Option Fees definition
Examples of Option Fees in a sentence
If, at the expiration of any Option Term Purchaser has not exercised its rights either to extend the Option Term or to purchase the rights, both as hereinabove provided, all rights previously granted to Purchaser in the Work, unless agreed to otherwise, shall revert back to Owner and Owner shall retain all Option Fees paid.
If Purchaser elects to exercise its Option to purchase the rights set forth herein, Purchaser shall give Owner written notice of Purchaser’s election, and shall pay to Owner the Purchase Price, reduced by the sum of the Option Fee(s).
The failure or omission by any Party to perform any monetary obligation and such nonperformance has continued for ten (10) days after such notice of such failure from the other party; provided however it is understood that Grantee has no obligations to pay any Option Fees other than those which are actually paid by Grantee to Owner or otherwise come due prior to any termination of this Option Agreement.
If the Buyer fails to exercise its Option, the Buyer shall forfeit the Option Fee(s), and Seller, as its sole and exclusive remedy, may retain the Option Fee as a payment for the Option, Seller shall hold the title to the Property free and clear of all interests and claims of Buyer, and neither party will have any further rights or obligations under this Option.
At any time prior to sending a Notice of Exercise, Grantee shall have the right to terminate this Option Agreement by providing written notice of such termination to the Owner, and thereafter neither Party shall have any further obligation hereunder except ▇▇▇▇▇▇▇'s obligation to pay any unpaid Option Fees or reimbursements which become due prior to such termination and those obligations expressly stated to survive the term of this Option Agreement (the date of such termination, a “Termination Date”).
The parties acknowledge and agree that SUBLICENSE INCOME shall include, without limitation, the Initial License Fee and the Option Fees, set forth in Sections 8.1 and 8.2, respectively, of the PFIZER Research, Option and License Agreement.
In consideration of Aurum agreeing to the payment of the Option Fees, LIMO and the LIMO parties grant to Aurum or to its nominee an exclusive option to purchase the LIMO Tenement interest on the terms set out in and exercisable in accordance with the terms of this Deed.
Aurum must pay the Option Fees and the Purchase Price into the Nominated Bank Account.
The amount of the Option Fees previously paid by Buyer to Seller shall be credited against the payment of the Deposit.
Upon ▇▇▇▇▇▇'s exercise of the Option, Lessee shall be entitled to a credit for all Option Fees paid against Rent due under this Lease.