Option to Acquire Stock Sample Clauses

Option to Acquire Stock. To the extent that the Corporation has a stock option or other similar incentive plan in place, Employee shall only be eligible to participate in such plan to the extent that Employee’s total ownership in the Corporation is less than ten percent (10%) of all issued and outstanding stock.
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Option to Acquire Stock. Borrowers shall provide Lender with the option to acquire three hundred thousand (300,000) shares of stock of CyberAds, at a strike price of fifty cents ($.50) per share, for a term of up to five years from the Effective Date. These options shall be issued and recorded by CyberAds as indicated by Lender in writing from time to time.
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Option to Acquire Stock. (a) Subject to and upon the terms and conditions set forth in this Section 2, Cubist shall have the option (but not the obligation) to acquire all of the Novalon Outstanding Stock (the "Acquisition Option"). The Acquisition Option may only be exercised by Cubist during the period commencing on the date hereof and ending on February 5, 1998 (the "Acquisition Option Period"). Cubist shall exercise the Acquisition Option by giving written notice of exercise to the Corporation (the "Exercise Notice"), which Exercise Notice shall specify the proposed structure of the transaction pursuant to which Cubist shall acquire all of the Novalon Outstanding Stock and the proposed date by which such transaction will be consummated. The Corporation shall send to each Novalon Stockholder a copy of the Exercise Notice promptly after receipt thereof by the Corporation. (b) In the event that Cubist shall not have exercised the Acquisition Option on or prior to November 5, 1997 and that Cubist shall not have terminated this Agreement pursuant to Section 12(a) hereof, then Cubist shall be obligated to make an additional $500,001 equity investment in the Corporation (the "Additional Equity Investment") upon the terms and conditions set forth in this Section 2.1(b). Cubist shall effect the Additional Equity Investment by purchasing an additional 166,667 shares (the "Additional Series B Preferred Shares") of Series B Convertible Preferred Stock of the Corporation at a purchase price of $3.00 per share. Cubist's obligation to effect the Additional Equity Investment shall be subject to the conditions that (i) the Corporation shall have executed and delivered to Cubist a counterpart of a stock purchase agreement, in form and substance substantially the same as Series B Stock Purchase Agreement (except that such stock purchase agreement shall not contain any provisions pertaining to the Collaboration), more fully implementing the terms of the purchase and sale of the Additional Series B Preferred Shares and (ii) all of the parties to each of the Related Agreements (as defined in the Series B Stock Purchase Agreement) shall have entered into such amendments to such Related Agreement as may be necessary to ensure that the Additional Series B Preferred Shares become subject to, and entitled to the benefits of, such Related Agreement.
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Option to Acquire Stock. If MIOA or PHC terminates this Agreement pursuant to Section 7.4, the non-terminating party shall have the option to acquire 19.9% of the terminating party in accordance with the terms set forth in the Stock Option Agreements set forth in EXHIBIT 7.5(B).
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Option to Acquire Stock. The Company hereby confirms that Allee shall have the right to purchase shares of Common Stock in the Company as follows: A. 200,000 shares at $2.00 per share, exercisable by payment of the purchase price for all or a portion of such shares on or before September 30, 1997. B. 175,000 shares at $2.50 per share, exercisable by the execution and delivery to the Company of a promissory note for the purchase price for all or a portion of the shares being purchased on or before September 30, 1997. The promissory note will: (i) be secured by a pledge of the MGC stock being purchased with such promissory note, (ii) provide for interest at the rate of 7.5% per annum, (iii) provide for final maturity on the earlier of 45 days after Allee's termination of employment with the Company for any reason whatsoever or September 30, 2000, (iv) require payments of principal equal to 70% of any annual bonus otherwise payable by the Company to Allee (the Company shall have the right to apply such portion of Allee's annual bonus directly against such payments due under the note), and (v) be prepayable at any time without premium or penalty.
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Option to Acquire Stock. Article 7 of the Agreement is amended as follows: a. The first sentence of Section 7.2(b)(i)(A) is deleted and replaced with the following: The Fund may elect to purchase from MCAF up to the number of shares of common stock of MCAF set forth in Section 7.4 at the purchase price specified in Section 7.5, which election shall be effective immediately prior to the effectiveness of the registration statement for the Public Offering. In addition, simultaneously with the effectiveness of that election (that is, immediately prior to the effective time of the registration statement for the Public Offering), the shares so purchased by the Fund shall be deemed sold by MCAF and purchased by the Fund and any shares surrendered by the Fund pursuant to a cashless exercise under Section 7.5(c) shall be deemed canceled b. The first sentence of Section 7.2(b)(i)(C) is deleted and replaced with the following: If the Fund has delivered, and not withdrawn, a written election pursuant to subsection (b)(i)(A) or has reaffirmed its election pursuant to subsection (b)(i)(B), MCAF shall deliver to the Fund immediately prior to the effective date of the registration statement for the Public Offering a written notice setting forth the number of shares which the Fund is obligated to purchase, the purchase price thereof and the manner in which it was calculated, and the anticipated date, time and place of the closing of the Public Offering. c. A new paragraph (f) shall be added to Section 7.2 reading as follows:
Sample 1
Option to Acquire Stock. (a) Subject to and upon the terms and conditions set forth in this Section 2, Cubist shall have the option (but not the obligation) to acquire all of the Novalon Outstanding Stock (the "Acquisition Option"). The Acquisition Option may only be exercised by Cubist during the period commencing on the date hereof and ending on ************* (the "Acquisition Option Period"). Cubist shall exercise the Acquisition Option by giving written notice of exercise to the Corporation (the "Exercise Notice"), which Exercise Notice shall specify the proposed structure of the transaction pursuant to which Cubist shall acquire all of the Novalon Outstanding Stock and the proposed date by which such transaction will be consummated. The Corporation shall send to each Novalon Stockholder a copy of the Exercise Notice promptly after receipt thereof by the Corporation. (b) In the event that Cubist shall not have exercised the Acquisition Option on or prior to **************** and that Cubist shall not have terminated this Agreement pursuant to Section 12(a) hereof, then ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ * Confidential treatment requested: material has been omitted and filed separately with the Commission. ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************************ ************************************************
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Related to Option to Acquire Stock

