First Option Period. If Xxxxxxx gives a notice in accordance with clauses 4.5 or 4.8 exercising the first option given to it under clause 4.3, then the Period of Supply for the Original Capacity under this Contract will be extended for a period of 1 year and:
(a) the Capacity End Date for the Original Capacity (as defined in clause 4.1) is amended to 08:00 hours on that date; and
(b) this clause 4.6 (relating to the exercise of the Option) will have no effect after 08:00 hours on the date originally specified in the Access Request Form as the Capacity End Date.
First Option Period. Twenty Five Thousand Dollars ($25,000.00) per year, payable in twelve (12) equal monthly installments of Two Thousand Eighty Three Dollars and Thirty-Three Cents ($2,083.33), payable on the first day of each calendar month commencing on the first day of the First Option Period, if any.
First Option Period. So long as there is no Event of Default, as defined herein, under this Lease, Tenant will have the option to extend the Term for five additional one year terms (a “Renewal Term” or collectively the “Renewal Terms”) on the same terms, covenants, and conditions of this Lease. Tenant will exercise its option to renew the Lease, if at all, by giving Landlord written notice (the “Option Notice”) at least sixty (60) days but not more than ninety (90) days prior to the expiration of the initial Term or Renewal Term.
First Option Period. The initial term of the Option (the "FIRST OPTION PERIOD") shall commence on the Effective Date and shall expire on May 31, 2005. Upon and subject to the terms of this Agreement, Optionee may acquire all or any part of the Option Property at any time prior to the expiration of the First Option Period, and thereafter, so long as the Option has not expired or terminated.
First Option Period. If an Event of Default by Tenant shall not then exist, Tenant shall have the right to extend the Initial Term of this Lease for a period of five (5) years ("First Option Period"). The First Option Period shall commence on the day following the date on which this Lease otherwise terminates according to the provisions of Paragraph 2, and shall terminate at midnight on the last day of the sixtieth (60th) month thereafter. Tenant shall exercise the right to the First Option Period by delivering written notice to Landlord not later than six (6) months prior to the expiration of the Agreed Initial Term of this Lease.
First Option Period. Five (5) years beginning at the expiration date of the initial term.
First Option Period. If GSK's Development Election for the applicable Licensed Product was made during the First Option Period pursuant to Sections 4.3.1(a) or 4.3.2(a) (or GSK is deemed to have done so pursuant to Section 6.2.1(a)(iii)): (A) the royalty rate for all Licensed Products shall [ * ]; and (B) the royalty rate for the individual Licensed Product so accepted during the First Option Period shall be as follows: [ * ]
First Option Period. (January 1, 2007 to September 30, 2008), at the commencement of the First Option period a) cash payment of $27,000.00 to Optionor to be allocated as $17,000.00 to the Grand Lake Licenses and $10,000.00 to the Shallow Lake Licenses, and b) issuing of 20,000 common shares in Optionee to Optionor to be allocated as 10,000 common shares to the Grand Lake Licenses and 10,000 common shares to the Shallow Lake Licenses; In the event the average price for the 30 days prior to expiration of the Restriction Period is less than One Dollar ($1.00) the Optionee shall issue to the Optioner and additional 5000 common shares to the Optioner at which time the Optioner shall confirm to the Optionee the allocation of the additional shares.
First Option Period. Each Stockholder, other than the Selling Stockholder, shall have twenty days after receipt of notice from the Corporation
First Option Period. Base Rent during the First Option Period shall be an amount equal to 95% of Fair Market Rent as of the commencement of the First Option Period, determined as set forth in Section 3.4, provided that such Base Rent shall be at least $5,496.45 per month and not more than $5,658.11 per month, and shall be subject to a 2% annual increase.
