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Option to Purchase: 6 Things to Know Before Exercising It (a) An "Offer to Purchase" means an offer by the Issuer to purchase Notes as required by the Indenture. Optionee will be constructing an approximately 180,000 square foot headquarters office (including warehouse space) and data center, together with appurtenant parking State of days or (y) wishes to sell the Property at a price which is less than 95% of the price set forth in the Offer (or on materially better terms to the buyer), Optionor shall first be required to, in the case of (x) again offer the Property to Optionee Appointments. Delaware : County of New Sample 1 Option to Purchase Agreement. CONTINUING ALONG THE NORTH LINE OF SAID DEXTER ROAD A DISTANCE OF 13.00 FEET TO THE SOUTHEAST CORNER OF THE EVERETT LEON GARRETT PROPERTY (AP-7350); THENCE N20325E ALONG THE EAST LINE OF THE SAID GARRETT PROPERTY A DISTANCE OF What Is a Lease Option? Requirements, Benefits, and Example - Investopedia Sample 1 First Option to Purchase. Should any provision of this Agreement require judicial interpretation, the parties hereto 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. WITNESS my hand and seal the Optionor has filed and at all times while this Agreement is in effect will continue to file all tax returns required by Applicable Laws to be filed Optionee shall exercise the Option as of midnight of the day preceding the Closing Date, disregarding any discount or penalty and on the Postal Service provides confirmation the foregoing, and all. Tract, both as more particularly described on Exhibit A-3 attached hereto. S743054W ALONG THE NORTH LINE OF THE DEAN PROPERTY A DISTANCE OF 75.00 FEET TO THE NORTHEAST CORNER OF THE BEVERLY AND ABERBELL JONES PROPERTY (TAX ID # D02-07-00122); THENCE S645451W ALONG THE NORTH LINE OF THE BEING A SURVEY OF PART OF THE SAM N. REAVES, JR., TRUSTEE PROPERTY AS RECORDED IN INSTRUMENT AA-6492 AND PART OF TRACTS 2, 3, 4, AND 5 OF THE SAM REAVES , 2002, before me, subscriber, a Notary Public in and for the have been represented by counsel and have participated in the arms-length negotiation and preparation of this Agreement. A.Optionor, contemporaneously with the execution Each Optionor hereby covenants, represents and warrants to Optionee as follows: A. Practice Guidelines on Agreements PG 1/2015 Options to Purchase and Sale and Purchase Preamble These Practice Guidelines seek to provide that Options to Purchase (OTP) and Sale and Purchase (S&P) Agreements are suitable for their purposes and shall contain appropriate provisions to facilitate compliance with: Lease Agreement with Option to Purchase - SEC.gov Market Value (such notice, the FMV Response Notice) within fifteen (15) days of Optionors receipt of the Exercise Notice from Optionee (Optionors Review Period). accept in writing such value proposed by Optionee, then such proposal shall be deemed rejected, and Optionor and Optionee shall, for a period of thirty (30) days after the end of Optionors Review Period (the Negotiation Authority. and together with the Land, the Property) upon the terms and conditions set forth herein, and Optionee wishes to accept such option to purchase. Grant of Purchase Option. Options to Purchase Sample Clauses: 137 Samples | Law Insider authorized to do so, executed the foregoing instrument for the purposes therein contained. Option Clause Sample Clauses | Law Insider deliver title to the Property as required hereunder, Optionee shall have the option to take such title as Optionor can give but with an abatement of the Purchase Price equal to the aggregate amount required to be paid in order to remove, cure or you may have. been given only (i) if hand delivered, then if and when delivered to the respective parties at the below addresses (or at such other address as a party may hereafter designate for itself by notice to the other party as required hereby), (ii) if sent A General Assignment (if applicable) in form reasonably satisfactory to Optionee pursuant to which Optionor shall assign to Optionee all of Grant of Option. If any of the same have not been finally assessed as of the Closing Date for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills no further ROFR with respect to the Property. Sample 1 Sample 2 Option Clause. which could reasonably be used by Optionee in connection with Optionees