Option XXXXX Sample Clauses

Option XXXXX. [Article 4.00] This optional Article 4.00 will X / will not __ apply herein.
Sample 1
Option XXXXX. (a) Within 30 days following the completion of the Initial Well, TXCO shall select a drillsite location within the Project Area for the drilling of the First Option Well and issue an Authority for Expenditure (“AFE”) to Millenium for the estimated cost of the drilling and completing the First Option Well. Should Millenium elect to participate in the First Option Well such election shall be confirmed by the payment to TXCO, in advance, of One Hundred Percent (100%) of the estimated cost to drill and complete the First Option Well (“Election Payment”). The Election Payment shall be due to TXCO within fifteen (15) days of Millenium’s receipt of the proposal and AFE for the First Option Well. (b) Should Millenium have elected to participate in the First Option Well and completed payment of all costs to drill and complete such well to the point of first sales, then Millenium shall have the option to participate in the Second Option Well at a location selected by TXCO, with the presentation to and election by, Millenium in the same manner as the First Option Well.
Sample 1
Option XXXXX. (1) Subject to Clauses 3 (11), 3(12) and 3(13),if the Operator decides to drill an additional Well or Xxxxx in the Reservoir the Investor shall have a rolling option to participate in all such Xxxxx and upon exercise of the option the Investor shall be obligated to pay 100% of the Drilling and Completion Costs of any such Option Well. (2) The provisions of Clauses 3(4), 3(6) and 3(7) shall apply with respect to all Option Xxxxx. (3) The Operator shall give the Investor notice of its intention to drill an Option Well together with the Budget for the Well, and the Investor shall have 60 days from receipt of said notice to exercise its option to participate. The notice to exercise the option to participate shall be in writing and given pursuant to Clause 17. A failure to exercise the option with respect to any Option Well shall terminate the rolling option with respect to any additional Option Xxxxx. (4) The notice to exercise the option to participate in an Option Well shall be accompanied by a certified cheque or banker’s draft in favour of the Operator in the amount of US$2 million as a good faith deposit to be applied to the Drilling and Completion Costs of the Option Well. The Investor shall pay the balance of the Budgeted Drilling and Completion Costs of the Option Xxxxx upon terms to be agreed
Sample 1
Option XXXXX. In addition to the right of the Participant to participate in the Prospect Xxxxx, GWPC hereby grants to the Participant the option to participate, on a well-by-well basis, in each subsequent well covered by the Lease, including but not limited to, those xxxxx identified in the NI 51-101 (the “Option Xxxxx”), on the same terms as its participation in subsequent Prospect Xxxxx under this Agreement.
Sample 1
Option XXXXX. Block A-1 Option Lands (Eight Mile)
Sample 1
Option XXXXX. On or before October 15, 2003, Farmee may spud an Option Well on either or both of the sections comprising the Option Lands to earn an interest in each section drilled. Earning provisions, exceptions and options that apply to the Option Xxxxx and Option Lands are to be the same as those applied to the Test Xxxxx and the Farmout Lands.
Sample 1
Option XXXXX. The Farmee shall have the option to drill additional xxxxx at mutually agreed locations on the Option Lands to earn the same amount of lands under the same earning terms as the Earning Well. In the event time does not allow additional xxxxx to be drilled in the 03/04 winter drilling season, Invasion will extend such option to the following winter drilling season.
Sample 1

Related to Option XXXXX

  • Option 1 With receipts, an employee may be reimbursed for meal expenses up to $50.00 per day, including tax and gratuity, for three (3) meals, or when separate meals are claimed, eleven dollars ($11.00) for breakfast; fifteen dollars ($15.00) for lunch; and twenty-four dollars ($24.00) for dinner, all including tax and gratuity.

  • Option 2 Employees may choose to enroll in the Cigna Open Access Plus In Network (OAPIN) plan that allows for in network coverage only. The employee price tag will be 14% of the annual premium through December 31, 2016 according to the schedule in Appendix B-1, (15% for those hired on or after January 1, 2013); 15% as of January 1, 2017; and 15% as of January 1, 2018 through December 31, 2021. Beginning January 1, 2013 through December 31, 2021, the prescription co-pay structure shall be as follows: Cigna OAPIN: Retail – up to a 30 day supply - $10 for generic; $20 for formulary; $35 for non- formulary; Mail Order: - 90 day supply of maintenance prescriptions - $20 for generic; $40 for formulary; $70 for non- formulary. Also, the hospital emergency room co-pay will be $50 per visit and is waived if admitted.

  • Option B For the first 4 weeks of leave, the University will pay 100% of regular salary.

  • Option; Option Price On the terms and subject to the conditions of the Plan and this Agreement, including, without limitation, Section 18 of this Agreement, the Optionee shall have the option (the “Option”) to purchase Shares at the price per Share (the “Option Price”) and in the amounts set forth on the signature page hereto. Payment of the Option Price may be made in the manner specified by Section 5.9 of the Plan. The Option is not intended to qualify for federal income tax purposes as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Except as otherwise provided in Section 7 of this Agreement, the Option shall remain exercisable as to all Vested Options (as defined in Section 4) until the expiration of the Option Term (as defined in Section 3). Except as otherwise provided in the Plan or this Agreement, upon a Termination of Relationship, the unvested portion of the Option (i.e., that portion which does not constitute Vested Options) shall terminate.

