Purchase of Option Sample Clauses

Purchase of Option. Upon the termination of employment or other relationship of the Optionee with the Corporation or a Subsidiary, the Corporation shall have the right, at all times before the Option is exercised, to purchase the vested (i.e., nonforfeitable) portion of the Option, in whole or in part, at a price equal to the value of such Option on the date the Corporation delivers to the Optionee (or transferee of the Option pursuant to Section 6(a)), notice that it is exercising such purchase rights. For this purpose, the value of the Option is equal to the excess (if any) of the fair market value of the shares of Stock that are subject to the Option, determined by the Board in the same manner specified in the Plan for determining the Option Price as of the date of notice, over the aggregate Option Price of such shares. Upon payment (or tender of payment) in the applicable amount to the Optionee (or transferee of the Option), the vested (i.e. nonforfeitable) portion of the Option shall be terminated and, if payment has been tendered but not made, shall only represent the right to receive such payment without interest. A notice of purchase given pursuant to this Subsection shall specify the price and date of closing of such purchase which shall be no later than 30 days from the date of such notice. In the event any such purchase right is exercised in accordance with this Subsection, the Optionee (or holder of the Option being purchased) shall be obligated to sell such Option pursuant to the exercise of such rights.
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Purchase of Option. Provided that Artra has repaid the Note in full at the maturity thereof, and that Grantee shall not have exercised the Option or the Put Option on or before the date of May 30, 1997, Artra shall have a one time option, but not the obligation, to purchase this Option from Grantee, for a total price of $50,000.00. Artra shall exercise the right to purchase this Option by giving Grantee five (5) days written notice (which shall be in the form of Exhibit "B" attached hereto and made a part hereof) prior to the date of May 30, 1997. Upon Grantee's receipt of Artra's notice and payment in full, this Option shall automatically terminate.
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Purchase of Option. Sellers are the owner of an option to purchase 20,000 shares of Common Stock (the "Option"). Subject to the dissolution of the Sines-Forte Partnership, xxx Xxxxany agrees to purchase and Sellers agree to sell the Option at the price of $1.50 per underlying share, I.E. Thirty Thousand and no/100ths Dollars ($30,000.00).
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Purchase of Option. Subject to Section 9 of this Agreement, the Company hereby agrees to sell to the Purchaser and Purchaser hereby agrees to purchase from the Company for a purchase price of Fifty Thousand Dollars ($50,000) (the "Option Purchase Price") an option (the "Option"), to purchase 50,000 shares (the "Option Shares") of common stock, no par value (the "Common Stock"), of the Company, at any time commencing on the date of this Agreement through 5:00 P.M. New York local time on the fifth year anniversary of the date of this Agreement (the "Exercise Period"), at an exercise price per Option Share equal to the closing sale price of the Common Stock, as reported by the American Stock Exchange ("AMEX"), on the date of this Agreement in the form attached as Exhibit A hereto.
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Purchase of Option. Subject to the terms and conditions of this Agreement, the Company hereby agrees to sell and issue to PXRE, and PXRE hereby agrees to purchase from the Company an option (the "Option") to purchase 333,000 shares of the Company's Common Stock, $.01 par value (the "Shares") representing approximately 9% of the Company's Common Stock on a fully diluted basis as of the date hereof.
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Purchase of Option. The Option may be purchased by the Company, solely at its election, upon the request of the Grantee, as described in the Plan.
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Purchase of Option. DMC hereby agrees to sell to the Owner and the Owner hereby agrees to buy from DMC the entire Option and the Option Agreement, free and clear of any lien, claim, right of third party or other encumbrance, for the Purchase Price and on the other terms herein set forth.
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Purchase of Option. Upon execution of this Agreement, Optionee shall purchase the Option from Optionor for the sum of $250,000, payable by wire transfer or certified or bank check.
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Related to Purchase of Option

  • Purchase of Shares For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such delivery in book-entry form.

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the Effective Date. The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in writing by overnight mail or facsimile transmission setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the "Option Closing Date"), which will not be later than five full business days after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of the Representative or at such other place as shall be agreed upon by the Company and the Representative. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Conditions to Purchase of Option Securities In the event that the Underwriters exercise their option provided in Section 2(b) hereof to purchase all or any portion of the Option Securities, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company and any of its subsidiaries hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representatives shall have received:

  • Purchase of Stock 2 Section 1.1

  • 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").

  • Delivery of Option Shares The Company shall deliver a certificate for the Option Shares to the Employee as soon as practicable after payment therefor.

  • Purchase of Units On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the several Underwriters, severally and not jointly, an aggregate of 20,000,000 units of the Company (the “Firm Units”) at a purchase price (net of discounts and commissions) of $9.80

  • Time of Exercise of Option The Optionee may exercise the option granted herein at any time after the effective date of this Agreement until the date of termination of the option as provided herein.

  • Repurchase of Shares If any share is repurchased by any of the Funds or is tendered thereto for redemption within seven business days after confirmation by us of the original purchase order from you for such security, you shall forthwith refund to us the full compensation paid to you on the original sale.

  • Exercise of Options 4.1 No portion of the option granted hereunder may be exercised for a fraction of a share. The option granted hereunder shall be deemed to be exercised when written notice of such exercise has been given to the Corporation to the attention of the Secretary of the Corporation accompanied by full payment of the exercise price and by such other documents as the Board of Directors of the Corporation (the "Board") may reasonably request. Until the issuance (as evidenced by the appropriate entry on the books of the Corporation or of a duly authorized transfer agent of the Corporation) of the stock certificate evidencing such Option Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Option Shares, notwithstanding the exercise of the Option. The Corporation shall issue (or cause to be issued) such stock certificate promptly upon exercise of any portion of the option granted hereunder. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 5 hereof. Exercise of a portion of the option granted hereunder in any manner shall result in a decrease in the number of Option Shares which thereafter may be available by the number of Shares as to which the Option is exercised. 4.2 In the event of termination of an Optionee as an employee or consultant with the Corporation (but not in the event of an Optionee's change of status from employee to consultant or from consultant to employee), such Optionee may, but only within such period of time as is determined by the Board, of at least thirty (30) days (but in no event later than the Option Expiration Date), exercise the option granted hereunder to the extent that Optionee was entitled to exercise it under Section 2 hereof at the date of such termination, or to such greater extent as may be determined by the Board. If the Optionee does not exercise such option to the extent so entitled within the time specified herein, the option shall terminate. 4.3 In the event of termination of an Optionee's status as an employee or consultant as a result of the Optionee's "disability," as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, the Optionee may exercise the option granted hereunder within twelve (12) months from the date of the Optionee's termination (but in no event shall the Optionee be entitled to exercise the option after the Option Expiration Date) to the extent that Optionee was entitled to exercise it under Section 2 on the date of termination. 4.4 In the event of the death of the Optionee, the option granted hereunder may be exercised at any time within twelve (12) months following the date of death (but in no event later may the option be exercised after the Option Expiration Date), by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option in accordance with Section 2 hereof on the date of death.

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