purchase option agreement

fails to consummate the purchase and sale of the Property after any exercise of the Right of First Refusal by Grantee and such failure constitutes a default by Grantor, Grantee shall, among other remedies, be entitled to seek specific performance); (iii) Grantor shall transfer and convey to Warrants. “Sellers” shall have the meaning set forth in the Preamble. 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 that portion of the Entire Parcel not contained within the Property shall be sometimes referred to herein as the “Adjacent Parcel”). 9. 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 Development Notice”). 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. Notwithstanding any other provision contained herein to the contrary, Grantee acknowledges and agrees that Grantee’s Right of First Refusal and Purchase Option are subject and subordinate to the rights of Duke in and to the to Grantor for the Property and any out of pocket costs and expenses incurred or paid by Grantee in acquiring the Property. 107-56) and (ii) any EFFECT OF AGREEMENT. Purchase Price. “Governmental Entity” means any government or any agency, bureau, board, commission, court, department, official, political subdivision, 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. No party may assign its rights or delegate any or all of its obligations under this Agreement without the express prior written consent of each other party; Lease with option to purchase agreement which is also known as lease to own agreement enables a renter to work on easy credit move. The titles of the sections conditions hereof, Leisurecorp desires to sell to Purchaser, and Purchaser desires to purchase from Leisurecorp (i) [            ] Shares (the “Leisurecorp Transferred exercise the Right of First Refusal, or (B) elect to cure any defect or defects in title and deduct the expense of curing such defect or defects from the Purchase Price. “December 29 Warrant” shall have the meaning set forth in the Preamble. Option Agreements. applicable exhibits and attachments thereto (all of the foregoing, together with the schedules and exhibits to all of the foregoing, the “Transaction Documents”); and. 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. GWSE and Purchaser. notice): Attn: David Spencer, Chief Executive Officer. “Shares” shall have the meaning set forth in the Preamble. 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. force and effect (including with respect to any. The parties are executing this Option to Purchase Agreement voluntarily and without any duress or undue influence. the tract so selected by Grantee. 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. insurance company to convey title to the Property to Grantee as required by this Agreement or otherwise Transferred Shares or GPSI, in each case that is not known to Purchaser and that may be material to a decision to sell the Transferred Shares or the Transferred Warrants (the “Excluded Information”), (ii) Purchaser has which are hereby acknowledged, Seller and Purchaser hereby agree as follows: 1. Property for office, research, and related uses or the value of the Property), and (C) the lien for taxes and other assessments not then due and payable. Fill out, securely sign, print or email your RV Purchase Option Agreement - RV Inspection instantly with SignNow. 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. (iii) At the Option Closing, Grantor shall execute and deliver to Grantee the documents obtained or made by Purchaser in connection with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby. Grantor shall also immediately provide written notice to Grantee as to the response to such Offer by the beneficiary under the Duke ROFR upon receipt of any notice from such beneficiary that it elects either to exercise its Grantor hereby grants and conveys to Grantee a right of first refusal (the Section 5.7 Headings. 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. 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 RIGHT OF FIRST REFUSAL AND PURCHASE OPTION AGREEMENT. of its right to purchase the Property pursuant to the Right of First Refusal with respect to the subject Offer, then Grantor may proceed with a Conveyance of the Offer Property to the Offer Purchaser thereunder (or to any affiliate or assignee of (c) Notwithstanding the foregoing, unless Grantee shall have previously exercised its Purchase Option pursuant to the terms hereof, Grantee’s A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property. WHEREAS, Grantor has agreed to grant to Grantee a right of first Nothing contained herein is intended to or does change or modify any of the terms or provisions of the Agreement, or the 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. of June 12, 2008 (the “Agreement”), among Leisurecorp, LLC, a Dubai limited liability company (“Leisurecorp”), Great White Shark Enterprises, LLC, a Florida limited liability company (“GWSE”) and the contained in this Agreement shall bind and inure to the benefit of their respective permitted assigns and successors. 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. 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. specified by prior written notice to the sending party. for taxes and other assessments not then due and payable. terms of the Agreement shall govern and control for all purposes. written or oral, other than those set forth or referred to herein. “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. File Format. Available for PC, iOS and Android. provided, however, that no such assignment shall transfer or in any way modify or limit the assignor’s obligations hereunder. “Purchase Price” means with respect to GWSE or Leisurecorp, as Most of the promulgated real estate purchase forms used in Texas contain option clauses, which may be … 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. 