Grant and Exercise of Option. The Xxxxxx Parties hereby grant to Dow an irrevocable option (the “Option”) to purchase, on the terms and subject to the conditions set forth herein, the Interests at a cash purchase price equal to the Fair Market Enterprise Value (the “Purchase Price”). The Option may be exercised by Dow upon written notice (the “Option Exercise Notice”) to the Xxxxxx Parties at any time after the first anniversary of the Closing Date and prior to the Termination Date. The Option shall terminate and be of no further force and effect upon the earlier to occur of (i) the fifth anniversary of the Closing Date, and (ii) the date of the closing of the first underwritten public offering of the equity interests of the Xxxxxx Group (or its successor) (an “IPO”) pursuant to a registration statement filed pursuant to the Securities Act of 1933, as amended (such date being referred to herein as the “Termination Date”); provided, that Dow will not have the right to exercise the Option after the forty-fifth (45th) day following the date on which the Xxxxxx Parties provide written notice (“Xxxxxx Notice”) to Dow that it has filed such a registration statement for an IPO with the Securities Exchange Commission (it being understood that Dow will have the right to exercise the Option if the Xxxxxx Parties do not consummate an IPO within 180 days of the delivery of such Xxxxxx Notice). Notwithstanding the foregoing sentence, (i) Dow shall be entitled to purchase the Interests in the event that it has exercised the Option in accordance with the terms hereof prior to the Termination Date and (ii) Xxxxxx Parties’ obligation to sell the Interests shall be subject to the restrictive covenants contained in its debt EXECUTION COPY financing agreements as in effect from time to time; provided that such covenants do not adversely materially discriminate against such Interests compared to the assets of the Xxxxxx Parties taken as a whole.
Grant and Exercise of Option. (a) The Optionor hereby grants to the Optionee the sole and exclusive right and option to acquire up to an undivided 100% right, title and interest in and to the Property, free and clear of all charges, encumbrances, claims, liabilities and adverse interests of any nature or kind, except for the Royalty.
Grant and Exercise of Option. 4. (a) The Optionor hereby grants to the Optionee the sole and exclusive right and option to acquire a 50% undivided interest in and to the Property free and clear of all charges, encumbrances and claims, except for those set out in Schedule "A".
Grant and Exercise of Option. 2.1 Subject to the terms of this Agreement, the Optionors hereby grant to the Optionee the sole and exclusive right and option (the “Option”) to acquire up to a 50% interest in and to the Property, such 50% interest to be free and clear of all liens, charges, encumbrances, security interests and adverse claims arising from or through the Optionors, and subject to the laws applicable to the Property.
Grant and Exercise of Option. The Company hereby grants to Optionee an option to purchase a total of 50,000 shares of the authorized and unissued Common Stock of the Company, having a par value of $.01 per share, at the price of $4.7625 per share, upon and subject to the following terms and conditions:
Grant and Exercise of Option. The Company hereby grants to Optionee an option to purchase a total of ________________________________ (_______) shares of the authorized and unissued Common Stock of the Company, having a par value of $.10 per share, at the price of $4.00 per share, upon and subject to the following terms and conditions:
Grant and Exercise of Option. Provided Tenant is not in default hereunder beyond any applicable notice and cure period at the time of exercise, Tenant shall also have one option to renew the Term for a period of ten years (the “Renewal Term”), commencing immediately upon the expiration of the Initial Term. The Renewal Term shall be upon the same terms and conditions contained in the Lease for the Initial Term except the Base Rent shall be adjusted as set forth below (the “Base Rent for the Renewal Term”). Tenant shall exercise such option by delivering to Landlord, no later than twelve months prior to the expiration of the Initial Term (“Exercise Date”) written notice of Tenant’s desire to extend the Lease Term. Unless Landlord otherwise agrees in writing, Tenant’s failure to timely exercise such option shall waive it. If this Lease terminates or expires, all remaining renewal options shall be void.
Grant and Exercise of Option. 4.1 AMC hereby irrevocably grants to KRC the sole and exclusive right and Option to acquire a one hundred percent (100%) right, title, estate and interest of AMC’s one hundred (100%) percent net undivided interest) in and to the Property Rights and Property, free and clear of all charges, encumbrances, claims, royalties and net profit interests of whatsoever nature.
Grant and Exercise of Option. 4.1 Xxxxx hereby irrevocably grants to JRE the sole and exclusive right and Option to acquire up to and including a eighthly five percent (85%) right, title, estate and interest of Xxxxx’x one hundred (100%) percent net undivided interest) in and to the Property Rights and Property, free and clear of all charges, encumbrances, claims, royalties and net profit interests of whatsoever nature.
Grant and Exercise of Option. The Optionor hereby grants to the Optionee the sole and exclusive right and option, subject to the terms of this Agreement, to earn a 50% undivided interest in the Property free and clear of all charges and encumbrances by expending $150,000 of Expenditures on the Property on or before the times set forth in §4.1.