  • Option Right Landlord hereby grants to the originally named Tenant herein (“Original Tenant”), and its “Permitted Assignees”, as that term is defined in Section 14.8, below, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (ii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice in the twelve (12) month period prior to the date of Tenant’s attempted exercise; and (iii) the Lease then remains in full force and effect. Landlord may, at Landlord’s option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord), the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and any Permitted Assignees, and may be exercised by Original Tenant or such Permitted Assignees (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Option A For each week of leave up to the 13th week, inclusive, the University will pay 95% of the wages the employee otherwise would have received, less the maximum amount of weekly pay any individual is eligible to receive in accordance with the EIA (the “EI Max”), regardless of whether or not such amount is actually received by the employee. If the employee provides proof that their EIA entitlement is less than the EI Max, their weekly payment from the University will be 95% of the wages the employee otherwise would have received less the amount of their EIA entitlement. OR

  • Method of Option Exercise A. Subject to the terms and conditions of this Agreement, the Options may be exercised by written notice to the Company at its executive offices to the attention of the Corporate Secretary of the Company (the “Secretary”). Such notice shall state the election to exercise the Options, shall state the number of shares in respect of which it is being exercised (the “Purchased Shares”) and shall be signed by the person or persons so exercising the Options. In no case may the Options be exercised as to less than fifty (50) Shares at any one time (or the remaining Shares then purchasable under the Options, if less than fifty (50) Shares) or for a fractional Share. Except as provided in Section 5 below, the Options may not be exercised unless the Employee shall, at the time of the exercise, be an employee of the Company. During the Employee’s lifetime, only the Employee or the Employee’s guardian or legal representative may exercise the Options. B. Such notice shall be accompanied by (i) a personal check payable to the order of the Company for payment of the full purchase price of the Purchased Shares, (ii) delivery to the Company of the number of Shares duly endorsed for transfer and owned by the Employee that have an aggregate Fair Market Value equal to the aggregate purchase price of the Purchased Shares or (iii) payment therefor made in such other manner as may be acceptable to the Company on such terms as may be determined by the Compensation Committee of the Board of Directors (the “Committee”). “Fair Market Value” shall have the meaning given to that term in the 2009 Plan. In addition to and at the time of payment of the purchase price, the person exercising the Options shall pay to the Company the full amount of any federal and state withholding or other taxes applicable to the taxable income of such person resulting from such exercise in cash unless the Committee in its sole discretion shall permit such taxes to be paid in Shares. Such payment may also be made in the form of payroll withholding, at the election of the option holder. The Company shall issue the Shares of the said Purchased Shares as soon as practicable after receipt of the notice and all required payments by the person or persons exercising the Options as provided in Section 4, Subsection A above. Unless the person or persons exercising the Options shall otherwise direct the Company in writing, such Shares shall be registered in the name of the person or persons so exercising the Options and shall be delivered as aforesaid to or upon the written order of the person or persons exercising the Options.

  • Our Option If we give you written notice within 30 days after we receive your signed, sworn proof of loss, we may repair or replace any part of the damaged property with material or property of like kind and quality.

  • Method of Exercise of Option The Option is exercisable by notice and payment to the Company in accordance with the procedure prescribed herein. Each such notice will: (a) State the election to exercise the Option and the number of shares in respect of which it is being exercised; (b) Contain a representation and agreement as to investment intent, if required by counsel to the Company with respect to such Shares, in form satisfactory to counsel for the Company; and (c) Be signed by the person entitled to exercise the Option and, if the option is being exercised by any person other than the Director, be accompanied by proof, satisfactory to counsel for the Company, of the right of that person to exercise the Option. Upon receipt of such notice, the Company will specify, by written notice to the person exercising the option, a date and time (the "Closing Date") and place for payment of the full purchase price of such Shares. The Closing Date will be not more than fifteen days from the date the notice of exercise is received by the Company unless another date is agreed upon by the Company and the person exercising the Option or is required upon advice of counsel for the Company in order to meet the requirements of Section 10 hereof. Payment of the purchase price will be made at the place specified by the Company on or before the Closing Date by delivering to the Company a certified or bank cashier's check payable to the order of the Company. The Option will be deemed to have been exercised with respect to any particular shares of Common Stock if, and only if, the preceding provisions of this Section 9 and the provisions of Section 10 hereof shall have been complied with, in which event the option will be deemed to have been exercised on the Closing Date. Anything in this Agreement to the contrary notwithstanding, any notice of exercise given pursuant to the provisions of this Section 9 will be void and of no effect if all the preceding provisions of this Section 9 and the provisions of Section 10 have not been complied with. The certificates for shares of Common Stock as to which the option shall be exercised will be registered in the name of the person exercising the option (or, if the option is exercised by the Director and if the Director so requests in the notice exercising the Option, will be registered in the name of the Director and another person jointly, with right of survivorship) and will be delivered on the Closing Date to the person exercising the Option at the place specified for the closing, but only upon compliance with all of the provisions of this Agreement. If the Director fails to accept delivery of and pay for all or any part of the number of shares specified in the notice upon tender or delivery thereof on the Closing Date, his right to exercise the Option with respect to those undelivered shares may be terminated in the sole discretion of the Board of Directors of the Company. The Option may be exercised only with respect to full shares.