Option Exercise Production Payment Sample Clauses

Option Exercise Production Payment. HSR hereby grants to WGI a production payment interest in and to the production of Subject Hydrocarbons (including, but not limited to, any Subject Hydrocarbons resulting from hydraulic fracture restimulation of the Wells) from the Leases, such xxxx, commencing with the calendar quarter which includes the Option Effective Date, HSR shall make payments to WGI within sixty (60) days following the end of each calendar quarter in an amount equal to $0.8385 of each dollar of tax credits available to HSR under Section 29 of the Internal Revenue Code of 1986, as amended (the "Code") as a result of the sale of Subject Hydrocarbons produced from the Wells during such calendar quxxxxx (determined without regard to limitations on HSR's use of the credits imposed by Section 29(b)(6) of the Code and without regard to whether HSR has sufficient income to actually use such credits or in fact actually utilizes such credits), through that calendar quarter which ends on December 31, 2002 (the "Option Exercise Production Payment"). Payments from HSR to WGI under the Option Exercise Production Payment shall be limited to and made only from the proceeds of production from the Subject Hydrocarbons. HSR shall have no obligation to make payments to WGI on any tax credits which may be available to HSR after December 31, 2002, even if the provisions of Section 29 of the Code are extended beyond December 31, 2002. Payments on the Option Exercise Production Payment shall be computed and made by HSR to WGI in the same manner that WGI was required to make payments to HSR under the Purchase Agreements. Any outstanding payment under the Option Exercise Production Payment which is due and owing shall bear interest at the rate of eighteen percent (18%) per annum, compounded daily, from the date the payment is due until the date the payment is received by WGI. The obligation to make payments on the Option Exercise Production Payment shall survive the Closing of this Agreement and shall continue until all of the payments due with respect to the production of Subject Hydrocarbons from the Option Effective Date through and until December 31, 2002 have been paid to and received by WGI. Upon receipt of all payments due under the Option Exercise Production Payment, WGI shall execute and deliver to HSR a recordable instrument evidencing satisfaction and termination of the Option Exercise Production Payment.
Sample 1
AutoNDA by SimpleDocs

Related to Option Exercise Production Payment

  • Option Exercise Price The per share price to be paid by Optionee in the event of an exercise of the Option will be $ .

  • Stock Option Exercise Agreement To exercise this Option, Participant (or in the case of exercise after Participant’s death or incapacity, Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as may be approved by the Committee from time to time (the “Exercise Agreement”), which shall set forth, inter alia, (i) Participant’s election to exercise the Option, (ii) the number of Shares being purchased, (iii) any restrictions imposed on the Shares and (iv) any representations, warranties and agreements regarding Participant’s investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone other than Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option and such person shall be subject to all of the restrictions contained herein as if such person were the Participant.

  • Option Exercise To exercise its option to purchase the Option Aircraft, Buyer shall give written notice thereof to Boeing on or before the first business day of the month in each Option Exercise Date shown below:

  • Payment of Exercise Price In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in accordance with the terms of the Warrant.

  • Exercise Price The exercise price per share of Common Stock under this Warrant shall be $_____, subject to adjustment hereunder (the “Exercise Price”).

  • Initial and Adjusted Exercise Price Except as otherwise provided in Section 8 hereof, the initial exercise price of each Warrant shall be $____ [120% of the initial public offering price] per share of Common Stock. The adjusted exercise price shall be the price which shall result from time to time from any and all adjustments of the initial exercise price in accordance with the provisions of Section 8 hereof.

  • Adjustments in Exercise Price Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter.

  • Warrant Exercise Price 1.1 Each Warrant shall entitle the Warrant Holder the right to purchase one share of Common Stock of the Company (individually, a "Warrant Share" severally, the "Warrant Shares"). 1.2 The purchase price payable upon exercise of each Warrant ("Exercise Price") shall be $.

  • Payment of Warrant Exercise Price The holder has paid in connection with this exercise the sum of $ to the Company in accordance with the terms of the Warrant.

  • Option Price The Option price is $_______ for each Share, being 100% of the fair market value, as determined by the Committee, of the Common Stock on the date of grant of this Option.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!