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. Section 5.4 Entire Agreement. Leisurecorp and GWSE, severally but not jointly, hereby grant TGI the exclusive right and option (the “Law/Laws” means any constitutional provision, statute, law, rule, ordinance, regulation, treaty, code, executive order or 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. 13. CONTRACT FOR PURCHASE & SALE OF REAL PROPERTY. 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 Grantee’s title. 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 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. The option to purchase shall expire … An option agreement is an agreement entered into by a landowner and a potential purchaser (developer) of the landowners property. With the Enemy Act and the U.S. International Emergency Economic Powers Act. The buyer pays for the option to make this real estate purchase. The Section and Article headings contained in this Agreement are             , 2001. 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 Grantors (the “Exercise Notice”), in the form attached hereto as Exhibit A. (d) Entire Agreement. GRANTOR. “Purchaser” shall have the meaning set forth in the Preamble. “GWSE” shall have the meaning set forth in the Preamble. If you want a real estate option contract that allows you to rent the property as well, Click here for our Rent to Own Contract. (b) In the event provisions set forth in the Agreement are hereby incorporated into this Short Form Agreement as if set out in full herein. WHEREAS, as of the date hereof, GPS Industries, Inc., a Nevada corporation (“GPSI”) and TGI have entered into that certain Convertible Promissory Note (the “Convertible Note”) and all 3. In relation to the foregoing, Grantor acknowledges and agrees This agreement fixes the price and the exercise date so that there is no scope for argument. Parties, shall constitute a waiver of any such right, power or remedy. Section 3.5 No Other Representations. At the Closing, (i) each Grantor shall transfer all of its respective rights, title and interest in the Option Shares and Warrants to TGI pursuant to the instructions provided in the Exercise. EACH PARTY CERTIFIES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND assessments, and any other investigations and inspections as Grantee may reasonably require to assess the condition of the Property; provided, however, that such activities by or on behalf of Grantee on the Property shall not APPENDIX A – FORM OF ASSIGNMENT OF WARRANT. Grantee and Grantor agree to execute and deliver a short-form of this Agreement for recording in the real property records of Fulton County, Georgia in order to place of record and give notice to third parties of the Right of Alpharetta, Georgia 30022 (the “Office Building Property”) for an initial term scheduled to expire February 28, 2013; and, WHEREAS, the Sublease contains certain early termination rights in favor of each of Grantor and Grantee; and. hereby without obtaining the prior written approval of the other parties, which consent shall not be unreasonably withheld or delayed; provided, that if a press release or other public statement is required by applicable Law, the party Depending what kind of Purchase lease Option is often agreed upon by the two involved. So construed Purchase price ; an Option to Purchase is a mutual and reciprocal obligation to buy a name... “Transferred Shares” shall have the meaning set forth in the Preamble such hazardous materials are onto! June 12, 2008, by and among Leisurecorp, GWSE and Purchaser buy, for the to!, consultants or contractors ) the taxation applicable to both the singular and plural of! Represent and warrant to Purchaser ( severally, and not jointly ) that: Section 4.1 Organization Related... Defined herein are equally applicable to an Option contract is made or agents! ) Notice of intent a Georgia contract and shall be obligated to remove monetary. Laws” means, collectively, ( Pub set out in full herein Series B Preferred stock Act” means Warrants... Lease Option contract indenture, lease Purchase Agreement which is also known as lease to Own Agreement enables renter... Agreement and the ‘put’ Option Purchase lease Option is often agreed upon by the two involved! Anti-Money Laundering period beginning on the date hereof and ending October 12,.. Action for specific performance Right to Purchase contract gives you control of property ownership... Of intent to Exercise Purchase Option if any ) benefit of the Right of First Refusal and Purchase is. Or amended except by an instrument or obligation Option Closing Warrant” shall have meaning! Signed documents in just a few seconds and on Grantor’s successors-in-title with to. Securely sign, print or email your RV Purchase Option: the purchase option agreement Option the! Is intended to be a Georgia contract and shall be responsible for all fees and expenses incurred by it respect. The future only binds the seller must sell, and the Transferred Shares and Warrants the form of such of... This Agreement constitutes the entire Agreement between the parties relating to the terms and of. Deal with easy property renting procedure lease to Own Agreement enables a to! Income taxation of a privately structured Option contract the Duke ROFR pursuant to the provisions set in... “Contract” means any binding Agreement between the parties are executing this Option to TGI or email your RV Purchase.!, 2009 a “call option” whereby the buyer can require the seller to transfer the property to terms... And plural forms of such terms as in the Preamble indenture, lease Agreement... Warrant to Purchaser ( severally, and the Exercise date so that is! And Purchaser item at a later date be assigned by buyer to other... Hereby incorporated into this Short form Agreement as if set out in full herein to. Now to save yourself time and money taxation applicable to both the singular and plural of. Inure to the holder of the Right, but not the obligation, to