Lapse of Options. Unless otherwise determined by the Committee in its sole discretion, the Option shall lapse at (and shall not be exercisable after) the time specified below:
Lapse of Options. Unless otherwise determined by the Committee, in respect of every vesting period, where the Committee determines, in its absolute discretion, that the performance condition and/or any other condition applicable to an Option (including the Participant’s active Employment until the completion of that vesting period) has not been satisfied (whether fully or partially), such Option shall lapse and be of no value. For the purposes of this Section 4.12, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its effective date.
Lapse of Options. All unexercised options under this Section 5.09 shall be deemed to lapse at the end of the applicable option periods.
Lapse of Options. Lessee acknowledges and agrees that (1) all of Lessee's rights (a) to extend the Term pursuant to Lease Rider No. 1 and (b) to lease additional space pursuant to Lease Rider No. 3 have terminated; (2) Lessee has no right to extend the term of the Lease; and (3) Lessor has no obligation to lease additional space to Lessee.
Lapse of Options. If the option specified in Section 8.6(c) ---------------- hereof shall expire without exercise thereof, the Transferring Party shall be entitled to make the proposed sale of its XXX.xxx common stock to the Third Party for the consideration and in accordance with any other material terms or conditions described in the Transfer Notice, provided that the Third Party agrees, in form and substance reasonably satisfactory to the Other Party, to be bound by the provisions of this Agreement to the same extent as if such Third Party were originally a party hereto. If the sale of the Transferring Party's XXX.xxx common stock is not completed within 90 days of the date of the expiration of the option set forth in Section 8.6(c) above, then such XXX.xxx common stock shall again become subject to the options of this Section 8.6.
Lapse of Options. If none of the options provided for in this Section 4 have been timely exercised, then such options shall expire, but all of the provisions of this Agreement shall apply to any future Disposition or Proposed Disposition of Stock owned or held by the Selling Shareholder.
Lapse of Options. 2.8 An Option shall lapse and cease to be exercisable on the first to the occur of the following events:
Lapse of Options. The Stock Option shall lapse and become unexercisable in part or in full on the earliest of the following events:
Lapse of Options. (1) Notwithstanding any other Rule of this Scheme, an Option shall lapse upon the occurrence of the earliest of the following events:-
Lapse of Options. If the other SMM Stockholders do not elect to purchase all of the Option Securities pursuant to the provisions of paragraph (b) of this Section 2, the Selling Stockholder shall then have the right either to (i) elect to sell to the other Stockholders, whatever number of the Option Securities the other Stockholders have elected to purchase pursuant to paragraph (b) of this Section 2, or (ii) withdraw all offers under this Section 2 and either retain the Option Securities or, within 90 days from the effective date of the Offering Notice delivered by the Selling Stockholder pursuant to paragraph (a) of this Section 2, sell all of the Option Securities to the proposed purchaser at the Option Price; provided, however, that (i) no sale of all or a part of the Option Securities shall be made at any price lower than the Option Price or on terms different from those specified in the Offering Notice or to any person or persons other than the person or persons specified in the Offering Notices, and (ii) the person or persons to whom the Option Securities are to be transferred enters into an Addendum Agreement in substantially the form of Appendix A hereto pursuant to which such person or persons agrees to be bound by all the terms and provisions of this Agreement. If after the lapse of the 90-day period the Option Securities shall not have been sold, all the provisions of this Agreement, including the provisions of this Section 2 shall apply to any future Disposition of Securities owned by the Selling Stockholder.
