Grant of Exchange Option Sample Clauses

Grant of Exchange Option. 3.1 The Option Holder grants to Incyte an option to purchase his Hexagen Shares in accordance with the terms herein.
Sample 1
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Grant of Exchange Option. (a) The Corporation hereby grants Orion the irrevocable right (but not the obligation) (the “Exchange Option”) to exchange the HPX Subscription Shares (and no other shares or securities), in whole or in part, and from time to time, upon completion of a Qualifying XXXX IPO or at any time thereafter but in any event prior to the Option Termination Date, for a number of Exchange Shares equal to: (x) the number of HPX Subscription Shares to be so exchanged on the applicable Exchange Date, as set out in the Exchange Election (as defined below), multiplied by the HPX Subscription Price divided by (y) a price per share (the “Exchange Price”) equal to (A) 90% of the gross price per share at which XXXX Common Stock is sold in the Qualifying XXXX IPO, if the Qualifying XXXX IPO occurs on or before September 30, 2022; (B) (B) 85% of the gross price per share at which XXXX Common Stock is sold in the Qualifying XXXX IPO, if the Qualifying XXXX IPO occurs on or after October 1, 2022 but on or before December 31, 2022; or (C) 80% of the gross price per share at which XXXX Common Stock is sold in the Qualifying XXXX IPO, if the Qualifying XXXX IPO occurs on or after January 1, 2023. If, in the case of a Qualifying XXXX IPO described in clause (b) of the definition thereof, such gross price per share is not readily identifiable, then such gross price per share shall be deemed to equal the average of the last reported per share sale price of the successor entity’s common stock on the public securities market on which it is primarily traded for the twenty (20) consecutive trading days immediately prior to the closing date of such Qualifying XXXX IPO; provided, however, that if no sales of such common stock occurred on any such trading day, the mean between the closing “bid” and “asked” per share prices for such common stock on such trading day shall be used in lieu of the last reported per share sale price for such trading day.
Sample 1
Grant of Exchange Option. The REIT, in consideration of Ten Dollars ($10.00) paid to it by the Purchaser and other good and valuable consideration, hereby grants to the Purchaser the option to purchase, subject to the provisions of this Agreement, that number of fully paid and nonassessable shares of Preferred Stock determined in accordance with Section 2.3 below in exchange for the entire amount of the limited liability company interests in the Joint Venture then held by the Purchaser (this option being hereinafter referred to as the "Exchange Option").
Sample 1
Grant of Exchange Option. Pursuant to the agreement, the Company will grant to Thomson an irrevocable option to exchange all (but not part) of its TTE Shares for new Shares to be issued by the Company. The option is exercisable within the period from the earlier of (a) the completion of the Mobile Spin-Off and (b) 18 months after the Closing Date, and ending on, subject to certain extensions, the expiry of three months after the first public release of annual or semi-annual financial statements of the Company subsequent to the commencement of the exercise period.
Sample 1

Related to Grant of Exchange Option

  • Right of Exercise Subject to the provisions hereof, each Registered Warrantholder may exercise the right conferred on such holder to subscribe for and purchase one (1) Common Share for each Warrant after the Issue Date and prior to the Expiry Time and in accordance with the conditions herein.

  • Exercise of Nonstatutory Stock Option There may be a regular ------------------------------------- federal income tax liability upon the exercise of a Nonstatutory Stock Option. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

  • Exchange Option (a) The Board of Directors may, at its sole option and without seeking the approval of holders of Voting Shares or Rights but with the prior written consent of the Exchange if the Common Shares are then listed on such exchange, at any time after a Flip-in Event has occurred, authorize the Company to issue or deliver in respect of each Right which is not void pursuant to Subsection 3.1(b), either: (i) in return for the applicable Exercise Price and the Right, debt, equity or other securities or assets (or a combination thereof) having a value equal to twice the applicable Exercise Price; or (ii) in return for the Right, subject to any amounts that may be required to be paid under applicable law, debt, equity or other securities or assets (or a combination thereof) having a value equal to the value of the Right, in full and final settlement of all rights attaching to the Rights, where in either case the value of such debt, equity or other securities or other assets (or a combination thereof) and, in the case of Clause 3.2(a)(ii), the value of the Right, shall be determined by the Board of Directors which may rely upon the advice of a nationally or internationally recognized firm of investment dealers or investment bankers selected by the Board of Directors.

  • 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:

  • Time of Exercise of Option This Option shall be first exercisable as to 25% of the Shares on each of the first four anniversary dates of this Agreement. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall not expire, but shall be carried forward and shall be exercisable, on a cumulative basis, until the Expiration Date, as hereinafter defined.

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Method of Exercise of Options Optionee shall notify the Company by written notice sent by certified mail, return receipt requested, addressed to the Company's principal office, or by hand delivery to such office, as to the number of Shares which Optionee desires to purchase under the options, which written notice shall be accompanied by Optionee's check payable to the order of the Company for the full option price of such Shares. As soon as practicable after the receipt of such written notice, the Company shall, at its principal office, tender to Optionee a certificate or certificates issued in Optionee's name evidencing the Shares purchased by Optionee hereunder.

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