OPTION AND EXERCISE Sample Clauses

OPTION AND EXERCISE. 1.01 Provided that the Optionee is not in default of any of its obligations under the Original Agreement and this Amendment or under the Related Agreements and their Amendments, then the Optionee shall have the option to purchase the Remaining Shares from the Optionor on or before December 1, 2012 in consideration of a payment of Ten Million Four Hundred Thousand ($10,400,000) Dollars and the issue of Fifty Thousand (50,000) Shares in Xxxxxxx Star Resources Inc. to the Optionor at which time the Remaining Shares shall be transferred and delivered by the Optionor to the Optionee (the "Closing") free and clear of all encumbrances.
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OPTION AND EXERCISE. 2.01 The Optionors hereby grant to the Optionee options to acquire 100% of the issued and outstanding shares in the capital stock of Xxxxxxx (the "Option") in consideration of payment of One ($1.00) Dollar.
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OPTION AND EXERCISE. If the second (2nd) or third (3rd) floor of the Building (each, an "Expansion Floor") shall become available for subletting at any time during the Term, then provided that Subtenant is not in default and is occupying at least seventy-five percent (75%) of the Subleased Premises, Subtenant shall have a right of first opportunity to sublease the entire such Expansion Floor (but not less than the entire such Expansion Floor) for the then-remaining Term of this Sublease, upon the same terms, covenants and conditions as set forth in this Sublease with respect to the Subleased Premises, except that (i) the Rent Commencement Date for the Expansion Floor shall be the date on which Sublandlord delivers possession of the Subleased Premises to Subtenant in its "as is" condition, and (ii) there shall be no Improvement Allowance with respect to the Expansion Floor, and (iii) the Base Rental payable for the Expansion Floor shall be determined in accordance with Paragraph 24(b). Sublandlord shall give Subtenant not less than twelve (12) months written notice of the date on which Sublandlord anticipates that the Expansion Floor will be available for occupancy by a subtenant (the "Anticipated Occupancy Date"). Subtenant may then exercise its right of first opportunity by giving written notice of the exercise to Sublandlord within thirty (30) days after the date of Landlord's notice. A failure by Subtenant to respond within said thirty (30) day period shall totally extinguish Subtenant's right of first opportunity to sublease the Expansion Floor. The right of first opportunity granted hereby may not be assigned or transferred by Subtenant.
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OPTION AND EXERCISE. Tenant shall have two (2) consecutive option(s) (each a “Renewal Option”) to renew and extend the Term of this Lease with respect to all (but not less than all) of the Premises demised under or pursuant to this Lease for an additional term (each a “Renewal Term”) of five (5) years each. The first Renewal Term commencing on the day immediately following the Expiration Date of the initial Term, and the second Renewal Term commencing on the day immediately following the expiration of the first Renewal Term, under the following terms and conditions:
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OPTION AND EXERCISE 
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Related to OPTION AND EXERCISE

  • Vesting and Exercise of Option The Option shall vest and become exercisable during its term in accordance with the following provisions:

  • Term and Exercise The Option shall expire five (5) years from the date hereof, subject to earlier termination as set forth in Section 3. Subject to the provisions of Section 3, the Option shall become exercisable in installments as set forth on the attached Face Sheet of this Agreement.

  • Vesting and Exercise Once vested, this Warrant may be exercised as -------------------- to such vested portion whether or not at the time of such exercise the Warrantholder is an employee of (or consultant to) the Company (or one or more of its subsidiaries); however, this Warrant shall automatically terminate as to any unvested portion at any such time as the Warrantholder is no longer employed by (or a consultant to) the Company (or any of its subsidiaries). If this Warrant is not exercised prior to 5:00 P.M. on the Expiration Date (or the next succeeding Business Day, if the Expiration Date is a Nonbusiness Day), this Warrant, or any new Warrant issued pursuant to Section 1.1, shall cease to be exercisable and shall become void and all rights of the Warrantholder hereunder shall cease. This Warrant shall not be exercisable, and no Warrant Shares shall be issued hereunder, prior to 9:00 A.M., New York City time, on the applicable Exercise Date.

  • Duration and Exercise of Warrant Subject to the terms and conditions set forth herein, the Warrant may be exercised, in whole or in part, by the Warrantholder by:

  • Grant and Exercise of Option Provided that (i) no default has occurred and is then continuing (ii) the creditworthiness of Tenant is then reasonably acceptable to Landlord and (iii) Tenant originally named herein or a Permitted Transferee remains in possession of and has been continuously operating in the entire Leased Premises throughout the term immediately preceding the Extension Term (as defined below), Tenant shall have the option to extend the Lease Term for two (2) additional periods of five (5) years each (the “Extension Term(s)”). Each Extension Term shall be upon the same terms and conditions contained in the Lease except (x) this provision giving two (2) extension options shall be amended to reflect the remaining options to extend, if any, and (y) any improvement allowances or other concessions applicable to the Leased Premises under the Lease shall not apply to the Extension Term, and (z) the Minimum Annual Rent shall be adjusted as set forth below (the “Rent Adjustment”). Tenant shall exercise each option by (i) delivering to Landlord, no later than six (6) months prior to the expiration of the preceding term, written notice of Tenant’s desire to extend the Lease Term. Tenant’s failure to timely exercise such option shall be deemed a waiver of such option and any succeeding option. Landlord shall notify Tenant of the amount of the Rent Adjustment no later than ninety (90) days prior to the commencement of the Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within five (5) business days after receipt thereof. If Tenant properly exercises its option to extend, Landlord and Tenant shall execute an amendment to the Lease (or, at Landlord’s option, a new lease on the form then in use for the Building) reflecting the terms and conditions of the Extension Term within thirty (30) days after Tenant’s acceptance (or deemed acceptance) of the Rent Adjustment.

  • Term and Exercise of Option (a) The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein.

  • Duration and Exercise of Warrants (a) This Warrant shall be exercisable by the registered Holder on any business day before 6:30 P.M., New York City time, at any time and from time to time on or after the date hereof to and including the Expiration Date. At 6:30 P.M., New York City time on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value. Prior to the Expiration Date, the Company may not call or otherwise redeem this Warrant without the prior written consent of the Holder.

  • Right to Exercise Option 3.1 The right to exercise the Option shall terminate forthwith upon the Employee ceasing to be an employee of a Group Company except in the following cases:

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Duration and Exercisability A. This option may not be exercised by Employee until the expiration of two (2) years from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first two years from the date of grant of this option, no portion of this option may be exercised. Thereafter this option shall become exercisable in four cumulative installments of 25% as follows: Total Portion of Option Date Which is Exercisable ---- -------------------- Two Years after Date of Grant 25% Three Years after Date of Grant 50% Four Years after Date of Grant 75% Five Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she is entitled under this option, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option.

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