Common use of Grant and Acceptance Clause in Contracts

Grant and Acceptance. On the terms and conditions set forth in this Agreement, (a) Optionor hereby grants to Optionee an option (the "Put Option") to sell to Optionor the Optioned Units at the Option Exercise Price and (b) Optionee hereby confirms its acceptance of the Put Option.

Grant and Acceptance. On the terms and conditions set forth in this Agreement, (a) Optionor hereby grants to Optionee an option (the "Put Call Option") to sell purchase from Optionor up to Optionor all of the Optioned Retained Units at the Option Exercise Price and (b) Optionee hereby confirms its acceptance of the Put Call Option.