General Option Sample Clauses

General Option. At any time (i) during the period beginning on January 16, 2005, and ending on July 15, 2010, (ii) after a change of control (as defined in that certain Loan Agreement dated July 16, 2003, between the Company, as borrower, and Catalyst, as lender, referred to herein as the "Loan Agreement"), (iii) after the closing of a public offering of securities by the Company, (iv) after the Company files for protection under the Bankruptcy Code, or (v) after the Company materially breaches the Loan Agreement, and upon 120 days prior written notice to the Company for an exercise under (i) above and 5 days prior written notice to the Company for exercises under (ii) through (v) above (such notice being herein referred to as the "Put Notice"), the Holder shall have the option to require the Company to purchase the Shares of Common Stock issued or issuable upon exercise of this Warrant (or any portion thereof) for a price equal to the Current Market Price of the Shares as of the date the Company receives the Put Notice, or, at the election of the Holder, the greater of (i) the Current Market Price of the Shares or (ii) the appraised value of the Company divided by the number of Shares subject to this put option. The put option arising under (ii) through (v) above shall apply only for the period beginning on the date hereof and ending on January 15, 2005. The appraised value of the Company shall be determined as of the last day of the month immediately preceding the date the Put Notice is delivered to the Company in the following manner: First, the Holder shall select and pay for an appraisal of the Company performed by an independent certified appraiser (the "First Appraisal"). The appraised value of the Company as determined by the First Appraisal shall be binding upon the Company and the Holder as the appraised value of the Company unless the Company shall notify the Holder in writing of its objection to such appraised value within 30 days of the Company's receipt of notice of such appraised value (the "First Appraisal Notice"). If the Company so notifies the Holder, the appraised value of the Company determined by the First Appraisal shall nevertheless remain the appraised value of the Company unless the Company shall pay for and obtain a second appraisal of the Company from a certified appraiser (the "Second Appraisal") and deliver such Second Appraisal to the Holder within 30 days of receipt of the First
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General Option. At any time after the period beginning on January 28, 1998, upon 90 days prior written notice to the Company (such notice being herein referred to as the "Put Notice"), provided the Company's stock is no longer publicly traded, the Holder shall have the option to require the Company to purchase this Warrant and/or the Shares of Common Stock issued pursuant hereto (or any portion thereof) for a price equal to the product of (i) the percentage ownership of the Common Stock of the Company represented by this Warrant and the Shares of Common Stock issued pursuant hereto that the Holder wishes to require the Company to purchase under this Section 7(b) (expressed as a decimal and calculated on a fully diluted basis), and (ii) the greater of the following values, all calculated as of the last day of the month immediately preceding the date the Put Notice is delivered to the Company (A)
Sample 1
General Option. An employee who has opted for transfer to another classification in the plant in lieu of retrenchment shall have three months in which to change their mind and accept retrenchment terms which were available to them at the time of transfer.
Sample 1
General Option. An employee who has opted for transfer to another classification in lieu of retrenchment shall have 8 weeks in which to change their mind and accept retrenchment terms which were available at the time of transfer.
Sample 1
General Option. (1) Subject to the terms and conditions of this Agreement, the Parties intend to collaborate on the development [***]. Gilead will prepare an initial, high level development plan for each Product, which plan shall set forth the initial development activities to be conducted under this Agreement (any such product development plan, as may be updated from time to time by Gilead through the JDC and subject to Section 4.1(a)(4)), is hereinafter referred to as a “Product Development Plan” or “PDP”). Gilead will [***]. Durect shall [***]. The timelines, anticipated Durect Costs, and other details associated with performing the Durect Development Activities will be set forth in each PDP (such details, the “Requirements”). In the event that [***]. If Gilead chooses the foregoing clause (ii) option, then [***].
Sample 1
General Option. Executive and Company have entered into an agreement dated the 17th day of February, 1994 and entitled “Agreement for Compensation on Discharge Subsequent to a Change in Control” (the “Change in Control Agreement”) the term of which has been extended to February 17, 2004. It is agreed that in the event there is a termination of the employment of Executive with Company and as a result of such termination Executive would but for any election pursuant to the provisions of this Section 9, become entitled to payment under the Change in Control Agreement, he shall within ninety (90) days of such termination elect to receive either (a) all of the payments and other benefits provided for by the terms of this Agreement or (b) all of the payments and other benefits provided for by the provisions of the Change in Control Agreement; but in no event shall he be entitled to benefits under this Agreement and any provision of the Change in Control Agreement. Further, in the event Executive elects to receive payments and benefits under this Agreement or under the Change in Control Agreement, he shall be entitled to no other payments or damages for termination of employment. It is further agreed that notice by Company that its election to terminate this Agreement as provided in Subsection 3b hereof shall be deemed a discharge for purposes of applying the provisions of the Change in Control Agreement. In the event, Executive elects to receive payments and benefits pursuant to the provisions of the Change in Control Agreement and it is subsequently determined that he is not entitled to benefits thereunder but there is no determination that he was discharged for cause for purposes of the Change in Control Agreement, Executive shall be entitled to payments and benefits pursuant to the provisions of this Agreement if and to the extent that but for such election he would have been so entitled.
Sample 1

Related to General Option

  • Minimum Exercise No fewer than 1001 shares of Common Stock may be purchased at any one time, unless the number purchased is the total number at the time exercisable under the Option.

  • Option Right Landlord hereby grants to the originally named Tenant herein (“Original Tenant”), and its “Permitted Assignees”, as that term is defined in Section 14.8, below, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not more than eighteen (18) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (ii) as of the end of the Lease Term, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (iii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice; and (iv) the Lease then remains in full force and effect and Original Tenant or a Permitted Assignee occupies the majority of the Premises at the time the option to extend is exercised and as of the commencement of the Option Term. Landlord may, at Landlord’s option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord), the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and any Permitted Assignees, and may be exercised by Original Tenant or such Permitted Assignees (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).

  • Option Rights Except as provided below, the Option shall be valid for a term commencing on the Grant Date and ending 10 years after the Grant Date (the "EXPIRATION DATE").

  • Period of Option and Limitations on Right to Exercise The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraph below, provide in writing that the Option will extend until a later date:

  • Release of Shares From Repurchase Option (a) 25% of the Shares shall be released from the Company’s repurchase option one year after the date of this Agreement, 25% of the Shares shall be released from the Company’s repurchase option two years after the date of this Agreement, 25% of the Shares shall be released from the Company’s repurchase option three years after the date of this Agreement, and the remaining 25% of the Shares shall be released from the repurchase option four years after such date, subject to Director continuing to be a Service Provider on such dates.

  • Hxxxxx’s Exercise Limitations The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

  • Method of Exercise of Option (a) Subject to the terms and conditions of this Agreement, the Option shall be exercisable by notice in the manner set forth in Exhibit A hereto (the "NOTICE") and provision for payment to the Corporation in accordance with the procedure prescribed herein. Each such Notice shall:

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