First Option Termination Clause Samples
First Option Termination. The First Option will be of no further force or effect and will automatically terminate if:
(a) subject to ▇▇▇▇▇▇ first being given the opportunity to remedy pursuant to Section 4.9, ▇▇▇▇▇▇ has not satisfied one or more of the First Option Conditions as required by the relevant timelines pursuant to Section 4.2;
(b) subject to ▇▇▇▇▇▇ first being given the opportunity to remedy pursuant to Section 4.11, ▇▇▇▇▇▇ fails to deliver the First Option Exercise Notice by the First Option Deadline; or
(c) delivers the First Option Termination Notice to each member of the CSG Group.
First Option Termination. The satisfaction of the First Option Exercise Conditions is within the sole and unfettered discretion of Athena and is not a contractual obligation. The First Option shall, subject to Article 9, be of no further force or effect, and shall automatically terminate if:
(a) Athena provides written notice to Nubian of its election not to advance with the Transaction at any time during the First Option Period; or
(b) Athena, subject to Section 3.04, decides not to satisfy, or does not satisfy, the First Option Exercise Conditions within the time periods set out in Section 3.02.
First Option Termination. The Funding of the First Option Expenditures is within the sole and unfettered discretion of Nevada Lithium and is not a committed amount. The First Option will, subject to Section 16, be of no further force or effect, and will automatically terminate if:
(a) Nevada Lithium provides written notice to Iconic not to advance with the Transaction at any time during Phase I; or
(b) Nevada Lithium, subject to Section 4.4, decides not to Fund, or does not Fund, the First Option Expenditures within the time periods set out in Section 4.2.