Grant of Initial Option Sample Clauses

Grant of Initial Option. The Optionor hereby grants to the Optionee the sole and exclusive right and option, in accordance with the other provisions of this Article 3, to acquire in three stages an Initial Interest of up to 75%, free and clear of all Encumbrances except for those described in Schedule A.
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Grant of Initial Option. The Company hereby grants to Optionee the right, privilege and option (“Initial Option”) to purchase 2,000,000 shares of the Company’s common stock (“Common Stock”) at an exercise price equal to $0.05 per share, the fair market price of the Company’s common stock on the Effective Date. The Initial Option shall expire on the tenth anniversary of the Effective Date (the “Expiration Date”).
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Grant of Initial Option. Upon payment by Purchaser of $20,000.00, (the “Initial Option Payment”) Owner grants to Purchaser the option to purchase the Property for the Purchase Price. The term of the option commences upon execution of this agreement by all parties, and shall continue through a date 15 calendar months from the date of execution of this agreement by Owner. (the “Option Period”). This is an exclusive option.
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Grant of Initial Option. Xxxxxxx hereby grants to Osisko the exclusive and irrevocable option (the “Option”) to earn a 50 % Participating Interest, by (a) contributing to the Venture, subject to Section 11.1, Expenditures in an amount totaling $ 70,000,000 to fund Exploration and, as the case may be Exploration and Development activities on or for benefit of the Project during a four (4)-year period commencing as of the Effective Date (the “Option Period”) and scheduled as follows : Schedule of Expenditures Cumulative Minimum Expenditures On or before the first anniversary of the Effective Date $ 15,000,000 (firm commitment) On or before the second anniversary of the Effective Date $ 30,700,000 On or before the second anniversary of the Effective Date $ 54,300,000 On or before the fourth anniversary of the Effective Date $ 70,000,000 and (b) providing Xxxxxxx advances as follows, provided that such unsecured advances shall be more fully described and evidenced in separate loan agreements (the “Loan Agreements”) : (i) for a period of 24 months the principal amount of $8.5 million (the “$8.5 Million Loan”) at a rate of interest per annum of 5% calculated on the full principal amount and compounded monthly from and including the day the funds are advanced to and including the date of payment; the maturity date on the $8.5 Million Loan will be the 24 month anniversary of the advance of funds with the option exercisable by Xxxxxxx to repay, without penalty, the full amount of principal and interest owing thereunder at any time prior to the maturity date; and (ii) for a period of 36 months up to an aggregate principal amount of $22.5 million (the “$22.5 Million Loan”) at the rate of interest per annum of 5% calculated on the outstanding principal amount compounded monthly from and including the dates that funds are advanced to and including the date of payment; the principal amount and interest owing pursuant to the $22.5 Million Loan shall be due and payable on the earlier of (1) the date of Commencement of Commercial Production and (2) the 24 month anniversary of the advance of funds; with the option exercisable by Xxxxxxx to repay, without penalty, the full amount of principal and interest owing thereunder at any time prior to maturity; provided that Xxxxxxx will apply the proceeds of the $8.5 Million Loan and the $22.5 Million Loan (collectively the “Loans”) exclusively for the payments required under the Underlying Option Agreements, with no permitted drawdown under the Loans until...
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Grant of Initial Option. The Corporation hereby grants to the Optionee the right and option to purchase up to an aggregate of Ninety Thousand (90,000) Shares (subject to adjustment as provided in Paragraph 6 hereof), on the terms and conditions set forth herein (hereinafter the “Option”). The Optionee acknowledges that the Option will not be an “incentive option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This Option is not being issued pursuant to the Corporation’s 2012 Equity Incentive Plan; provided, however, that this Option is granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
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Grant of Initial Option. The Seller hereby grants to the Purchaser the option to purchase the Initial Shares at the purchase price described in Section 1.04 below (the “Initial Option”). The Purchaser may exercise the Initial Option, in whole and not in part, from 9:30 a.m. prevailing local time in New York City on the Effective Date through 4:00 p.m. prevailing local time in New York City on the applicable Expiration Date, by delivery of a notice (an “Exercise Notice”) to the Seller by email as follows: j.xxxxxx@xxxx.xxx, with a copy to sxx@xxxxxx.xxx, on the date of exercise, to be accompanied by a phone call to the Seller as follows: Jxxx Xxxxxx at 200-000-0000 or Sxxxxxx Xxxxxx at 400-000-0000, indicating that such notice has been sent. Any Exercise Notice shall specify (i) the delivery method for the shares to be delivered to the Purchaser, (ii) the closing date for the transfer of the shares (the “Closing Date”) and (iii) the location of the closing of such sale.
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Grant of Initial Option. Subject to the terms and conditions set forth below in this Agreement, the Corporation hereby grants to Participant an option (the "Option"), exercisable from and after this date, to purchase Twenty Thousand (20,000) shares of the Corporation's common stock ("Shares") at a price of Six Dollars and Seventy-Five Cents ($6.75) per share ("Exercise Price").
Sample 1
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Grant of Initial Option. Lessor hereby grants to Lessee an option (the “Initial Option”) to extend the Term of this Lease for an additional term of five (5) years (the “Initial Option Term”), with all terms, covenants and conditions of this Lease unmodified and in full force and effect except for Minimum Monthly Rent, which shall be as set forth below. In order to exercise the Initial Option, Lessee must give Lessor written notice of its intention to do so (“Initial Option Notice”) on or before February 28, 2014. In the Initial Option Notice, Lessee shall have the right to specify an amount of square footage up to a total of 241,808 square feet that Lessee will lease in the event that, in response to the Initial Option Notice, Lessor opts to construct the Building Addition (or portion thereof) and relocate a portion of the Premises thereto in accordance with the provisions of Section 55.2.
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Related to Grant of Initial Option

