Exclusive Option to Purchase Sample Clauses

Exclusive Option to Purchase. At any time during the term of this Lease, or any renewal, Tenant shall have the exclusive option to purchase the Leased Premises on the terms and conditions set forth herein. Tenant may exercise this option by giving Landlord written notice of its election to do so in accordance with the notice requirements set forth in Section 23. In such event, the purchase price for the Leased Premises shall be $550,000, less any rental payment made in the first eighteen (18) months of the original lease term. Within 15 days after receipt of Tenant's notice exercising this option, Landlord shall cause Lawyers Title Insurance Corporation (or other title insurance company approved by Tenant) to furnish a commitment for title insurance reflecting the status of title to the Leased Premises. If Tenant objects to any of the matters affecting title to the Leased Premises, Tenant shall notify Landlord in writing within 15 days after Tenant's receipt of the title insurance commitment, and Landlord shall attempt to cure such objections. If Landlord is unable to cure any such objections within 15 days after receipt of Tenant's objections, Tenant may terminate its election to purchase the Leased Premises (in which event, Tenant may then exercise its right to renew this Lease pursuant to Section 2.2) or Tenant may waive such uncured objections and proceed to purchase the Leased Premises. Unless Landlord and Tenant otherwise agree, the closing of the sale of the Leased Premises shall occur at the title company within 30 days after the termination of this Lease. At the closing: (i) Tenant shall pay the full purchase price in cash or by certified or cashier's check, and (ii) Landlord shall execute and deliver a general warranty deed conveying title to the Leased Premises to Tenant free and clear of any liens created or caused by Landlord and shall cause the title company to deliver to Tenant, at Landlord's sole cost and expense, a title insurance policy issued by Lawyers Title Insurance Corporation (or another title insurance company approved by Tenant) insuring title to such property for the amount of the purchase price, subject only to the matters reflected on the title insurance commitment which remain in effect after the title curative process described above. Tenant shall pay rent at the rate then in effect with respect to the Leased Premises through the closing date. Each party shall be responsible for the normal and customary closing costs paid by a buyer and seller at a closin...
Sample 1
Exclusive Option to Purchase. The Developer hereby grants the Commission the exclusive Option to purchase the Property, subject to the terms and conditions set forth herein. The Option must be exercised by Commission, if at all, no later than one year after the trigger events set forth in the Development Agreement (the “Option Period”), which shall occur if: a. The conditions set forth in Section 3.2 of the Development Agreement that must be satisfied or waived in writing prior to execution of the Notice of Commence cannot be fulfilled and the Developer elects to terminate the Development Agreement as a result, or b. Developer fails to (1) complete Phase 1 or Phase 2 of the Project by the Mandatory Completion Dates set forth in Section 4.6 of the Development Agreement, or (2) expend the full amount of Private Investment as defined in Section 1.4 of the Development Agreement for the Project by the end of the Mandatory Completion Dates. As a consideration for this Option, the parties acknowledge that the Commission will pay the Funding Amount and construct the Local Public Improvements as set forth in the Development Agreement (the “Option Payment”).
Sample 1
Exclusive Option to Purchase. The Commission hereby grants the Company an exclusive option to purchase the Property, subject to the terms and conditions stated in this Option Agreement (the "Option").
Sample 1
Exclusive Option to Purchase. The Developer hereby grants the Commission the exclusive option to purchase the Real Estate, subject to the terms and conditions set forth herein (the "Option"). The Option must be exercised by Commission, if at all, no later than the expiration of the Option Period, which is herein defined as two (2) years from the date hereof (the "Option Period")). As consideration for this Option, the parties acknowledge that the Commission will pay the Funding Amount (the "Option Payment").
Sample 1
Exclusive Option to Purchase. For a period of one (1) year following the Commencement Date (Option Period) hereunder Tenant shall have the Exclusive Option to purchase the Leased Space being the building and land more particularly described in Exhibit A hereto, as well as the Leased Property referred to herein for the sum of Three Million Dollars 00/100 ($3,000,000.00) certified funds at closing. Tenant may exercise this Option by giving written notice to Landlord of its intent to exercise the Option within the Option Period. Settlement shall be held no later than sixty (60) days following written notice of Tenant/Option Holder's intent to exercise its option to purchase. Landlord shall deliver before the settlement such Deeds and such other good and sufficient instruments of conveyance and transfer, in form and substance reasonably satisfactory to counsel for Tenant, as shall be effective to vest in Tenant all of the Landlord's right, title and interest to the Leased Space and property. Title to the real estate shall be such as will be insurable by a reputable title insurance company in the Commonwealth of Pennsylvania at regular rates. If required, Landlord shall comply with any and all bulk sales laws, statutes and/or ordinances in the Commonwealth of Pennsylvania and shall execute any and all documents and perform all acts required before and after Settlement on the Tenants Exclusive Option to Purchase. Landlord shall not market or offer, directly or indirectly the Leased Space and Property for sale to any other third parties during the Option Period.
Sample 1
Exclusive Option to Purchase 
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Related to Exclusive Option to Purchase

  • Option to Purchase Subject to Section 3.5, the Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to purchase any or all owned Bank Premises, including all Furniture, Fixtures and Equipment located on the Bank Premises. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date. If the Assuming Institution gives notice of its election not to purchase one or more of the owned Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for such Bank Premises and associated Fixtures, Furniture and Equipment.

