Optional Termination Right Sample Clauses

Optional Termination Right. The Requisite Holders may, but shall not be obligated to, elect to terminate this Agreement at any time between the date hereof and the expiration of the Put Term and receive from Mimvi additional shares of Parent Stock equal to ten percent (10%) of the number of remaining Option Shares covered by this Agreement as of the date of termination (the “Termination Shares”). The Requisite Holders may elect to terminate this Agreement by delivering a written notice to Mimvi specifying therein the date on which such termination shall be effective, provided that if no termination date is specified, the termination date shall be the date that such notice is deemed delivered hereunder. Promptly after the effective date of termination, Mimvi shall issue to each Shareholder certificates representing his or her respective Pro Rata Share of the Termination Shares.

Optional Termination Right. Subject to the terms and conditions of this Agreement: (a) UBS and the City hereby agree that the City shall have the right, but not the obligation, exercisable on any Business Day during the Exercise Period, to direct UBS to exercise its Optional Termination Right, under all (but not less than all) of the UBS Swap Agreements (the “UBS Termination Right”). (b) MLCS and the City hereby agree that the City shall have the right, but not the obligation, exercisable on any Business Day during the Exercise Period, to direct MLCS to exercise or cause to be exercised the Optional Termination Right under all (but not less than all) of the MLCS/SBS Swap Agreements (the “MLCS Termination Right” and together with the UBS Termination Right, the “Termination Rights”). MLCS hereby acknowledges that MLCS has the right to direct SBS to exercise the Optional Termination Right.

Optional Termination Right. If the demised premises shall be destroyed or damaged by fire or other casualty so as to be unfit, in whole or in part, for occupancy, then this Lease shall terminate as of the date of such destruction or damage under the following circumstances: (A) By mutual consent of the parties; (B) If any of the following events occur: (i) If the demised premises shall be damaged to the extent of fifty percent (50%) or more of the cost of replacement thereof during the last five (5) years of this Lease; (ii) If the demised premises shall be damaged to the extent of fifteen percent (15%) or more of the cost of replacement thereof during the last year of this Lease; (iii) If the demised premises shall be damaged during the last year of this Lease to the extent that the time necessary for restoration would exceed two months; (C) If the demised premises shall be damaged by any uninsured casualty or any casualty not covered by Landlord's insurance excluding any deductible amount and Landlord gives written notice to Tenant within sixty (60) days of its decision to terminate this Lease; and (D) If the demised premises shall be damaged by any casualty covered by Landlord's insurance and Landlord's mortgagee does not consent to the use of such insurance proceeds for the performance by Landlord of its obligations to restore and Landlord gives written notice to Tenant within sixty (60) days of its decision to terminate the Lease.

Optional Termination Right. For purposes of this Transaction, the -------------------------- Counterparty shall have the right, at its option and sole discretion, to terminate this Transaction, in whole only, upon delivery of written notice to the Bank five Business Days prior to such optional termination. Upon the exercise of such Optional Termination Right, the Counterparty shall owe the Bank, in addition to the other amounts due hereunder, the amount set forth in Section 2(d) of this Confirmation.