Options Outstanding Clause Samples

Options Outstanding. Options to purchase 90,000 shares of common stock of Empire Resorts, Inc. at $3.99 per share granted on August 17, 2005. These shall remain exercisable through June 30, 2012.
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Options Outstanding. The Company currently maintains the GRC International, Inc. 1985 Employee Stock Option Plan, the GRC International, Inc. 1994 Employee Stock Option Plan, the GRC International, Inc. 1998 Employee Stock Option Plan, the GRC International, Inc. Cash Compensation Replacement Plan, and the GRC International, Inc. Directors Fee Replacement Plan (collectively referred to as the "Stock Plans"), more specifically described in Section 4.2, which provide for the granting of options to purchase and awards of Company Common Stock, and the GRC International, Inc. 1985 Employee Stock Purchase Plan ("ESPP"), which permits employees to purchase Company Common Stock. As of the date of this Agreement, the Company has taken all actions necessary to amend each Stock Plan and the ESPP to provide that no further options, awards or rights to receive equity shall be granted, offered or elected under any Stock Plan after the date hereof. As of the date of this Agreement, the Company has taken all actions necessary to cause the GRC International, Inc. Cash Compensation Replacement Plan, the GRC International, Inc. Directors Fee Replacement Plan, and the ESPP to terminate, and all participant contributions and deferral amounts credited on behalf of the participants under such plans at the time of such termination shall be paid to them in cash by the Company as soon as administratively practicable thereafter.
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Options Outstanding. The Company has a stock option program of 10,000,000 options to key employees in the Company, where of 9,205,000 options have been granted. 7,355,000 have a strike price of USD 3.50, 1,200,000 have a strike price of USD 4.00 and 650,000 have a strike price of USD 4.20.
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Options Outstanding. Landmark currently maintains the Landmark Option Plans, which provide for the granting of options to purchase and awards of Shares, and the ESPP, which permits employees to purchase Shares. On and after the date of this Agreement, Landmark shall take all actions necessary to amend each Landmark Option Plan and the ESPP to provide that no further options, awards or rights to receive equity shall be granted or offered under any Landmark Option Plan or the ESPP after the date hereof. Landmark agrees to take all actions necessary to cause the ESPP to terminate as promptly as practicable after the date of this Agreement, and all participant contributions and deferral amounts credited on behalf of the participants under the ESPP Plan at the time of such termination shall be paid to the participants, respectively, in cash by Landmark at such time without interest.
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Options Outstanding. In consideration of its advances made pursuant to Revolving Line of Credit, the Company has granted to HomeGold Financial, Inc. ("HGF") the option to purchase Units of ownership interest in the Company, which shall, after issuance, constitute eighty (80%) percent of the authorized and issued Units of the Company. The exercise price for such option is $100,000. The aforesaid option may be exercised by HGF at any time prior to December 31, 2012 by written notice to the Company, accompanied by payment of the exercise price.
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Options Outstanding. Pursuant to the Corel Corporation Employee Stock Option Plan and the Corel Corporation Employee Stock Option Plan 2000, options for 5,109,588 common shares are outstanding as of September 28, 2000. The Articles of the Corporation are amended to create a first series of 24,000,000 participating convertible preferred shares which shall be designated the Series A Participating Convertible Preferred Shares (the "Series A Shares") and shall have attached thereto, in addition to the rights, privileges, conditions and restrictions attaching to the Preferred Shares as a class, the following rights, privileges, conditions and restrictions as set forth below:
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Options Outstanding. Viasoft currently maintains the Viasoft Option Plans, which provide for the granting of options to purchase and awards of Viasoft Common Stock, and the ESPP, which permits employees to purchase Viasoft Common Stock. On and after the date of this Agreement, Viasoft shall take all actions necessary to amend each Viasoft Option Plan and the ESPP to provide that, except as set forth in Section 6.4(a) of the Viasoft Disclosure Letter, no further options, awards or rights to receive equity shall be granted or offered under any Viasoft Option Plan or the ESPP after the date hereof. Except as set forth in Section 6.4(a) of the Viasoft Disclosure Letter, Viasoft agrees to take all actions necessary to cause the ESPP to terminate on or before the Effective Time, and all participant contributions and deferral amounts credited on behalf of the participants under the ESPP Plan at the time of such termination shall be paid to them in cash by Viasoft as soon as administratively practicable thereafter.
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Related to Options Outstanding

