Option Terms. Subject to earlier termination as provided herein, the Nonqualified Option shall expire on the 10th anniversary of the date of grant of Nonqualified Option, which anniversary shall be [xx/xx/xx]. The period during which the Nonqualified Option is in effect is referred to as the “Option Period”.
Option Terms. The City reserves the right to exercise up to three (3) one-year options to extend the term of this Agreement through November 30, 2023. The written notice to Consultant shall be provided no later than thirty (30) days prior to the end of the then current term.
Option Terms. The Option granted under this Agreement shall be subject to the following terms and conditions:
Option Terms. Each option shall be evidenced by one or more documents in the form approved by the Plan Administrator; provided, however, that each such document shall comply with the terms specified below. Each document evidencing an Incentive Option shall, in addition, be subject to the provisions of the Plan applicable to such options.
Option Terms. Two (2) five (5) year options to renew, as more particularly set forth in Section 2.2 of this Lease.
Option Terms. (a) The Option shall become exercisable in accordance with the following Schedule: Years From Date of Grant Amount Exercisable ------------------------ ------------------ One 0% Two 25% Three 50% Four 75% Five 100%
(b) Notwithstanding the provisions of paragraph (a) of this Section 3, the Option shall not be exercisable after the expiration of ten (10) years from the date the Option is granted hereunder. Further, in the event the Participant's Employment terminates for any reason whatsoever, whether because of his death, Disability, termination with or without Cause, voluntary termination or otherwise, the Option, (i) to the extent it has not theretofore become exercisable, shall terminate as of the date such Employment terminates, and (ii) to the extent it has become exercisable but has not been exercised, shall terminate three (3) months after the date such Employment terminates.
Option Terms. Subject to further detail included in this Agreement, the key terms related to the Option are as follows:
Option Terms. The Establishing JBE may elect to extend this Agreement for up to two consecutive one-year terms (each an “Option Term”), at the end of which Option Terms this Agreement shall expire. In order to exercise an Option Term, the Establishing JBE must send Notice to Contractor at least thirty
Option Terms. The consideration for the option granted by this Agreement is $100.00 (“Option Payment”). Upon execution of this Option Agreement by DSL, DSL will apply to the Chief Financial Officer for a state warrant in the amount of the Option Payment, which, will be forwarded to the escrow agent to hold for the benefit of Seller. The Option Payment is non-refundable such that Seller shall be entitled to retain the Option Payment regardless of whether Buyer exercises the Option; Provided, however, the Option Payment shall be credited toward the purchase price at closing if Buyer timely exercises the option as discussed below. The option may be exercised during the period beginning with Xxxxx's approval of this Agreement at a regularly scheduled meeting of the Governor and Cabinet sitting as the Trustees, and ending 120 days after Buyer's approval of this Agreement ("Option Expiration Date"), unless extended by other provisions of this Agreement. If Buyer's funds in the amount of the purchase price (as hereinafter defined in paragraph 3.A.) are not available by the Option Expiration Date the period of exercise of the option may be extended until such funds become available, not to exceed 60 days after the Option Expiration Date, by written notice to Seller. If Buyer’s funds are not available at the end of the 60-day extension then this Agreement shall terminate and neither party shall have further obligations under the provisions of this Agreement. If Buyer does not exercise its option by the Option Expiration Date, as extended if applicable, then the escrow agent is directed to release and disburse the Option Payment to Seller the following day. If Buyer does timely exercise its option, then escrow agent shall credit the Option Payment toward the purchase price paid by Buyer at closing.
Option Terms. Each Adjusted Pinnacle Option shall be treated in accordance with the applicable provisions of the Merger Agreement. Each OpCo Option issued pursuant to this Section 5.2(a) shall be subject to the same terms and conditions regarding term, vesting, and other provisions regarding exercise as set forth in the related Pinnacle Option before the Time of Distribution.
