Common use of Third Party Offer Clause in Contracts

Third Party Offer. If, during the term of this Lease, ▇▇▇▇▇▇ should receive a bona fide written offer from a third party to purchase the Hangar, which offer Lessee is inclined to accept, Lessee shall give written notice to County. County shall have the first right of refusal to purchase the Hangar on the same terms and conditions as set forth in such offer. County shall exercise its right to purchase by delivering written notice of intent to purchase to Lessee within thirty (30) days of receipt of Lessee’s notice, and County shall complete the purchase within sixty (60) days of County’s notice of intent to purchase. The closing of such purchase shall effect an automatic termination of this Lease, and Lessee shall have no further obligation to pay rent.

Appears in 4 contracts

Sources: Airport Ground Lease, Airport Ground Lease, Airport Ground Lease