Common use of Option Units Clause in Contracts

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units at the price per unit set forth in Schedule B, less an amount per unit equal to any dividends or distributions declared by the Company and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative to the Company setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "Date of Delivery") shall be determined by the Representative, but shall not be later than five full business days after the exercise of such option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject in each case to such adjustments as the Representative in its discretion shall make to eliminate any sales or purchases of fractional shares.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units at the price per unit 825,000 Common Units, as set forth in Schedule B, at the price per Unit set forth in Schedule C, less an amount per unit Unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 30 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments overallotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Mxxxxxx Lxxxx and Lxxxxx Brothers to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeMxxxxxx Lxxxx and Lxxxxx Brothers, but shall not be later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject in each case to such adjustments as the Representative Mxxxxxx Lxxxx and Lxxxxx Brothers in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option 600,000 Common Units at the a price per unit set forth in Schedule B, less an amount per unit share equal to any dividends or distributions declared by the Company and payable on the Initial Units but not payable on the Option UnitsPurchase Price referred to in Section 2(a) above. The option hereby granted will expire 45 may be exercised up to 30 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "Date of Delivery"an “Option Closing Date”) shall be determined by the Representative, but shall not be later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing TimeDate, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule Exhibit A opposite the name of such Underwriter, plus any additional number of Initial Units that such Underwriter may become obligated to purchase pursuant to the provisions of Section 9 hereof, bears to the total number of Initial Units, subject in each case to such adjustments as the Representative in its discretion shall make to eliminate any sales or purchases of fractional shares.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 1,200,000 Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later (i) in the event the option is exercised subsequent to the Closing Time, earlier than five three full business days after the exercise of such option or (ii) later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later (i) in the event the option is exercised subsequent to the Closing Time, earlier than five three full business days after the exercise of such option or (ii) later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units [•] Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not not, unless agreed to in writing by the Partnership, be sooner than three full business days nor later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Xxxxxxx Xxxxx in its sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the UnderwritersUnderwriters to purchase, severally and not jointly, to purchase up to an additional 3,000,000 of Option 1,312,500 Common Units at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Firm Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the Representative, but shall not be sooner than three full business days nor later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing Time; provided, as hereinafter definedhowever, that a Date of Delivery may be sooner than three full business days after the exercise of said option if such Date of Delivery is the Closing Time. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Firm Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Firm Units, subject subject, in each case case, to such adjustments as the Representative in its and absolute discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forthforth herein, the Company Capital Maritime hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units [1,762,500] Common Units, at the price per unit Unit set forth in Schedule B, less an amount per unit Unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 30 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments overallotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership and Capital Maritime setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject in each case to such adjustments as the Representative Representatives in its their discretion shall make to eliminate any sales or purchases of fractional sharesCommon Units.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 1,455,000 Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later (i) in the event the option is exercised subsequent to the Closing Time, earlier than five three full business days after the exercise of such option or (ii) later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the UnderwritersUnderwriters to purchase, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 750,000 Common Units, at the price per unit set forth in Schedule BExhibit A, less provided that the price per Common Unit for any Option Units shall be reduced by an amount per unit Common Unit equal to any dividends or distributions declared paid or payable by the Company and payable Partnership on the Initial Firm Units but not payable on the such Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later than five seven full business days after the exercise of such optionsaid option (unless postponed in accordance with the provisions of Section 10), nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Firm Units set forth in Schedule Exhibit A opposite the name of such Underwriter bears to the total number of Initial Firm Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their absolute discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 1,560,300 Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only (such exercise being for the purpose purposes of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units Units) upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later (i) in the event the option is exercised subsequent to the Closing Time, earlier than five three full business days after the exercise of such option or (ii) later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the UnderwritersUnderwriters to purchase, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units [●] Common Units, at the price per unit set forth in Schedule BExhibit A, less provided that the price per Common Unit for any Option Units shall be reduced by an amount per unit Common Unit equal to any dividends or distributions declared paid or payable by the Company and payable Partnership on the Initial Firm Units but not payable on the such Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later than five seven full business days after the exercise of such optionsaid option (unless postponed in accordance with the provisions of Section 10), nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Firm Units set forth in Schedule Exhibit A opposite the name of such Underwriter bears to the total number of Initial Firm Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their absolute discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 2,437,500 Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not be later (i) in the event the option is exercised subsequent to the Closing Time, earlier than five three full business days after the exercise of such option or (ii) later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Representatives in its their sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 2,250,000 of Option Units at the price per unit set forth in Schedule B, less an amount per unit equal to any dividends or distributions declared by the Company and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative to the Company setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "Date of Delivery") shall be determined by the Representative, but shall not be later than five full business days after the exercise of such option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject in each case to such adjustments as the Representative in its discretion shall make to eliminate any sales or purchases of fractional shares.

Option Units. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company Partnership hereby grants an option to the Underwriters, severally and not jointly, to purchase up to an additional 3,000,000 of Option Units 2,062,500 Common Units, at the price per unit set forth in Schedule BA, less an amount per unit equal to any dividends or distributions declared by the Company Partnership and payable on the Initial Units but not payable on the Option Units. The option hereby granted will expire 45 may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Units upon notice by the Representative Representatives to the Company Partnership setting forth the number of Option Units as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Units. Any such time and date of delivery (a "“Date of Delivery"”) shall be determined by the RepresentativeRepresentatives, but shall not not, unless agreed to in writing by the Partnership, be sooner than three full business days nor later than five seven full business days after the exercise of such said option, nor in any event prior to the Closing Time, as hereinafter defined. If the option is exercised as to all or any portion of the Option Units, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Units then being purchased which the number of Initial Units set forth in Schedule A opposite the name of such Underwriter bears to the total number of Initial Units, subject subject, in each case case, to such adjustments as the Representative Xxxxxxx Xxxxx in its sole discretion shall make to eliminate any sales or purchases of fractional sharesUnits.