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005 In any such event, Lessor shall have the right at its election, then or at any time thereafter while such event of default shall continue, to give Lessee written notice of intention to terminate this Lease on the date of such notice (which date shall not be earlier than fifteen ( 15 ) days after receipt of such notice by Lessee) or on any later date specified therein, and on the date specified in such notice Lessee's right to possession of the premises shall cease and this Lease shall thereupon be terminated." Section 114. That Sections 1902, 1903, 1904 and 1905 of the original Lease are hereby deleted. Section 115. That Section. 2303 of the original Lease is hereby amended to read as follows: "Section 2303. At any time on and after February 1, 1976, and at any time during any renewal term, Lessee shall have the unconditional right and option to purchase the Premises or any portion thereof." Section 116. That Section 2305 of the original Lease is hereby amended to read as follows: "Section 2305. Lessee's option to purchase under Section 2302 or 2303 may be exercised by giving written notice to Lessor of the exercise thereof, specifying the time and place of closing, which shall neither be earlier than ten (10) days nor later than fifteen (15) days after the notice is given. At such closing Lessor shall, upon receipt of the purchase price determined as set forth in Section 2304, deliver to Lessee a general warranty deed transferring and conveying to Lessee good and merchantable title to the real estate then constituting a part of the Premises and a bill of sale transferring good and merchantable title to Lessor's machinery and equipment then constituting a part of the Premises, in each case free and clear of all liens and encumbrances, except such liens as may exist by reason of Lessee's failure to perform any of its obligations under this Lease and except, in the case of the real estate, easements existing at the date of this Lease and such as may have been granted by Lessor pursuant to Section 2102; provided, however, that if such closing shall be prior to the redemption of the Bonds, such purchase price shall be paid to the Trustee with instructions to apply said proceeds to the redemption of such Bonds at the earliest possible time, in which event such Bonds and the Trust Indenture may continue to be a lien on the Premises until redemption; and provided further, that if such option is exercised