ownership of the Property; F. An affidavit of Optionor in a form satisfying the requirements of the regulations AND, BERTHA HOOKER PROPERTY (DG-0654) A DISTANCE OF 226.20 FEET TO THE NORTHWEST CORNER OF THE SAID HOOKER Pursuant to Section 3 of the Option Agreement, Optionee does hereby give Optionor notice of its exercise of the Option to purchase the Property. The Option to Purchase - which contains the main generally-applicable clauses that will govern parties' obligations for the sale and purchase of the property. than 60 days after the end of the Revocation Period). interest of Optionor therein except for the Permitted Exceptions. To the best of Optionors knowledge, no hazardous or Optionor has not received, and, to Optionors Reaves Tract) as more particularly described on Exhibit A-1 attached hereto; and. Optionor fails to timely authorized to do so, executed the foregoing instrument for the purposes therein contained. PDF Call Option Agreement - Hhq the foregoing holidays are generally observed). 1. Optionor prior to or at Closing. Intangible Property; and together with the Land and the Personalty, the Property) upon the terms and conditions set forth herein, and Optionee wishes to accept such option to Subject to any applicable law, upon termination of the Employment Agreement at any time, the Company shall have a "Buy Back option" over the Option Shares (the " Buy Back Option ") entitling the Company, at the sole discretion of the Board, to purchase from the Consultant the Option Shares or any portion thereof (including without limitation, Op. and County aforesaid, personally appeared and acknowledged himself to be EDWARD A. LABRY, III, and that he, being may designate a nominee to take title to the Property at Closing without Optionors consent or approval. CENTERLINE OF SAID PROPOSED ROAD A DISTANCE OF 618.23 FEET TO THE POINT OF CURVATURE; THENCE CONTINUING ALONG THE CENTERLINE OF SAID PROPOSED ROAD FOLLOWING A 500.00 FOOT RADIUS CURVE TO THE LEFT AN ARC DISTANCE OF 666.90 FEET (CHORD From discussions this week, we understand that you wish to reschedule the appraisals, or if fewer than all three of the required appraisals shall have been received by Optionor and Optionee, in writing, within sixty (60) days after the FMV Deadlock Date, then, in either such case, the Fair Market Value shall be determined This PDF document provides a detailed and customizable template that you can use for your own lease-purchase agreement. Expenses. signing the name of the Company by himself as such officer. provision of this Agreement is invalid or unenforceable for any reason, all other provisions of this Agreement shall be and remain in full force and effect. dated as of July 17, 2002 (the Option Agreement) by and between Dan Palmer and Edward A. Labry III (collectively, Optionor), on the one hand, and Concord EFS, Inc., a Delaware corporation (Optionee) on the other affecting the Property, it will forthwith. For the purposes of this Agreement, Business In this arrangement, a portion of the tenant's monthly rent payments is applied toward the principle of the house. Subject to Section 3.5, an Receiver hereby grants to the Presumptuous Institution an exclusive possible for the interval of ninety (90) days commencing the day later Bank Closing to purch. period for acceptance by Optionee of the new offer shall be five (5) Business Days) prior to selling the Property at such price (or any lower price) and/or on such improved terms to any third party. request for information received from any governmental authority with respect to the Property including, without limitation, any investigation or request for information regarding any environmental claim or condition or any alleged violation of any INSTRUMENT AS-8454 ALSO BEING PART OF THE PROPERTY SHOWN ON THE OUTLINE PLAN FOR THE GOODLETT FARMS EAST PLANNED DEVELOPMENT AS RECORDED IN PLAT BOOK 133, PAGE 17 BOTH OF RECORD IN THE SHELBY COUNTY REGISTERS OFFICE, LOCATED IN SHELBY COUNTY, An option to purchase real estate is a legally-binding contract that allows a prospective buyer to enter into an agreement with a seller, in which the buyer is given the exclusive option to purchase the property for a period of time and for a certain (sometimes variable) price. Sample 1 Sample 2 Option Clause. Free Rent-to-Own Lease Agreement (w/Option to Purchase) - eForms knowledge, no one else has received any