Option Lapse Date definition

Option Lapse Date means the first day after the expiration of the period, specified in a Grant, from and including the Commencement Date;
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Option Lapse Date means, as applicable, (A) with respect to Tenant’s obligation to deliver the Beneficial Transfer Documents and Landlord’s ability to exercise its remedy in the case of a Limited Remedy Default under Paragraph 22(c): (i) the last day that Tenant could have timely delivered the Option Notice to Landlord under the terms of Paragraph 34(a), if Tenant fails to so timely deliver said Option Notice pursuant to Paragraph 34(a) hereof; time being of the essence with respect to such date or (ii) the Purchase Date, if Tenant does timely deliver the Option Notice Pursuant to Paragraph 34(a) hereof, but thereafter Tenant defaults in its obligation to close on the Purchase Option on the Purchase Date pursuant to Paragraph 20 hereof; time being of the essence with respect to such date, and (B) with respect to the application of the term “Option Lapse Date” under all other provisions of this Lease, including, without limitation, Paragraphs 9, 15, 16(b), 18, 22(a), 23, 31(b), 33, and 34, the earlier to occur of (i) the date that Tenant actually delivers the Beneficial Transfer Documents to Landlord or (ii) the date that Landlord forecloses upon Tenant’s beneficial interest in the Leased Premises.
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Examples of Option Lapse Date in a sentence

  • The insurance referred to in Paragraphs 16(a)(i), 16(a)(iv) and 16(a)(vi) shall name Landlord and Lender as loss payee (but shall name Landlord as an additional insured after the Option Lapse Date) and Tenant as its interest may appear.

  • Nothing contained in this Paragraph 9 is intended to limit the contest rights of Tenant under Paragraph 14 hereof, and, from the date hereof through the Option Lapse Date, so long as no Event of Default has occurred and is then continuing under this Lease only Tenant shall have the right to protest any real estate tax, PILOT or assessment or to commence any certiorari proceeding in connection therewith.

  • Notwithstanding Section 1.3.3, if Buyer does not deliver the Election Notice (as defined in Section 6.1 below), or terminate the Option pursuant to Section 1.3.2 above, on or before the date that is 15 days before the Option Lapse Date, Buyer shall be deemed to have elected to exercise the Option and the parties shall proceed to close the purchase and sale of the Property on or before the date that is 30 days thereafter (the “Outside Closing Date”).

  • In the event that Buyer does not exercise ------------------- its Purchase Option before the Purchase Option Lapse Date or the Purchase Option otherwise lapses, the Company shall have a "Call Option" entitling the Company ----------- to acquire all (but not less than all) of the Minority Interest by delivering written notice (the "Call Option Notice") to Buyer between April 1, 2001 through ------------------ March 31, 2002 (the "Call Option Exercise Period").

  • If the Option Lapse Date (as defined in the Lease) shall occur, the Beneficial Transfer Documents (as defined in the Lease) have been delivered, and the Note shall not have been fully paid, on the Option Lapse Date, provided the holder of the Note shall be an Affiliate (as defined in the Lease) of the Lender, the Lender will promptly grant Borrower a subordination non-disturbance and attornment agreement (an “Subordination”) substantially in the form of Exhibit B, annexed hereto.

  • First Call Option exercise date and First Call Option Lapse Date The First Call Option: • cannot be exercised prior to XX/XX/XX (clause X of SPA); and • to exercise the First Call Option, the Buyer must deliver a First Call Option Notice to each of the Sellers on or before XX/XX/XX (clause X of SPA).

  • Second Call Option exercise date and Second Call Option Lapse Date The Second Call Option: • cannot be exercised prior to XX/XX/XX (clause X of SPA); and • to exercise the Second Call Option, the Buyer must deliver a Second Call Option Notice to each of the Sellers on or before XX/XX/XX (clause X of SPA).

Related to Option Lapse Date

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Option Date means, with respect to any Stock Option, the date on which the Stock Option is awarded under the Plan.

  • Date of Grant means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization.

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Call Option Date As defined in Section 10.01(a) hereof.

  • Initial Exercise Date shall have the meaning ascribed to such term in the Preamble.

  • Option Exercise Date has the meaning specified in Section 2.1.

  • New Exercise Date means a new Exercise Date if the Administrator shortens any Offering Period then in progress.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Strike Period means from and including 15 August 2024 to and including 19 August 2024

  • Grant Date means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth in such resolution.

  • Date of Award means the date this Contract is fully executed.

  • Initial Vesting Date means the date occurring one (1) year after (check one):

  • Option Exercise Period has the meaning set forth in Section 6.4.

  • Award Date means the date upon which the Committee took the action granting an Award or such later date as the Committee designates as the Award Date at the time of the Award.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Holding Period means, with respect to a Hold-the-Offering-Price Maturity, the period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day after the Sale Date ( ), or (ii) the date on which the Underwriter has sold at least 10% of such Hold-the-Offering-Price Maturity to the Public at prices that are no higher than the Initial Offering Price for such Hold-the-Offering-Price Maturity.

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Strike Date means 12 March 2014, subject to postponement in accordance with the following provisions. If on the Strike Date the Reference Price of an Underlying is not determined and published or if on the Strike Date a Market Disruption Event with respect to an Underlying occurs, then the next following Exchange Business Day on which the Reference Price of such Underlying is determined and published again and on which a Market Disruption Event with respect to such Underlying does not occur will be deemed to be the relevant Strike Date for such Underlying.

  • Continuous Service Status means the absence of any interruption or termination of service as an Employee or Consultant. Continuous Service Status as an Employee or Consultant shall not be considered interrupted in the case of: (i) sick leave; (ii) military leave; (iii) any other leave of absence approved by the Administrator, provided that such leave is for a period of not more than ninety (90) days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise pursuant to Company policy adopted from time to time; or (iv) in the case of transfers between locations of the Company or between the Company, its Parents, Subsidiaries, Affiliates or their respective successors. A change in status from an Employee to a Consultant or from a Consultant to an Employee will not constitute an interruption of Continuous Service Status.

  • continuous supply of services means a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includes supply of such services as the Government may, subject to such conditions, as it may, by notification, specify;

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Date of Option Grant means the effective date of grant of the Option as set forth in the Notice.

  • Option Period means the period during which an Option may be exercised.

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.