Event of Option Sample Clauses

Event of Option. (a) If an Event of Option shall occur as to any Investor, such Investor shall promptly notify the Corporation of such occurrence. In the event the Corporation shall receive any such notice or become aware of the occurrence of any Event of Option, the Corporation shall promptly notify each AEP Stockholder of the occurrence of any Event of Option. The Corporation and each AEP Stockholder shall have the right and option to give such Investor, or his or its representatives or assigns, as the case may be, notice of his or its election to have the Fair Value Per Share determined with respect to all of the Stock held by such Investor. The Corporation shall cause such determination of the Fair Value Per Share to be made as soon as is practicable and shall promptly notify each AEP Stockholder electing to have the Fair Value Per Share determined of such Fair Value Per Share (and the Corporation shall forward to each such AEP Stockholder supporting documentation showing the calculation of such Fair Value Per Share). Upon the determination of such Fair Value Per Share (i) first, the Corporation and (ii) second, each AEP Stockholder shall have the right and option to purchase from the Investor as to which such Event of Option has occurred, or his or its representatives or assigns, as the case may be, for cash, at the Fair Value Per Share, all Stock owned by the Investor as to which an Event of Option has occurred. Each AEP Stockholder shall have the right hereunder to purchase his or its Proportionate Percentage of the Stock held by the Investor as to which such Event of Option has occurred which Stock has not been accepted for purchase by the Corporation. The Corporation shall exercise its option hereunder by delivering a written notice to the Investor as to which an Event of Option has occurred during the 30-day period following the determination of the Fair Value Per Share evidencing its election to purchase Stock hereunder and indicating the number of shares of Stock it elects to purchase. A copy of such notice shall be delivered to each AEP Stockholder. If the Corporation elects not to purchase all Stock available for purchase hereunder, each AEP Stockholder may then exercise its right to purchase its Proportionate Percentage of any remaining Stock by delivering to the Corporation, within 30 days of its receipt of the Corporation's notice, a written notice of its election to purchase Stock hereunder (each such notice, a "Section 5 Notice"), whereupon the Corporati...
Sample 1
AutoNDA by SimpleDocs
Event of Option 
Sample 1Sample 2Sample 3See All (5)

Related to Event of Option

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

  • Acceleration of Option Notwithstanding any other provision of this Agreement to the contrary, the Option granted hereby shall become immediately exercisable upon the occurrence of a Change in Control (as hereinafter defined) of the Corporation if Optionee is an employee of the Corporation or any of its subsidiaries on the date of the consummation of such Change in Control. For purposes of this Section 4.2, a “Change in Control” means the occurrence of any of the following events:

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Termination Event; Notice The Purchase Contracts and all obligations and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the obligation of the Company to pay any Purchase Contract Payments (including any deferred or accrued and unpaid Purchase Contract Payments), if the Company shall have such obligation, and the rights and obligations of Holders to purchase Common Stock, shall immediately and automatically terminate, without the necessity of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, prior to or on the Purchase Contract Settlement Date, a Termination Event shall have occurred.

  • Termination Option Event The term “

  • Termination Upon Event of Default If Foothill terminates this Agreement upon the occurrence of an Event of Default, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of Foothill's lost profits as a result thereof, Borrower shall pay to Foothill upon the effective date of such termination, a premium in an amount equal to the Early Termination Premium. The Early Termination Premium shall be presumed to be the amount of damages sustained by Foothill as the result of the early termination and Borrower agrees that it is reasonable under the circumstances currently existing. The Early Termination Premium provided for in this Section 3.7 shall be deemed included in the Obligations.

  • Character of Option This Option is not to be treated as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

Time is Money Join Law Insider Premium to draft better contracts faster.