EXERCISING OPTION Sample Clauses

EXERCISING OPTION. The Tenant shall hold the right to exercise an option to purchase the Premises under Sections 2 & 3 of this Addendum by sending a notice (via Certified Letter with return receipt) to the Landlord’s address for notices listed in the Agreement.

EXERCISING OPTION. The Tenant will retain the right to exercise an option to purchase the Premises under the previous two sections of this Addendum by sending notice to the Landlord, via Certified Letter with return receipt, by sending to the Landlord’s address for notices listed in the Agreement. When exercising the option to purchase, the Tenant shall be required to: (check one) ☐ - Pay a Deposit. The Tenant must pay a deposit of $________________ (“Deposit”) that shall be credited towards the Purchase Price.

EXERCISING OPTION. The non-defaulting party may exercise the Option by giving the defaulting party written notice of its intent to exercise the Option within thirty (30) days of the date that the Joint Venture Value is determined by the investment bankers.

EXERCISING OPTION. In order to exercise this Option with respect to all or any part of the Optioned Stock for which this Option is at the time exercisable, Optionee (or in the case of exercise after Optionee’s death, Optionee’s executor, administrator, heir or legatee, as the case may be) must take the following actions and otherwise comply with the requirements of the Plan: (a) Deliver to the Corporate Secretary of the Company an executed notice of exercise in substantially the form of Exhibit B to this Agreement (the “Exercise Notice”) in which there is specified the number of shares of Optioned Stock that are to be purchased under the exercised Option. (b) Pay the aggregate Exercise Price for the purchased shares in cash or by check made payable to the Company’s order.

EXERCISING OPTION. In order to exercise this Option with respect to all or any part of the Optioned Stock for which this Option is at the time exercisable, Optionee (or in the case of exercise after Optionee’s death, Optionee’s executor, administrator, heir or legatee, as the case may be) must take the following actions and otherwise comply with the requirements of the Plan: (a) Deliver to the Corporate Secretary of the Company an executed notice of exercise in substantially the form of Appendix I to this Agreement (the “Exercise Notice”) in which there is specified the number of shares of Optioned Stock that are to be purchased under the exercised Option. (b) Pay the aggregate Exercise Price for the purchased shares through one or more of the following alternatives, subject to any limitations or restrictions set forth in the Plan: (1) full payment in cash or by check made payable to the Company’s order; (2) by means of a “cashless exercise” in which the Optionee shall be entitled to receive a certificate for the number of shares (subject to any tax withholding or adjustment) equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: (A) = the Fair Market Value per share on the trading day immediately preceding the date of exercise; (B) = the purchase price per share under the Option Agreement; and (X) = the number of shares with respect to which the Option is exercised as stated in the notice of exercise.

EXERCISING OPTION. Option shall be exercised no sooner than the _____ day of , delivery of a _______(___) day written notice to exercise, fully executed by Optionee/Buyer, and delivered to Optionor/Seller within the prescribed exercise period. In the event of the exercise of option, it is understood and agreed that if any Monthly Option Payment is received by owner during the term of this option, said Monthly Option Payment shall not be applied against the purchase price. Only the credit referred to in paragraph 4 above shall be applied to reduce the balance due Optionor/Seller upon exercise of the Option to Purchase.

EXERCISING OPTION. To exercise the Extension Option, the Tenant shall notify the Landlord of such exercise (the "Extension Notice") no later than ONE HUNDRED TWENTY (120) days before the expiration of the Initial Term.

EXERCISING OPTION. In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable, Optionee (or in the case of exercise after Optionee’s death, Optionee’s executor, administrator, heir or legatee, as the case may be) must take the following actions and otherwise comply with the requirements of the Company: (a) Deliver to the Corporate Secretary of the Company an executed notice of exercise in substantially the form of Exhibit I to this Agreement (the “Exercise Notice”) in which there is specified the number of Option Shares which are to be purchased under the exercised option. (b) Pay the aggregate Exercise Price for the purchased shares through one or more of the following alternatives, subject to any limitations or restrictions specified by the Company: (i) full payment in cash or by check made payable to the Company’s order; (ii) full payment in shares of Stock held for the requisite period necessary to avoid a charge to the Company’s earnings for financial reporting purposes and valued at fair market value on the Exercise Date; (iii) full payment through a combination of shares of Stock held for the requisite period necessary to avoid a charge to the Company’s earnings for financial reporting purposes and valued at fair market value on the Exercise Date and cash or check payable to the Company’s order; or (iv) full payment effected through a broker-dealer sale and remittance procedure pursuant to which Optionee shall provide concurrent irrevocable written instructions (i) to a brokerage firm acceptable to the Company to effect the immediate sale of the purchased shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased Option Shares plus all applicable Federal, state and local income and employment taxes required to be withheld in connection with such purchase and (ii) to the Company to deliver the certificates for the purchased Option Shares directly to such brokerage firm in order to complete the sale transaction.

EXERCISING OPTION. The City agreed to offer the YMCA two successive ten year options to renew, contingent upon the YMCA remaining in full compliance with the terms and conditions of the agreement. To execute an option for renewal, the YMCA must give notice 60 to 180 days prior to the expiration of the term, December 31, 2020.