Grant of Second Option. Provided that Tenant has exercised its First Option, Tenant shall have the option to extend the Term of this Lease for another five (5) year additional period (the "Second Option"); provided that Tenant is not in default under this Lease beyond any applicable notice and cure periods, at the time the Second Option is exercised, the First Option and the Second Option shall also be referred to herein separately as the "Option Term" and together as the "Option Terms".
Grant of Second Option. The Company hereby grants Continental an option (the "Second Option") to subscribe for issuance by the Company that number of fully-paid, non-assessable Ordinary Shares, such that following issuance of such shares Continental shall own sixty percent (60%) of the issued share capital of Company, on an as-converted basis, at the time of exercise (such Ordinary Shares the "Second Option Shares"
Grant of Second Option. On the First Option Exercise Date and upon and subject to the terms and conditions hereof, the Nubian Parties shall be deemed to have granted to Athena the sole, exclusive and irrevocable right and option to acquire an additional 90% Interest, for an aggregate 100% Interest (the "Second Option"), free and clear of all Encumbrances other than Permitted Encumbrances.
Grant of Second Option. On the First Option Exercise Date and upon and subject to the terms and conditions hereof, the Iconic Parties will immediately, and without any further action whatsoever be deemed to have granted to Nevada Lithium the sole, exclusive and irrevocable right and option to acquire an additional 15% Interest (for an aggregate 35% Interest) (the “Second Option”), free and clear of all Encumbrances (other than Permitted Encumbrances).
Grant of Second Option. (i) In consideration for the payment of the Option Fee (receipt of which is acknowledged by execution of this deed) by the Optionholder to the Shareholder, the Shareholder grants to the Optionholder an irrevocable right to purchase the Second Option Shares for the Initial Exercise Price in accordance with the terms of this deed (Second Option).
(ii) The Call Option confers on the Optionholder the right, but not the obligation, to give the Shareholder the Notice of Exercise of Call Option in respect of the Second Option Shares in accordance with clause 3.
Grant of Second Option. ADC does hereby grant to each Optionholder an option (the "Second Option") to sell the Shares to ADC.
Grant of Second Option. The members of the CSG Group hereby grant to Xxxxxx the sole and exclusive right and option, in accordance with the other provisions of this Article 5, on or before the 5th anniversary of the Second Option Commencement Date (“Second Option Deadline”), to acquire an additional 26% Earned Interest, for an aggregate 75% Earned Interest, free and clear of all Encumbrances except the Existing Royalties (“Second Option”).
Grant of Second Option. Subject to the satisfaction of the Second Option Conditions (or Seabridge waiving such conditions in writing), Seabridge hereby grants to Royal Gold an irrevocable option (the “Second Option”) to increase the Royalty Percentage by 0.75 percent (that is, to a total Royalty Percentage of two (2) percent), which option Royal Gold may exercise, in its sole discretion, as follows:
Grant of Second Option. 13 1.2 Option Payment...............................................................................13
Grant of Second Option. For and in consideration of LIG's payment of the Option Payment pursuant to Article 1.2 and LIG's execution of the Amended Loan Agreement, the Second R&D Agreement, and the Second Supply Agreement, Phoenix grants LIG an option to purchase substantially all of the Assets and Business of Phoenix, and to assume substantially all of the Liabilities of Phoenix, upon the terms and conditions set out in this Agreement (the "Second Option").
