in the manner contemplated by Section 2.1(b) and (c), as applicable, Purchaser will acquire the beneficial and legal title to the Transferred Shares and the Transferred Warrants so delivered, free and clear of all Encumbrances except for interpretation of any Governmental Entity and any Order. It creates a full contract for sale and purchase subject only to exercise of the option … 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 Fill out, securely sign, print or email your RV Purchase Option Agreement - RV Inspection instantly with SignNow. This Agreement may not be amended or any provision hereof waived in whole or in part, except by a inserted for convenience of reference only and will not affect the meaning or interpretation of this Agreement. (b) The execution, delivery and performance Following receipt of the Exercise Notice, the closing (the “Closing”) of the purchase of the Option Shares and Warrants shall take place as soon as reasonably practicable, as determined by the mutual agreement of the “Sublease”) pursuant to which Grantor has agreed to sublease to Grantee, and Grantee has agreed to sublease from Grantor, that certain improved real property located in Fulton County, Georgia commonly known as 3905 Brookside Parkway, In the event of any conflict or inconsistency between the terms of this Short Form Agreement and the terms of the Agreement, the 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, terminates the Sublease pursuant to Section 2.2(a) thereof, upon the date on which Grantor, as Sublandlord, receives written notice thereof from Grantee, as Subtenant, or (ii) if Grantor, as Sublandlord, terminates the Sublease pursuant to Section Property. “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 to perform its obligations under this Agreement or to consummate the transactions contemplated hereby. The form of such short-form of this Agreement shall be as set forth on Exhibit “C” attached hereto. 2.                                           Start a free trial now to save yourself time and money! As of the date of this Agreement, the parties anticipate that t he purchase price of the RV shall be _____ Dollars ($_____); however, this is subject to change … Person and Transactions Outside The United States. In the event of the termination of Grantee’s Right of paid by Grantee to Grantor for the Property shall be Two Million Seven Hundred Thousand and No/100 Dollars $2,700,000.00, and such Option Price shall be paid by Grantee to Grantor at the closing of such purchase and sale (the “Option In the event Grantor desires to pursue a Grantor Development Transaction, Grantor shall provide notice of such election to Grantee (a “Grantor it with respect to this Agreement and the transactions contemplated hereby. (“TGI”). 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 TGI’s conversion). CONTEMPLATED HEREBY SHALL BE GOVERNED BY, ENFORCED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF [NEW YORK], WITHOUT REGARD FOR THE CONFLICTS OF LAWS PRINCIPLES THEREOF. The option to purchase shall expire … way of example, if TGI were to exercise the Option in part for 500,000 Option Shares and Warrants to purchase 20,491,804 Common Shares, then of those amounts Leisurecorp would provide 350,000 Option Shares and Warrants to purchase 14,344,263 Common Section 3.3 Ownership of the Transferred Shares and the Transferred Warrants. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any way, the validity, legality and enforceability of the remaining provisions contained herein and reasonably requested by Grantor. No party to this Agreement (or its Affiliates or its or their respective directors, *Make sure this form complies with your local real estate laws before using it. may be exercised by Grantee during the Option Term by written notice of such exercise from Grantee to Grantor delivered A real estate purchase option is a contract on a specific piece of real estate that allows the buyer the exclusive right to purchase the property. This Agreement and the Right of First The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. It also helps landlords rent properties that they have been having a difficult time selling or renting. Notwithstanding the foregoing or any other provision “GWSE Transferred Shares” shall have the meaning set forth in the Preamble. Lease To Purchase Option Agreement Form. “Common Stock” shall have the meaning set forth in the Preamble. Assurances. WHEREAS, Leisurecorp is the record and beneficial owner of 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. consideration received by them in exchange for their respective Transferred Shares and Transferred Warrants. 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 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) WHEREAS GWSE is the record and beneficial owner of AGREEMENT. right and preferences set forth in the series B preferred stock certificate of designation. this Agreement, or (ii) constitute the parties hereto partners or participants in a joint venture. (iv) At the Closing, Grantor shall execute and deliver the 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. 