Amendments to the Option Agreement. Section 3 of the Option Agreement is hereby amended by deleting Section 3(c) thereof in its entirety.
Amendments to the Option Agreement. 2.1 The parties hereby irrevocably agree the following amendments, additions, modifications and variations shall be made to the Option Agreement with effect from the date of this Deed:-
2.1.1 There shall be added to clause 1.1 of the Option Agreement the following definitions:
Amendments to the Option Agreement. 2.1 The date “July 1, 2005” in Section 3.2(b) of the Option Agreement is hereby deleted and the date “September 1, 2005” is inserted therefor.
Amendments to the Option Agreement. (a) Section 1.80 of the Option Agreement shall be deleted in its entirety and replaced with the following:
Amendments to the Option Agreement. In consideration of the agreed in Section 1 above, the parties hereto amend the Option Agreement with effects as of this date, as follows:
3.1 Each New Members of the Freire Group shall be considered a Grantor (Otorgante), Owner (Propietario) or member of the Freire Group under the Option Agreement, as defined therein. Therefore, as of this date the Grantors (Otorgantes) and the Owners (Propietarios) members of the Freire Group are the following entities: (i) Freire One, (ii) Freire Two, (iii) SH Six, (iv) Cabildo, (v) New Delta, (vi) Nueva Two Delta, (vii) El Olivillo and (viii) Alerce.
Amendments to the Option Agreement. In consideration of what was agreed in the first clause above, the Option Agreement is amended as of this date, in the following sense: Chucao shall be considered a Grantor (Otorgante), Owner (Propietario) or member of the Freire Group under the Option Agreement, as defined therein or in any of its amendments. Consequently, as of this date, the Grantors (Otorgantes) and the Owners (Propietarios) members of the Freire Group are the following entities: (i) Freire One, (ii) Freire Two, (iii) SH Six, (iv) Cabildo, (v) New Delta, (vi) New Delta Two, and (vii) Chucao.
Amendments to the Option Agreement. The Option Agreement is amended as follows:
(a) Sections 2.1(a) and (b) of the Option Agreement are deleted in their entirety and replaced with the following: “(a) on or prior to December 29, 2023, an aggregate of $700,000 in exchange for the issuance by GNQ of 59,322 Shares;
(b) within sixty (60) Business Days, an aggregate of $1,800,000 and 7,500,000 Trenchant Shares in exchange for the issuance by GNQ of such number of Shares as is equal to 14.4% of the total issued and outstanding Shares on a fully-diluted basis, as at the date of the completion of the issuance of the shares;”
Amendments to the Option Agreement. The Option Agreement is amended as follows:
(a) The introductory paragraph of Section 2.1 of the Option Agreement is deleted in its entirety and replaced with the following: “GNQ hereby grants to Trenchant the sole, exclusive and irrevocable right during the period commencing on the date hereof and ending on the earlier of November 30, 2026 or the date of a Liquidity Event involving GNQ (the “Option Period”), to purchase up to 50% of the Shares in exchange for: (i) aggregate cash consideration of $16,850,000; (ii) the issuance of an aggregate of 7,500,000 Trenchant Shares and (iii) the issuance of 2,600,000 Units (as defined below) (the “Option”), which Option is exercisable in five parts as follows:”
(b) Section 2.1(c) of the Option Agreement is deleted in its entirety and replaced with the following: “(c) on or prior to April 29, 2024:
(i) an aggregate of $650,000;
(ii) 7,500,000 Trenchant Shares; and
(iii) subject to Trenchant obtaining approval from the Canadian Securities Exchange, 2,600,000 units (each, a “Unit”), at a deemed issue price of $0.25 per Unit, with each Unit comprised of one Trenchant Share and one warrant (each, a “Warrant”) to purchase one Trenchant Share (each, a “Warrant Share”) at an exercise price of $0.50 per Warrant Share for a period of two years following the issuance of the Warrant, in exchange for the issuance by GNQ of such number of Shares which would result in Trenchant owning an aggregate of 20% of the total issued and outstanding Shares on a fully-diluted basis, when combined with the Shares previously held by Xxxxxxxxx, as at the date of the completion of the issuance of the Shares;”.
Amendments to the Option Agreement. The Option Agreement is hereby amended, effective as of the date of this Amendment, as follows:
A. Amendment to Exhibit 2,10: Exhibit 2.10 of the Option Agreement is amended by deleting the first sentence thereof “The Purchase Price for the Facility Assets shall be an amount equal to the Fair Market Value; provided that the Purchase Price shall not be less than the “Minimum Purchase Price” or greater than the “Maximum Purchase Price” corresponding to the applicable Purchase Option opportunity for which Buyer has exercised its Purchase Option” and replacing it with the following: “The Purchase Price for the Facility Assets shall be an amount equal to the Fair Market Value, subject to the additional provisions of this paragraph. The Fair Market Value shall be determined in accordance with Section 2.10 and Exhibit 2.10 of the Option Agreement and shall constitute the Purchase Price without regard to the Minimum Purchase Price or Maximum Purchase Price set forth in Exhibit 2.10.” The Parties further agree that (1) the provisions and values associated with the Minimum Purchase Price and Maximum Purchase Price in Exhibit 2.10 shall not be determinative of the Fair Market Value, and (2) if the Fair Market Value associated with a Purchase Option Opportunity is less than the Minimum Purchase Price Buyer may still-proceed with the purchase of the Facility Assets for the Fair Market Value, and (3) if the Buyer does not wish to pay the Fair Market Value associated with a Purchase Option Opportunity because it exceeds the Maximum Purchase Price, as set forth in Exhibit 2.10, and as a consequence Buyer does not wish to proceed with the purchase of the Facility Assets, the Buyer may, upon written notice to Seller and without liability, revoke its decision to exercise the Purchase Option with respect to the applicable Purchase Option Opportunity, and such Purchase Option Opportunity shall expire and shall no longer be effective; provided, further, such expiration shall not affect Buyer's right to exercise any Purchase Option with respect to any future Purchase Option Opportunity.
Amendments to the Option Agreement. The Non-Qualified Stock Option Agreement dated as of December 8, 1997, between the Executive and the Corporation (the "December Option Agreement") is hereby amended in the following respects:
(i) Section 2 of the December Option Agreement is hereby amended to provide that the Option shall be exercisable for 100% of the Common Shares which are subject to the Option as of the date hereof.
(ii) Section 3 of the December Option Agreement is hereby amended to add a new subsection (c) to read as follows: "The Option shall be exercisable by you until June 30, 1999."
