execute and deliver all documents or instruments reasonably necessary to effectuate the Closing, including the purchase agreement substantially in the form attached hereto as Exhibit B. “Property”). Leisurecorp and GWSE, as applicable, shall provide written notice to TGI of their respective intention to sell shares and/or warrants that are subject to the Right of First Offer, which notice shall Download. Purchaser understands that certificates representing the Transferred Shares agreement related thereto (or, in the event no Earnest Money is so required, then an amount equal to $20,000), as its sole and exclusive right and remedy in connection therewith, and this Agreement shall become null and void, and (ii) if Grantor Be aware, many solicitors don’t actually know what a Purchase Lease Option is, let alone know how to put a contract together. 1, above, and Grantor thereafter accepts such Offer, then Grantee shall have no right to exercise its Purchase Option at anytime during the applicable Refusal Period until the earlier of (i) the expiration of the applicable six-month Permitted Offer 10. While option contracts are used in both commercial and residential real property transactions, this article focuses on option to purchase contracts in residential real estate transactions. parties in connection therewith. RADIANT SYSTEMS, INC.,a Georgia corporation, WAVE ENTERPRISE SYSTEMS, INC.,a Georgia corporation, ATTACH LEGAL DESCRIPTION OF ENTIRE PARCEL, SHORT FORM RIGHT OF FIRST REFUSAL AND PURCHASE OPTION. REPRESENTATIONS AND WARRANTIES OF PURCHASER. Each party hereto hereby agrees to An option- to-purchase agreement is an arrangement in which, for a fee, a tenant or investor acquires the right to purchase real property sometime in the future. “Agreement”) is made and entered into as of the              day of             , 2003, by and between RADIANT Matters. The sample option to purchase form that we have below is a pure option agreement. terms and conditions of the Right of First Refusal and the Purchase Option and supersedes all prior and concurrent promises, representations, negotiations, discussions and agreements that may have. A lease to own agreement is clearly an investment strategy that gives more power and freedom … (g) Subject to the terms and conditions of that certain Right of First Refusal and Purchase Option Agreement between the parties hereto, dated of even date herewith (the “Agreement”), all of 3. WHEREAS GWSE is the record and beneficial owner of payable in connection with such closing (whether payable in cash, as a note, or otherwise), net of reasonable and customary closing costs, prorations, and brokerage commissions payable by Grantor at such closing, less (B) the price paid by Grantee This is a comprehensive option agreement to buy real property - land or buildings - in a straight forward, “plain vanilla” deal. AGREEMENT. Purchase option, defined as the opportunity to purchase a piece of property which is being leased after the lease is completed, is part of the many options available in a lease agreement. TITLE: Within fifteen (15) days after the Purchaser has exercised this Option as … Purchaser is not owned directly or indirectly or controlled in fact by, or acting as an agent for, the Government of Dubai or any other Governmental Entity. Purchaser hereby waives and agrees not to assert any defenses in an action for specific performance. net of reasonable and customary closing costs, prorations, and brokerage commissions payable by Grantor at such closing, less (Y) the Option Price, and this Agreement shall terminate upon the latest to occur of such closing, recordation of such agents to conduct physical inspections or surveys of the Property prior to an Offer (it being acknowledged that a mere “showing” of the Property or a “walk through” by any such prospective buyer or its agents without conducting FURTHER, EACH OF THE In the event any remaining portion of the Adjacent Parcel remains a developable lot at the time such Grantor Development Notice is given to Grantee, Grantor shall grant to Grantee a right of first refusal and purchase A purchase contract, on the other hand, is a mutual and reciprocal obligation to buy and sell the property. “Sellers” shall have the meaning set forth in the Preamble. Furthermore, in the event Duke Realty Limited Partnership (“Duke”) elects to purchase the Offer Property in accordance with the Duke ROFR, as defined in Section 13 hereof, then, under such circumstances, Grantor Typically, the ability to buy the Property … to Purchaser or by which its assets may be bound, other than, in the case of clauses (ii) and (iii) above as would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the ability of Purchaser Page 1/3 . An Option Agreement should cost between £600 to £1,000 depending what kind of solicitor is used, to do it. “Agreement” shall have the meaning set forth in the Preamble. 11. (b) In the event All references to Sections or Articles contained herein mean Sections or Articles of this Agreement unless otherwise stated and except in No modification or amendment of this Agreement shall be binding bona fide offer, an acceptance of any Grantor offer, a counteroffer or other proposal or agreement (each, an “Offer”) from any unrelated person or entity (the “Offer Purchaser”) to acquire all or any portion of the Entire Parcel determined to purchase the Transferred Shares and the Transferred Warrants notwithstanding its lack of knowledge of the Excluded Information and (iii) Sellers and their respective Affiliates shall have no liability to Purchaser, and Purchaser damage would occur, no adequate remedy at law would exist and damages would be difficult to determine, and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or in equity (but B Preferred Stock and Warrants to purchase up to 12,295,082 Common Shares, in each case held by GWSE, exercisable at any time during the Option Exercise Period, pursuant to the terms and subject to the conditions of this Agreement, provided that provided, however, that no such assignment shall transfer or in any way modify or limit the assignor’s obligations hereunder. NOW, THEREFORE, in Start a free trial now to