GRANT OF KAHTA OPTION Sample Clauses

GRANT OF KAHTA OPTION. (a) AME owns and controls a 100% interest in the Production Lease IR/EPS/658 in Petroleum District XII - Gaziantep (the 'KAHTA LEASE'), covering an area of 7,060 hectares (hereinafter referred to as the 'KAHTA FIELD'). (b) In consideration of the payment of US$1 to AME (the receipt and sufficiency of which AME hereby acknowledges) and subject to the terms and conditions of this Agreement, AME hereby grants to Avenue the option to acquire a 45% Participating Interest in the Avenue Kahta Xxxxx (as defined below) and, subject to clause 5.1(c), an undivided 45% Participating Interest in the Kahta Lease. (c) Notwithstanding clause 5.1(b) or any other provision of this Agreement, except as expressly provided in this clause 5 or clause 6.5(a), Avenue or (as applicable) its Nominated Affiliate shall not, by virtue of this Agreement or its holding of a 45% Participating Interest in the Kahta Lease: (i) have any rights in respect of the production from any xxxxx on the Kahta Lease other than the Avenue Kahta Xxxxx, or to any plant or equipment situated on the Kahta Lease (except for plant and equipment used exclusively in relation to the Avenue Kahta Xxxxx); or (ii) be required to contribute to the costs of or arising from any activities on the Kahta Lease, or to the rentals and other lease payments due under the Petroleum Law or the Kahta Lease, and AME shall indemnify and hold harmless Avenue or its Nominated Affiliate from and against any and all such costs, and all other liabilities arising as holder of an interest in the Kahta Lease.
Sample 1
AutoNDA by SimpleDocs

Related to GRANT OF KAHTA OPTION

  • 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.

  • 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 Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Grant of the Option The Company hereby grants to the Participant the right and option (the “Option”) to purchase, on the terms and conditions hereinafter set forth, all or any part of an aggregate of Shares, subject to adjustment as set forth in the Plan. The purchase price of the Shares subject to the Option shall be $ (the “Option Price”). The Option is intended to be a non-qualified stock option, and is not intended to be treated as an option that complies with Section 422 of the Internal Revenue Code of 1986, as amended.

  • 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.

  • 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 Company Reacquisition Right Except to the extent otherwise provided by the Superseding Agreement, if any, in the event that the Participant’s Service terminates for any reason or no reason, with or without cause, the Participant shall forfeit and the Company shall automatically reacquire all Units which are not, as of the time of such termination, Vested Units (“Unvested Units”), and the Participant shall not be entitled to any payment therefor (the “Company Reacquisition Right”).

  • Grant of RSUs The Company hereby grants to the Grantee the Award of RSUs, as set forth in the Award letter. An RSU is the right, subject to the terms and conditions of the Plan and this Agreement, to receive a distribution of a share of Common Stock for each RSU as described in Section 6 of this Agreement.

  • Date of Grant The date that the Option is granted (the “Date of Grant”) is set forth above.

  • Grant of PSUs For valuable consideration, receipt of which is hereby acknowledged, Hovnanian Enterprises, Inc., a Delaware Corporation (the "Company"), hereby grants the target number (“Target Number”) of performance share units ("PSUs") listed above to the Participant, on the terms and conditions hereinafter set forth. This grant is made pursuant to the terms and conditions of the 2020 Company Second Amended and Restated Stock Incentive Plan (the "Plan"), which Plan, as amended from time to time, is incorporated herein by reference and made a part of this Agreement. The actual number of PSUs, if any, that the Participant will be eligible to earn with respect to this Agreement (the “Earned PSUs”), subject to meeting the applicable service and performance vesting requirements, will equal the Target Number multiplied by the applicable “Performance Multiplier” as defined in Exhibit A hereto. Each Earned PSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!