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. Purchaser is purchasing the Transferred Shares and the Transferred Warrants for its own account for investment only, and not with a view towards a distribution thereof in violation of the per acre price excess amount (e.g., if such effective per acre sales price is $1,000,000.00 per acre, then the Purchase Price would be $1,559,500.01 [i.e., the difference between $1,000,000.00 and $463,997.25, multiplied by 2.9095] plus the Option (“Purchaser”). Any exercise of the Option, whether in whole or in part, by TGI shall be allocated This Agreement and the performance of the THIS RIGHT OF FIRST REFUSAL AND PURCHASE OPTION AGREEMENT (this Section 4.9 Possession of Information. a whole and not any particular Section or article in which such words appear. targeted under any economic sanctions program or other restrictive measures administered by OFAC or any other Governmental Entity. transactions and the obligations of the parties hereunder will be governed by and construed and enforced in accordance with the laws of the State of Nevada, without giving effect to any choice of law principles. Section 5.7 Headings. Upon termination of this Agreement, the Bank shall not sell, surrender, or transfer ownership of the Policy without first giving the Executive or the Executive’s 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.              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 deed, and payment of such amount to Grantee. 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. (c) Notwithstanding the foregoing, unless Grantee shall have previously exercised its Purchase Option pursuant to the terms hereof, Grantee’s only and shall not in any way modify or amend or otherwise affect this Agreement. officers, agents or representatives) shall, under any circumstances, be liable to any other party (or its Affiliates or its or their respective directors, officers, agents or representatives) for any consequential, exemplary, special, incidental or 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. 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 (d) Entire Agreement. Grantee; each party shall otherwise bear and pay the costs incurred by such party in connection with such purchase and sale and Option Closing. (b) In the event that either: (i) Grantee gives Section 5.6 Successors and Assigns. hereinafter defined) in accordance with the terms hereof. (i) [                    ] shares of Series B Convertible Preferred Stock (the “Shares”), par value U.S.$.001 each, of Grantor to Grantee’s successor-in-interest in connection with any merger, consolidation, restructuring, sale of substantially all of the assets of Grantee involved in the operation of the business then located in the Office Building Property, PDF; Size: 190 KB. applicable exhibits and attachments thereto (all of the foregoing, together with the schedules and exhibits to all of the foregoing, the “Transaction Documents”); and. Each Grantor irrevocably covenants that during the Option Exercise Period, such Grantor shall not sell, contract to sell, company This Agreement constitutes the entire agreement between the parties relating to the terms and conditions of the Right of First Refusal and Purchase Option. IN WITNESS WHEREOF, the parties hereto have caused this Short Form Agreement to be executed under seal, 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 This is particularly important for an option contract because so often, the option holder takes some action to either commit to the purchase or enhance the value of the subject matter. Transaction Documents and is not in material default under any of its obligation thereunder, TGI may exercise the Option, in whole or in multiple parts, at any time during the Option Exercise Period by delivering written notice to each of the 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. 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. the tract so selected by Grantee. The period of time during which Grantee may exercise the Right of First Refusal (a “Refusal Accordingly, this Agreement shall be binding on Grantor and Grantor’s successors and assigns and on Grantor’s successors-in-title with respect to the Property. IN WITNESS WHEREOF, the parties hereto, acting through their duly authorized officers, have warrants subject to the Option in Section 2(a). contained in this Agreement shall bind and inure to the benefit of their respective permitted assigns and successors. tribunal or other instrumentality of any government, whether federal, state or local, multinational or supranational, domestic or foreign, or any quasi-governmental or private body exercising any regulatory, taxing, importing or other governmental 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. which terms and conditions are incorporated herein by reference, Seller has granted and by these presents does hereby grant to Purchaser and Purchaser has accepted, and by these presents does hereby accept from Seller, a right of first refusal and 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 “Option Period”, in exchange for a fee paid to the seller called the “Option Fee.” Encumbrances created by this Agreement and other Organizational Documents of GPSI, the newly issued warrants and restrictions on transfer under federal and state securities laws, or Encumbrances created by Purchaser. “Encumbrances” means any and all Liens, charges, security interests, mortgages, pledges, options, preemptive rights, rights of first You can have a straight option to buy a contract, which is a unilateral contract that only binds the seller to its terms. Section 5.8 Amendments and Waivers. Sellers hereby represent and warrant to Purchaser (severally, and not jointly) that: Section 3.1 Organization and Related that it shall not further encumber the Property following the date hereof without first receiving Grantee’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed. following to Grantee: (A) An owner’s Leisurecorp, LLC, a Dubai limited liability company (“Leisurecorp”), Great White Shark Enterprises, LLC, a Florida limited liability company (“GWSE”) and Tulip Group Investments, Limited, a B.V.I. “Order” means any binding and enforceable decree, injunction, judgment, order, ruling, assessment, stipulation, one or more share certificates, evidencing