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. (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:
Grant of First Option. 4.1 The Subsidiary hereby grants to Alliance the First Option to acquire 8 Class A Shares equal to an undivided 10% of the total issued Class A Shares at the time of the issue of the Shares to Alliance for a purchase price of $1,350,000 which has been paid.
Grant of First Option. 1.01 The Optionor, in consideration of the sum of $10, the receipt and sufficiency of which is hereby acknowledged, hereby grants to Revelstoke, on the terms and conditions hereinafter set out, the exclusive right and option (the "First Option") to acquire a 60% undivided interest in and to the Property by paying to the Optionor the sum of $600,000 cash, by issuing to the Optionor 4,000,000 shares in the capital of Revelstoke and by incurring, directly or indirectly, and paying for $6,000,000 in "Exploration Expenditures" (as hereinafter defined), to be respectively paid and issued to the Optionor and incurred and paid by Revelstoke as follows:
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. 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. Optionor hereby grants to Optionee an option and right (the "First Option") to purchase the PG&E Option Property at the price and on both the terms and conditions set forth in this Section 2 and the terms and conditions set forth in the remainder of this Option Agreement (other than in Sections 3 and 4, the provisions of which shall not be applicable to the First Option herein granted).
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.
