Key Terms in Option-to-Purchase Agreements
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Follow Option to Purchase clause. Click to sign-up for email updates. Subject to Section 3. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or option to buy agreement sample to purchase any of the owned Bank Premises. Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date.
If the Assuming Institution gives notice of its election not to purchase one or more of the owned Bank Premises within seven 7 days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall option to buy agreement sample be liable for any of the option to buy agreement sample or fees associated with appraisals for such Bank Premises and associated Fixtures, Furniture and Equipment.
Upon termination of this Agreement, the Bank shall not sell, surrender, or transfer ownership of the Policy without first giving the Executive or the Executives transferee the option to purchase the Policy for a period of 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. The number of Optioned Shares which may be acquired pursuant to the Options shall be those which vest in accordance with Section 2.
Provided that the Tenant is not option to buy agreement sample in default under the terms of this Lease, then the Landlord grants Tenant the Option to Purchase the Premises at Fair Market Value, without accounting for the valuation of the lease option to buy agreement sample Landlord and Tenant, the value of the Premise based upon the fact that it possesses all permits necessary to operate an adult entertainment nightclub in the City of Hialeah, Florida, or the value of the property described on Exhibit A In order to exercise this Option, Tenant shall notify the Landlord, in writing, of its desire to exercise the Option which shall contain a proposed purchase price supported by a Real Estate Appraisal.
If the Landlord agrees to the Purchase Price proposed by Tenant, then the closing shall occur within 60 days of the date that the Offer is received option to buy agreement sample the Landlord.
Within 14 days of the Offer date, the Landlord shall notify Tenant whether it agrees to the Offer Price. If the Landlord does not agree to the Offer Price, then the Landlord shall, within 45 days of the receipt of the Offer, send a counter-proposal to Tenant, setting forth its proposed sale price, which sale price shall be supported by a Real Estate Appraisal. Counter-Offer If the Tenant agrees to the Purchase Price proposed by Landlord, then the closing shall occur within 60 days of the date that the Counter-Offer is received by the Tenant.
If the Tenant does not accept the Counter-Offer, then the parties agree that the Purchase Price will be set by a third party real estate appraiser. This appraiser shall be selected by agreement of the Tenants Real Estate Appraiser and the Landlords Real Estate Appraiser, who shall independently appraise the Premise and set the purchase price.
Such real estate appraisal shall be completed within 45 days of the date that the Real Option to buy agreement sample Appraiser is selected by the Appraiser, who shall select an appraiser within 14 days of being notified that the Tenant has rejected the Landlords Counter-Offer.
The Closing of the transaction shall occur within 30 days of the date that the Appraiser issues his Appraisal of the Premise. This option may be exercised by Tenant during the first 37 months of the lease. Should the option not be exercised within the first KULI shall have the option, for a period of fifteen 15 business days following receipt of the Notice, to acquire all but not less than all of the Offered Shares at the same price per share and upon the same terms and conditions as specified in the Notice.
Such option shall be exercised by delivery of written notice of the exercise of the option to Bennett. In the event that KULI does not exercise such option to acquire all of the Offered Shares within such fifteen 15 business day period, then the Company shall have the right for a period of five 5 business days after the expiration of the fifteen 15 business day period to acquire all but not less than all of the Offered Shares at the same price per share and upon the same terms and conditions as specified in the Notice.
In the event that KULI and the Company do not exercise the options described above within the periods described above option to buy agreement sample exercise the option but fail to close as provided in Section 2.
Any Shares that continue to be held by Bennett after such day period shall remain subject to the restriction on transfer contained in Section 2. If Lessee purchases or acquires an existing water right for use in association with this lease or operations upon the Leased Premises, Lessor shall have the option to acquire that portion of such water right as was used on the Leased Premises upon expiration or termination of this Lease.
The option price for such water right shall be the fair market value of the water right as option to buy agreement sample the date of expiration or termination of this Lease. Upon expiration or termination of this Lease, Lessee shall notify Lessor in writing of all water rights purchased or acquired by Lessee for leased substances mining operations on the Leased Premises and its estimate of the fair market value of such water right.
Lessor shall then have forty-five 45 days to exercise its option to acquire the water by payment to Lessee of the estimated fair market value. If Lessor disagrees with Lessees estimate of fair market value, Lessor shall notify Lessee of its option to buy agreement sample within the 45 day option exercise period.
The fair market value of option to buy agreement sample water right shall then be appraised by a single appraiser mutually acceptable to both parties, which appraisal shall be final and not subject to review or appeal. If the parties cannot agree upon the choice of an appraiser, the fair market value option to buy agreement sample the water right shall option to buy agreement sample determined by a court of competent jurisdiction.
Conveyance of any water right pursuant to this paragraph shall be by quit claim deed. If the Second Priority Representative so delivers the Purchase Notice, the First Priority Representative option to buy agreement sample terminate any existing Enforcement Actions and shall not take any further Enforcement Actions, provided, that the Purchase as defined below shall have been consummated on the date specified in the Purchase Notice in accordance with this Section 3. The Property Owner hereby grants to the Company, and the Company acquires from the Property Owner, during the term of this Agreement, the exclusive and irrevocable right, but not the obligation, to purchase all or any portion of the land area comprising the Land in Occupation the "Option to Purchase" on payment to the Property Owner of the purchase price independently determined by the Institute for the Administration and Option to buy agreement sample of National Assets the "INDAABIN".
Landlord hereby grants, bargains and sells to Tenant the exclusive option to purchase the Leased Premises Option commencing as of the Commencement Date and expiring as of the Expiration Date. Tenant may exercise the Option by giving notice to Landlord as provided in the Lease before expiration of the Option. Notice shall be deemed to have been given if in writing and made in such manner option to buy agreement sample for the giving of notices specified in this Lease.
In the event of exercise, Landlord shall sell to Tenant and Tenant shall purchase from Landlord the Leased Premises in accordance with the terms and conditions hereinafter set forth. Landlord hereby grants to Tenant an option to purchase Option to Purchase all of the Leased Property but not any part thereof in accordance with the terms and conditions of this Article Tenant may exercise its Option to Purchase only by giving an irrevocable notice of Tenants election to purchase the Leased Property Purchase Notice in accordance with the following:.