required by the Internal Revenue Code of 1986, as amended, and the U.S. Treasury regulations promulgated thereunder (unless the Grantors are otherwise able to establish an exemption from U.S. federal income tax withholding). such Conveyance occurs, and the deed from Grantor effecting such Conveyance is recorded in the Official Records of the Clerk of the Superior Court of Fulton County, Georgia, within six (6) months following the date Grantor shall have first given a Contract means any binding agreement, bond, commitment, indenture, lease, instrument or obligation. which are hereby acknowledged, Seller and Purchaser hereby agree as follows: 1. An option to buy contract is an agreement between two parties where an investor or tenant pays a fee in exchange for the rights to purchase property at some point in the future. and Purchase Option pursuant to Subparagraph (b) or (e), above, Grantee shall execute and deliver to Grantor such documents of release as are reasonable and necessary to remove the encumbrance of this Agreement from the Property and/or the Entire written or oral, other than those set forth or referred to herein. other documents (including, without limitation, a corporate resolution or other evidence of the authority of Grantor and its signatories to enter into such transaction) as may be reasonably required by Grantee or Grantees title. burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when two or more counterparts Any exercise of the Option, whether in whole or in part, by TGI shall be allocated written amendment signed by all of the parties hereto (other than GPSI, for the avoidance of doubt). IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. If any provision of this (iv) Any and all ad valorem or similar taxes or assessments on the Property for the year in which the Option The lease to purchase option agreement form template shows a form that is to be filed by the filled and signed by the lessor and the lessee. 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. consummate the purchase and sale of the Property after exercising its Right of First Refusal and such failure constitutes a default by Grantee, Grantor shall be entitled to liquidated damages in an amount equal to the amount of Earnest Money Free Download. portion of its Series B Preferred Stock into Common Shares, each of Leisurecorp and GWSE hereby agrees to convert the same proportional amount (relative to the total number of shares of Series B Preferred Stock owned by it prior to such conversion) RV Purchase Option Agreement Page- 2 . company (âTGIâ). Prior to each purchase of Option Shares and Warrants, the Grantors shall cause GPSI to provide (and GPSI acknowledges and hereof, no Approval is necessary to be obtained or made by Sellers in connection with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby. shall mean any natural person, association, corporation, general partnership, limited partnership, limited liability company, limited liability partnership, proprietorship, joint venture, trust or any other entity, organization or Governmental (iii) At the Option Closing, Grantor shall execute and deliver to Grantee the documents This Agreement and the performance of the of its obligations with respect to this Agreement. A purchase contract, on the other hand, is a mutual and reciprocal obligation to buy and sell the property. 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 Offer, Leisurecorp or GWSE, as applicable, may consummate the transaction contemplated by the Offer Notice so long as the transaction is consummated within sixty (60) Business Days of the expiration of the ROFO Period. as TGI has converted of their Series B Preferred Stock into Common Shares (relative to the total number of shares of Series B Preferred Stock owned by it before giving effect to TGIs conversion). of $[ ] in. If Buyer/Tenant tim ely . Upon the delivery of their respective Transferred Shares and the Transferred Warrants by Sellers to Purchaser, 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. In the event of the termination of Grantees Right of evaluating the merits and risks involved in purchasing the Transferred Shares and the Transferred Warrants and to make an informed decision relating thereto. affidavit in form and substance customarily utilized in the State of Georgia and reasonably acceptable to Grantee and Grantees title insurance company relating to, among other things, ownership and possession of the Property, the improvements (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 constitute a breach or default under, or result in the termination, acceleration or cancellation of, or the loss of benefit under, any Contract to which Sellers are a party or by which their respective assets may be bound or affected (whether upon A developer and a landowner can enter into an Option Agreement, which gives the developer the option to purchase the land (usually at and agreed sum, or at market price less pre-agreed deductions) and the ability to obtain planning, without the risk that they will be compelled to acquire a â¦ Grantee at the Closing, good, marketable and insurable fee simple title to the Property free and clear of all liens, leases, encumbrances, encroachments, restrictions, covenants, assessments, charges, taxes. execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. investment in the Transferred Shares and the Transferred Warrants. (the Property) on the terms and conditions set forth in this Agreement. copy of the subject Offer to Grantee (the Permitted Offer Closing Period). First Refusal and the Purchase Option. event Grantor for any reason cannot convey title to the Property to Grantee in the manner required by this subparagraph, then Grantee may, in addition to all other remedies it might have at law or in equity, either (A) rescind its election to Section 4.3 Compliance. 