Right of Option Sample Clauses

Right of Option. The right of option referred to in Article 9 of the Agreement must be exercised by giving notice within 6 months following the date of beginning the employment or, if the person employed already holds the employment on the date of coming into force of the Agreement, within 6 months of that date.
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Right of Option. In case the persons mentioned in Article 11, paragraph 2, sentence 2 prefer to attach to the legislation of the represented Contracting State, the competent institution of the referred Contracting State issues them a form confirming that they attach to the legislation of the said Contracting State. The institution of the other Contracting State shall be informed immediately by sending of the attested copy of that form. The right of option can be used only once. With regard to those presently employed, the period of three months begins to run from the date when the Agreement comes into force. The posted personnel not being engaged locally will be subject to the legislation of the sending Contracting State.
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Right of Option. In the event the Lessee chooses to exercise its right of option(s), the monthly rent payable shall be adjusted to the standard rent in effect for users of the airport at that time or the fair rental value, whichever is greater. On the first anniversary of each option, and on each anniversary until expiration of each option period, the monthly rent shall be adjusted as set forth in Section 4.1.1 above, except that Lessee’s base year shall become 2012 (Option 1) and 2017 (option 2). In the event County and Lessee cannot agree upon the rental value before sixty (60) days prior to the commencement of each option period, the rental shall be determined as set out in this section and the following subsections:
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Right of Option. In the event that the right to lease is to be transferred – the Lessor shall benefit from a right of option, allowing him/her to take back the premises free from occupants, or to substitute the transferee for one of his choice for the transfer deed provided that the transferee chosen by him/her offers to pay the assignor an identical price to that proposed to the other interested candidate. This right shall remain binding for subsequent interested parties. To allow the Lessor to exercise his/her right of option, the Lessee shall inform the Lessor of his/her intention to transfer the right to lease, by registered letter with recorded delivery. The notification made by the Lessee must indicate, failure to do so would risk making the notification void, the name and the address of the acquiring candidate, the amount and methods of payment of the price as well as the conditions, place and day of the transfer. The Lessor must inform the Lessee of his decision within a timeframe of 2 months starting from this notification by registered and recorded letter. In the event that the Lessor decides to use his right to stand in for or substitute the transferee with any transferee of his choice, the transfer shall be put in order within a month, starting from the date that the Lessor makes his decision known.
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Right of Option. By express agreement between the Parties, they will, no later than at the expiry of a period of two (2) months following notification (which will be made by the most diligent Party) of the decision of the expert required to give their opinion on the amount of the rental value of the Leased Premises under the conditions of Article VI.5.2 above, draw up a new lease under the conditions set by the said decision, unless the LESSEE waives renewal or the LESSOR refuses renewal.
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Right of Option. In the event the leasehold right is assigned, the Landlord shall have the option of recovering the premises free of any occupancy or substituting any assignee of its choosing on the deed of assignment, provided the Landlord or the assignee chosen by it pay the assigning leaseholder the same price as the one offered by the proposed acquirer. This right shall be binding on successive acquirers. To enable the Landlord to exercise its right of option, the Tenant shall inform it at least two months in advance, by registered letter with acknowledgement of receipt, of its intention to assign its leasehold right. The Tenant’s notification shall indicate, under penalty of nullity, the name and address of the proposed acquirer, the price and terms of payment and the conditions, place and day of the assignment. The Landlord must inform the Tenant by registered letter with acknowledgement of receipt of its decision within two months from this notification. In case the Landlord activates its right to take the place of or to substitute any assignee of its choosing, the assignment shall be finalized within one month from the date when the Landlord made known its decision.
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Right of Option. It is expressly agreed between the Parties that they shall, no later than within one (1) month of service (by the party that acts first) of the valuer’s decision, draw up a new lease under the conditions set forth in said decision, unless the Lessee chooses not to renew the lease or the Lessor refuses to renew it.
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Right of Option. Should Company introduce other products or devices as contemplated by recital paragraph "A", Distributor shall have the option of becoming Company's exclusive distributor of such other Products or devices within the Market.
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Related to Right of Option

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • 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").

  • 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 (“Effective Date”) of the Registration Statement (as defined in Section 2.1.1 hereof). 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 accordance with Section 10.1 herein 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 (5) full Business Days after the date of the notice or such other time and in such other manner as shall be agreed upon by the Company and the Representative, at the offices of EG&S or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. 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.

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Grant and Exercise of Option The Xxxxxx Parties hereby grant to Dow an irrevocable option (the “Option”) to purchase, on the terms and subject to the conditions set forth herein, the Interests at a cash purchase price equal to the Fair Market Enterprise Value (the “Purchase Price”). The Option may be exercised by Dow upon written notice (the “Option Exercise Notice”) to the Xxxxxx Parties at any time after the first anniversary of the Closing Date and prior to the Termination Date. The Option shall terminate and be of no further force and effect upon the earlier to occur of (i) the fifth anniversary of the Closing Date, and (ii) the date of the closing of the first underwritten public offering of the equity interests of the Xxxxxx Group (or its successor) (an “IPO”) pursuant to a registration statement filed pursuant to the Securities Act of 1933, as amended (such date being referred to herein as the “Termination Date”); provided, that Dow will not have the right to exercise the Option after the forty-fifth (45th) day following the date on which the Xxxxxx Parties provide written notice (“Xxxxxx Notice”) to Dow that it has filed such a registration statement for an IPO with the Securities Exchange Commission (it being understood that Dow will have the right to exercise the Option if the Xxxxxx Parties do not consummate an IPO within 180 days of the delivery of such Xxxxxx Notice). Notwithstanding the foregoing sentence, (i) Dow shall be entitled to purchase the Interests in the event that it has exercised the Option in accordance with the terms hereof prior to the Termination Date and (ii) Xxxxxx Parties’ obligation to sell the Interests shall be subject to the restrictive covenants contained in its debt EXECUTION COPY financing agreements as in effect from time to time; provided that such covenants do not adversely materially discriminate against such Interests compared to the assets of the Xxxxxx Parties taken as a whole.

  • Right of Exercise Subject to the provisions hereof, each Registered Warrantholder may exercise the right conferred on such holder to subscribe for and purchase one (1) Common Share for each Warrant after the Issue Date and prior to the Expiry Time and in accordance with the conditions herein.

  • Grant of Options The Company hereby grants Optionee the right and option ("Option") to purchase the above described Twenty Million (20,000,000) shares of Common Stock, on the terms and conditions set forth herein and subject to the provisions of the Form S-8 registration statement in exchange for services provided by Employee to the Company, the options shall vest immediately upon the exercise hereof.

  • Term and Exercise of Option (a) The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein.

  • 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 eighteen (18) 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) as of the end of the Lease Term, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (iii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice; and (iv) the Lease then remains in full force and effect and Original Tenant or a Permitted Assignee occupies the majority of the Premises at the time the option to extend is exercised and as of the commencement of the Option Term. 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).

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

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