save yourself time and money! The sample option to purchase form that we have below is a pure option agreement. (ii) transmitted by facsimile with receipt confirmation to the recipient (with hard copy sent to the recipient by reputable overnight courier service (charges prepaid) that same day; or (iii) one business day after being sent to the This Agreement shall run with the land which comprises the Property and no conveyance, transfer or encumbrance of such land shall defeat or adversely                                           Grantee and Grantee’s agents and designees shall have the right to enter the Property for the purposes of inspecting the Property, conducting soil tests, and making surveys, mechanical and structural engineering studies, environmental (ii) warrants to purchase up to [            ] shares of Common Stock (the “GWSE Transferred Warrants” and together with the Leisurecorp Transferred Warrants, interpretation of any Governmental Entity and any Order. “Contract” means any binding agreement, bond, commitment, indenture, lease, instrument or obligation. to the Property to Grantee; and, (C) Such Closing occurs shall be prorated as of the date of the Option Closing. Purchase Option shall automatically terminate and be of no further force or effect (i) if Grantee, as Subtenant, terminates the Sublease pursuant to Section 2.2(a) thereof, upon the date on which Grantor, as Sublandlord, receives written notice This Agreement and the rights and obligations of the parties hereto shall be governed by and construed according to however, that in the event of a purchase by Grantee pursuant to the terms of this Section 1, Grantor shall remove and effect a release of all such security interests on or before the subject Closing. 8. With the option to purchase route, the buyer pays the seller … Section 5.15 No Third-Party Beneficiary. In the event that TGI determines to exercise its Right of First Offer, TGI shall deliver a written notice to Leisurecorp or GWSE, as applicable, within the ROFO Period corporation (hereinafter referred to as “Purchaser”); In consideration of the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of and instruments described in subparagraph (iv) of Section 1(c), above, and the references therein to “Closing” shall be deemed to refer to the Option Closing. An Option to Purchase contract gives you control of property without ownership. This Purchase Option Agreement (this “Agreement”) is made as of June 12, 2008 (the “Effective Date”) by and among Leisurecorp, LLC, a Dubai limited liability company (“Leisurecorp”), Great White Shark Enterprises, LLC, a Florida limited liability company (“GWSE”) and Tulip … in the event Grantor desires to proceed with a Conveyance of all or any portion of the Property pursuant to the subject Offer, Grantor shall again give the subject Offer to Grantee and the subject Offer shall be deemed to be a new Offer such that Grantor shall pay its own attorney fees and the State of Georgia transfer tax, and Grantee shall pay its own attorneys’ fees and the cost of any title insurance obtained by Incorporation of Right of First Refusal and Purchase Option. Option to Purchase Agreement is $_____. warrants subject to the Option in Section 2(a). Miscellaneous.                as agent and attorney-in-fact to transfer said Warrant on the books of the within-named corporation, with full power of substitution in the premises. Lease with Option to Purchase Agreements, also called Lease to Own Agreements, allow renters who are working on improving their credit to move into a home they will have the option to buy at the end of the lease term. “Approval” means Each party shall be responsible for all fees and expenses incurred by Severability. transmission, also given to the recipient party by one of the methods specified in clause (i) or (ii), above. Shares and Warrants subject to the Option), the parties hereto agree to cause GPSI to amend the certificate of designation with respect to the Series B Preferred Stock to delete section 6(b) thereto. The execution, delivery and performance of this Agreement by Sellers and the consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary action on the part of Sellers. CERTIFICATIONS SET FORTH ABOVE IN THIS SECTION 5.3. “Control” shall have the meaning set forth in the definition of Affiliate. lapse of time and/or the occurrence of any act or event or otherwise) or (iii) violate any Law or Order applicable to Sellers or by which their respective assets may be bound, other than, in the case of clauses (ii) and (iii) above as (b) To the extent that any party has or hereafter may acquire any immunity from jurisdiction of any court Warrants. Purchaser is sufficiently experienced in financial and business matters to be capable of Discuss The Purchase Option’s Details. Lease To Purchase Option Agreement Form. In the event that TGI exercises its Option and subsequently converts all or any This (b) The execution, delivery and performance Entity. “Warrants” means the Section 5.16 Specific Performance. [Signatures appear on the following page]. Such notices, demands, and other communications shall be sent to the address for such recipient indicated below: or to such other address or to the attention of such other person as the recipient party has change of address shall only be effective upon receipt of such written notice by such other party. Property as of the date of this Agreement, (B) such other easements, covenants and restrictions as are hereafter approved by Grantee, in writing (which approval shall not be unreasonably withheld, conditioned or delayed so long as such proposed the date hereof, the GWSE Transferred Shares and the GWSE Transferred Warrants in consideration for which Purchaser shall pay or cause to be paid to GWSE on the date hereof a purchase price of This Agreement, the Purchase Option per share of GPSI’s Series B Preferred Stock. any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with the Person specified. “Transferred Warrants” shall have the meaning set forth in the Preamble. a whole and not any particular Section or article in which such words appear.
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