Conditional Options definition
Examples of Conditional Options in a sentence
To exercise one or more (or all) of the Conditional Option(s), the Investor shall deliver an irrevocable written notice of such exercise (the “Exercise Notice”) to the Company at the address set forth in subsection (e) below.
The Exercise Notice shall indicate the number of Conditional Options that the Investor is exercising.
If the Committee shall have so determined to grant such new options on such a conditional basis ("New Conditional Options"), no such New Conditional Option shall become exercisable in the absence of such employee's consent to the condition and surrender and cancellation as appropriate.
New Conditional Options shall be treated in all respects under this Plan as newly granted options.
The Conditional Options, if unexercised, do not give the Investor any right to participate in new issuances of Company Common Stock in respect of the Option Shares subject to the Conditional Options (excluding for the avoidance of doubt any rights that the Investor has to participate in new issuances of Company Common Stock generally pursuant to the Investment Agreement).
As promptly as reasonably practicable, but not less than five Business Days, following the delivery of an Exercise Notice to the Company, the Company and the Investor shall effect the closing of the exercise of the Conditional Option(s) indicated by the Exercise Notice.
The Parties agree that the aggregate value of the Conditional Options has been reasonably determined by the mutual agreement of the Parties and that, substantially concurrently with the Closing, such value, which is equal to £ 19,778,800.00 (the “Option Consideration”), shall be paid in immediately available funds in £ by Investor to the account of Company notified to the Investor in writing at least five Business Days prior to Closing Date.
As promptly as reasonably practicable, but not less than five Business Days, following the delivery of an Exercise Notice to the Company the Company and the Investor shall effect the closing of the exercise of the Conditional Option(s) indicated by the Exercise Notice.
These option shares shall I be referred to as the "IceWEB Conditional Options" when necessary to expressly distinguish the grant date of such option shares from the 1,500,000 options to acquire IceWEB Common Stock that will be granted on the Closing Date.
Simultaneously, IceWEB will instruct its transfer agent to deliver certificates representing the IceWEB Shares and IceWEB will enter into agreements granting IceWEB Options, excluding the IceWEB Conditional Options, to the Shareholders (and any other individual, if applicable, listed in Schedule 1.01).