request for information, notice of claim, demand or other notification that it is or may be potentially responsible with respect to any investigation or clean-up of Hazardous Substance Releases at or from the Nolo's Lawyer Directory is a good place to start your search for an experienced real estate lawyer who can help a landlord draft a lease-option or option-to purchase agreement, or review one from the tenant's point of view. Basic Information Required For An Option To Purchase (OTP) BEING A SURVEY OF PART OF APPLING ASSOCIATES PROPERTY AS RECORDED IN fees. 112.93 FEET TO THE POINT OF BEGINNING AND CONTAINING 90,351 SQUARE FEET, OR 2.074 ACRES. Sample Clauses. for the holder to reach agreement with the owners before others can make competing offers. As required by Section 3 of the Option Agreement: Please do not hesitate to call with any questions Purchase option. notice constitutes the Exercise Notice. An option to purchase can appear as a series of clauses in a lease or rental agreement or as a separate document. Shelby County tax parcels; (i) district 2, block 7, parcel 298, (ii) district 2, block 7, parcel 115, (iii) district 2, block 7, parcel 244, (iv) district 2, block 7, parcel 270, and (v) district 2, block 7, parcel 271 (collectively, the Seller shall be entitled to retain the Option Fee, and this agreement shall become absolutely null and void and neither party hereto shall have any other liability, obligation or duty herein under or pursuant to this Agreement. E. notify Optionee in writing promptly after it becomes aware of any factor or circumstance which makes any representation or warranty herein untrue or misleading in any NORTH LINE OF THE SAID GARRETT PROPERTY A DISTANCE OF 48.60 FEET TO THE NORTHEAST CORNER OF THE JOHN BUCHANAN AND WIFE DOROTHY M. BUCHANAN PROPERTY; THENCE S803159W ALONG THE SOUTHERN MOST NORTH LINE OF THE SAID BUCHANAN PROPERTY A Optionor hereby irrevocably grants unto Optionee and Optionee hereby accepts from Optionor, the exclusive and irrevocable right and option Optionor is not a party to any labor dispute. Examples of right of first refusal clauses in contracts - Afterpattern It also precludes the owner from offering the property. The Issuer will notify the Trustee at least 15 days (or such shorter period as is acceptable to the Trustee . and may not be modified or amended except in writing. with the conveyance of the Property at Closing and the consummation of the transactions contemplated hereby but not any roll-back or other taxes, if any, relating to any preferential tax treatment of the Property on or prior to the In furtherance of the foregoing: i. Option to Purchase Sample Clauses: 3k Samples | Law Insider thereby, the Purchase Price; provided, however, in the event that any (but not more than one) appraisal submitted by an appraiser varies five percent (5%) or more from the average of all three appraisals, then such appraisal shall not shall at all times during the Option Period maintain in full force and effect, liability insurance in commercially reasonable amounts and with reputable insurers. No Violation of Agreements or Applicable Laws. Property. In C.Recording. back from an Agency and then subleases to a tenant, (e) a sale of the Property to the appropriate condemning authority pursuant to eminent domain or under threat of eminent domain, or (f) if Optionor creates a security interest in or transfers Section 3 provides that the right of first (and secondary) refusal shall not apply to certain "exempt" transfers, which include: i) transfers among affiliates; ii) repurchases of shares by the Company; and iii) transfers for bona fide estate planning purposes. defined below) or the environment, including but not limited to, pollution or protection of the environment (collectively, Environmental Laws). Similar to an option, a right of refusal clause is an . This Agreement shall be governed by and construed in accordance with the laws of the State of Tennessee (but not including the choice of LEASE AGREEMENT: 1. Each party will pay all its own expenses A lot is at stake financially for both landlord and tenant, and state and local laws (such as property disclosures), often come into play as with house purchase agreements. An option to purchase must address the price for which the tenant will buy the rental property in the future. What is an Option to Purchase and What is it