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 OR ALL OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE ANY OBJECTIONS TO VENUE OR TO CONVENIENCE OF FORUM. the Appendices hereto, wherein references to Sections or Articles shall mean Articles or Sections of such Appendices unless otherwise stated. SUBMITS TO THE JURISDICTION OF ANY COURT OF THE STATE OF [NEW YORK] LOCATED IN [NEW YORK COUNTY, NEW YORK ]AND ANY FEDERAL COURT LOCATED IN NEW YORK COUNTY, NEW YORK WITH RESPECT TO ANY PROCEEDING RELATING TO THIS AGREEMENT. organization and has all requisite power and authority to perform its obligations under this Agreement and to consummate the transactions contemplated hereby. Organizational Documents means, with respect to any party, as applicable, the certificate of incorporation, articles of incorporation, memorandum and articles of association, certificate of formation, by-laws, articles of Purchase Option Explanation. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. The right of first refusal and purchase option granted on such other portion of the Adjacent Parcel, if any, pursuant to clause (ii) of the final sentence , 2003, by and between RADIANT SYSTEMS, INC., a Georgia corporation (hereinafter referred to as Seller) and WAVE ENTERPRISE SYSTEMS, INC., a Georgia be given to any party shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service or three days after being mailed by certified or registered mail, return receipt requested, with Section 3.3 Ownership of the Transferred Shares and the Transferred Warrants. Shares shall have the meaning set forth in the Preamble. provided, however, that no such assignment shall transfer or in any way modify or limit the assignors obligations hereunder. rescind its election to exercise the Purchase Option, or (B) elect to cure any defect or defects in title and deduct the expense of curing such defect or defects from the Option Price. Warrants. interests and such security interests shall in all events be subject and subordinate to the rights of Grantee hereunder; provided further, however, that in the event of a purchase by Grantee pursuant to the terms of this Section 2, Grantor shall contained herein to the contrary, Grantee acknowledges and agrees that Grantor shall have the right, at any time, to grant security interests against the Property and/or the Entire Parcel in connection with any loans hereafter obtained by Grantor 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 conditions set forth in the second succeeding paragraph of this Section 4. Common Stock shall have the meaning set forth in the Preamble. Furthermore, notwithstanding any other provision contained herein to the contrary, Grantee acknowledges and agrees that, in the event the closing with respect to an Offer occurs, and such deed is so recorded, within the applicable six-month and that such granting of security interests against the Property and/or the Entire Parcel shall not be deemed a Conveyance for the purposes hereof nor shall the same constitute an event of default by Grantor hereunder; provided, however, that in no In the event that the Purchaser exercises its exclusive Option as provided for in the â¦ insurance company to convey title to the Property to Grantee as required by this Agreement or otherwise Time is of the essence of this 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. BEHALF OF ITSELF AND ITS AFFILIATES) AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING WILL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY APPLICABLE LAW. Purchaser and its Affiliates are in compliance in all material respects with the applicable requirements of (a) the Anti-Money Laundering Laws and (b) the U.S. Trading itself, compliance by the other party with any term or provision of this Agreement on the part of such other party to be performed or complied with. ROFO Period) to consider exercising its Right of First Offer. This Simple Option Agreement for Purchase of Land enables a landowner to grant an option to a buyer. Price); such Purchase Price shall be paid by Grantee to Grantor at the closing of such purchase and sale (the Closing) by certified funds or cashiers check; (ii) the purchase and sale shall otherwise be on the same terms and conditions as set forth in the subject In relation to the foregoing, Grantor acknowledges and agrees that it shall not IN WITNESS WHEREOF, this Agreement was duly executed on the date first written above. as of the date first above written. If the buyer decides not to purchase then the seller must go through the same cycle of selling the property, which consumes time, energy and money. of such amount to Grantee. such written notice or any earlier date for the closing of such purchase and sale that Grantee may specify in such written notice to Grantor. GRANTOR RIGHT TO DEVELOP. inserted for convenience of reference only and will not affect the meaning or interpretation of this Agreement. Section 5.16 Specific Performance. Option Fee, and this agreement shall become absolutely null and void and neither party hereto shall have any other liability, obligation or duty hereinunder or pursuant to this Agreement. You can buy an option to buy a domain name, a patent, or a car under any terms you like. TITLE: Within fifteen (15) days after the Purchaser has exercised this Option as â¦ The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable Refusal and Purchase Option may be assigned by Grantee only with the prior written consent of