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OEED RECORDS
~ ~0«2;~~ ~h~LEin~~ . ve~142~ ~A~E~`72
PaeaQaph 14
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~ Pnrchase Price of Leased Pamela previonaly pnrchased pnrsuant to
• clanse (a) of this Parag?raph 14(a), and (B) the aggregate fair market
value (at the time of the respective conveyancea thereof pursnant to
~ elause (y) of this Paragraph 14(a)) of all properties theretofore con-
veyed to Properties pnrauant to the aforesaid clanse (y) ezceeds the
product of $250,000 timea the number of anniversaries of the date of the
firat Closing held pnrsuant to the Note Pnrchase Agreements which
ahall theretofore have oocnrred, then, in snch event, the Company shall
promptly :
(z) ezerciso, pnrsnant to Paragraph 19, its option to pnrahase
Leased Parcela referred to in clauaes (i), (ii) and (iii) of thia Para- -
graph 14(a) having an aggregate Initial pnrchsae prioe at least
eqnal to such eacess, provided. that prepayment pnrsnant to Section
704 of the Indentnre of 11~~otes having an agnregate principal annonnt
equal to the pnrchase price pnrsuant to Para~;mph 19 of anv sucL
I.eased Parcels concurrently with or in lieu of sneb eaercise shall,
; to the eatent of such prepayment, be deemed to satisfy this sub-
~ - paragraph (z) unci such Leased Parcels shall be deemed tu lia~e
~ been "purelinsed" for the purposes of this Paragraph 14, or
` (y) convey to Propertics other properties of a nnture similar
~ to the Leased Parcel, described in ~lppendia :1 And located in n
~ jurisdiction in the LTnited States in which Properties is duly qual-
; ified to do business (herein called "substituted properties") httving ~
~ an aggregate fair market value, as evidenced by a certificate of t~ ~
responsible og'icer of the Company, at least eqnal to such eacess, or
' ~z) pnrchase Bn~cient Leased Parcela pursnant to clanae (z) ~
~ of this Paragraph 14(a) and convey su~cient propertiea pnrsaant ~
~ to clause (y) of this Paragraph 14(a) so that the aggregate Initial ~
F Pnrchase Price of Leased Parcels pnrehaaed plue the aggregate
~ fair market valne of propertiea conveyed is at least equal to snch
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~ ezceas.
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k (b) Optio~eal Substitution. The Company shall have the right,
~ upon giving written notice to Properties, to remove one or more of the
~ Leased Parcela from thia Lease npon the snbstitntion therefor of one
~ or more improved substituted Properties which have an aggregate fair
~ market value at least equal to the aggregate fair market value o: the {
~ Leased Parcels so removed, such fair market value to be evidenced i
' in each case by a certificate of a responaible o~cer of the Compans. ~
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