Common use of The Market Option Clause in Contracts

The Market Option. Subject to the terms and conditions of this Paragraph 6, Tradelink and its assigns are hereby granted and shall have an option (this "Market Option"), at any time or from time to time commencing on the date that is six (6) months from the date that Tradelink purchases Common Stock by exercise of the Tradelink Options (the "Commencement Date") and at or before 5:00 P.M., Eastern Time, on the date that is the forth university of the Commencement Date (the "Option Exercise Period"), but not thereafter, to purchase any and all of the Option Shares (as defined below) for the Option Exercise Price (as defined below). The term "Option Shares" shall mean any and all shares of the Common Stock owned, directly or indirectly through any Affiliate, by V'Power at the time of any Option Notice (as defined below). At the request of Tradelink or its assigns, the Option Shares shall be the Common Stock owned, directly or indirectly through any Affiliate, by V'Power that has been registered with the Securities and Exchange Commission under the Securities Act of 1933 (the 1933 Act"), which registration is current. The term "Option Exercise Price" shall mean seventy percent (70%) of the average of the per share market prices (as defined below) for the Common Stock on each of the last ten (10) trading days immediately preceding the last regular trading day immediately preceding an Option Notice multiplied by the number of Option Shares specified for purchase in the Option Notice. The term "market price" shall mean the average of the closing bid and ask price at the close of the applicable trading day. An Option Notice shall be irrevocable unless the Shareholders otherwise agree. If the rights represented hereby shall not be exercised during the Option Exercise Period, this Market Option shall become and be void without further force or effect, and all rights represented hereby shall cease and expire. (b)