Grant of Option to Sell Sample Clauses

Grant of Option to Sell. The Partnership hereby grants to the Special General Partner the right and option to sell to the Partnership, from time to time and any time during the Exercise Period, at the Option Price, some or all of the Units held by the Special General Partner.
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Grant of Option to Sell. The Partnership grants to each Class A Limited Partner the right and option to sell to the Partnership, from time to time and at any time during the Exercise Period, at the Option Price, some or all of the Percentage Interest held by such Class A Limited Partner.
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Grant of Option to Sell. SHARES TO DEZIEL. L & L hereby grantx xx Xeziel the following options to xxxxxase 164,800 shares of the common stock of Shells Seafood that it owns: (a) an option to purchase 100,000 shares of Shells Seafood at a price of $6.00 per share (the "$6.00 Option"); and (b) an option to purchase 64,800 shares at a price of $12.00 per share (the "$12.00 Option"). Deziel shall, contemporaneously wxxx xxe execution of this Settlement Agreement, deliver to L & L $150,000, in attorney trust account funds, which shall be a nonrefundable payment for the grant of the options, which Deziel may credit against the xxxxxase price of the $12.00 Option, if Deziel exercises the $12.00 Oxxxxx. While the options may be separately exercised, each option must, if exercised, be exercised in whole, not in part. Each option is exercisable at any time prior to the close of business October 31, 1997, by Deziel delivering: (a) written noxxxx xo that effect to L & L; and (b) immediately available funds to Oppenheimer which are then madx xxxxxxxxxly available, without restriction (except that such funds shall be held in escrow until delivery of an updated Bush Ross Opinion and an additxxxxx xxxated representation letter of L & L), to L & L. If Deziel exercises the $12.00 Optxxx xx may credit the $150,000 payment against the purchase price of the shares underlying the $12.00 Option ($777,600), however, if the $12.00 Option is not timely exercised, Deziel shall forfeit the $150,000 xx X & L. Time is of the essence, and if the options are not timely exercised, L & L shall have no further obligation to Deziel. Provided that the xxxxicable option exercise price is received by Oppenheimer and then made immediaxxxx xxxxxxble to L & L, on or before the close of business October 31, 1997, L & L directs Oppenheimer to transfer to Deziex xxx xxxxxcable shares undexxxxxx the option that was exercised, which shares are being held in L & L's account at Oppenheimer, together with apprxxxxxxx xxock powers. L & L has today deposited with Oppenheimer stock powers for the xxxxxx xxxerlying each of the $6.00 Option and the $12.00 Option each with signature guaranteed. The Parties have jointly executed a letter of instruction to Oppenheimer as to the precise mecxxxxxx xx xuch delivery. The shares underlying the options shall contain a restrictive legend indicating that the shares are "restricted securities" as such term is defined in Rule 144, promulgated by the Securities and Exchange Commission pursuant to t...
Sample 1

Related to Grant of Option to Sell

  • 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.

  • Assignment of Option Except as otherwise permitted by the Committee, the rights of the Optionee under the Plan and this Agreement are personal; no assignment or transfer of the Optionee’s rights under and interest in this Option may be made by the Optionee otherwise than by will, by beneficiary designation, by the laws of descent and distribution or by a qualified domestic relations order; and this Option is exercisable during his lifetime only by the Optionee, except as otherwise expressly provided in this Agreement. After the death of the Optionee, exercise of the Option shall be permitted only by the Optionee’s designated beneficiary or, in the absence of a designated beneficiary, the Optionee’s executor or the personal representative of the Optionee’s estate (or by his assignee, in the event of a permitted assignment) to the extent that the Option is exercisable on or after the date of the Optionee’s death, as set forth in Sections 2(a) and 3(d) hereof.

  • 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; Conditions Tenant shall have the right (the “Extension Option”) to extend the Term for one (1) additional period of five (5) years beginning on the day immediately following the expiration date of the Lease and ending on the fifth anniversary of such expiration date (the “Extension Term”), if:

  • Option to Purchase Shares The Company hereby grants to the Optionee an Option (the “Option”), pursuant to the Plan, to purchase up to ________________ (___________) shares of the Company’s common stock (the “Stock”). The Option Price for each share of Stock shall be ____________________Dollars and ______________ Cents ($______), which is acknowledged to be 100% of the Fair Market Value of each share of Stock as of the date hereof. The Option shall be exercisable for the number of shares of Stock and during the specific exercise periods (“Exercise Period(s)”) set forth in the following table: Number of Shares Exercise Period _______________________ (___________) Shares ________________1 through ______________

  • 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.

  • Conditions to Purchase of Option Shares In the event that the Underwriters exercise their option provided in Section 3(b) hereof to purchase all or any portion of the Option Shares, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representative shall have received:

  • 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").

  • NOTICE OF STOCK OPTION GRANT Name: Address: You have been granted an option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Award Agreement, as follows: Grant Number Date of Grant Vesting Commencement Date Exercise Price per Share $ Total Number of Shares Granted Total Exercise Price $ Type of Option: Incentive Stock Option Nonstatutory Stock Option Term/Expiration Date:

  • Grant of Stock Option The Company grants to Employee the right and option (hereinafter referred to as the "Option") to purchase all or any part of up to ________ shares of the Company's Common Stock (the "Option Shares") on the terms and conditions set forth below and in the Plan.

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