Expiry of Option. Subject to the terms of the Plan (including but not limited to section 8.1(e)(iv) of the Plan) and the provisions of this Agreement below, the Option will expire upon the earliest to occur of the following:
(1) the Expiry Date;
(2) the date which is 90 days after the Optionee ceases to be an "Eligible Person" due to termination by the Company without cause or due to voluntary termination by the Optionee (other than Retirement);
(3) the date which is 30 days after the Optionee ceases to be an "Eligible Person" due to termination by the Company with cause;
(4) the date which is 3rd anniversary of the date the Optionee ceases to be an "Eligible Person" due to Retirement, provided that if the Optionee takes on any substitute paid employment or engagement before the date which is the 3rd anniversary of the date when the Optionee ceased to be an "Eligible Person", then the Option will expire on the date when such Optionee takes on such substitute paid employment or engagement (if there is any question on whether certain work amounts to substitute paid employment or engagement, the determination by the Chief Executive Officer (or in his absence, the Chief Human Resources Officer) shall be conclusive and binding on the Optionee); and
(5) in the event of the death of the Optionee (including death occurring during the time period specified in subsections 2.2(2) and 2.2(4) above), the date which is 365 days after the date of death of the Optionee. For greater certainty for the purpose of this Agreement and the Plan, the date on which the employment of an Optionee is terminated without cause shall be deemed to be the date on which any notice of termination of employment provided to such Optionee is stated to be effective (or in the case of an alleged constructive dismissal, the date on which the alleged constructive dismissal is alleged to have occurred), and not during or as of the end of any period following such date during which the Optionee is in receipt of, or entitled to receive, statutory, contractual or common law notice of termination or any compensation in lieu of such notice.
Expiry of Option. If an Option expires or terminates for any reason without having been exercised in full, the unpurchased Shares subject thereto shall again be available for the purposes of the Plan.
Expiry of Option. The term of the vested Options shall be from the date hereof and shall expire on the earlier of the following:
(a) 5 years following the Date of Grant;
(b) 30 days following the termination of employment without cause of the Grantee or termination of the Grantee's consulting contract by the Corporation or an Affiliate for any reason, other than a failure of the Grantee to fulfill the terms of the consulting contract, as applicable;
(c) the period specified in a notice given pursuant to paragraph 7 hereof;
Expiry of Option. The Option, unless earlier exercised, shall expire and be null and void on the date (the “Expiration Date”) of the first to occur of the death of either Fxxxx Xxxxxxxx or Bxxxxxx.
Expiry of Option. If the Option Period in respect of any Candidate Technology that is not Encumbered expires without ICIL receiving written notification that the Company wishes to exercise the Option, the Option in respect of that Candidate Technology shall lapse and ICIL shall be free to dispose of that Candidate Technology as it wishes without further obligation to the Company.
Expiry of Option. The Option may be exercised at any time (subject to CRTC Approval as set out in the Purchase Agreement), in whole, during the period commencing on the date of execution of this Agreement and terminating at 5:00 p.m. (Toronto time) on the Outside Date (the “Expiry Date”). At the close of business on the Expiry Date, the Option will expire and terminate.
Expiry of Option. If the Option is not exercised prior to the expiry of the Option Period, the Option shall expire and the Optionee shall thereafter have no further option to purchase the Lands under this Agreement. If the Optionee has not exercised the Option prior to the expiry of the Option Period then provided that the Optionor has complied with its obligations under this Agreement the Optionor may retain the Option Price for its own use absolutely.
Expiry of Option. If the option granted under Section 4.1 expires under the terms of this Agreement, Robexxx xxxll transfer to RiboGene all information, including, without limitation, data, reports and documentation generated by Robexxx xx the course of the performance of the Development Program and all rights of Robexxx xx and to such information.
Expiry of Option. If the Grantee fails to exercise the Option before the expiration of the Option Term this Option Agreement shall terminate and the Grantor may retain the Option Fee and shall have no further obligation to the Grantee. If the parties meet the Conditions to Purchase and an Asset Sale Agreement is secured, the Option Fee shall be rebatable against the Purchase Price.
Expiry of Option. The Option shall expire and all right, claim or interest of Purchasers or their designees shall terminate as to any and all applicable Securities which have not been purchased on or before the earlier of December 31, 2005 or demand for payment of the Note (other than a demand following a material default by any Stockholder hereunder) (the "Expiry Date"); provided that, if Stockholders shall fail to transfer to Purchasers any Securities with respect to which the Option shall have been exercised, by reason of a default of the Stockholders, the Expiry Date shall be extended until Stockholders shall deliver such Securities.
