Common use of Option Notes Clause in Contracts

Option Notes. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase the Option Notes at the same price to be paid for the Initial Notes (without giving effect to any accrued interest from the Closing Time to the relevant Date of Delivery, as defined below). The option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time upon notice by the Representative to the Company setting forth the aggregate principal amount of Option Notes as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Notes. Any such time and date of delivery (a “Date of Delivery”) shall be determined by Xxxxx Xxxxxxxx, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Option Notes, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Option Notes then being purchased which the aggregate principal amount of Initial Notes set forth in Schedule A opposite the name of such Underwriter bears to the aggregate principal amount of Initial Notes, subject, in each case, to such adjustments as Xxxxx Xxxxxxxx in its sole discretion shall make as to be only in multiplies of $25.

Option Notes. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the UnderwritersUnderwriters to purchase, severally and not jointly, up to purchase the an additional $25,000,000 aggregate principal amount of Option Notes Notes, at the same price to be paid for the Initial Notes (without giving effect to any accrued interest from the Closing Time to the relevant Date of Delivery, as defined below). set forth in Schedule B. The option hereby granted may be exercised for will expire 30 days after the date hereof and may be exercised in whole or in part at any time from time to time upon notice by the Representative Representatives to the Company setting forth the aggregate principal amount of Option Notes as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Notes. Any such time and date of delivery (a “Date of Delivery”) shall be determined by Xxxxx Xxxxxxxxthe Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing TimeTime (as defined below) and, provided, that the Option Notes will be part of the same issue as the Initial Notes under Treasury Regulations section 1.1275-1(f) or 1.1275-2(k). If the option is exercised as to all or any portion of the Option Notes, each of the UnderwritersUnderwriters will purchase, acting severally and not jointly, will purchase that proportion of the total aggregate principal amount of Option Notes then being purchased which the aggregate principal amount of Initial Notes set forth in Schedule A opposite the name of such Underwriter bears to the total aggregate principal amount of Initial Notes, subject, in each case, to such adjustments as Xxxxx Xxxxxxxx in its sole discretion shall make as to be only in multiplies of $25.

Option Notes. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase the Option Notes at the same price to be paid for the Initial Notes (without giving effect to any accrued interest from the Closing Time to the relevant Date of Delivery, as defined below). The option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time upon notice by the Representative Representatives to the Company setting forth the aggregate principal amount of Option Notes as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Notes. Any such time and date of delivery (a “Date of Delivery”) shall be determined by Xxxxx Xxxxxxxx, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Option Notes, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the aggregate principal amount of Option Notes then being purchased which the aggregate principal amount of Initial Notes set forth in Schedule A opposite the name of such Underwriter bears to the aggregate principal amount of Initial Notes, subject, in each case, to such adjustments as Xxxxx Xxxxxxxx in its sole discretion shall make as to be only in multiplies of $25.

Option Notes. In addition, on upon the basis of the representations and warranties herein contained and subject to the other terms and conditions herein set forth, at the purchase price equal to 97% of their principal amount, the Company hereby grants an option to the Underwriters, acting severally and not jointly, to purchase from the Company, all or any part of the Option Notes, plus any additional principal amount of Option Notes at in the same price proportion which such Underwriter may become obligated to be paid for the Initial Notes (without giving effect to any accrued interest from the Closing Time purchase pursuant to the relevant Date provisions of Delivery, as defined below)Section 9 hereof. The option hereby granted may be exercised for will expire 30 days after the date hereof and may be exercised in whole or in part at any time from time to time within such 30-day period upon notice by the Representative Representatives to the Company setting forth the aggregate principal amount of Option Notes as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Notes. Any such time and date of delivery (a an “Date of DeliveryOption Closing Time”) shall be determined by Xxxxx Xxxxxxxxthe Representatives, but shall not be later than seven five full business days (or earlier, without the consent of the Company, than two full business days) after the exercise of said such option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Notes, each of the Underwriters, acting severally and not jointly, will purchase that proportion its proportionate share of the aggregate principal amount of Option Notes then being purchased which based on its proportionate share of the aggregate principal amount of Initial Notes set forth in Schedule A I opposite the name of such Underwriter bears to the aggregate principal amount of Initial NotesUnderwriter, subject, subject in each case, to such adjustments among the Underwriters as Xxxxx Xxxxxxxx the Representatives in its sole discretion shall make as to be only eliminate any sales or purchases of the Option Notes in multiplies of denominations other than $2525.00.