  • Amount of Swing Line Loans Upon the satisfaction of the conditions precedent set forth in Section 4.2 and, if such Swing Line Loan is to be made on the date of the initial Credit Extension hereunder, the satisfaction of the conditions precedent set forth in Section 4.1 as well, from and including the Restatement Effective Date and prior to the Facility Termination Date, the Swing Line Lender agrees, on the terms and conditions set forth in this Agreement, to make Swing Line Loans in Dollars to the Borrower from time to time in an aggregate principal amount not to exceed the Swing Line Commitment, provided that (i) the Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate Commitment and (ii) at no time shall the sum of (a) the Swing Line Loans then outstanding, plus (b) the outstanding Revolving Loans made by the Swing Line Lender pursuant to Section 2.1 (including its participation in any Facility LCs), exceed the Swing Line Lender’s Commitment at such time. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Swing Line Loans at any time prior to the Facility Termination Date.

  • Voluntary Reduction of Revolving Credit Commitments Upon at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at the Administrative Agent’s Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right, without premium or penalty, on any day, permanently to terminate or reduce the Revolving Credit Commitments of any Class in whole or in part, provided that (a) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitment of each of the Lenders of such Class of Revolving Credit Commitments, except that (i) notwithstanding the foregoing, in connection with the establishment on any date of any Extended Revolving Credit Commitments (including, without limitation, the 2016 Revolving Credit Commitments) pursuant to Section 2.14(f), the Revolving Credit Commitments of any one or more Lenders providing any such Extended Revolving Credit Commitments on such date shall be reduced in an amount equal to the amount of Revolving Credit Commitments so extended on such date (provided that (x) after giving effect to any such reduction and to the repayment of any Revolving Credit Loans made on such date, the Revolving Credit Exposure of any such Lender does not exceed the Revolving Credit Commitment thereof (such Revolving Credit Exposure and Revolving Credit Commitment being determined in each case, for the avoidance of doubt, exclusive of such Lender’s Extended Revolving Credit Commitment and any exposure in respect thereof) and (y) for the avoidance of doubt, any such repayment of Revolving Credit Loans contemplated by the preceding clause shall be made in compliance with the requirements of Section 5.3(a) with respect to the ratable allocation of payments hereunder, with such allocation being determined after giving effect to any conversion pursuant to Section 2.14(f) of Revolving Credit Commitments and Revolving Credit Loans into Extended Revolving Credit Commitments and Extended Revolving Credit Loans pursuant to Section 2.14(f) prior to any reduction being made to the Revolving Credit Commitment of any other Lender) and (ii) Borrower may at its election permanently reduce the Revolving Credit Commitment of a Defaulting Lender to $0 without affecting the Revolving Credit Commitments of any other Lender, (b) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $5,000,000 and (c) after giving effect to such termination or reduction and to any prepayments of the Loans made on the date thereof in accordance with this Agreement, the aggregate amount of the Lenders’ Revolving Credit Exposures shall not exceed the Total Revolving Credit Commitment. As a condition to the effectiveness of each reduction of Revolving Credit Commitments of a Class which is not made proportionately among all Classes of Revolving Credit Commitments, the Borrower shall have repaid any outstanding Revolving Credit Loans and Swingline Loans such that, at the time of the effectiveness of such reduction, there are no Revolving Credit Loans or Swingline Loans outstanding.

  • Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments. (ii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Aggregate Maximum Credit Amounts under Section 2.06(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.06(b)(ii) shall be irrevocable. Any termination or reduction of the Aggregate Maximum Credit Amounts shall be permanent and may not be reinstated. Each reduction of the Aggregate Maximum Credit Amounts shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage.

  • Termination or Reduction of Revolving Credit Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent (which shall promptly notify each Lender thereof), to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments; provided that no such termination or reduction of Revolving Credit Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Credit Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Credit Commitments then in effect.