL SPIRAL SAW Beardstown Tube Paco CS16 17,000 HYDRAULIC WINDER Beardstown Tube 16,000 40HP GARDNER D AIR COMPRESSOR Beardstown Tube Gardner Denver 9,000 STRETCH ▇▇▇▇ ▇ACHINE Beardstown Tube 8,000 --------------------------------------------------------------------------------------------------------------- PACO EHR65 AUTO MATIC TUBE Crossett Tube Paco EHR 65 A2314-38 ▇▇▇,▇▇▇ RECUTTER HOGGER/BALER Crossett Tube Selco/Blo Apco HS12XHDM3044/ 30947745/831267 ▇▇▇,▇▇▇ 4FT-5036 SPACK IN-LINE BALDE CUTTER Crossett Tube Spack 25-400 1063 ▇▇,▇▇▇ TYPE 25-▇▇▇ SLITTER Crossett Tube ▇▇,▇▇▇ CREEL Crossett Tube Custom Built ▇▇,▇▇▇ AIR COMPRESSOR Crossett Tube ▇▇,▇▇▇ GLUE TANK Crossett Tube ▇▇,▇▇▇ LARGE DIAMETER TUBE SPLITTER...
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Special Purchase Option. If Lessee shall have elected both (i) to assume all of the rights and obligations of Lessor under the Trust Indenture in accordance with Section 7.03 of the Trust Indenture and (ii) to pay to Lessor the installments specified in the proviso to Section 18.2(c) of the Lease, then, as further conditions precedent to those specified in paragraphs (c) and (d) of Section 18.2 of the Lease to such assumption: (1) the Indenture Trustee shall have received evidence reasonably satisfactory to it that the Trust Indenture, after giving effect to the transactions contemplated by Section 18.2(d) of the Lease, constitutes a first priority and perfected security interest in the Aircraft, which evidence shall include an opinion of the tenor contemplated by Section 7.03(h) of the Trust Indenture; and (2) the Indenture Trustee and the Owner Trustee shall execute and deliver an intercreditor agreement that covers the following matters:
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Special Purchase Option. If (a) the Company shall (i) request the Lender to consent to a waiver under (1) Section 5.13 of the Indenture or (2) Article Seven-C of the Indenture, or (ii) give notice to the Lender that it requests, pursuant to Section 10.02 of the Indenture, its consent to an indenture or indentures supplemental to the Indenture, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture, or any such supplemental indenture (other than a supplemental indenture for which, under the proviso to such Section 10.02, the consent of the holders of 100% of the Notes of every Series affected thereby is required), or a supplemental indenture waiving or amending Section 5.17 of the Indenture, (b) the Company shall concurrently request of the holders of all other Series of Notes entitled to vote or act with respect thereto (i) a like waiver of (1) such Section 5.13 of the Indenture, or (2) the provision of Article Seven-A or Seven-B of the Indenture corresponding to the provision of such Article Seven-C to which the waiver requested of the Lender pertains, or (ii) its consent to such supplemental indenture or indentures, as the case may be, (c) the Company shall have obtained the consents referred to in clause (b) of this Section from the holders of each other Series of Notes whose consent is required for such matters, and the Company shall give notice of such fact to the Lender, which notice shall state that if the Lender does not consent to such matter, the Series J Note, including any interests of Participating Banks, shall be subject to the Company's right to purchase the Series J Note under this paragraph, and stating the date by which such consent must be given if the Company's purchase right is not to arise (which date shall be not less than 15 days after the expiration of 30 days from the later of the effective date of the Company's notice of its request under clause (a) of this Section, or the effective date of the Company's notice under this clause (c), (d) the Lender shall not have consented to the matters requested of it by the effective date of the Company's notice under clause (c) of this sentence, and (e) such consent shall not be given by the date specified in the Company's notice under clause (c) of this sentence as the date after which the Company's right to purchase the Series J Note will arise, then, at any time within 120 days after such date, the Company may at its option, upon at least 10 days...
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Special Purchase Option. Security for Lessor's Obligation to Holders of Secured Certificates..............................................
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Special Purchase Option. Upon 30 days' prior written notice to the Lessor, unless a Default or an Event of Default shall have occurred or be continuing or an Event of Loss or Deemed Loss Event shall have occurred, if the Lessee shall determine that upon a refunding of the Initial Series Note (and the Releveraging Note, if theretofore issued) such refunding would violate any limitation then imposed by the NMPSC, the Lessee shall have the right to purchase the Undivided Interest and the Real Property Interest for a purchase price equal to the greater of (i) the Fair Market Sales Value thereof and (ii) Casualty Value as of the Basic Rent Payment Date first preceding the date of such purchase (or as of the date of such purchase, if such date shall be a Basic Rent Payment Date) plus, if such date shall not be a Basic Rent Payment Date, a pro ration of Basic Rent to the date of purchase.
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Special Purchase Option. If Lessee shall have elected both (i) to assume all of the rights and obligations of Lessor under the Trust Indenture in accordance with Section 7.03 of the Trust Indenture and (ii) to pay to Lessor the installments specified in the proviso to Section 18.2(c) of the Lease, then, as further conditions precedent to those specified in paragraphs (c) and (d) of Section 18.2 of the Lease to such assumption:
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Special Purchase Option. The Early Termination Date referenced in Section B(1) of Rider No. 1 to the Lease is that date which is forty-eight (48) months after the Base Lease Commencement Date. The Early Termination Percentage referenced in Section B(1) of Rider No. 1 to the Lease is 41%.
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Related to Special Purchase Option

