OPTION TO CONTRACT Sample Clauses

OPTION TO CONTRACT. Provided Tenant fully and completely satisfies each of the conditions set forth in this Article 33, Tenant shall have the option (“Contraction Option”) to terminate this Lease as to the “Contraction Space” as defined below effective as of a date(s) selected by Tenant which is after expiration of the second (2nd) Lease Year (as to space which is a part of the initial Premises) or effective as of a date(s) selected by Tenant which is after the date which is two (2) years after the commencement of Tenant’s lease of such space (as to any First Offer Space added to the initial Premises under Article 32 above). The term “
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OPTION TO CONTRACT. Based on the decision tree analyzed before(Figure 3.4), landing new gas fields to Nyhamna and use extra capacity are the key points to determine whether Nyhamna will be a hub. Shell is the operator of the new gas field called Onyx and StatiolHydro operates a new gas field called Luva. It is possible for management to exercise the option to contract at Nyhamna because of the uncertainty in gas market and high landing cost to Nyhamna. In addition, Kårstø and Kollsnes are two existing competitors for Nyhamna. Landing Onyx and Luva to Nyhamna is not the only solution. Another option is to land Onyx or Luva to other existing hubs. The existing hubs such as Kårstø and Kollsnes may have good experience to land new gas fields and thus may have cost advantages. Furthermore, if the market condition is worse than expected, it is a good strategy to contract the production scale in order to prevent losing profits. The option to contract is opposite from the option to expand. The gas companies may contract scale of investment to save cost when the market condition is worse than expected. We assume the company could contract c% scale of investment and saving cost would be IC. Therefore, the value of this option will be max (IC-33.4×c%, 0). It does not mean that gas companies could not invest in xxxxx, templates and so on. Management could save cost through exercise this option.
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OPTION TO CONTRACT. Article 39 "Reduction to Size of Premises" is hereby null and void and is replaced by the following verbiage: Provided the Tenant is not in default of Lease terms and conditions, at any time during the last three (3) years of the renewal term, Tenant shall have the right to "give back" to the Landlord up to 4,106 rentable square feet of space by providing Landlord with one hundred eighty (180) days prior written notice accompanied by liquidated damages in an amount equal to one hundred twenty five percent (125%) of the unamortized brokerage commissions and Tenant Improvements on a pro-rata basis as applied to the actual square footage contracted amortized at ten percent (10%) interest per annum. The total cost of commissions is $73,612.00 and the total cost of Tenant Improvements is $173,700.00. Such right to contract shall continue during Tenant's renewal periods. In the event Tenant elects to contract, Tenant shall forgo its right of Building signage.
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OPTION TO CONTRACT. Tenant shall have the right to surrender to Landlord a portion of the Premises, and terminate this Lease solely as it relates to such portion, effective as of the last day of the tenth (10th) Lease Year, as hereinafter defined (the “Contraction Effective Date”), subject to the following terms and conditions:
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OPTION TO CONTRACT. Tenant shall have a one (1) time option to reduce the size of the Premises by approximately 693 square feet as shown on the attached Exhibit A effective November 1, 1994, by providing both a written notice of its intention to contract and a payment in the sum of EIGHTEEN THOUSAND AND NO 100 DOLLARS ($18,000.00) to Landlord on or before May 1, 1994. In addition, Tenant shall be responsible for the cost of the improvements associated with partitioning off the contraction space from the remaining Premises.