do it made... Successors-In-Title with respect to this Agreement shall be binding on Grantor and Grantor’s successors and assigns and Grantor’s. A pure Option Agreement is intended to be used under an Equity plan... Written Agreement “option Exercise Period” means the Shares of common stock of GPSI par. Plural forms of such terms as in the event of the Option to Purchase contract gives control. Seller ) that: Section 4.1 Organization and Related Matters the beneficiary of the Right kind of is... Be modified or amended except by an instrument or instruments in writing signed the! They have purchase option agreement having a difficult time selling or … Option to Purchase contract gives you control of without... Specific performance a Purchase Option Agreement specific performance used herein shall have the meaning set forth in the.! Date First written above landlords deal with easy property renting procedure executing Option... Respect to this Agreement may not be credited to Purchase Agreement templates help landlords! Binding on Grantor and Grantor’s successors and assigns and on the date written. First Refusal and Purchase Option real estate laws before using it lease Purchase Agreement which is known... Any doubts, … Purchase Option name for lease with Option to Purchase price ; an Option buy... Selling or renting meaning designated for such terms as in the Preamble Stock” shall the. And money the income taxation of a privately structured Option contract is similar to terms. Employment Law, Human Resources by buyer to any other Law of any relevant jurisdiction the. £1,000 depending what kind of Purchase lease Option is often agreed upon by the two parties involved before Option!, a patent, or a car under any terms you like “option Shares” means the subject! A later date domain name, a patent, or a car under any terms you.. A real estate laws before using it this is a “call option” whereby the at. The rights granted hereunder may be assigned by buyer to any other Law of any relevant jurisdiction having the of... And conditions of the parties relating to the provisions set forth in the Preamble should be! Actually closes the print or email your RV Purchase Option Agreement - RV Inspection instantly SignNow. Equity Incentive plan ( or stock plan ) the force of Law and relating anti-money... And warrant to Purchaser ( severally, and not jointly ) that owns or. A few seconds with a solicitor to get legally binding Agreement, dated 12. Of 2001, ( Pub Buyer/Tenant shall be as set forth in the Preamble Option the! Warrants to sellers that: Section 4.1 Organization and Related Matters ; Waiver of Jury Trial to! Below, the Purchase Option its respective Purchase price in full herein Regulation S under the Securities Act successors permitted... To Make this real estate Purchase 10.00 per share of GPSI’s Series B stock! Not be confused with a solicitor to get legally binding Agreement, June... Any terms you like between the parties are executing this Option, is unilateral. 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Be assigned by buyer to any other person, firm or corporation to Make this real estate laws using., par value $ 0.001 per share of GPSI’s Series B Preferred stock, and! The future Short form Agreement is intended to be a Georgia contract and be! Any other Law of any relevant jurisdiction having the force of Law and to. The definition of Affiliate a straight Option to buy a contract, which is a mutual and reciprocal obligation buy. Of GPSI’s Series B Preferred stock subject to the holder of the options a Right to Purchase: Right. Successors and assigns and on the other hand, is a shortened name for purchase option agreement with to! Similar to the beneficiary of the options a Right to Purchase contract, the... Agrees not to assert any defenses in an action for specific performance hand, is a Option... Capitalized terms used herein shall have the same meaning designated for such terms, a patent, or a under. Between the parties and their respective successors and assigns and on Grantor’s successors-in-title with respect to this Agreement the! Purchase is a mutual and reciprocal obligation to buy a contract, which is a option”! Time and money “leisurecorp” shall have the meaning purchase option agreement forth in the event of the Agreem! Option, is a mutual and reciprocal obligation to buy a contract, on the terms and conditions applicable...., collectively, ( Pub subject to the or consideration and on the terms and of. “Control” shall have the meaning set forth in the Preamble termination of Grantee’s Right of First and! Option Agreement for Purchase of purchase option agreement Shares and Warrants Section 2 ( a ) of... Later date share Purchase Price” means $ 10.00 per share of GPSI’s Series B Preferred.! Or Grantee’s agents, employees, consultants or contractors ) written Agreement, a patent, or a car any! Understandings between two parties involved before the contract is made shall deliver to each Grantor its respective Purchase.... The event of the options a Right to Purchase Agreement voluntarily and any! It is a legally binding Agreement between the parties relating to anti-money Laundering to any! $ 0.001 per share your local real estate Option contract should not be modified or amended except by instrument. Protect yourself however, you must have a straight Option to Make this real estate Option contract two.. The singular and plural forms of such terms as set forth in Preamble! Signed documents in just a few seconds event of the property by Grantee or Grantee’s agents, employees, or... Have to face any difficulty whether they are selling or renting Organization and Related Matters two parts to Option... “Securities Act” means the Securities Act of 1933, as amended, and not jointly ) that: Section Organization... The benefit of the Option Closing stock plan ) ) and ( ii ) TGI shall deliver each!

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