Option Payments. As of the Amendment No. 7 Effective Date, Xxxxxx agrees to pay Owner, when due, the Lease Option Payments as set forth in Recital D, including reimbursement of any late fees charged by the Landowner under the Parcels No. 3 and 4 Land Purchase Option Agreement caused solely by any late payment by Tenant to Owner of the Lease Option Payments when due, and Owner agrees to accept these payments as payment-in-full for the Lease Option Payments and further agrees to make timely payments to the Landowner under the Parcels No. 3 and 4 Land Purchase Option Agreement following payments by Tenant.
Option Payments. As of the Amendment No. 9 Effective Date, Tenant agrees to pay Owner, when due, the Lease Option Payments, including reimbursement of any late fees charged by the Landowners under any of the Land Purchase Option Agreements caused solely by any late payment by Tenant to Owner of the Lease Option Payments when due, and Owner agrees to accept these payments as payment-in-full for the Lease Option Payments and further agrees to make timely payments to the Landowners under the Land Purchase Option Agreements following payments by Tenant.
Option Payments. (i) Within two (2) Business Days after the Opening of Escrow, Optionee shall deposit with Escrow Holder the First Option Payment in immediately available funds. If Optionee terminates, or is deemed to have terminated, this Agreement at any time prior to the Option Acceptance Date in accordance with the terms of Section 4(a)(ii) hereof, then the First Option Payment shall be refunded to Optionee without necessity of any instruction from Optionors. If Optionee rejects, or is deemed to have rejected, one or more Eligible Properties during the Feasibility Period in accordance with the terms of Section 4(a)(ii) hereof, then the Project First Option Payment (or Project First Option Payments) applicable to such Eligible Property (or Eligible Properties) shall be refunded to Optionee without necessity of any instruction from Optionors.
(ii) On the Option Acceptance Date, Optionee shall deposit with Escrow Holder the Second Option Payment in immediately available funds. From and after the Option Acceptance Date, at such time as a Property Under Contract becomes a Converted Property, Optionee shall deposit with Escrow Holder the Project Second Option Payment for such Converted Property in immediately available funds, and such Project Second Option Payment shall thereafter be treated as part of the Second Option Payment. Upon receipt of the Second Option Payment (whether on the Option Acceptance Date or at such time as a Property Under Contract becomes a Converted Property), Escrow Holder shall promptly disburse to each Optionor the applicable Second Option Payment and the applicable First Option Payment (other than that portion of the First Option Payment that is refundable to Optionee in connection with Optionee’s rejection of an Eligible Property in accordance with the terms of this Agreement), and such disbursed amount shall be nonrefundable, except as provided below.
(iii) At Closing, the Option Payments previously distributed to Optionors shall be credited against the Option Price.
(iv) The Option Payments disbursed to an Optionor in accordance with the terms of this Agreement shall be immediately returned by such Optionor to Optionee (a) in the event of such Optionor’s default under this Agreement, or (b) upon termination of this Agreement in accordance with the terms of Section 12 hereof.
Option Payments. GEC shall pay the City option payments of One Hundred Thousand and 00/100 Dollars ($100,000.00) per year (each, an “Option Payment” and, collectively, “Option Payments”) including for each extension term with respect to which GEC and the Tribe has exercised its rights. The first Option Payment shall be made by GEC within three (3) business days after the Effective Date. Provided this Option Agreement has not been previously terminated in accordance with the terms and provisions herein, additional Option Payments of One Hundred Thousand and 00/100 Dollars ($100,000.00) each shall be made by GEC no later than the first (1st) anniversary of the Effective Date and each subsequent anniversary thereof, until exercise or expiration of the Option Term.
Option Payments. The amounts payable by Celgene, if any, in connection with the exercise of an Option for a given Program shall be as set forth in Section 6.3.
Option Payments. Merck shall pay Tularik an exercise fee of [ * ] with respect to each Option Program as to which Merck exercises the Merck Option, at the time of each respective exercise and thereupon Tularik's rights with respect to Option Compounds within such Option Program shall be governed by Section 3.3(a).
