Grant of First Option. Tenant shall have the option to extend the Term of this Lease for an additional five (5) years (the "First Option"); provided that Tenant is not in default under this Lease beyond any applicable notice and cure periods.
Grant of First Option. ABC hereby grants Continental an option (the "First Option") to purchase from ABC that number of fully-paid, non-assessable Ordinary Shares that represent fifty percent (50%) of the issued share capital of the Company, on an as-converted basis, at the time of exercise (such Ordinary Shares the "First Option Shares"). As used in this Agreement, the phrase "on an as-converted basis" means assuming exercise or conversion of any preferred shares, outstanding options, warrants, or other convertible securities. After the full exercise of the First Option by Continental, CTVH shall own 50% of the issued share capital of the Company, while Continental shall own 50% of the issued share capital of the Company.
Grant of First Option. Subject to the terms and conditions of this --------------------- Agreement, with respect to each [*****], Diversa hereby grants to NEI a right of first option to an exclusive, worldwide, royalty-bearing license (the "License") under the Diversa Technology to use the applicable [*****] to make, have made, use, sell, offer for sale and import Products outside the applicable Field.
Grant of First Option. Upon and subject to the terms and conditions hereof, the Nubian Parties hereby grant to Athena the sole, exclusive and irrevocable right and option to acquire a 10% Interest (the "First Option"), free and clear of all Encumbrances other than Permitted Encumbrances.
Grant of First Option. Upon and subject to the terms and conditions hereof, the Iconic Parties hereby grant to Nevada Lithium the sole, exclusive and irrevocable right and option to acquire a 20% Interest (the “First Option”), free and clear of all Encumbrances (other than Permitted Encumbrances).
Grant of First Option. (i) In consideration for the payment of the Option Fee (receipt of which is acknowledged by execution of this deed) by the Optionholder to the Shareholder, the Shareholder grants to the Optionholder an irrevocable right to purchase the First Option Shares for the Initial Exercise Price in accordance with the terms of this deed (First Option).
(ii) The Call Option confers on the Optionholder the right, but not the obligation, to give the Shareholder the Notice of Exercise of Call Option in respect of the First Option Shares in accordance with clause 3.
Grant of First Option. Each Optionholder does hereby grant to ADC an option (the "First Option") to acquire from the Optionholder all right, title and interest in and to the Shares, free and clear of any Liens except as set forth in Schedule 2.1.
Grant of First Option. The members of the CSG Group hereby grant to Xxxxxx the sole and exclusive right and option, in accordance with the other provisions of this Article 4, on or before the third anniversary of the Effective Date (“First Option Deadline”), to acquire a 49% Earned Interest, free and clear of all Encumbrances except the Existing Royalties (“First Option”).
Grant of First Option. Subject to the satisfaction of the First Option Conditions (or Seabridge waiving such conditions in writing), Seabridge hereby grants to Royal Gold an irrevocable option (the “First Option”) to acquire the Royalty at a Royalty Percentage of 1.25 percent, free and clear of all Liens, which option Royal Gold may exercise, in its sole discretion, as follows:
Grant of First Option. (1) Subject to the satisfaction of the First Option Conditions (or Seabridge waiving such conditions in writing), Seabridge hereby grants to Royal Gold an irrevocable option (the “First Option”) to acquire the Royalty at a Royalty Percentage of 1.25 percent, free and clear of all Liens, which option Royal Gold may exercise, in its sole discretion, as follows:
(a) by Royal Gold delivering a written notice (the “First Option Notice”) to Seabridge at any time during the First Option Exercise Period notifying Seabridge that it may wish, but is not obliged, to exercise the First Option;
(b) within ten (10) days of the receipt of the First Option Notice, Seabridge shall deliver to Royal Gold a certificate (the “First Option Certificate”) signed by Seabridge and repeating each of the representations and warranties of Seabridge in Section 2.02 hereof, provided that, Seabridge may deliver with the First Option Certificate an updated Disclosure Letter containing such qualifications to the representations contained in Sections 2.02(i) to 2.02(o) as may be necessary to provide accurate representations and warranties as at the date of the First Option Certificate (which representations and warranties will be deemed to have been repeated on the date the First Option Confirmation Notice is delivered);
(c) within ten (10) days of the receipt of the First Option Certificate, by Royal Gold delivering written notice (the “First Option Confirmation Notice”) to Seabridge confirming that it wishes to exercise the First Option; and
(d) upon delivery of the First Option Confirmation Notice, by Royal Gold paying the First Option Purchase Price to Seabridge as follows:
(i) one-third (1/3) of the First Option Purchase Price shall be payable by Royal Gold to Seabridge upon release of the First Option Royalty Agreement from escrow in accordance with the Escrow Agreement (provided that, if the First Option Confirmation Notice and the Second Option Confirmation Notice are delivered at the same time, then such payment shall be made upon release of the Second Option Royalty Agreement from escrow in accordance with the Escrow Agreement);
(ii) one-third (1/3) of the First Option Purchase Price shall be payable by Royal Gold to Seabridge on or before the date that is 270 days after the delivery of the First Option Confirmation Notice; and
(iii) one-third (1/3) of the First Option Purchase Price shall be payable by Royal Gold to Seabridge on or before the date that is 540 days after the deliv...
