System Purchase Option Sample Clauses

System Purchase Option. Termination for Convenience. Host may purchase the System and terminate this Agreement for convenience at any time after the sixth (6th) anniversary ofthe Commercial Operation Dateof the System installed under this Agreement as set forth in Section 5.4(c) upon at least sixty (60) days’ prior written noticeto Nexamp; provided, that upon such termination Host shall payNexamp the applicable Early Termination Price. Prior to exercising its rights under this section, Host andits agents shall be permitted to inspect the System and all records relating to operation, maintenance andwarranties applicable to the System. During the Term, Host shall only have five (5) options to purchase the System under this Section 2.2. Upon the payment of the Early Termination Price in accordance with this Section and execution and delivery by Nexamp to Host of abill of sale for the System, (a) title to the System shall pass to Host, free and clear of any liens and encumbrances, and without warranties of any kind except as to title, (b) the remaining period on all third party warranties for the System, and the remaining term of all thirdparty contracts regarding monitoring, operations andlor maintenance ofthe System, in each case to the extent transferable, will be transferred to Host (c) as between Nexamp and the Host, all right, title andinterest in and to the Environmental Attributes related to the System arising on and after such date ofpayment shall accrue to the benefit of or vest in the Host or, ifapplicable, Nexamp shall assign to Host rights under any forward sale contract related to such Environmental Attributes as maybe in effect as ofthe date of such payment, ifany, but in any caseNexamp shall execute and deliver to Host such 8 B3708776.6 documentation as maybe commercially reasonable to effect such transfer or assignment and (d) this Agreement shall terminate automatically; provided, that, with respect to the System, the Host and the System shall remain subject to the MTC Obligations until the twentieth (20th) anniversary ofthe Commercial Operation Date of the System. 2.3 Termination Due To Transfer ofTitle by Host. If prior to end ofthe Term, Host sells, assigns or transfers, whether by operation of law or otherwise, all or anyportion of its interest in the Site (a “Transfer of Title”) without the prior written consent of Nexamp, which consent shall not be unreasonablywithheld, then Host shall pay the Early Termination Price. Hosthereby covenants to Nexamp that it wil...
Sample 1
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System Purchase Option. 9.5.1. At the end of the seventh (7th) complete calendar year after the date set forth in the Final Deliverability Notice, tenth (10th) complete calendar year, and every fifth (5th) complete calendar year thereafter, and at the end of the Initial Term and each Renewal Term, so long as Purchaser is not in default under this Agreement, Purchaser may purchase the System, rights to Site(s), and/or components thereof from Seller on any such date for a purchase price equal to the Fair Market Value of the System, rights to Site(s), and/or components thereof. To exercise such option, Purchaser must provide written notification to Seller of its intent to purchase at least one hundred eighty (180) days prior to the end of the applicable year or the Initial Term or Renewal Term, as applicable, and the purchase will be completed prior to the end of the applicable year or the Initial Term or Renewal Term, as applicable.
Sample 1

Related to System Purchase Option

  • Purchase Option (Check One) ❏ - The Company shall allow the Recipient to void this agreement at any time and release all liability in connection with this agreement by payment to the Company in the amount of US Dollars ($ ). ❏ - The Company does not allow the Recipient to be released of liability from this agreement for any monetary amount or reason whatsoever.