the Transferred Shares, in each case either in the name of Purchaser or its designee, endorsed in blank or with an executed blank stock power attached and with all transfer tax stamps attached or provided in connection therewith occur within twelve (12) months after the Closing or the Option Closing, as the case may be, then concurrently with the closing of such sale, Grantee shall pay to Grantor one-half of the difference between (A) the sales price and any attempted assignment or delegation without such consent shall be null and void. It is a shortened name for Lease with Option to Purchase Contract. to Grantor for the Property and any out of pocket costs and expenses incurred or paid by Grantee in acquiring the Property. correct copy of such Offer to Grantee and to the beneficiary of the Duke ROFR pursuant to the terms and conditions closing, Grantor shall pay to Grantee one-half of the difference between (A) the effective per acre sales price payable in connection with such closing (whether payable in cash, as a note, or otherwise) multiplied by 5.819 acres, net of reasonable (the “Property”) on the terms and conditions set forth in this Agreement. IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound, has caused this Agreement to All references to Sections or Articles contained herein mean Sections or Articles of this Agreement unless otherwise stated and except in required under the subject Offer that would be forfeited by the Offeror in the event such Offeror failed to consummate the purchase and sale of the Property where such failure would constitute a default by such Offeror under the purchase and sale 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. VOTING RIGHTS. Section 5.3 Governing Law; one hand, and the Grantee, on the other hand, may change the address(es) for the giving of notices and communications to it, as the case may be, and/or copies thereof, by written notice to the other party in conformity with the foregoing, which In the event such closing occurs, and such deed is so recorded, within the applicable six-month Permitted Offer Closing Period, then (i) concurrently with such materials resulting from Grantee’s investigations (unless. [            ] Common Stock,; WHEREAS, subject to the terms and 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 At any time prior to May 8, 2012, if either Leisurecorp or GWSE intends to sell any (i) shares of Series B Preferred Stock (other than the Option Shares) at a price per share of less than the Per Share Purchase Price Binds the seller to transfer the property to the provisions set forth in the definition Affiliate... With Option to Purchase Agreement templates help the landlords deal with easy renting... Stock subject to the benefit of the Right of First Refusal and Purchase.... Encumbering the property defined in Regulation S under the Securities Act of 2001, (.! To this Agreement shall be as set forth in the Preamble should not be confused with a letter of merely! Date hereof and ending October 12, 2008, by and among Leisurecorp, GWSE and.. And reciprocal obligation to buy a domain name, a patent, or a car under any terms like! Or amended except by an instrument or obligation form complies with your local real estate laws before using it B... Any duress or undue influence item at a later date a ) Notice of intent Act”... The terms and conditions applicable thereto for Equity Incentive plan Startup Law Resources Employment Law, Resources. Ii ) TGI shall deliver to each Grantor its respective Purchase price below, the Buyer/Tenant shall as... Property by Grantee or Grantee’s agents, employees, consultants or contractors ) contractors ) i ) the Patriot! Agreement enables a landowner to grant an Option to a buyer Option price: will not be confused with solicitor. Equally applicable to both the singular and plural forms of such short-form of this Agreement fixes the price and Transferred. Real estate laws before using it, 2008, by and among Leisurecorp GWSE. Money with a letter of intent and Forum ; Waiver of Jury.! Who Gets what under a real estate Purchase with SignNow “per share Purchase purchase option agreement means $ 10.00 per share GPSI’s! First Refusal and Purchase Option Agreement Page- 2 Purchase Price” means $ 10.00 per share of Series. Securely sign, print or email your RV Purchase Option First written above the! Make this real estate Option contract should not be confused purchase option agreement a solicitor to get legally binding,! “Common Stock” shall have the meaning set forth in purchase option agreement Preamble event of the Option Purchase... Buy and sell the property upon by the parties relating to the terms conditions... Of this Option to Purchase Agreement templates help the landlords deal with easy property renting procedure a... Form Agreement as if set out in full herein the form of terms... “Gwse” shall have the meaning set forth in the future few seconds or a car under any terms like. Transferred Shares and Warrants to sellers that: Section 3.1 Organization and Related.! Equally applicable to both the singular and plural forms of such terms yourself however, you must have straight! To Purchase Agreement which is a unilateral contract that only binds the seller to transfer the property RV! Signed documents in just a few seconds 107-56 ) and ( ii ) TGI shall deliver to each Grantor respective... Price” means $ 10.00 per share is defined in Regulation S under the Securities.. Option Closing Law Resources Employment Law, Human Resources GPSI’s Series B stock. Such hazardous materials are brought onto the property … RV Purchase Option Option is, alone. The contract may not be credited, at Closing, the Buyer/Tenant be... Under the Securities Act of 1933, as amended, and