  • Shares The term “

  • Common Shares 4 Company...................................................................................... 4

  • Common Stock 1 Company........................................................................1

  • No Rights as Shareholder Until Exercise This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price (or by means of a cashless exercise), the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the date of such surrender or payment.

  • Distributions Other Than Cash, Shares or Rights to Purchase Shares (a) Whenever the Company intends to distribute to the holders of Deposited Securities property other than cash, Shares or rights to purchase additional Shares, the Company shall give notice thereof to the Depositary at least 30 days prior to the proposed distribution and shall indicate whether or not it wishes such distribution to be made to Holders of ADSs. Upon receipt of a notice indicating that the Company wishes such distribution be made to Holders of ADSs, the Depositary shall determine whether such distribution to Holders is lawful and practicable. The Depositary shall not make such distribution unless (i) the Company shall have timely requested the Depositary to make such distribution to Holders, (ii) the Depositary shall have received satisfactory documentation within the terms of Section 5.7 hereof and (iii) the Depositary shall have determined that such distribution is lawful and reasonably practicable. (b) Upon receipt of satisfactory documentation and the request of the Company to distribute property to Holders of ADSs and after making the requisite determinations set forth in (a) above, the Depositary may distribute the property so received to the Holders of record as of the ADS Record Date, in proportion to the number of ADSs held by such Holders respectively and in such manner as the Depositary may deem practicable for accomplishing such distribution (i) upon receipt of payment or net of the applicable fees and charges of, and expenses incurred by, the Depositary and (ii) net of any taxes and/or other governmental charges. The Depositary may dispose of all or a portion of the property so distributed and deposited, in such amounts and in such manner (including public or private sale) as the Depositary may deem practicable or necessary to satisfy any taxes (including applicable interest and penalties) and other governmental charges applicable to the distribution. (c) If (i) the Company does not request the Depositary to make such distribution to Holders or requests the Depositary not to make such distribution to Holders, (ii) the Depositary does not receive satisfactory documentation within the terms of Section 5.7 hereof or (iii) the Depositary determines that all or a portion of such distribution is not reasonably practicable or feasible, the Depositary shall endeavor to sell or cause such property to be sold in a public or private sale, at such place or places and upon such terms as it may deem proper and shall distribute the net proceeds, if any, of such sale received by the Depositary (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges) to the Holders as of the ADS Record Date upon the terms of Section 4.1 hereof. If the Depositary is unable to sell such property, the Depositary may dispose of such property in any way it deems reasonably practicable under the circumstances for nominal or no consideration and Holders and Beneficial Owners shall have no rights thereto or arising therefrom.

  • GRANT OF THE RIGHT TO PURCHASE COMMON STOCK (a) For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, up to the aggregate number of fully paid and non-assessable shares of Common Stock (as defined below) as determined pursuant to Section 1(b) below, at a purchase price per share equal to the Exercise Price (as defined below). The number and Exercise Price of such shares are subject to adjustment as provided in Section 8. As used herein, the following terms shall have the following meanings:

  • No Rights as Stockholder Until Exercise This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3.

  • GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase from the Company, 9,694 fully paid and non-assessable shares of the Company’s Series B Preferred Stock (“Preferred Stock”) at a purchase price of $4.90 per share (the “Exercise Price”). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof.

  • The Shares The Shares to be issued and sold by the Company hereunder have been duly authorized by the Company and, when issued and delivered and paid for as provided herein, will be duly and validly issued, will be fully paid and nonassessable and will conform to the descriptions thereof in the Registration Statement, the Pricing Disclosure Package and the Prospectus; and the issuance of the Shares is not subject to any preemptive or similar rights.

  • Ordinary Shares The Ordinary Shares included in the Units have been duly authorized and, when issued and delivered against payment for the Offered Securities by the Underwriters pursuant to this Agreement and registered in the Company’s register of members, will be validly issued, fully paid and non-assessable. The holders of such Ordinary Shares are not and will not be subject to personal liability by reason of being such holders; such Ordinary Shares are not and will not be subject to any preemptive or other similar contractual rights granted by the Company.

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