  • Put Option The Company hereby grants to Lender an option (the “Put Option”) to sell all or any portion of the Issued Shares (the “Put Shares”) to the Company for a total purchase price of $195,000, pro-rated for any portion thereof (the “Put Price”). The Put Option may be exercised with respect to any amount that is equal to or less than the entire balance of the outstanding Put Shares, at any time during the earlier to occur of the following Put Option exercise periods (the “Put Period”): (a) the ten (10) Business Day period commencing on the first anniversary hereof, or (b) the ten (10) Business Day period commencing on the date which is nine (9) months after the date that the registration statement for the registration of the Issued Shares is declared effective by the SEC . If not exercised during the Put Period, the Put Option shall terminate and shall be of no further force or effect. The Put Option shall be exercisable by Lender’s delivery of written notice to the Company (the “Put Notice”). The Put Notice shall specify the date on which the closing of the purchase of the Put Shares shall take place (the “Put Closing Date”), which such date shall be no earlier than ten (10) days but no later than thirty (30) days from the date of the Put Notice. On or before the Put Closing Date, Lender will deliver to the Company the certificate(s) representing the Put Shares (duly endorsed for transfer by Lender or accompanied by duly executed stock powers in blank) and the Company shall tender to Lender the Put Price in cash by wire transfer of immediately available funds to an account at a bank designated by Lender. The Company and Lender acknowledge and agree that the Company’s obligation to purchase the Issued Shares from Lender pursuant to the Put Option is an Obligation secured by the Collateral and any related guarantees under the Loan Documents, and for so long as the Put Option is outstanding and, if exercised, the Put Price is not yet tendered, the Lender’s right to receive the Put Price shall be secured by the Collateral and any related guarantees under the Loan Documents. Lender’s right to exercise the Put Option shall not be transferred or assigned to any third party.

  • Option to Build If the dates designated by Developer are not acceptable to Connecting Transmission Owner, the Connecting Transmission Owner shall so notify the Developer and NYISO within thirty (30) Calendar Days, and unless the Developer and Connecting Transmission Owner agree otherwise, Developer shall have the option to assume responsibility for the design, procurement and construction of Connecting Transmission Owner’s Attachment Facilities and Stand Alone System Upgrade Facilities on the dates specified in Article 5.1.2; provided that if an Attachment Facility or Stand Alone System Upgrade Facility is needed for more than one Developer’s project, Developer’s option to build such Facility shall be contingent on the agreement of all other affected Developers. NYISO, Connecting Transmission Owner and Developer must agree as to what constitutes Stand Alone System Upgrade Facilities and identify such Stand Alone System Upgrade Facilities in Appendix A hereto. Except for Stand Alone System Upgrade Facilities, Developer shall have no right to construct System Upgrade Facilities under this option.

  • Conversion Option Subject to the provisions of this Agreement, the Borrower may convert the whole or any part of any type of Loan under the Credit Facility into any other type of permitted Loan under the Credit Facility by giving the Lender a Conversion Notice in accordance herewith; provided that:

  • OPTION TO PURCHASE CONTROLLING In the event a conflict arises between the terms and conditions of the Lease Agreement and the Option to Purchase Agreement, the Option to Purchase Agreement shall control.

  • Partial Exercise of Warrants; Fractions (1) The holder of any Warrants may exercise his right to acquire a number of whole Common Shares less than the aggregate number which the holder is entitled to acquire. In the event of any exercise of a number of Warrants less than the number which the holder is entitled to exercise, the holder of Warrants upon such exercise shall, in addition, be entitled to receive, without charge therefor, a new Warrant Certificate(s), bearing the same legend, if applicable, or other appropriate evidence of Warrants, in respect of the balance of the Warrants held by such holder and which were not then exercised.

  • Warrant Exercise (1) Other than Warrants held by the Depository, Registered Warrantholders of Warrant Certificates who wish to exercise the Warrants held by them in order to acquire Warrant Shares must complete the exercise form (the “Exercise Notice”) attached to the Warrant Certificate(s) which form is attached hereto as Schedule “B”, which may be amended by the Corporation with the consent of the Warrant Agent, if such amendment does not, in the reasonable opinion of the Corporation and the Warrant Agent, which may be based on the advice of Counsel, materially and adversely affect the rights, entitlements and interests of the Warrantholders, and deliver such certificate(s), the executed Exercise Notice and a certified cheque, bank draft or money order payable to or to the order of the Corporation for the aggregate Exercise Price to the Warrant Agent at the Warrant Agency. The Warrants represented by a Warrant Certificate shall be deemed to be surrendered upon personal delivery of such certificate, Exercise Notice and aggregate Exercise Price or, if such documents are sent by mail or other means of transmission, upon actual receipt thereof by the Warrant Agent at the office referred to above.

  • Call Option The Company shall have the option to "call" the Warrants (the "Warrant Call"), in accordance with and governed by the following:

  • Option The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to accept an assignment from the Receiver of all Leased Data Management Equipment.

  • 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.

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