Termination of Purchase Option. The Purchase Option will terminate upon the earliest of: (i) the Acceptance Date; (ii) termination of the Merger Agreement other than upon, during the continuance of or after a Trigger Event; or (iii) 90 days following any termination of the Merger Agreement upon, during the continuance of or after a Trigger Event (or if, at the expiration of such 90 day period the Purchase Option cannot be exercised by reason of any applicable judgment, decree, order, injunction, law or regulation, ten business days after such impediment to exercise has been removed or has become final and not subject to appeal). Upon the giving by Parent or Acquisition to Stockholder of the Exercise Notice and the tender of the aggregate Exercise Price, Parent or Acquisition, as the case may be, will be deemed to be the holder of record of the Shares transferable upon such exercise, notwithstanding that the stock transfer books of the Company are then closed or that certificates representing such Shares have not been actually delivered to Parent.
Termination of Purchase Option. The Purchase Option will terminate upon the earliest of: (i) the Effective Time; (ii) termination of the Merger Agreement; or (iii) the exercise in full of the Purchase Option and consummation of the Closing with respect thereto. Upon the giving by Parent or Purchaser to a Shareholder of the Exercise Notice and the tender of the aggregate Exercise Price, Parent or Purchaser, as the case may be, subject to applicable law and the conditions of Section 13, will be deemed to be the holder of record of the Shares transferable upon such exercise, notwithstanding that the stock transfer books of the Company are then closed or that certificates representing such Shares have not been actually delivered to Parent.
Termination of Purchase Option. Upon the termination of the Purchase Option herein granted, (a) Tenant shall execute and deliver such documents as Landlord may request to evidence the termination thereof, including, without limitation, a quitclaim deed in recordable form memorializing the termination of the Purchase Option and (b) Landlord may execute, file and record an instrument evidencing the termination of the Purchase Option herein granted. If Tenant fails to execute and deliver such documents, then Landlord may do so. Tenant hereby appoints Landlord its attorney in fact for such purpose, which appointment is coupled with an interest and is irrevocable.
Termination of Purchase Option. The parties have agreed to delete the Purchase Option previously granted to Tenant. Accordingly, Section 33.2 of the Existing Lease is hereby terminated in its entirety. Tenant agrees to reasonably cooperate with Landlord to cause the Termination of Purchase Option Memorandum currently held by Landlord to be recorded in the Land Records of Prince George’s County, Maryland, and Tenant agrees to promptly execute and deliver any such further documents as may be reasonably requested by Landlord to remove the Purchase Option Memorandum from record title to the Premises. The heading of Section 33 shall be amended and restated as follows: “Right of First Offer; [Intentionally Omitted].” In addition, the subheading of Section 33.2 is hereby amended and restated in its entirety as follows: “[Intentionally Omitted].”
Termination of Purchase Option. The Purchase Option shall terminate upon the occurrence of either of the following events: (a) the Purchase Option is not exercised as required by this Grant at least six (6) months before the expiration of the Option Term or (b) the Purchase Option is timely and properly exercised as required by this Grant and the parties enter into the Option Purchase Agreement (which shall then supersede this Grant). In either event, the Purchase Option and all rights of Optionee under Section 1 shall automatically and immediately terminate without notice and cease to be of any force or effect whatsoever, and Optionee shall have no further right to purchase the Option Property, except as set forth in Section 2, below. Once it has terminated, the Purchase Option may not be revived by any further action by Optionee.
Termination of Purchase Option. The lessee’s option to purchase the real estate subject to the Sublease between Seller and Xxxx and Xxxxxx Xxxxxx dated January 1, 2004 shall have been exercised by such lessee or such Sublease (and the related Agreement to Purchase with Leaseback Provisions dated December 3, 2003) shall have been amended to eliminate such option.
Termination of Purchase Option. All rights of Lessee under this Purchase Option shall terminate and be of no further force or effect, notwithstanding Lessee's timely exercise thereof, if, (1) after such exercise and during the term of the Lease, a Breach by Lessee has occurred and Lessee fails to cure prior to the scheduled Closing Date, (2) after such exercise, Lessee fails to timely acquire the Premises within sixty (60) days after Lessor's receipt of the exercise notice, and/or (3) the Purchase Option is otherwise terminated pursuant to this Paragraph 55. Once Lessee's Purchase Option has terminated whether by lapse of time or by reason of the provisions of this paragraph, Lessee shall execute and deliver to Lessor a Quitclaim Deed stating that Lessee has no Purchase Option under the Lease in form reasonably required by Lessor, and Lessee's failure to execute and deliver such Quitclaim Deed shall be a material default under the Lease.
Termination of Purchase Option. The provision of Section 2 shall terminate as to the Shares at the time subject to the Member Purchase Option and the Company Purchase Option if at or prior to the time of the event or circumstance specified under this heading no Purchase Event shall have occurred, and
Termination of Purchase Option. The Purchase Option will ------------------------------ terminate upon the earliest of: (i) the Effective Time; (ii) termination of the Merger Agreement other than upon, during or after the occurrence of a Trigger Event; (iii) 90 days following any termination of the Merger Agreement upon, during or after the occurrence of a Trigger Event (or if, at the expiration of such 90 day period the Purchase Option cannot be exercised or the Closing thereunder cannot occur by reason of any applicable judgment, decree, order, injunction, law or regulation, 20 business days after such impediment to exercise or Closing has been removed or has become final and not subject to appeal); or (iv) the exercise in full of the Purchase Option and consummation of the Closing with respect thereto. Upon the giving by Parent or Purchaser to a Stockholder of the Exercise Notice and the tender of the aggregate Exercise Price, Parent or Purchaser, as the case may be, subject to applicable law and the conditions of Section 13, will be deemed to be the holder of record of the Shares transferable upon such exercise, notwithstanding that the stock transfer books of the Company are then closed or that certificates representing such Shares have not been actually delivered to Parent.
Termination of Purchase Option. As of the Effective Date, Article 30 of each Existing Lease and all other references to the Purchase Option in each Existing Lease are hereby deleted in their entirety. From and after the Effective Date, Tenant shall have no further right to exercise the Purchase Option, and the Purchase Option shall be null and void.
