Common use of Assignment of the Option Clause in Contracts

Assignment of the Option. PMS may elect to assign either the Assets Option or the Stock Option or both to any person, by a written assignment, signed by both PMS and the assignee, which designates the Assets and/or Stock. The assignee shall agree as a condition of the assignment to be bound by the terms of this Agreement. Thereafter, only the assignee named in the assignment shall have the right to exercise the applicable Assets Option and/or the Stock Option as to the designated Assets and/or Stock, and that assignee, rather than PMS, shall enter into a purchase agreement upon exercise of the Assets Option and/or the Stock Option, as applicable. Written notice of any such assignment shall be given by PMS to PMG and Shareholder within a reasonable time period following execution of any assignment pursuant to this Agreement. When the context so requires in this Agreement, the term “PMS” shall be deemed to refer to an assignee holding an assignment of an Asset Option or Stock Option, and the terms “party” and “parties” shall be deemed to include that assignee.

Assignment of the Option. PMS Buyer may elect to assign either the Assets Option or the Stock Option or both to any person, by a written assignment, signed by both PMS Buyer and the assignee, which designates the Assets and/or Stock. The assignee shall agree as a condition of the assignment to be bound by the terms of this Agreement. Thereafter, only the assignee named in the assignment shall have the right to exercise the applicable Assets Option and/or the Stock Option as to the designated Assets and/or Stock, and that assignee, rather than PMSBuyer, shall enter into a purchase agreement upon exercise of the Assets Option and/or the Stock Option, as applicable. Written notice of any such assignment shall be given by PMS Buyer to PMG Seller and Shareholder within a reasonable time period following execution of any assignment pursuant to this Agreement. When the context so requires in this Agreement, the term “PMS” "Buyer" shall be deemed to refer to an assignee holding an assignment of an Asset Option or Stock Option, and the terms “"party” " and “"parties” " shall be deemed to include that assignee.

Assignment of the Option. PMS may elect to assign either the Assets Option or the Stock Option or both to any person, by a written assignment, signed by both PMS and the assignee, which designates the Assets and/or Stock. The assignee shall agree as a condition of the assignment to be bound by the terms of this Agreement. Thereafter, only the assignee named in the assignment shall have the right to exercise the applicable Assets Option and/or the Stock Option as to the designated Assets and/or Stock, and that assignee, rather than PMS, shall enter into a purchase agreement upon exercise of the Assets Option and/or the Stock Option, as applicable. Written notice of any such assignment shall be given by PMS to PMG and Shareholder within a reasonable time period following execution of any assignment pursuant to this Agreement. When the context so requires in this Agreement, the term “"PMS” " shall be deemed to refer to an assignee holding an assignment of an Asset Option or Stock Option, and the terms “"party” " and “"parties” " shall be deemed to include that assignee.

Assignment of the Option. PMS Buyer may elect to assign either the Assets Option or the Stock Option or both to any person, by a written assignment, signed by both PMS Buyer and the assignee, which designates the Assets and/or Stock. The assignee shall agree as a condition of the assignment to be bound by the terms of this Agreement. Thereafter, only the assignee named in the assignment shall have the right to exercise the applicable Assets Option and/or the Stock Option as to the designated Assets and/or Stock, and that assignee, rather than PMSBuyer, shall enter into a purchase agreement upon exercise of the Assets Option and/or the Stock Option, as applicable. Written notice of any such assignment shall be given by PMS Buyer to PMG Seller and Shareholder within a reasonable time period following execution of any assignment pursuant to this Agreement. When the context so requires in this Agreement, the term “PMSBuyer” shall be deemed to refer to an assignee holding an assignment of an Asset Option or Stock Option, and the terms “party” and “parties” shall be deemed to include that assignee.