Common use of Exercise of First Option Clause in Contracts

Exercise of First Option. The Venture may exercise the First Option by delivering to the Optionor Partner written notice (the “Election Notice”) of its election to exercise all or part of the First Option within thirty (30) days after the date that the Venture receives the First Option Notice. The Election Notice shall set forth the amount of the Offered Interests that the Venture agrees to purchase.

Exercise of First Option. The Venture may exercise the First Option by delivering to the Optionor Partner Venturer written notice (the “"Election Notice”") of its election to exercise all or part of the First Option within thirty (30) 30 days after the date that the Venture receives the First Option Notice. The Election Notice shall set forth the amount of the Offered Interests that the Venture agrees to purchase.

Exercise of First Option. The Venture may exercise the First ------------------------ Option by delivering to the Optionor Partner Venturer written notice (the “"Election Notice”") of its election to exercise all or part of the First Option within thirty (30) 30 days after the date that the Venture receives the First Option Notice. The Election Notice ; provided that if the Optionor Venturer is Paddlewheels or any Affiliate thereof the Venture shall set forth the amount exercise such First Option within 20 days of the Offered Interests that date the Venture agrees to purchasereceives the First Option Notice.

Exercise of First Option. The Venture may exercise the First ------------------------ Option by delivering to the Optionor Partner Venturer written notice (the “"Election -------- Notice”") of its election to exercise all or part of the First Option within thirty (30) ------ 30 days after the date that the Venture receives the First Option Notice. The Election Notice ; provided that if the Optionor Venturer is Paddlewheels or any Affiliate thereof the Venture shall set forth the amount exercise such First Option within 20 days of the Offered Interests that date the Venture agrees to purchasereceives the First Option Notice.