Option definition
Examples of Option in a sentence
The Option may be exercised in whole or in part at any time and from time to time during the 30-day period from, and including, the Time of Sale, upon written notice by the Representatives to the Company setting forth the number of Option Securities as to which the several Underwriters are exercising the Option, the time and date of payment and delivery for such Option Securities (any such time and date, the “Option Closing Date”) and the place of payment and delivery for such Option Securities.
The Option Closing Date and any such place of payment and delivery shall be determined by the Representatives, but shall not be prior to the Initial Closing Date (as defined below) or, if after the Initial Closing Date, not earlier than two full business days (or, in the case of an Option Closing Date occurring on the Initial Closing Date, one full business day) after the exercise of the Option, unless otherwise agreed upon by the Representatives and the Company.
The Company does not have any liability in respect of any Company Stock Option that was granted with a per share exercise price that was less than the fair market value of a share of Company Common Stock on the applicable Company Option Grant Date, and the Company has not granted any Company Stock Options that are subject to the provisions of Section 409A of the Code.
Subject to the terms and conditions set forth in this Agreement, the Company hereby grants an option (the “Option”) to the several Underwriters to purchase, severally and not jointly, the Option Securities at a price per share equal to the Purchase Price, less, in each case, an amount per share equal to any dividends or distributions declared by the Company and payable on the Initial Securities but not payable on the Option Securities.
The Initial Closing Date and the Option Closing Date are referred to herein, together, as the “Closing Dates” and, individually, as a “Closing Date”.