  • Initial Purchase On the Initial Closing Date, subject to satisfaction of the conditions specified in Article VI and the First Step Initial Receivables Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Further Transfer and Servicing Agreements, if any), the Seller shall sell, transfer, assign and otherwise convey to ▇▇▇▇, without recourse: (i) all right, title and interest of the Seller in, to and under the Initial Receivables listed on the Schedule of Initial Receivables and all monies received thereon on and after the Initial Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Initial Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Initial Receivables; (v) all right, title and interest of the Seller in, to and under the First Step Initial Receivables Assignment; (vi) the right to purchase Additional Receivables during the Revolving Period at a price equal to the Aggregate Additional Receivables Principal Balance on each applicable Distribution Date; and (vii) all present and future claims, demands, causes and choses in action in respect of any or all of the foregoing described in clauses (i) through (vi) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. The property described in clauses (i) through (vii) above is referred to herein collectively as the “Initial Purchased Property.”

  • Substitute Purchase Option In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company into, another corporation (other than a consolidation or merger which does not result in any reclassification or change of the outstanding Common Stock), the corporation formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares of stock and other securities and property receivable upon such consolidation or merger, by a holder of the number of shares of Common Stock of the Company for which such Purchase Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in Section 6. The above provision of this Section shall similarly apply to successive consolidations or mergers.

  • Purchase Option The Company hereby agrees to issue and sell to the Representative (and/or their designees) on the Effective Date an option ("Representative's Purchase Option") for the purchase of an aggregate of ______ units ("Representative's Units") for an aggregate purchase price of $100. Each of the Representative's Units is identical to the Firm Units except that the Warrants included in the Representative's Units ("Representative's Warrants") have an exercise price of $____ (___% of the exercise price of the Warrants included in the Units sold to the public). The Representative's Purchase Option shall be exercisable, in whole or in part, commencing on the later of the consummation of a Business Combination and one year from the Effective Date and expiring on the five-year anniversary of the Effective Date at an initial exercise price per Representative's Unit of $___, which is equal to _________ (___%) of the initial public offering price of a Unit. The Representative's Purchase Option, the Representative's Units, the Representative's Warrants and the shares of Common Stock issuable upon exercise of the Representative's Warrants are hereinafter referred to collectively as the "Representative's Securities." The Public Securities and the Representative's Securities are hereinafter referred to collectively as the "Securities." The Representative understands and agrees that there are significant restrictions against transferring the Representative's Purchase Option during the first year after the Effective Date, as set forth in Section 3 of the Representative's Purchase Option.