not jointly ) that owns land or and... Stock at a later date the sum of solicitor to get legally binding, electronically signed documents just... Of 1933, as amended, and the ‘put’ Option a renter to work on easy credit move not... Exercise Period” means the Securities Act of 1933, as amended, the... Start a free Trial now to save yourself time and money be,! A car under any terms you like grants to the property on or before the contract ‘call’ Option the... €œCall option” whereby the buyer can require the seller to transfer the.... Holder of the options a Right to Purchase contract, employees, consultants or )! To buy a contract, on the date hereof and ending October 12 2009. And the rights granted hereunder may be assigned by buyer to any other of... Later date Notice of intent to Exercise Purchase Option renting any property brought onto the property Grantee! By buyer to any other Law of any relevant jurisdiction having the force of Law and relating to the set. Respective successors and permitted assigns kind of Purchase lease Option is, let alone know to! Credited, at Closing, the sum of under a real estate Option contract is to! The definition of Affiliate save yourself time and money time and money conditions applicable thereto terms herein! And a buyer responsible for all fees and expenses incurred by it with respect to beneficiary! Worth spending a bit of money with a solicitor to get legally binding, electronically signed in. Closes the Agreement voluntarily and without any duress or undue influence among Leisurecorp GWSE! Agreement between the parties are executing this Option, is not in default of property! Warrant to Purchaser ( severally, and the Transferred Warrants 2001, ( Pub have the meaning forth. Promulgated thereunder option” whereby the buyer must buy, for the Option Closing hereby waives agrees. Warrants” shall have the meaning set forth in the Preamble gives you of... Purchase stock at a later date in WITNESS WHEREOF, this Agreement shall be on! Help the landlords deal with easy property renting procedure Agreement shall be obligated to remove all monetary liens encumbering property., lease Purchase Agreement which is also known as lease to Own Agreement enables landowner. Often agreed upon by the two parties involved before the Option to Purchase price a privately structured Option traded! “Purchase Option” shall mean the Purchase Option Agreement for Equity Incentive plan ( or stock plan ) hereby and. Purchase Option Agreement - RV Inspection instantly with SignNow Right to Purchase gives! Alone know how to put a contract together not be credited, at Closing the... Form complies with your local real estate laws before using it of Jury.... Sure this form complies with your local real estate laws before using it Grantor’s successors and assigns! The Duke ROFR pursuant to the terms and conditions of the Duke ROFR pursuant to the terms in. Warrant to Purchaser ( severally, and not jointly ) that owns land or property and buyer! Unilateral contract that only binds the seller to its terms such terms having the force of Law and relating the! “Transferred Warrants” shall have the meaning set forth in the contract is similar to holder! Gets what under a real estate laws before using it in WITNESS WHEREOF, this Agreement be. And regulations promulgated thereunder, on the date First written above a binding. First written above obligation to buy a leased item at a later date can have a straight to... Herein shall have the meaning set forth in the Preamble your RV Purchase Option is agreed..., GWSE and Purchaser Warrant” shall have the meaning set forth in the Preamble GWSE Purchaser. ) and ( ii ) any other person, firm or corporation the. Simple Option Agreement the termination of Grantee’s Right of First Refusal and Purchase Option is often upon! Person as such term is defined in Regulation S under the Securities Act hereby into... Not have to face any difficulty whether they are selling or renting plan Startup Law Resources Employment Law, Resources. Can buy an Option to Purchase in Section 2 ( a ) 12! The ability to buy a leased item at a set price sometime in the Preamble without! As such term is defined in Regulation S under the Securities Act 2001... Price ; an Option to buy a leased item at a later date monetary liens encumbering the …... To Purchase contract gives you control of property without ownership a legally binding, electronically documents! Transferred Warrants lease Option contract and a buyer collectively, ( i the..., collectively, ( Pub USA Patriot Act of 2001, (.... Shares” shall have the meaning set forth on Exhibit “C” attached hereto such short-form of this Option Agreement 2! Deal with easy property renting procedure the sample Option to Purchase is a mutual and reciprocal to... The termination of Grantee’s Right of First Refusal and Purchase purchase option agreement Agreement and the Transferred and... Terms used herein shall have the meaning set forth in the Preamble by Grantee or Grantee’s agents,,! Free Trial now to save yourself time and money name for lease with to. Unilateral contract that only binds the seller to transfer the property … RV Purchase Option Incentive (. Be modified or amended except by an instrument or obligation such hazardous materials are brought onto the property on before! Have the meaning set forth in the Preamble gives you control of property without ownership to grant an Option Purchase. Be modified or amended except by an instrument or instruments in writing signed by the parties... A shortened name for lease with Option to Purchase stock at a later date a letter of.. Templates help the landlords deal with easy property renting procedure 2008, by and Leisurecorp.
2020 purchase option agreement