  • Election to Purchase (To Be Executed Upon Exercise of Warrant)

  • Option; Option Price On the terms and subject to the conditions of the Plan and this Agreement, including, without limitation, Section 18 of this Agreement, the Optionee shall have the option (the “Option”) to purchase Shares at the price per Share (the “Option Price”) and in the amounts set forth on the signature page hereto. Payment of the Option Price may be made in the manner specified by Section 5.9 of the Plan. The Option is not intended to qualify for federal income tax purposes as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Except as otherwise provided in Section 7 of this Agreement, the Option shall remain exercisable as to all Vested Options (as defined in Section 4) until the expiration of the Option Term (as defined in Section 3). Except as otherwise provided in the Plan or this Agreement, upon a Termination of Relationship, the unvested portion of the Option (i.e., that portion which does not constitute Vested Options) shall terminate.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • NOTICE OF STOCK OPTION GRANT Participant Name: Address:

  • Stock Option Grants EMPLOYEE shall receive options to purchase Class A common stock of XM Satellite Radio Holdings Inc. (“XM Stock”) on the following terms. (a) On the Effective Date of the Amendment, XM will grant EMPLOYEE an option to purchase Three Hundred Fifty Thousand (350,000) shares of XM Stock. Additional stock options shall be awarded at the discretion of the Compensation Committee and the Board of Directors. (b) The options granted pursuant to Article 3.7(a) hereof will be non-qualified. The exercise price for such options shall be, with respect to each grant, the closing price of XM Stock on the date of grant. (c) Subject to the provisions of Article 4 hereof, the options granted pursuant to Article 3.7(a) hereof will vest and become exercisable on the following schedule: with respect to each grant, one third of the shares covered by the option shall become exercisable on the first anniversary of the grant, one third of the shares covered by the option shall become exercisable on the second anniversary of the grant, and one third of the shares covered by the option shall become exercisable on the third anniversary of the grant. In addition to the annual vesting requirement, the initial options granted upon the amendment of the contract shall also require that EMPLOYEE will not sell, pledge or otherwise dispose of shares issued upon the exercise of such initial options until the first to occur of the following: (i) the average closing price of XM Stock on the Nasdaq National Market system, or principal stock exchange on which shares of XM Stock are then listed, over any 20 consecutive trading days following the date of grant equals or exceeds $10, or (ii) seven years have elapsed since the date of grant. In the event that EMPLOYEE holds non-vested options at the time his employment by XM terminates, such non-vested options shall vest or shall be forfeited, as the case may be, in accordance with the provisions of Article 4 hereof. (d) Vested options may be exercised within ten (10) years of the date on which they were granted. In the event that EMPLOYEE holds unexercised vested options at the time his employment by XM terminates, such vested options may be exercised within the time periods set forth in Article 4 hereof. (e) XM agrees that the XM Stock to be issued to EMPLOYEE upon his exercise of the options granted pursuant to Article 3.7(a) hereof will be registered for sale to the public on XM’s Form S-8 Registration Statement.

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Decision to Purchase The Assignee represents and warrants that it is a sophisticated investor able to evaluate the risks and merits of the transactions contemplated hereby, and that it has not relied in connection therewith upon any statements or representations of the Assignor or the Servicer other than those contained in the Servicing Agreement or this Assignment Agreement.

  • Stock Option Subject to approval by the Board, the Company will grant Executive, during the fourth calendar quarter of 2015 (and subject to Executive’s continued employment with the Company through the grant date), under the Company’s 2015 Equity Incentive Plan (the “Plan”), an incentive stock option to purchase 130,444 shares of Company common stock (an “Option”), with an exercise price equal to $1.12 per share, which is equal to the fair market value of the shares of Company common stock underlying the Option on the grant date. Subject to Executive’s continued employment with the Company through the applicable vesting date, the Option will vest and become exercisable with respect to one-forty-eighth (1/48th) of the shares subject thereto on each monthly anniversary of January 1, 2016. Notwithstanding the foregoing, if the Company experiences a Change in Control (as defined in the Plan) prior to the full vesting (or forfeiture) of the Option and Executive’s employment is terminated by the Company without Cause (as defined below) within three (3) months prior to the consummation of such Change in Control, then, subject to Section 6(b) below, one hundred percent (100%) of any then-unvested portion of the Option will vest and become exercisable immediately prior to such Change in Control. In addition, (i) if the Company experiences a Change in Control (as defined in the Plan) prior to the full vesting (or forfeiture) of the Option and Executive remains employed by the Company through at least immediately prior to such Change in Control, fifty percent (50%) of any then-unvested portion of the Option shall vest immediately prior to such Change in Control, and (ii) if the Company experiences a Change in Control (as defined in the Plan) prior to the full vesting (or forfeiture) of the Option and Executive’s employment is terminated by the Company without Cause within two (2) years following the consummation of such Change in Control, subject to and conditioned upon Executive’s timely execution and non-revocation of a Release (as defined below), one hundred percent (100%) of any then-unvested portion of the Option will vest in full and become exercisable upon the effectiveness of the Release. Each Option will be subject in all respects to the terms and conditions set forth in the Plan and in an award agreement to be entered into between the Company and Executive, which will evidence the grant of the Option (each, an “Option Agreement”).

  • Right to Purchase Section 11.23