Option Payments. In lieu of exercising or retaining any rights the Executive may have to exercise some or all of the outstanding stock options that he then holds (including any rights to exercise stock options that arise during the Term if he were to remain employed and including any that would otherwise terminate as result of his termination of employment), the Executive may elect within sixty (60) days after termination of employment to surrender such rights to the Company and receive in exchange therefor a cash payment equal to the aggregate difference, if positive, between (a) the "fair market value" (determined as of the date of termination using the higher of the "fair market value" (i) as defined in the terms of the applicable option plan or option agreement as of the date of termination and (ii) as defined in the plan or agreement on the date of grant) of the shares of common stock subject to the options and (b) the option prices of the shares subject to such surrendered options; and the Company shall make such payment within forty-five (45) days after the Executive notifies the Company of his election to surrender all or a portion of his options.
Option Payments. Simultaneously with the execution and delivery of this Agreement, the Buyer shall pay by wire-transfer to the Seller the amount of ONE MILLION DOLLARS ($1,000,000) as an option payment (the "Initial Option Payment") in consideration of the Seller's grant of the Buyer's Call Right. One-half (1/2) of the Initial Option Payment shall be applied to each Facility Purchase Price payable by the Buyer with respect to the Buyer's acquisition of the Seller's interest in the last two (2) Facilities (and the applicable portion of the Property relating thereto) to be acquired hereunder by the Buyer, either as a result of the Buyer's exercise of its Call Right and/or the Seller's exercise of its Put Right (collectively, the "Last Facilities"). Within five (5) Business Days after the Seller has delivered to the Buyer a true and correct copy of the CO relating to any Facility, the Buyer shall pay by wire-transfer to the Seller an additional option payment of SIX HUNDRED THOUSAND DOLLARS ($600,000) (each, an "Additional Option Payment") as additional consideration for the Seller's grant of the Buyer's Call Right. An Additional Option Payment shall be applied to each Facility Purchase Price payable by the Buyer with respect to the Buyer's acquisition of the Seller's interest in any Facility (and the applicable portion of the Property relating thereto) or, if applicable, the Buyer's acquisition of all of the equity interests in the applicable Single Purpose Entity that owns or leases such Facility. Subject to the terms of Section 12, in the event that the Closing relating to any Facility is not consummated, due to a failure by the Seller to satisfy the Closing Conditions relating thereto, on or before the date (the "Outside Closing Date") that is earlier to occur of (a) the applicable Closing Date, as the same may be extended in accordance with the terms hereof or (b) the Termination Date, such Facility's Additional Option Payment shall be immediately refunded to the Buyer on the next Business Day thereafter and the Buyer's Call Right and the Seller's Put Right relating to such Facility (and the applicable portion of the Property related thereto) shall expire at 11:59 p.m. on the Outside Closing Date. Subject to the terms of Section 12, upon the next Business Day immediately after the Termination Date, if any Closing contemplated hereunder has not been consummated due to a failure by the Seller to satisfy the Closing Conditions relating thereto and, as a result, any portion ...
Option Payments. (a) Concurrent with the execution of this Agreement by Owners, St. Xxxx has made an option payment to Owners in the amount of $5,000, receipt of which is hereby acknowledged by Owners.
Option Payments. Each individual who held an option to purchase shares of Common Stock under the Company's 1997 Stock Option Plan (the "1997 Plan"), and the Company's 1987 Stock Option Plan (the "1987 Plan", and together with the 1997 Plan, the "Equity Plans"), and had such option cancelled upon the Effective Time pursuant to the terms of the applicable Equity Plan, whether or not then exercisable (an "Option"), will be entitled to receive, at the Effective Time, for each share subject to such Option an amount (subject to any applicable withholding tax) in cash equal to the difference between the Merger Consideration and the per share exercise price of such Option to the extent such difference is a positive number (such amount is hereinafter referred to as the "Option Consideration"). The Surviving Corporation or Parent shall pay the Option Consideration within one Business Day following the Effective Time (provided the Company has delivered by the Effective Time a list of outstanding Options as of the Effective Time). Pursuant to the terms of the Equity Plans, upon the Effective Time, the Options will be canceled.
