Option for Sanctions Sample Clauses

Option for Sanctions. The Contracting Party shall not terminate this Agreement and shall propose to ANP the imposition of the sanctions indicated in Section Thirty-One when:
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Option for Sanctions. The Contracting Party shall not terminate this Agreement and shall propose to ANP the imposition of the sanctions indicated in Section Thirty-One when: failure by the Consortium Members to comply with this Agreement is not severe or reiterated or does not show willful misconduct or fault, at the Contracting Party’s discretion, based on ANP’s opinion; or occurrence of a diligent action as to cure the default is confirmed. The obligations undertaken in this Agreement shall only be released in the events of acts of God, force majeure, and similar causes that justify non-performance, such as administrative action or omission, factum principis, and unexpected disruptions. Exemption from the obligations shall be exclusively related to the obligations in this Agreement which performance becomes impossible due to acts of God, force majeure, or similar causes, acknowledged by the Contracting Party, based on ANP’s opinion. The Contracting Party’s decision, based on ANP’s opinion, acknowledging the occurrence of acts of God, force majeure, or similar causes shall indicate the portion of this Agreement which performance shall be dismissed or postponed. Acknowledgement of acts of God, force majeure, or similar causes does not exempt the Contractor from payment of the Government Revenue. Notification of events that may be considered an act of God, force majeure, or similar cause shall be immediate and shall specify such circumstances, its causes and consequences. Cessation of the events shall be equally notified.
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Option for Sanctions. ANP will not resolve this Contract and apply the penalties indicated in paragraphs 29.1 2.1 to 29.
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Option for Sanctions. The Contractor will not resolve this Contract and shall propose to ANP the application of the sanctions listed in Thirty First Clause - Relative Default and Penalties when: The non-fulfillment of this Contract by the Consortium Members, at the discretion of the Contractor, after ANP is heard, is not serious, or repeated, or developer of usual deceit, incompetence, recklessness or negligence, or It is observed there was diligent action in order to correct the noncompliance. The Parties will only no longer meet the obligations of this Contract in the chances of unforeseen circumstances, force majeure and similar causes to justify the failure, as the fact of the administration, the fact of the prince and the unforeseen interferences. The exemption of the obligations of the debtor Consortium Members will take place only with regards to the obligations of this contract whose default becomes impossible because of the incidence of unforeseeable circumstances, force majeure or similar causes, recognized by the Contractor after ANP is heard. The decision of the Contractor, after ANP is heard, that recognizes the occurrence of unforeseeable circumstances, force majeure or similar causes shall indicate the portion of the contract whose default will be postponed or delayed. The recognition of the incidence of unforeseeable circumstances, force majeure or similar causes does not exempt the Contracted Party from the payment of Governmental Revenues. In the case of events that might be considered unforeseeable circumstances, force majeure or similar causes, the affected Party shall notify the other Party immediately, formally and in writing, specifying such circumstances, its causes and consequences. The assignment of the events should be similarly notified.
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Option for Sanctions. The Contractor will not resolve this Contract and shall propose to ANP the application of the sanctions listed in Thirty First Clause - Relative Default and Penalties when: The non-fulfillment of this Contract by the Consortium Members, at the discretion of the Contractor, after ANP is heard, is not serious, or repeated, or developer of usual deceit, incompetence, recklessness or negligence, or It is observed there was diligent action in order to correct the noncompliance.
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Option for Sanctions. The Contractor will not resolve this Contract and shall propose to ANP the application of the sanctions listed in Thirty First Clause - Relative Default and Penalties when:
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Option for Sanctions. 55 Extinction 55 Total or Partial Exemption 56 Modification and Termination of the Contract 56 Losses 57 Obligation of the Concessionaire 57 Commitments of ANP 58 Notifications, Requests, Plans, Programs, Reports and other Communications 58 Amendments to the Acts of Incorporation 59 Applicable Law 59 Conciliation 59 Arbitration 59 Forum 60 Execution of the Contract 60 Justifications 60 Continued Application 61 Modifications and Amendments 61 Titles 61 Disclosing 61 Annex I – Concession Area 63 Annex II - Minimum Exploratory Program 64 Annex III - Financial Guarantee for the Minimum Exploratory Program 66 Annex IV - Performance Guarantee 67 Annex V - Governmental and Third Parties Holdings 68 Annex VI - Payment of Signature Bonus 69 Annex VII - Designation of Operator 70 Anexo VIII – Address 71 Annex IX - Commitment to Local Content 72
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Option for Sanctions. 60 Extinction 60 30 Clause Thirty Unforeseeable Circumstances, Force Majeure and Similar Causes 60 Total or Partial Exemption 60 Modification and Termination of the Contract 61 Losses 61 31 Clause Thirty One Confidentiality 62 Obligation of the Concessionaire 62 Commitments of ANP 63 32 Clause Thirty Two Notifications, Requests, Notices and Reports 63 Notifications, Requests, Plans, Programs, Reports and other Communications 63 Amendments to the Acts of Incorporation 63 33 Clause Thirty Three Legal Regime 64 Applicable Law 64 Conciliation 64 Arbitration 64 Forum 65 Execution of the Contract 65 Justifications 65 Continued Application 65 34 Clause ThirtyFour Final Provisions 66 Modifications and Amendments 66 Titles 66 Disclosing 66 Annex I – Concession Area 68 Annex II - Minimum Exploratory Program 69 Annex III - Financial Guarantee for the Minimum Exploratory Program 71 Annex IV - Performance Guarantee 72 Annex V - Governmental and Third Parties Holdings 73 Annex VI - Payment of Signature Bonus 74 Annex VII - Designation of Operator 75 Anexo VIII – Address 76 Annex IX - Commitment to Local Content 77 Annex X- General Instructions of the Exploration Plan and Evaluation Plan of Non-Conventional Resources 78 Annex XI - Minimum Requirements for Technical, Economic, Financial and Legal Qualification of the company for exploration and production of non-conventional resources 85
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Related to Option for Sanctions

