First Option has the meaning ascribed thereto in Section 3.1(a);
First Option has the meaning set forth in Section 4.1(b) of this Agreement.
First Option has the meaning set out in sub-paragraph 4.01(a) hereof;
Examples of First Option in a sentence
Initial Term: December 11, 2023 – June 30, 2025 First Option Term: July 1, 2025 – June 30, 2026 Second Option Term: July 1, 2026 – June 30, 2027 Third Option Term: July 1, 2027 – June 30, 2028 Tax Delinquency.
More Definitions of First Option
First Option shall have the meaning provided in Section 2.
First Option means the rights and obligations contemplated in Section 9.5 hereof.
First Option means First Option as defined in Paragraph 35.
First Option. INCOME FOR A SPECIFIED NUMBER OF YEARS The Company will make monthly payments which will include both principal and interest. Payments will start on the Option Date and will continue for the number of years chosen. The number of years chosen cannot be more than 30. Interest is at the rate of 3% per year compounded yearly. Additional interest paid by the Company for any year will be added to the monthly payments for that year. Guaranteed monthly payments per $1,000 of proceeds applied to the First Option are shown below: ------------------------------------------------------------------------------- Number Number Number of Years of Years of Years ------------------------------------------------------------------------------- 1 $84.47 11 $8.86 21 $5.32 2 42.86 12 8.24 22 5.15 3 28.99 13 7.71 23 4.99 4 22.06 14 7.26 24 4.84 5 17.91 15 6.87 25 4.71 6 15.14 16 6.53 26 4.59 7 13.16 17 6.23 27 4.47 8 11.68 18 5.96 28 4.37 9 10.53 19 5.73 29 4.27 10 9.61 20 5.51 30 4.18 ------------------------------------------------------------------------------- SECOND OPTION: LIFE INCOME The Company will make equal monthly payments. Payments will start on the Option Date and will continue: - During the life of the Payee, with no payment after the death of the Payee, called "Life Income, No Refund"; or - During the life of the Payee, but for at least 10 years, called "Life Income, 10 Years Certain"; or - During the life of the Payee, but for at least 20 years, called "Life Income, 20 Years Certain".
First Option see Section 4.01(b).
First Option means the option described in the Option Letter under the heading “Preferred Share Option” to have the Existing Notes held by the holders thereof converted into Preferred Shares;
First Option. Income for a Specified Number of Years The Company will make equal monthly payments which will include both principal and interest. Payments will start on the Option Date and will continue for the number of years chosen. The number of years chosen cannot be more than 30. Interest is at the rate of 3 1/2% per year compounded yearly. Additional interest paid by the Company for any year will be added to the monthly payments for that year. Guaranteed monthly payments per $1,000 of proceeds applied to the First Option are shown below. ------------------------------------------------ Number Number Number of Years of Years of Years ------------------------------------------------ 1 $84.65 11 $9.09 21 $5.56 2 43.05 12 8.46 22 5.39 3 29.19 13 7.94 23 5.24 4 22.27 14 7.49 24 5.09 5 18.12 15 7.10 25 4.96 6 15.35 16 6.76 26 4.84 7 13.38 17 6.47 27 4.73 8 11.90 18 6.20 28 4.63 9 10.75 19 5.97 29 4.53 10 9.83 20 5.75 30 4.45