Grant of Option and General Terms Sample Clauses

Grant of Option and General Terms. Provided that (i) no material adverse change has occurred in Tenant's financial condition; (ii) this Lease is in full force and effect, and (iii) no Event of Default shall exist under this Lease, or would exist but for the pendency of any cure periods provided under SECTION 21.1, either on the date Tenant exercises its Renewal Option (as hereinafter defined) or as of the effective date of the Renewal Term (as hereinafter defined), Tenant shall have the option to extend the term of this Lease for one (1) additional period (the "Renewal Option") of five (5) years (the "Renewal Term"). The Renewal Option shall be subject to all of the terms and conditions contained in the Lease except that (i) the Renewal Rent (as hereinafter defined) shall be as set forth below; (ii) Landlord shall have no obligation to improve the Premises; and (iii) there shall be no further option to extend the Term of the Lease beyond the Renewal Term.
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Grant of Option and General Terms. Provided that (i) no material adverse change has occurred in Tenant’s financial condition, (ii) this Lease is in full force and effect, (iii) Xxxx.xxx, LLC, a Delaware limited liability company, its Related Entity pursuant to an assignment or sublease in accordance with Section 10.4 or an Ownership Transferee pursuant to a transfer in accordance with Section 10.5 is in possession of the entire Premises, and (iv) no Event of Default shall exist under this Lease, either on the date Tenant exercises its Renewal Option (as defined in this Section 25.1) or as of the effective date of the Renewal Term (as defined in this Section 25.1), or would exist but for the pendency of any cure periods provided under Section 20.1 herein (unless such Event of Default requires notice under Section 20.1 and Landlord has not delivered such notice to Tenant); Tenant shall have the option to extend the Term of this Lease with respect to the entire Premises for one (1) additional period (the “Renewal Option”) of seven (7) years (the “Renewal Term”). The Renewal Option shall be subject to all of the terms and conditions contained in the Lease except that (a) the Renewal Rent (as defined in Section 25.3) shall be at the then prevailing Market Rate (as defined in Section 25.3) on the commencement date of the Renewal Term; (b) Landlord shall have no obligation to improve the Premises or provide any improvement allowance (except as may be set forth in the Landlord’s Response (as defined in Section 25.2) or included as part of the Market Rate); and (c) there shall be no further option to extend the Term beyond the Renewal Term.
Sample 1
Grant of Option and General Terms. Provided that (i) no material adverse change has occurred in Tenant's financial condition, (ii) this Lease is in full force and effect, and (iii) no Event of Default shall exist under this Lease beyond the applicable notice and cure period, either on the date Tenant exercises its Renewal Option (as hereinafter defined) or as of the effective date of the Renewal Term (as hereinafter defined), or would exist but for the pendency of any cure periods provided under Section 21.1 herein, Tenant shall have the option to extend the term of this Lease with respect to the entire Premises for one (1) additional period (the "Renewal Option") of five (5) years (the "Renewal Term"). The Renewal Option shall be subject to all of the terms and conditions contained in this Lease except that (iv) Basic Rent payable in the first Lease Year of the Renewal Term shall be at the Market Rate, as determined pursuant to the provisions of this Article XXVII and shall increase by not less than 3% annually in each Lease Year of the Renewal Term; (v) Landlord shall have no obligation to improve the Premises; and (vi) there shall be no further option to extend the term of the Lease beyond the expiration of the Renewal Term. 27.2
Sample 1

Related to Grant of Option and General Terms

  • Grant of Options The Company hereby grants Optionee the right and option ("Option") to purchase the above described Twenty Million (20,000,000) shares of Common Stock, on the terms and conditions set forth herein and subject to the provisions of the Form S-8 registration statement in exchange for services provided by Employee to the Company, the options shall vest immediately upon the exercise hereof.

  • 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.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Confirmation of Grant of Option Pursuant to a determination by the Board of Directors of the Company made as of April 19, 2001 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19, 2001, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

  • Term of Options Unless the Options terminate earlier pursuant to the provisions of this Agreement or the Plan, the Options shall expire on the seventh (7th) anniversary of the Grant Date (“Option Expiration Date”).

  • Amendment of Option This Agreement and the terms of the Option may be amended by the Board or the Committee at any time (i) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable due to any addition to or change in the Code or in the regulations issued thereunder, or any federal or state securities law or other law or regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (i), with the consent of WGNB and the Grantee.

  • Terms of Option The Option granted hereunder shall be exercisable from time to time by the Optionee by the giving of written notice of exercise to the Company in advance of an exercise date hereinafter set forth, specifying the number of shares to be purchased, and by payment of the purchase price therefore by either (i) cash or certified or cashier's bank check to the order of the Company, or (ii) shares of stock of the Company having a fair market value equal to the purchase price on the exercise date, subject, however, to the following restrictions:

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

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