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • NOTICE OF STOCK OPTION GRANT Name: Address:

  • Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

  • Additional Terms Applicable to an Incentive Option In the event this option is designated an Incentive Option in the Grant Notice, the following terms and conditions shall also apply to the grant: (i) This option shall cease to qualify for favorable tax treatment as an Incentive Option if (and to the extent) this option is exercised for one or more Option Shares: (A) more than three (3) months after the date Optionee ceases to be an Employee for any reason other than death or Permanent Disability or (B) more than twelve (12) months after the date Optionee ceases to be an Employee by reason of Permanent Disability. (ii) No installment under this option shall qualify for favorable tax treatment as an Incentive Option if (and to the extent) the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which such installment first becomes exercisable hereunder would, when added to the aggregate value (determined as of the respective date or dates of grant) of the Common Stock or other securities for which this option or any other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. Should such One Hundred Thousand Dollar ($100,000) limitation be exceeded in any calendar year, this option shall nevertheless become exercisable for the excess shares in such calendar year as a Non-Statutory Option. (iii) Should the exercisability of this option be accelerated upon a Change in Control, then this option shall qualify for favorable tax treatment as an Incentive Option only to the extent the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which this option first becomes exercisable in the calendar year in which the Change in Control occurs does not, when added to the aggregate value (determined as of the respective date or dates of grant) of the Common Stock or other securities for which this option or one or more other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. Should the applicable One Hundred Thousand Dollar ($100,000) limitation be exceeded in the calendar year of such Change in Control, the option may nevertheless be exercised for the excess shares in such calendar year as a Non-Statutory Option. (iv) Should Optionee hold, in addition to this option, one or more other options to purchase Common Stock which become exercisable for the first time in the same calendar year as this option, then the foregoing limitations on the exercisability of such options as Incentive Options shall be applied on the basis of the order in which such options are granted.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Incentive Stock Option If this Option qualifies as an ISO, the Optionee will have no regular federal income tax liability upon its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes and may subject the Optionee to alternative minimum tax in the year of exercise. In the event that the Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of the Optionee that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status.

  • Stock Option Grants Pursuant to the following terms and conditions, the Executive shall be eligible to participate in Holdings’ stock option plan and Holdings agrees as follows: i. Holdings shall establish a stock option plan (“Stock Option Plan”) providing for grants of options (the “Stock Options”) to purchase the common stock of BD Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive, selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2010 and January 1, 2011. ii. Beginning in January 2008, each annual Stock Option grant shall be made between the first and fifteenth business day of the year, unless the CEO, in his sole discretion, shall agree with the Board to a later date during such year (the “Default Date”). If the Board does not approve Stock Option grants in the amounts set forth in Section 4(c)(i) by the Default Date, then Stock Options in such amounts shall be granted pro-rata to existing option holders and employee stockholders as of such date of grant, except that the CEO’s share of such Stock Option grants shall be reduced by 75% and the other four most highly compensated executives’ share of such Stock Option grants shall be reduced by 50%. iii. The per share exercise price of each Stock Option shall be equal to the Fair Market Value of a share of Buyer Common Stock on the date of grant. Each Stock Option granted shall vest in five equal tranches on each of the first five anniversaries of the date of grant subject to the option holder’s continued employment as of each such vesting date; provided, however, that all Stock Options shall automatically vest in full upon a “change in control” (as defined in the Option Plan, it being understood that an IPO shall in no event constitute a change in control). Notwithstanding any provision of this Agreement to the contrary, following an IPO, no additional Stock Options shall be granted pursuant to the Stock Option Plan. iv. Upon termination of his employment, the portion of any Stock Option granted to the Executive which has not yet vested shall terminate. In the event the Executive’s employment terminates for any reason other than for Cause, the Executive may exercise any vested portion of any Stock Option held by him on the date of termination provided that he does so prior to the earlier of (A) ninety (90) days following termination of employment and (B) the expiration of the scheduled term of the Stock Option. Notwithstanding the foregoing, if the Executive’s employment is terminated due to death or disability (as defined in Section 5(b)), then the Executive or, as applicable in the event of death, his beneficiary or estate, may exercise any vested portion of any Stock Option held by the Executive on the date employment terminates for the shorter of (A) the period of twelve (12) months following the termination date and, (B) with respect to each Stock Option individually, the expiration of the scheduled term of such Stock Option. Upon a termination of the Executive’s employment by the Company for Cause, all Stock Options shall be forfeited immediately. v. Holdings, the Company and the Executive agree to cooperate to structure the Stock Option Plan so as to minimize or avoid additional taxes and interest that would otherwise be imposed on the Executive with respect to options granted under the Stock Option Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”); provided, however, that the Company shall have no obligation to grant the Executive a “gross-up” or other “make-whole” compensation for such purpose.

  • NSO If the Optionee holds NSO Shares for at least one year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes.

  • System for Award Management (XXX) Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a XXX.xxx proof of registration and Commercial and Government Entity (CAGE) number. Grantee will continue to maintain an active XXX registration with current information at all times during which it has an active award under this Agreement.

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