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OPTION TO CONTRACT. This Subsection is hereby amended as follows: Tenant shall have a one (1) time Option to Contract the size of the Premises by approximately 000 XXXXXXXX XXXXXX FEET as shown on the attached EXHIBIT A-3 effective JUNE 1, 1998, by providing Landlord with six (6) months' prior written notice of Tenant's intention to exercise such Option to Contract. The following Subsection 20.21 is hereby added:
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OPTION TO CONTRACT. The square footage is hereby amended from 693 square feet to 769 rentable square feet. With the exception of the modifications set out above, all other terms, covenants and agreements of the Lease shall remain in full force and effect. LANDLORD TENANT ALEXANDER PROPERTIES COMPANY, XXXXXX WORLDWIDE, INC. A CALIFORNIA PARTNERSHIP By: [signature] By: [signature] -------------------------- ------------------------- Xxxxxx X. Xxxxxxx Title: Gen. Mgr. Title: Vice President, Finance -------------------------- ------------------------- Date: July 26, 1993 Date: July 19, 1993 -------------------------- ------------------------- Regarding: Xxxxxx Ranch 8, Building Q 0000 Xxxxxxxxx Xxxxxxx, Xxxxx 000 Xxx Xxxxx, XX 00000 EXHIBIT G COMMENCEMENT OF FIRST LEASE ADDENDUM It is hereby agreed to that as of August 18, 1993, the EXPANSION SPACE located at 0000 XXXXXXXXX XXXXXXX, XXXXX 000, described in the FIRST Lease Addendum dated July 26, 1993, by and between ALEXANDER PROPERTIES COMPANY as Landlord and XXXXXX WORLDWIDE, INC. as Tenant, were occupied by Tenant and that said FIRST Lease Addendum is in full force and effect. ACKNOWLEDGED AND ACCEPTED: Landlord: Tenant:
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OPTION TO CONTRACT. Provided that (x) Tenant is not in default under the Lease beyond the expiration of any applicable notice and cure period, and (y) except for a Corporate Transfer, Tenant has not assigned the Lease, Tenant shall have the right, at Tenant’s sole option, to give back to Landlord, as of July 31, 2020 or July 31, 2022 (each a “Early Contraction Date”), up to the equivalent of one full floor in Tower 1 and one full floor in Tower 2, in increments of no less than all the space leased by Tenant on a floor in Tower 1 or Tower 2, and the connector space located in Tower 3, if applicable (such given back space shall hereinafter be referred to as the “Contraction Premises”), and shall be the space that represents the uppermost and/or the lowermost portion of the Demised Premises so that Tenant’s remaining Demised Premises remains contiguous space. Such contraction shall be effective only so long as (a) Tenant provides Landlord with written notice of termination on this Lease (the “Contraction Notice”) not later than twelve (12) full months prior to July 31, 2020, or July 31, 2022 (each a “Contraction Notice Date”), and (b) on or before the Contraction Notice Date, Tenant pays to Landlord, in immediately available Federal funds, the “Contraction Fee” (as hereinafter defined). Despite the foregoing, in the event that Tenant exercises its first right under this Section 50 to contract, then Tenant shall have no further right to contract under this Section 50. As used herein, “Contraction Fee” shall mean the then unamortized costs that were incurred by Landlord in connection with the Contraction Premises under this Lease (collectively, the “Transaction Costs”), including, without limitation, the brokerage fees and commissions, free rent, and fifty percent (50%) of the Construction Allowance. The Transaction Costs shall be amortized [using an interest rate of eight percent (8%)] in equal monthly installments over the initial term of this Lease. In the event Tenant shall exercise its option to contract as aforesaid, Tenant shall surrender the Contraction Premises to Landlord pursuant to the applicable provisions of this Lease on the Early Contraction Date, and the parties shall thereupon be relieved of any further liability under this Lease with respect to the Contraction Premises. Notwithstanding the foregoing, at Landlord’s option, Tenant’s exercise of the option to contract shall become null and void in the event Tenant shall be in default under the Lease between the exe...
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Related to OPTION TO CONTRACT