  • 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.

  • Grant of Options Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a NON-QUALIFIED STOCK OPTION (the “Option”) with respect to ___________ shares of Common Stock of the Company.

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Grant of Option; Conditions Tenant shall have a continuing right of first offer (the “Right of First Offer”) with respect to the following space in the Office Section: (i) Commencing on the date hereof, all space in Tower IV other than on the first floor; (ii) Commencing on the date hereof, any space in Tower Ill that is contiguous to the then Premises, whether on a floor above or below the Premises (including SSB Expansion Space and Early Expansion Space not added under Section 41.01 and any expansion space under Section 41.02) or on the same floor as a portion of the Premises, but in Tower Ill; (iii) Commencing July 1, 2019, any space in Tower I, but subject to the rights, existing as of the date of this Lease, of other tenants of the Building. Any such space that becomes available as hereinafter described is referred to herein as the “Offering Space”. If during the Term Landlord determines (in Landlord’s sole judgment) that Offering Space is available to lease to a third party other than the existing tenant or licensee of the Offering Space, then Landlord shall so advise Tenant (the “Advice”). Tenant may lease such Offering Space in its entirety only, under the applicable terms described below, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within ten business (10) days after the date of the Advice. In any event, Tenant’s delivery of a Notice of Exercise shall be deemed to be the irrevocable exercise by Tenant of its Right of First Offer subject to and in accordance with the provisions of this ARTICLE 43. Any reference to the Advice below shall be a reference to the Advice with respect to which a Notice of Exercise was given. Notwithstanding the foregoing, Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Advice, if: (a) A material default is then continuing at the time that Landlord would otherwise deliver the Advice; or (b) Tenant herein named (or a transferee pursuant to a Related Party Transfer, as defined in ARTICLE 17 of this Lease) is not in occupancy of at least 70% of the Premises initially leased at the time Landlord would otherwise deliver the Advice; or (c) This Lease has been assigned (other than pursuant to a Related Party Transfer) prior to the date Landlord would otherwise deliver the Advice.

  • Option Right Landlord hereby grants to the originally named Tenant herein (“Original Tenant”), and its “Permitted Assignees”, as that term is defined in Section 14.8, below, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (ii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice in the twelve (12) month period prior to the date of Tenant’s attempted exercise; and (iii) the Lease then remains in full force and effect. Landlord may, at Landlord’s option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord), the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and any Permitted Assignees, and may be exercised by Original Tenant or such Permitted Assignees (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Option Rights Except as provided below, the Option shall be valid for a term commencing on the Grant Date and ending 10 years after the Grant Date (the "EXPIRATION DATE").

  • Option Grant You have been granted a NON-STATUTORY STOCK OPTION (referred to in this Agreement as your "Option"). Your Option is NOT intended to qualify as an "incentive stock option" under Section 422 of the Internal Revenue Code of 1986, as amended.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

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