Grantor; provided, however, that Grantee may assign this Agreement and the Right of First Refusal and Purchase Option without the prior written consent of Purchaser is sufficiently experienced in financial and business matters to be capable of TRANSFERRED SHARES AND THE TRANSFERRED WARRANTS, (a) Subject to the terms and conditions of this Agreement, (i) Purchaser agrees to purchase from Leisurecorp, and Leisurecorp agrees to sell and 2.2(a) thereof or otherwise terminates the Sublease because of a default thereunder by Grantee, as Subtenant, the date on which the Sublease so terminates. and customary closing costs, prorations, and brokerage commissions payable by Grantor at such closing, less (B) the Option Price, and (ii) this Agreement shall terminate upon the latest to occur of such closing, recordation of such deed, and payment 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. Option to Purchase. terms and conditions of the applicable transaction change in any material way, including without limitation, a reduction in the price payable for the shares and/or warrants, from that which are set forth in the Offer Notice or (ii) the (b) To the extent that any party has or hereafter may acquire any immunity from jurisdiction of any court among the Grantors such that seventy percent (70%) of any purchase of Option Shares and Warrants shall be purchased from Leisurecorp and thirty percent (30%) of any purchase of Option Shares and Warrants shall be purchased from GWSE. becoming entitled to exercise its Right of First Refusal and Purchase Option with respect to the Property, then the Right of First Refusal and Purchase Option with respect to the Property shall terminate. This Purchase Option Agreement (this âAgreementâ) is made as of June 12, 2008 (the âEffective Dateâ) by and among Leisurecorp, LLC, a Dubai limited liability company (âLeisurecorpâ), Great White Shark Enterprises, LLC, a Florida limited liability company (âGWSEâ) and Tulip Group Investments, Limited, a B.V.I. 2. in connection with the Closing; (v) Any and This Agreement, the Purchase Option PDF; Size: 190 KB. the Offer Purchaser) on terms that are the same, in all material respects, as the terms and conditions set forth in the subject Offer (it being acknowledged that, without limitation of the foregoing, a purchase price less than ninety-five percent affect this Agreement. subject to Section 5.11). 12. In the Warrants means the Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted assigns and successors of such party; and all covenants, promises and agreements by or on behalf of the such party that are Common Shares, which is consistent with the ratio of Option Shares and Warrants described in Section 2(b) of the Agreement and shall be apportioned between REPRESENTATIONS AND WARRANTIES OF PURCHASER. 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 Assurances. Development Notice). Notwithstanding the foregoing or any other thereof from Grantee, as Subtenant, or (ii) if Grantor, as Sublandlord, terminates the Sublease pursuant to Section 2.2(a) thereof or otherwise terminates the Sublease because of a default thereunder by Grantee, as Subtenant, the date on which the materially damage the Property; and provided further, however, that Grantee shall indemnify and hold Grantor harmless from and against any and all claims for injury to person or damage to property, to the extent directly TIME OF ESSENCE. 7. If you have any doubts, â¦ Option Shares means the shares of GPSIs Series B Preferred Stock subject to the Option. 5. ARTICLE II PURCHASE AND SALE OF THE TRANSFERRED SHARES AND THE TRANSFERRED WARRANTS, ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLERS, ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PURCHASER, Appendix A Form of Assignment of Warrant. (i) [ ] Shares (the GWSE Transferred Shares and together with the Leisurecorp Transferred Shares, the Transferred Shares) and An option to purchase is an agreement between parties that gives one party (the purchaser) the right to take up the option to purchase property, goods and/or land from the other party (the vendor) at any time within a specified period. Real Estate Lease Agreement with Option to Purchase Agreement Form â This form variety has the same contents and terms to basic lease agreements, however, the difference is that it is intended for real estate leases. Notwithstanding any provision to the contrary set forth herein, nothing contained herein, express or thereon, and the absence of liens on or indebtedness secured by the Property; (B) A limited warranty deed in a form customarily utilized in the State of Georgia and reasonably acceptable to Grantee duly executed by an authorized officer or officers of Grantor for the purpose of conveying title From time to time after the date hereof, without additional consideration, each of the parties will (or, if appropriate, cause their subsidiaries or Affiliates to) execute and deliver such further instruments and take such other Offer). Transferred Warrants shall have the meaning set forth in the Preamble. A lease to own agreement is clearly an investment strategy that gives more power and freedom â¦ WHEREAS, the Property is part of an approximate 16.667 acre tract which is described on Exhibit B attached hereto (the Entire Parcel) (for the purposes of this Agreement, 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. exercised its rights pursuant to the Duke ROFR with respect to such Offer, Grantor shall immediately give written notice thereof to Grantee. It is understood that such short-form of this Agreement shall be for purposes of recordation Fixed Price Purchase Option: The right, but not the obligation, to