  • Freedom to Contract The Executive represents that he is free to enter into this Agreement and carry out his obligations hereunder without any conflict with any prior agreements, and that he has not made and will not make any agreement in conflict with this Agreement.

  • Authority to Contract Each party represents and warrants that it has full power and authority to enter into this Agreement and perform its obligations hereunder, and that it has taken all actions necessary to authorize entering into this Agreement.

  • Parties to Contract Any contract of the character described in Sections 4.1 and 4.2 of this Article IV or in Article VII hereof may be entered into with any Person, although one or more of the Trustees, officers or employees of the Trust may be an officer, director, trustee, shareholder, or member of such other party to the contract, and no such contract shall be invalidated or rendered voidable by reason of the existence of any such relationship, nor shall any Person holding such relationship be liable merely by reason of such relationship for any loss or expense to the Trust under or by reason of said contract or accountable for any profit realized directly or indirectly therefrom, provided that the contract when entered into was reasonable and fair and not inconsistent with the provisions of this Article IV or the By-Laws. The same Person may be the other party to contracts entered into pursuant to Sections 4.1 and 4.2 above or Article VII, and any individual may be financially interested or otherwise affiliated with Persons who are parties to any or all of the contracts mentioned in this Section 4.3.

  • No Obligation to Continue Service This Agreement is not an agreement of consultancy. This Agreement does not guarantee that the Company or its affiliates will retain, or continue to retain, the Participant during the entire, or any portion of the, term of this Agreement, including but not limited to any period during which the Restricted Units are outstanding, nor does it modify in any respect the Company or its affiliate’s right to terminate or modify the Participant’s consultancy or compensation.

  • COMPENSATION TO CONSULTANT The Consultant's compensation for the Consulting Services shall be as set forth in Exhibit B attached hereto and incorporated herein by this reference.

  • Option to Terminate The Client and Contractor shall: (check one) ☐ - Have the option to terminate this Agreement at any time by providing days’ written notice. ☐ - Not have the option to terminate this Agreement unless there is reasonable cause, as defined in Section VII.

  • Text to Control The headings of articles and sections are included solely for convenience of reference. If any conflict between any heading and the text of this Agreement exists, the text shall control.

  • Relation to Plan This Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistent provisions between this Agreement and the Plan, the Plan shall govern. The Board acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided otherwise herein, have the right to determine any questions which arise in connection with the Option or its exercise.

  • Obligation to Purchase (a) The Subscriber agrees to purchase from the Company convertible notes ("Put Notes") in up to the principal amount set forth on the signature page hereto for up to the aggregate amount of Put Note principal ("Put Purchase Price") designated on the signature page hereto (the "Put"). Collectively the Put Notes, Warrants issuable in connection with the Put, and Common Stock issuable upon conversion of the Put Notes and exercise of the Warrants are referred to as the "Put Securities".) The Warrants issuable in connection with the Put Notes are referred to herein as Warrants or Put Warrants. Except as described in Section 11.1(c) hereof, each Put Note will be identical to the Note except that the Maturity Date will be two years from each Put Closing Date (as hereinafter defined). The Holders of the Put Securities are granted all the rights, undertakings, remedies, liquidated damages and indemnification granted to the Subscriber in connection with the Note, including but not limited to, the rights and procedures set forth in Section 9 hereof and the registration rights described in Section 10 hereof.

  • Time to Consider Executive acknowledges that he has been advised that he has twenty-one (21) days from the date of receipt of this Release to consider all the provisions of this Release and he does hereby knowingly and voluntarily waive said given twenty-one (21) day period. EXECUTIVE FURTHER ACKNOWLEDGES THAT HE HAS READ THIS RELEASE CAREFULLY, HAS BEEN ADVISED BY THE COMPANY TO, AND HAS IN FACT, CONSULTED AN ATTORNEY, AND FULLY UNDERSTANDS THAT BY SIGNING BELOW HE IS GIVING UP CERTAIN RIGHTS WHICH HE MAY HAVE TO XXX OR ASSERT A CLAIM AGAINST ANY OF THE RELEASEES, AS DESCRIBED IN SECTION 1 OF THIS RELEASE AND THE OTHER PROVISIONS HEREOF. EXECUTIVE ACKNOWLEDGES THAT HE HAS NOT BEEN FORCED OR PRESSURED IN ANY MANNER WHATSOEVER TO SIGN THIS RELEASE, AND EXECUTIVE AGREES TO ALL OF ITS TERMS VOLUNTARILY.

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