OPTION OF DHS Sample Clauses

OPTION OF DHS. If the holders of Convertible Preferred Stock do not accept the Management Stockholder's Third Offer to purchase all of the shares of Available Management Offered Stock within the period of fifteen (15) days provided above in Section 5(c)(iii), then the selling Management Stockholder, immediately thereafter, shall be deemed to have made an offer (the "FINAL MANAGEMENT STOCKHOLDER'S OFFER") to sell all of the remaining shares of the Available Management Offered Stock (the "FINAL MANAGEMENT OFFERED STOCK") to DHS at the price and upon the terms provided in the Management Stockholder's Offer. DHS shall have the option, for a period of fifteen (15) days after the earlier to occur of (i) expiration of the fifteen (15) day period provided in Section 5(c)(iii), or (ii) notification by all of the holders of Convertible Preferred Stock to DHS to the effect that the holders of Convertible Preferred Stock have elected to purchase less than all of the shares of Available Management Offered Stock as provided in Section 5(c)(iii), to purchase all or some of the Final Management Offered Stock, upon written notification to the selling Management Stockholder, at the price and upon the terms provided in the Management Stockholder's Offer.
Sample 1
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OPTION OF DHS. If the Other Stockholders do not accept the Class B Common Stockholder's Offer to purchase all of the shares of Class B Common Offered Stock within the period of thirty (30) days provided above in Section 5(d)(i), then the holders of Class B Common Stock, immediately thereafter, shall be deemed to have made an offer (the "FINAL CLASS B COMMON STOCK OFFER") to sell all of the remaining shares of the Class B Common Offered Stock (the "REMAINING CLASS B COMMON OFFERED STOCK") to DHS at the price and upon the terms provided in the Class B Common Stockholder's Offer. DHS shall have the option, for a period of fifteen (15) days after the earlier to occur of (i) expiration of the thirty (30) day period provided in Section 5(d)(i), or (ii) notification by all of the Other Stockholders to DHS to the effect that the Other Stockholders have elected to purchase less than all of the shares of Class B Common Offered Stock as provided in Section 5(d)(i), to purchase all of the Remaining Class B Common Offered Stock, upon written notification to such holder of Class B Common Stock, at the price and upon the terms provided in the Class B Common Stockholder's Offer.
Sample 1
OPTION OF DHS. Except as otherwise herein provided, each holder of Convertible Preferred Stock shall have the right to receive a bona fide offer to purchase (which it is willing to accept) (a "CONVERTIBLE PREFERRED STOCK OFFER"), from any independent third person capable of consummating such a sale, any or all of its shares of Convertible Preferred Stock (the "PREFERRED OFFERED STOCK"). Before accepting a Convertible Preferred Stock Offer, the holder of Convertible Preferred Stock shall first offer in writing (the "CONVERTIBLE PREFERRED STOCKHOLDER'S Offer") to sell the Preferred Offered Stock to DHS at the price and on the terms on which the holder of Convertible Preferred Stock proposes to transfer the Preferred Offered Stock to the proposed third party transferee. The Convertible Preferred Stockholder's Offer shall set forth (A) the number of shares of the Preferred Offered Stock, (B) the name and address of the proposed transferee, (C) the amount of consideration to be received by the holder of Convertible Preferred Stock, and (D) the method of proposed payment. DHS shall have the option to acquire all, but not less than all, of the shares of Preferred Offered Stock at the price and upon the terms provided in the Convertible Preferred Stockholder's Offer. DHS shall have the right to exercise its option to purchase the Preferred Offered Stock, for a period of thirty (30) days following its receipt of the Convertible Preferred Stockholder's Offer, by notifying all of the holders of Convertible Preferred Stock in writing of its intention to purchase at Closing (as defined in Section 7(e) hereof) all or any shares of the Preferred Offered Stock.
Sample 1

Related to OPTION OF DHS

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Terms of the Option In order to maintain the Option in good standing and earn a 100% right, title and undivided interest in and to the Property, the Optionee, subject to paragraph 2, shall:

  • Exercise of Stock Option (a) The Optionee may exercise this Option only in the following manner: from time to time on or prior to the Expiration Date of this Option, the Optionee may give written notice to the Board of Directors or its authorized committee (the “Administrator”) of his or her election to purchase some or all of the vested Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased. Payment of the Stock Option purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) in the form of shares of Stock that are not then subject to restrictions under any Company plan and that have been held by the Optionee for at least six months prior to the exercise date; or (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Administrator to pay the Stock Option purchase price, provided that in the event the Optionee chooses to pay the Stock Option purchase price as so provided in this subsection (iii), the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure. Payment instruments will be received subject to collection. The delivery of certificates representing the Option Shares will be contingent upon the Company’s receipt from the Optionee of full payment for the Option Shares, as set forth above and any agreement, statement or other evidence that the Administrator may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Exercise Terms The Optionee must exercise the Option for at least the lesser of 100 shares or the number of shares of Stock as to which the Option remains unexercised but exercisable. If this Option is not exercised with respect to all or any part of the shares subject to this Option prior to its expiration, the shares with respect to which this Option was not exercised shall no longer be subject to this Option.

  • Expiration of Warrant This Warrant shall expire on the five (5) year anniversary of the Base Date (the “Expiration Date”).

  • 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.

  • Termination of the Option The Option shall terminate and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or (c) a Change in Control to the extent provided in Section 8.

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

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