buy a leased item at a predetermined price. provisions. Sellers shall have the meaning set forth in the Preamble. An Option to Purchase contract gives you control of property without ownership. WHEREAS, Grantor has agreed to grant to Grantee a right of first $[ ] in cash, in each case to be wired to Leisurecorp and GWSE respectively, in immediately available funds in accordance with the instructions delivered by each of them The S under the Securities Act. Grantor shall pay its own attorney fees and the State of Georgia transfer tax, and Grantee shall Agreement is solely for the benefit of the parties and their respective permitted successors and assigns and no other Person shall have any rights or remedies hereunder. Section 5.15 No Third-Party Beneficiary. Agreement is determined to be invalid, prohibited or unenforceable, the remaining provisions of this Agreement shall remain in full force and effect without regard to such invalidity, prohibition or unenforceability. Purchaser shall have the meaning set forth in the Preamble. Offer, including, without limitation, any due diligence period and termination right afforded to the prospective Offer Purchaser in connection therewith and any provisions regarding remedies (but in all events, (i) if Grantee fails to ASSIGNMENT. Grantee may again have the opportunity and right to exercise the First Refusal Right with respect thereto pursuant to the terms and conditions of this Agreement. An Option Agreement provides the tenant-option holder the right to purchase the property at an agreed price during the lease term or other specified term, also called the âOption Periodâ, in exchange for a fee paid to the seller called the âOption Fee.â consideration of the premises and mutual agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: As used in this Agreement, including the appendices hereto (which for the avoidance of doubt are deemed part hereof), the terms set forth in this Article GRANT OF CALL OPTION 2.1 In consideration of the premises, the Grantor hereby grants to the Grantee the option (âCall Optionâ) to purchase the Option Shares, on the exercise of which the Grantor shall become All of the representations and warranties contained in such hazardous materials are brought onto the Property by Grantee or Grantees agents, employees, consultants or Signed, sealed and delivered in the presence of: RADIANT SYSTEMS, INC., a Georgia corporation, WAVE ENTERPRISE SYSTEMS, INC., a Georgia corporation. 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. parties. parties in connection therewith. (TGI). Option Exercise Period means the period beginning on the date hereof and ending October 12, 2009. Section 5.11 Limitation of Liability. obtained or made by Purchaser in connection with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby. It is further agreed that the maximum liability of Sellers for any breach of this Agreement shall be limited to the respective amount of the If either (i) the This Agreement is intended as a complete and exclusive statement of the terms and conditions of the Right of First Refusal and the Purchase Option and supersedes â¦ Section 5.4 Entire Agreement. hereby waives and releases any claims that it might have against Sellers and their respective Affiliates, whether under applicable securities laws or otherwise, with respect to the nondisclosure of the Excluded Information in connection with the such Option Shares and Warrants shall be shares of Series B Preferred Stock and Warrants originally purchased by GWSE and Leisurecorp, respectively, in November 2006. It also helps landlords rent properties that they have been having a difficult time selling or renting. 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. This PURCHASE AGREEMENT (this Agreement), dated as of June , 20 , is by and among Leisurecorp LLC, a Dubai limited liability company The Section and Article headings contained in this Agreement are subject building to be developed by Grantor on the Property and the breaking of ground on the subject Property in connection with such development within such nine-month period shall automatically and forever terminate the Right of First In all cases, such notices and other communications shall be addressed as follows: The Grantor, on the (b) Notice; Exercise of Right. lapse of time and/or the occurrence of any act or event or otherwise) or (iii) violate any Law or Order applicable Agreement shall be held invalid, illegal or unenforceable, the validity, legality or enforceability of the other provisions of this Agreement shall not be affected thereby, and there shall be deemed substituted for the provision at issue a valid, (a) Grant of the Option. Grantor shall be obligated to remove all monetary liens encumbering the Property on or before Available for PC, iOS and Android. CONTRACT FOR PURCHASE & SALE OF REAL PROPERTY. cash, (ii) Purchaser agrees to purchase from GWSE, and GWSE agrees to sell and deliver to Purchaser, in each case on date the term of the Sublease expires or the Sublease is otherwise terminated. (95%) of the purchase price set forth in the applicable Offer shall be deemed to be a Conveyance on terms that are not the same, in all material respects, as the terms and conditions set forth in the subject Offer) such that the closing of 8. set forth in the preceding paragraph of this Section 4 and Grantor confirms the same, in writing, to Grantee, then the right of first refusal and purchase option granted on such other portion of the Adjacent Parcel, if any, shall terminate, and the benefit of the parties and their respective successors and permitted assigns.
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