Common use of First Installment Clause in Contracts

First Installment. Commencing on the Option Date, Optionee may exercise the Option for up to 50 percent of the number of Option Shares.

First Installment. Commencing on the Option Date, Optionee may exercise the Option for up to 50 33⅓ percent of the number of Option Shares.

First Installment. Commencing on the Option Date, Optionee may exercise the Option for up to 50 331/3 percent of the number of Option Shares.