Grant of Option to Purchase. The Company hereby grants to Optionee the right and option to purchase all or any part of 10,000 shares of the issued and outstanding shares of stock on the terms and conditions set forth herein (the “Option Shares”). The number of shares subject to this Option to Purchase shall be adjusted for any stock splits, stock dividend or other issuance or redemption of shares by the Company. This Option shall not be treated as an incentive stock option within the meaning of Section 422A(b) of the Internal Revenue Code of 1986, as amended (the “Code”).
Grant of Option to Purchase. For good and valuable consideration, on and as of the Grant Date hereof, the Company irrevocably grants to the Optionee, subject to Section 2.4, an Option to Purchase any part or all of an aggregate of shares of its $.001 par value Class A Common Stock as indicated in the Certificate of Stock Option Grant upon the terms and conditions set forth in this Agreement.
Grant of Option to Purchase. On and subject to the terms and conditions set forth in this Option, Sellers hereby grant to Buyer, and Buyer hereby acquire and accepts from Sellers, the option to purchase the Controlling Interest from Sellers (the “Purchase Option”). Buyer may assign or transfer the Purchase Option to any Affiliate (as defined below) of Buyer without the consent of, or notice to, Seller. Subject to the provisions in this Option, title to, and all rights (voting, economic, and otherwise) with respect to, the Controlling Interest shall remain with Sellers unless and until Buyer exercises the Purchase Option pursuant to this Option. For purposes of this Agreement, an “Affiliate” means any other person or entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such person or entity, where the term “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting securities, by contract or otherwise.
Grant of Option to Purchase. Landlord hereby grants to Tenant an option to purchase the Premises upon all of the terms, covenants and conditions set forth in this Article 18 (the “Option to Purchase”).
Grant of Option to Purchase. The Special General Partner hereby grants to the Partnership the right and option to purchase from the Special General Partner, from time to time and at any time during the Exercise Period, at the Option Price, some or all of the Units held by the Special General Partner.
Grant of Option to Purchase. 3.1 Subject to Section 4.1 the Optionor hereby grants to the Optionee the exclusive and irrevocable option (the “Option”) to acquire, free of all liens, charges, encumbrances, claims or rights of others, an undivided 50% right, title and interest in and to the Licenses, exercisable by the Optionee:
(a) incurring exploration expense of at least $200,000 Cdn. on the Licenses by December 1, 2004;
(b) incurring exploration expense of at least $330,000 Cdn. In aggregate on the Licenses by February 1, 2005;
(c) incurring exploration expense of at least $1,000,000 in aggregate on the Licenses by December 31, 2005; and
(d) incurring exploration expense of at least $2,000,000 in aggregate on the Licenses by July 1, 2006.
Grant of Option to Purchase. Daem hereby grants to the Optionee the sole and exclusive right and option, subject to the terms of this Agreement, to acquire the entire right, title and interest in the Dalhousie Claim, free and clear of all claims, liens, charges and encumbrances, save and except for those set out herein, on the following terms and conditions, namely:
1) the Optionee shall pay $10,000 USD to Daem within ninety days of the date of this Agreement.
2) the optionee shall, as soon as practical, forward split the shares of Wizbang Technologies Inc. on a two for one basis and Mike Frankenberger will cancex xxxxxxxxxxx xxares to leave 10.1 million shares issued and outstanding.
a) the Optionee shall issue 200,000 post split fully paid and non-assessable shares in its capital stock to Daem, as follows:
b) 100,000 post split shares will be issued within ninety days of the date of this Agreement
3) a further 100,000 post split shares on the beginning of any exploration program which the Optionee carries out on the Dalhousie Claim.
4) Daem agrees to be retained by Optionee for the purpose of using his Free Miner's Certificate for a period of no less than two years.
5) the Optionee shall also allot and issue 300,000 fully paid and non-assessable post split shares (adjusted for any future share splits or dividends) in its capital stock to Daem, upon the Dalhousie Claim being put into Commercial Production under the following terms and conditions:
a) If Wizsbang Technologies Inc. is acquired by a publicly traded company the shares of Wizsbang Technologies Inc. will be paid as outlined above prior to the completion of the acquisition.
b) If the Dalhousie Claim is sold to a Public or Privately held company Daem shall receive a 4% (four percent) Net Smelter Royalty payment on all ore produced from the Dalhousie Claim. The Net Smelter Royalty shall become payable following the commencement of Commercial Production. The Net Smelter Royalty, if any payable for each quarter year shall be paid within sixty (60) days after the end of the quarter year to which the royalty relates, accompanied by a statement of the Net Smelter Returns for the quarter year in question. The balance, if any, of the Net Smelter Royalty payable for a full year shall be paid within ninety (90) days after the end of such year, accompanied by a statement of the Net Smelter Return for such year, duly certified by the Optionee's auditor.
c) All remaining terms and conditions in this agreement will remain in force and be c...
Grant of Option to Purchase. The Legends Group hereby grants to the Company separate rights to elect to acquire one or more of the Future Courses, separately or together, from time to time or at any time during the Option Term, by giving written notice (the "Option Notice") to The Legends Group at any time on or after the Option Term Commencement (as hereinafter defined) with respect to each property, on all of the following terms and conditions (the "Option"):
Grant of Option to Purchase. (a) In consideration of the Option Fee, the Optionor hereby grants to the Optionee an exclusive, irrevocable option to purchase the Property, upon the terms and conditions set out in this Agreement.
(b) The Option hereby granted shall be exercisable by the Optionee by Notice given to the Optionor at any time on or before [[insert date](being 5 years from the execution date of this Agreement)] (the “Expiry Date”).
(c) If the Optionee exercises the Option as aforesaid on or before the Expiry Date, thereupon there shall be constituted a binding agreement of purchase and sale between the Optionor, as the vendor, and the Optionee, as purchaser, pursuant to which the Optionor shall sell the Property to the Optionee for the purchase price and upon the other terms and conditions set out in the Purchase Agreement.
(d) If the Optionee does not exercise the Option on or before the Expiry Date, the Option shall be null and void, this Agreement shall be terminated and neither party shall have any further obligation to the other hereunder, save only for any obligations which, according to the express terms of this Agreement, survive termination.
Grant of Option to Purchase. The Supplier irrevocably grants to the Department an option to purchase the Contracted Quantity during the Term (Purchase Option). The Department may exercise the Purchase Option in relation to all of the Contracted Quantity, or in relation to such amount of the Contracted Quantity as the Department notifies to the Supplier on one or more occasions in accordance with clause 7. The Supplier irrevocably grants to the Department an option to release the Supplier from its obligation under this Agreement to reserve the Contracted Quantity for the Department during the Term (Release Option). The Department may exercise the Release Option in relation to all of the Contracted Quantity, or in relation to such amount of the Contracted Quantity as the Department notifies to the Supplier on one or more occasions in accordance with clause 8. On and from the date of release, the relevant stocks will become part of the Supplier’s commercial stocks to be dealt with at the Supplier’s discretion and may become available to either the local or international oil markets by virtue of the Supplier’s commercial activities. For the avoidance of doubt, the Department has no obligation in relation to any stocks in respect of which the Department has exercised the Release Option, including any obligation to take delivery, market, or pay any amount. The Department may exercise the Purchase Option or the Release Option at any time during the Term if Australia’s obligations under the IEP Agreement or CERM Decision, to implement emergency measures (taking the form of collective action specified in the IEP Agreement or CERM Decision) to deal with a reduction or threatened reduction of petroleum supplies, have been activated.