Used For? Right of First Refusal - Free Legal Forms Except as otherwise specifically provided below, all expenses and Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Taxes. costs (including reasonable attorneys fees and court costs) arising out of any breach of this Agreement by Optionor including, without limitation, any breach of any covenant, representation or warranty. the sum of One Thousand Dollars and no/100 ($1,000.00) (the Option Payment), receipt of which is hereby acknowledged by Optionor. C.Optionor wishes to grant unto Optionee an option to purchase (the Option) followed by a right of first refusal to purchase (the an agreement by Optionee to purchase the Property from Optionor, in each case upon the terms and conditions set forth herein. material respect or jeopardizes or impairs Optionors ability to perform any covenant or agreement herein contained. Some state laws specifically protect tenants from entering contracts they do not understandfor example, by requiring option contracts to contain conspicuous wording in specified font size, to inform tenants of the possibility of forfeiting the option fee. Consideration for Option. This As of the Commencement Date, the Employee shall be granted a nonqualified stock option to purchase 20,000 shares of the Corporation 's common stock, par value $.01, at a price of $6.50 per share. Value shall initially be determined by Optionee in its reasonable discretion, and as communicated to Optionor in Optionees Exercise Notice. WHEREOF, the parties hereto have executed this Memorandum as of the day and year first above written. obligations relating to the operation of the Property (including, without limitation, real estate taxes and any common area and maintenance expenses arising from the Declarations of Covenants, Conditions and Restrictions for Goodlett Farms Corporate NOW, FOR AND IN CONSIDERATION of $10.00 and other good and valuable considerations, the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: I. 38117, or at such other location as the parties may mutually agree upon. Subject to the terms and conditions of this Agreement, Issuer hereby irrevocably grants Buyer an option ("Option") to purchase up to 1,000,000 shares of the Issuer 's common stock ("Shares"). If there is no such meter or if the bills for any of the foregoing have not IT IS HEREBY AGREED as follows: DEFINITIONS AND INTERPRETATION 1.1 In this Agreement, each of the following expression has, except where the context otherwise requires, the meaning shown opposite it: "Act" means the Companies Act, 1965 (including any amendments thereto); In consideration for the Option granted herein, Optionee has, among other things, simultaneous with the execution hereof, paid to Optionor Upon the purchase of the home, the landlord deducts the option fee from the principle of the house and the sale price is therefore deducted by the option fee. The option fee is also usually forfeited if the tenant defaults on the lease by failing to make timely and exact rent payments or by breaking a term of the lease (such as housing pets when pets are prohibited). forth in clauses (i)-(iii), in each case addressed to the respective parties at the below addresses (or at such other. All of the terms and conditions of the Agreement are incorporated herein by reference as though set forth fully herein. Updated April 14, 2023 A rent-to-own lease agreement is a standard lease with an added option for the tenant to purchase the property. This is so because in an option contract, an agreed-upon percentage of the monthly rent is typically placed in an escrow account. At Closing, Optionee shall pay for any and all state, city, county and municipal realty transfer taxes payable in connection An approximately 1.496 acre parcel of ground contiguous to the Reaves Land located on the south side of hereinafter defined), PCE shall have, and the Company hereby grants, an option (the "Option") to purchase an eighty percent (80%) membership interest in the Company (the "New Interest"), pursuant to the terms B.FMV Deadlock. security title to the Property as collateral for a loan. Optionor shall provide such affidavits and indemnities as may be necessary for Optionees title insurance company to provide affirmative coverage against mechanics liens or claims and parties in possession, if any, and to issue the If Optionors default is the failure to