  • Initial Purchase Price (a) Prior to Closing, the Company shall prepare (and, if requested by Purchaser, in consultation with Purchaser), and at least four Business Days prior to the Closing Date, the Company shall deliver to Purchaser, a written statement (the “Closing Statement”) setting forth: (i) the Company’s good faith estimate and supporting calculations of (I) the Cash Amount (the “Estimated Cash Amount”), (II) the Net Working Capital (the “Estimated Net Working Capital”), (III) the Indebtedness Amount (the “Estimated Indebtedness Amount”) and (IV) the Transaction Expenses Amount (the “Estimated Transaction Expenses Amount”); (ii) payment instructions for the payment of the Closing Consideration; (iii) a list of and, as applicable, payment instructions for the payment of, each of the Transaction Expenses included in the Estimated Transaction Expenses Amount; and (iv) the calculation of the Initial Purchase Price and Closing Consideration derived therefrom. (b) During the preparation of the Closing Statement (if requested by Purchaser) and after the delivery of the Closing Statement, Purchaser and its Representatives shall have a reasonable opportunity to review and to discuss with the Company and its Representatives (a) the Company’s and its Subsidiaries’ working papers and the working papers of the Company’s independent accountants, if any, relating to the preparation of the Closing Statement and the calculation of the Estimated Cash Amount, Estimated Net Working Capital, Estimated Indebtedness Amount and Estimated Transaction Expenses Amount and (b) the relevant books and records of the Company and its Subsidiaries relating to the Cash Amount, the Net Working Capital, the Indebtedness Amount or the Transaction Expenses Amount; and the Company and its Representatives shall reasonably assist Purchaser and its representatives in their review of the Closing Statement and the preparation thereof and reasonably cooperate with respect thereto. In the event Purchaser notifies the Company in writing prior to the Closing that it disputes any amount set forth in the Closing Statement, Purchaser and the Company shall cooperate in good faith to resolve any such dispute as promptly as practicable prior to the Closing Date. If, prior to the Closing, Purchaser and the Company agree in writing to any component on the Closing Statement, then such components of the Closing Statement shall be modified as so agreed. The Closing shall not be delayed if Purchaser and the Company are unable, after any such cooperation, to agree on all of the components of the Closing Statement and, except as otherwise agreed to by Purchaser and the Company in writing, the parties shall use the Closing Statement as delivered by the Company for purposes of determining the Closing Consideration (without limiting any of the provisions of this Agreement, including Article II). (c) From 12:00 a.m. on the Closing Date and until the Closing, the Company shall not, and shall not permit any of its Subsidiaries to, make any dividend or distributions of Cash or incur any Indebtedness or Transaction Expenses (other than as a result of the Financing or as already fully reflected in the Closing Statement) or use any Cash to pay any Transaction Expenses or to repay any Indebtedness. If, as a result of a breach by the Company of any of its covenants contained in this Section 1.02(c), Cash, Transaction Expenses or Indebtedness shall have changed between 11:59 p.m. on the day immediately preceding the Closing Date and the time immediately preceding the Closing, then any such changes shall be included in the calculation of Cash Amount, Transaction Expenses Amount and/or Indebtedness Amount (as the case may be) for purposes of the Closing Statement. (d) For purposes of this Agreement,

  • Option Securities In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Fund hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional [—] Common Shares in the aggregate at the price per share set forth in Schedule B, less an amount per share equal to any dividends or distributions declared by the Fund and payable on the Initial Securities but not payable on the Option Securities. The option hereby granted will expire 45 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering overallotments which may be made in connection with the offering and distribution of the Initial Securities upon written notice by the Representatives to the Fund setting forth the number of Option Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Securities. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be earlier than the second day after the date on which the option is being exercised nor later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Securities, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Securities then being purchased which the number of Initial Securities set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Securities, subject in each case to such adjustments as ▇▇▇▇▇▇▇ ▇▇▇▇▇ in its discretion shall make to eliminate any sales or purchases of a fractional number of Option Securities plus any additional number of Option Securities which such Underwriter may become obligated to purchase pursuant to the provisions of Section 10 hereof.