Condition to Exercise. As a condition of the Corporation's obligation to issue Stock upon exercise of this option, the Employee or other person entitled to exercise this option, if requested by the Corporation, shall concurrently with the exercise of this option execute an Agreement Not to Compete with the Corporation (in such form as adopted by the Corporation from time to time), which obligates the Employee to refrain from certain activities (if the person exercising the option has not already executed such an agreement).
Condition to Exercise. This Warrant shall not become exercisable unless the Net Sales of Qualified Products (both as defined herein) for the twelve (12) month period ended December 31, 1999 (the "Determination Date") equal or exceed Eleven Million Six Hundred Dollars ($11,600,000). Except as set forth below, "Net Sales" shall mean net sales of Qualified Products as determined by generally accepted accounting principles, as consistently applied by Ophthalmic Imaging Systems ("OIS"). "Qualified Products" shall mean products sold by and in connection with the current core business of OIS including: (i) products related to or arising out of such current core products; (ii) products under development as of the date hereof; and (iii) those same products if sold by any successor owner of OIS' operations. For the purposes of this Class D Warrant only, firm purchase orders or purchase agreements from purchasers seeking shipment of goods by December 31, 1999, and which are accompanied by at least a 10% deposit, shall be deemed to be December 1999 sales. As soon as practicable after the Determination Date, the Company shall determine the Net Sales of Qualified Products for the twelve (12) month period ended on the Determination Date and shall mail to the holder of the Warrant, and shall publish in a newspaper of national circulation a notice (the "Exercise Notice") stating whether this condition to exercisability has been met. The date of such mailing and publication is the "Notice Date."
Condition to Exercise. This Warrant shall not become exercisable unless the Net Sales of Qualified Products (both as defined herein) for the twelve (12) month period ended August 31, 1998 (the "Determination Date") equal or exceed Seven Million Dollars ($7,000,000). "Net Sales" shall mean net sales of Qualified Products as determined by generally accepted accounting principles, as consistently applied by Ophthalmic Imaging Systems ("OIS"). "Qualified Products" shall mean products sold by and in connection with the current core business of OIS including: (i) products related to or arising out of such current core products; (ii) products under development as of the date hereof; and (iii) those same products if sold by any successor owner of OIS' operations. As soon as practicable after the Determination Date, the Company shall determine the Net Sales of Qualified Products for the twelve (12) month period ended on the Determination Date and shall mail to the holder of the Warrant, and shall publish in a newspaper of national circulation a notice (the "Exercise Notice") stating whether this condition to exercisability has been met. The date of such mailing and publication is the "Notice Date."
Condition to Exercise. The effective termination of the Lease by Tenant shall be contingent upon there being no uncured Event of Default existing on the date on which Tenant delivers the Termination Notice or any time thereafter until and including the Termination Date. For purposes of this Section, an uncured Event of Default shall not be deemed to have occurred by Tenant if Tenant has commenced to cure such default within the time period required by the Lease and at all times thereafter has been and continues to diligently to effect such cure. At any time prior to Tenant's delivery of the Termination Notice, Tenant shall have the right to request Landlord to deliver to Tenant written notice of any Event of Default of which Landlord then has actual knowledge and Landlord shall respond to such request within ten (10) business days. If Landlord fails to respond within said ten (10) business day period, then no such Event of Default, if one exists, shall prevent the effectiveness of Tenant's election of the Termination Option. Should an uncured Event of Default exist at the time Tenant exercises the Termination Option, or should an Event of Default occur following Tenant's exercise of the Termination Option, such Event of Default shall not nullify or void Tenant's exercise of the Termination Option, but instead shall suspend the termination from becoming effective until such time as such Event of Default is cured.
Condition to Exercise. Tenant’s ROFR Right is subject to the condition that on the date that Tenant delivers its notice exercising its ROFR Right, no Event of Default exists (other than a Non-Material Event of Default).
Condition to Exercise. Exercise of the purchase rights represented by this Warrant is subject to the satisfaction in full of the Target Fees/Designation Condition.
Condition to Exercise. Notwithstanding any term or provision herein or in the Lease to the contrary, in no event shall Tenant be entitled to exercise its right to extend the Lease Term for an Extension Term pursuant to this Section 4 if Tenant is then in default under the terms of the Lease beyond any applicable grace or cure period (if any) afforded to Tenant under the terms of the Lease.
Condition to Exercise. Notwithstanding any term or provision herein or in the Lease to the contrary, in no event shall Tenant be entitled to exercise its right of first refusal pursuant to this Section 5 if Tenant is then in default under the terms of the Lease beyond any applicable grace or cure period (if any) afforded to Tenant under the terms of the Lease.
Condition to Exercise. Notwithstanding any term or provision herein or in the Lease to the contrary, in no event shall Tenant be entitled to exercise its Premises contraction right under this Section 6 if Tenant is then in default under the terms of the Lease beyond any applicable grace or cure period (if any) afforded to Tenant under the terms of the Lease. The undersigned, as Xxxxxx Building Landlord, hereby executes this Exhibit G for the sole purpose of agreeing to be bound by and to comply with the terms of Section 5 herein relative to the Xxxxxx Building, which contains the First Refusal Space. JJH BUILDING, LLC, a North Carolina limited liability company By: Four Bissells, LLC, its Manager By: /s/ Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx Title: VP Empty all waste baskets and trash containers X Replace soiled trash liners X Empty and damp wipe all ash trays X Dust all horizontal surfaces X Dust all vertical surfaces X Dust all high ledges, shelves, picture frames, etc. X Dust all baseboards and all low dusting not performed daily X Clean and sanitize all drinking fountains X Sweep or vacuum upholstered furniture X Dust all venetian blinds X Upon completion of cleaning, turn off lights and lock all doors, as instructed by manager X Dust mop or sweep X Spot mop and remove spillage X Damp mop or wet mop X Buff or spray buff X Machine clean X Vacuum traffic lanes X Remove all spots and stains when possible X Completely vacuum all carpet including edges X Pile lift carpeted areas X Machine clean X Polish mirrors and all metal surfaces X Clean and disinfect all toilets and urinals X Clean and polish all wash basins X Mop floors using disinfectant X Fill soap dispensers, towel and tissue holders X Clean partitions and ledges X Scrub bathroom floors X Turn off all lights X Report all stopped up commodes and leaks to building manager X Remove hand prints from door frames and light switches only X Clean air vents and diffusers X Dust light fixtures X Police for debris X Sweep or vacuum X Damp mop and dust hand rails X Vacuum or mop floors X Polish all metal surfaces X Vacuum elevator tracks X Polish elevator tracks X Spot clean entrance door glass X Spot clean partition glass X Clean partition glass X Clean windows inside X Clean windows outside X DA: DAILY WE: WEEKLY MO: MONTHLY T/Y: TIMES PER YEAR S/C: SEPARATE CONTRACT
Condition to Exercise. Before the Optionee may exercise the Option or any part thereof, the Company must first receive from the Optionee: (1) the Optionee's written acknowledgement that the Optionee has read, and has been afforded an opportunity to ask questions of management of the Company regarding, all financial and other information regarding the Company which the Optionee considers important in deciding whether to exercise the Option, (2) the Optionee's written representation that the Optionee is purchasing the Shares for the Optionee's own account and not on behalf of others, and (3) appropriate payment or other arrangements with respect to any withholding tax requirement arising from exercise of the Option.
